IoT in BFSI Market Trends, Opportunities, and Forecast by 2031

MARKET INTRODUCTION

IoT in BFSI is related to a network of devices connected to the internet, including tablets, smartphones, PCs, and other items fixed with sensors, which enables these objects to exchange and collect data. BFSI industry adopts IoT in BFSI technology to track and analyze the demand and behavior of the customers and provide real-time analytics. The insurance companies use sensors to get data about product design defects so that they can assess premium accurately and best price coverage in case of automobile casualty.

MARKET DYNAMICS

The increased government expenditure on building digital infrastructure, increase in network connectivity, and availability of smartphones and tablets are some of the prime factors driving the growth of the IoT in BFSI Market. However, lack of awareness of IoT applications, an increase in online frauds, and data privacy & security are some of the major factors which may restrain the growth of the IoT in the BFSI market. Moreover, the rise in the prevalence of online banking, mobile banking apps, e-wallets, and other modes of the transaction is anticipated to boost the growth of the IoT in the BFSI market.

MARKET SCOPE

The "Global IoT in BFSI Market Analysis to 2031" is a specialized and in-depth study of the IoT in BFSI market with a special focus on the global market trend analysis. The report aims to provide an overview of IoT in BFSI market with detailed market segmentation by category, application. The global IoT in BFSI market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading IoT in BFSI market players and offers key trends and opportunities in the IoT in BFSI market.

MARKET SEGMENTATION

The global IoT in BFSI market is segmented on the basis of category, application. On the basis of category, the market is segmented as banking, capital, investment management, insurance, capital real estate. On the basis of application, the market is segmented as product monitoring, customer monitoring, premises monitoring, supply chain monitoring, supply chain monitoring.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global IoT in BFSI market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The IoT in BFSI market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting IoT in BFSI market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the IoT in BFSI market in these regions.

MARKET PLAYERS

The reports cover key developments in the IoT in BFSI market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from IoT in BFSI market are anticipated to lucrative growth opportunities in the future with the rising demand for IoT in BFSI market. Below mentioned is the list of few companies engaged in the IoT in BFSI market.

The report also includes the profiles of key IoT in BFSI market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

- Accenture PLC.
- AT and T, Inc.
- Cisco Systems, Inc.
- Dell EMC Corporation
- Honeywell International, Inc.
- IBM Corporation
- Intel Corporation
- Qualcomm, Inc.
- SAP SE
- Symantec Corporation

The Insight Partners dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

IoT in BFSI Report Scope