Albany – NY, Oct. 20, 2015 (GLOBE NEWSWIRE) — The financial services are among the most data-driven industries. Financial services institutions operate within regulatory environments that require firms to store and analyze several years of transactional data. For making the most from the businesses, financial services relies on relational technologies coupled with business intelligence tools to handle the ever increasing data and analytics burden. In today’s world of information, the financial service industry is witnessing a disruptive change in the way do businesses worldwide. Regulatory reforms majorly drive this change. Ailing business and customer settlements, continuous economic crisis in other industry verticals, high cost of new technology and business models, and high degree of industry consolidation and automation are some of the other growth drivers.
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Many financial services currently focus on improving their traditional data infrastructure as they have been addressing issues such as customer data management, risk, workforce mobility, and multichannel effectiveness. These daily problems led financial organization to deploy big data as a long-term strategy. By the end of 2014, big data has turned out to be the fastest growing technology adopted by the financial institutions over the past five years. Global big data IT spending in financial services market to grow at a CAGR of 25.5% over the period 2014-2019.
Global Big Data IT Spending in Financial Services Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Americas, APAC, and EMEA. It also covers the landscape of the global big data IT spending in financial services market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
- SAS Institute
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Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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