Lewes, DE -- (SBWire) -- 03/09/2015 --Report forecast the BFSI IT Market in India to grow at a CAGR of 14.15 percent over the period 2014-2019.
IT can be defined as an integrated platform consisting of hardware, software, and services. Organizations have IT departments that are responsible for storing, safeguarding, processing, transmitting, and retrieving information. IT enables a smooth flow of information across an organization. IT departments manage all IT-related services, software, and solutions, and integrate and streamlet them with various processes to facilitate a smooth flow of organizational information. They also help organizations align their business processes with various technologies to improve overall efficiency.
According to the lead analyst of this report, with the increased adoption of cloud computing and virtualization by Banking, Financial Services and Insurance (BFSI) firms has become one of the major trends in the market. Financial institutions are cutting their capital investment and costs associated with maintenance, security and infrastructure by moving their IT infrastructures towards cloud.
According to the report, stringent regulatory framework is one of the major drivers that has increased the need for enhancement of compliance functions among organizations in the BFSI sector in India. Many financial institutions have established in-house software testing services in order to meet the regulatory requirements, which has increased their operational costs.
Further, the report states that lack of awareness of advanced technologies and rising security issues has become a major challenge in this area. The emergence of social networking, cloud-based services and big data systems has also made business enterprises more vulnerable to cyber-attacks in India.
This report covers the present scenario and the growth prospects of the BFSI IT market in India for the period 2015-2019. The BFSI IT market in India is categorized by three main segments: Hardware, Software, and IT Services.
BFSI IT Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and also includes the profiles of key vendors operating in this market.
This report covers the following companies as the key players in the BFSI IT Market in India: HP Corp., IBM Corp., Oracle Corp., Polaris, TCS Ltd. and Wipro Ltd.
Other Prominent Vendors in the market are: 3i Infotech, Accenture, Acer, Aegis, Atom Technologies, Capgemini India, Cisco Systems, CMS Infosystems, CSC, Dell, Diebold, Firstsource Solutions, Genpact India, HCL Technologies, Hitachi, iGATE Global Solutions, JP Morgan, KPIT Technologies, L&T Infotech, Maverick Technologies, Microsoft, MindTree, Mphasis, Netapp, Newgen, Nucleus Software, Ramco Systems, Robert Bosch Engineering and Business Solutions, SAP, Serco Global Services, Syntel, Tally, Tech Mahindra, Vmware, WNS Global Services and Wolters Kluwer.
Market Driver
- Increase in Regulatory Policies
- For a full, detailed list, view our report
Market Challenge
- Lack of Awareness about Advanced Technology and Rising Security Issues
- For a full, detailed list, view our report
Market Trend
- Increased Adoption of Cloud Computing and Virtualization
- For a full, detailed list, view our report
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?
Spanning over 98 pages and 28 exhibits, "BFSI IT Market in India 2015-2019" report covers the Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation by Products, Risks involved in BFSI Sector, uying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/bfsi-it-market-india-2015-2019
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