Big Data in the Financial Services Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts
Release Date: July 2018
Number of Pages: 521
Number of Tables and Figures: 97
Synopsis: “Big Data” originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The financial services industry is no exception to this trend, where Big Data has found a host of applications ranging from targeted marketing and credit scoring to usage-based insurance, data-driven trading, fraud detection and beyond.
SNS Telecom & IT estimates that Big Data investments in the financial services industry will account for nearly $9 Billion in 2018 alone. Led by a plethora of business opportunities for banks, insurers, credit card and payment processing specialists, asset and wealth management firms, lenders and other stakeholders, these investments are further expected to grow at a CAGR of approximately 17% over the next three years.
The “Big Data in the Financial Services Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an in-depth assessment of Big Data in the financial services industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2018 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 6 application areas, 11 use cases, 6 regions and 35 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
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The report is available for the following price:
- Single User License: USD 2,500
- Company Wide License: USD 3,500
The report has the following key findings:
- In 2018, Big Data vendors will pocket nearly $9 Billion from hardware, software and professional services revenues in the financial services industry. These investments are further expected to grow at a CAGR of approximately 17% over the next three years, eventually accounting for over $14 Billion by the end of 2021.
- Banks and other traditional financial services institutes are warming to the idea of embracing cloud-based platforms, particularly hybrid-cloud implementations, in a bid to alleviate the technical and scalability challenges associated with on-premise Big Data environments.
- Big Data technologies are playing a pivotal role in facilitating the creation and success of innovative FinTech (Financial Technology) startups, most notably in the online lending, alterative insurance and money transfer sectors.
- In addition to utilizing traditional information sources, financial services institutes are increasingly becoming reliant on alternative sources of data – ranging from social media to satellite imagery – that can provide previously hidden insights for multiple application areas including data-driven trading and investments, and credit scoring.
The report covers the following topics:
- Big Data ecosystem
- Market drivers and barriers
- Enabling technologies, standardization and regulatory initiatives
- Big Data analytics and implementation models
- Business case, application areas and use cases in the the financial services industry
- 30 case studies of Big Data investments by banks, insurers, credit card and payment processing specialists, asset and wealth management firms, lenders, and other stakeholders in the financial services industry
- Future roadmap and value chain
- Profiles and strategies of over 270 leading and emerging Big Data ecosystem players
- Strategic recommendations for Big Data vendors and financial services industry stakeholders
- Market analysis and forecasts from 2018 till 2030
Market forecasts are provided for each of the following submarkets and their categories:
- Hardware, Software & Professional Services
- Professional Services
- Horizontal Submarkets
- Storage & Compute Infrastructure
- Networking Infrastructure
- Hadoop & Infrastructure Software
- Analytic Platforms & Applications
- Cloud Platforms
- Professional Services
- Application Areas
- Personal & Business Banking
- Investment Banking & Capital Markets
- Insurance Services
- Credit Cards & Payment Processing
- Lending & Financing
- Asset & Wealth Management
- Use Cases
- Personalized & Targeted Marketing
- Customer Service & Experience
- Product Innovation & Development
- Risk Modeling, Management & Reporting
- Fraud Detection & Prevention
- Robotic & Intelligent Process Automation
- Usage & Analytics-Based Insurance
- Credit Scoring & Control
- Data-Driven Trading & Investment
- Third Party Data Monetization
- Other Use Cases
- Regional Markets
- Asia Pacific
- Eastern Europe
- Latin & Central America
- Middle East & Africa
- North America
- Western Europe
- Country Markets
- Argentina, Australia, Brazil, Canada, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Pakistan, Philippines, Poland, Qatar, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, UAE, UK, USA
Key Questions Answered:
The report provides answers to the following key questions:
- How big is the Big Data opportunity in the financial services industry?
- How is the market evolving by segment and region?
- What will the market size be in 2021, and at what rate will it grow?
- What trends, challenges and barriers are influencing its growth?
- Who are the key Big Data software, hardware and services vendors, and what are their strategies?
- How much are banks, insurers, credit card and payment processing specialists, asset and wealth management firms, lenders and other stakeholders investing in Big Data?
- What opportunities exist for Big Data analytics in the financial services industry?
- Which countries, application areas and use cases will see the highest percentage of Big Data investments in the financial services industry?
List of Companies Mentioned:
The following companies and organizations have been reviewed, discussed or mentioned in the report:
Acadian Asset Management
AMD (Advanced Micro Devices)
AQR Capital Management
ASF (Apache Software Foundation)
AWS (Amazon Web Services)
BCG (Boston Consulting Group)
Booz Allen Hamilton
CBA/CommBank (Commonwealth Bank of Australia)
CSA (Cloud Security Alliance)
CSCC (Cloud Standards Customer Council)
DDN (DataDirect Networks)
Digital Reasoning Systems
DMG (Data Mining Group)
Dolphin Enterprise Solutions Corporation
Domino Data Lab
Dun and Bradstreet
Dundas Data Visualization
Engineering Group (Engineering Ingegneria Informatica)
EVŌ (Big Cloud Analytics)
EXL (ExlService Holdings)
FICO (Fair Isaac Corporation)
GE (General Electric)
Hanse Orga Group
HPE (Hewlett Packard Enterprise)
IEC (International Electrotechnical Commission)
IEEE (Institute of Electrical and Electronics Engineers)
INCITS (InterNational Committee for Information Technology Standards)
InetSoft Technology Corporation
ISO (International Organization for Standardization)
ITU (International Telecommunication Union)
JNB (Japan Net Bank)
JPMorgan Chase & Co.
Looker Data Sciences
Manthan Software Services
NTT Data Corporation
OASIS (Organization for the Advancement of Structured Information Standards)
ODaF (Open Data Foundation)
ODCA (Open Data Center Alliance)
OGC (Open Geospatial Consortium)
Progress Software Corporation
PwC (PricewaterhouseCoopers International)
S&P's (Standard & Poor's)
Salient Management Company
Samsung Fire & Marine Insurance
Strategy Companion Corporation
Supermicro (Super Micro Computer)
TCS (Tata Consultancy Services)
TPC (Transaction Processing Performance Council)
Two Sigma Investments
U.S. NIST (National Institute of Standards and Technology)
W3C (World Wide Web Consortium)
Western Digital Corporation
Zurich Insurance Group