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Big Data Analytics in Banking Market Surges to USD 745.16 Billion by 2030, Propelled by 13.5% CAGR – Verified Market Reports®

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The Big Data Analytics in Banking market is driven by the increasing demand for personalized customer experiences and risk management. Challenges include data security, regulatory compliance, and integration with legacy systems. Growing digital transformation and the need for real-time insights fuel market expansion, while the complexity of data management and talent shortages pose significant obstacles.

LEWES, Del., Aug. 12, 2024 /PRNewswire/ — The Global Big Data Analytics in Banking Market is projected to grow at a CAGR of 13.5% from 2024 to 2030, according to a new report published by Verified Market Reports®. The report reveals that the market was valued at USD 307.52 Billion in 2023 and is expected to reach USD 745.16 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketreports.com/download-sample/?rid=36060 

Browse in-depth TOC on Big Data Analytics in Banking Market

202 – Pages
126 – Tables
37 – Figures

Scope Of The Report

ATTRIBUTES

DETAILS

STUDY PERIOD

2021-2030

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BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2021-2022

UNIT

VALUE (USD BILLION)

KEY COMPANIES PROFILED

IBM, Oracle, SAP SE, Microsoft, HP, Amazon AWS, Google, Hitachi Data Systems, Tableau, New Relic, Alation

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SEGMENTS COVERED

By Type
By Application
By Geography

Big Data Analytics in Banking Market Overview

Big Data Analytics has revolutionized the banking sector by enabling institutions to process vast amounts of data in real-time, providing valuable insights that drive decision-making.

The integration of Big Data technologies in banking has shifted the industry from traditional methods to data-driven strategies, improving everything from customer experience to risk management.

Banks collect and analyze data from various sources, including transactions, social media, and customer feedback, to gain a comprehensive understanding of market trends and customer behaviors. This shift has allowed for more personalized services and better predictive modeling, which are essential in today’s competitive financial landscape.

Market Drivers and Growth Factors

The rapid growth of digital banking and the increasing volume of unstructured data are key drivers of the Big Data Analytics market in banking. Customers now demand seamless digital experiences, pushing banks to adopt advanced analytics tools to meet these expectations.

Furthermore, the rise in cyber threats and the need for robust security measures have made Big Data Analytics indispensable for fraud detection and compliance. The ability to analyze large datasets helps banks to identify patterns that can predict fraudulent activities, thus protecting both the institution and its customers.

Additionally, regulatory requirements demand more sophisticated data management and reporting, further fueling the adoption of Big Data Analytics in the banking sector.

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Key Technologies and Tools

The backbone of Big Data Analytics in banking is formed by various technologies and tools, such as Hadoop, Apache Spark, and machine learning algorithms. These technologies allow banks to process and analyze large volumes of data efficiently.

Hadoop provides a distributed storage system that enables banks to manage big datasets across different nodes, while Apache Spark enhances the speed of data processing.

Machine learning, on the other hand, plays a crucial role in predictive analytics, helping banks forecast market trends and customer needs. The integration of these technologies not only improves data processing capabilities but also supports real-time analytics, which is critical in a fast-paced banking environment.

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Applications in Customer Relationship Management

Big Data Analytics has significantly enhanced Customer Relationship Management (CRM) in banking. By analyzing customer data, banks can offer personalized services that meet the unique needs of each client. This includes tailored product offerings, personalized marketing campaigns, and better customer support.

Big Data allows banks to segment their customers based on various factors such as spending habits, preferences, and financial goals. This segmentation helps in creating targeted strategies that improve customer satisfaction and loyalty.

Moreover, sentiment analysis through social media data enables banks to gauge customer opinions and respond proactively to concerns, thereby enhancing the overall customer experience.

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Challenges and Risks

Despite its benefits, the implementation of Big Data Analytics in banking comes with several challenges. Data privacy and security are major concerns, as banks deal with sensitive customer information that must be protected from breaches. The complexity of Big Data tools also requires significant investment in technology and skilled personnel, which can be a barrier for smaller institutions.

Additionally, there is the challenge of integrating Big Data Analytics with existing systems, which may not be designed to handle such large volumes of data. Banks must also navigate the regulatory landscape, ensuring that their data practices comply with laws such as GDPR, which adds another layer of complexity to Big Data initiatives.

Future Trends and Opportunities

The future of Big Data Analytics in banking is promising, with advancements in artificial intelligence (AI) and machine learning set to further enhance the capabilities of banks. AI-driven analytics will enable more accurate predictive models, allowing banks to anticipate market changes and customer needs with greater precision. The use of blockchain technology for secure data sharing is another emerging trend that could revolutionize data management in the banking sector.

Additionally, the continued growth of mobile banking will generate even more data, providing banks with richer datasets to analyze. As these technologies evolve, banks that effectively leverage Big Data Analytics will be well-positioned to gain a competitive edge in the market.

Big Data Analytics in Banking Market Key Players Shaping the Future

Major players, including IBM, Oracle, SAP SE, Microsoft, HP, Amazon AWS, Google, Hitachi Data Systems, Tableau, New Relic. and more, play a pivotal role in shaping the future of the Big Data Analytics in Banking Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Big Data Analytics in Banking Market Segment Analysis

Based on the research, Verified Market Reports® has segmented the global Big Data Analytics in Banking Market into Type, Application and Geography.

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To get market data, market insights, and a comprehensive analysis of the Global Big Data Analytics in Banking Market, please Contact Verified Market Reports®.

  • Big Data Analytics in Banking Market, by Type
    • On-Premise
    • Cloud
  • Big Data Analytics in Banking Market, by Application
    • Feedback Management
    • Customer Analytics
    • Social Media Analytics
    • Fraud Detection and Management
  • Big Data Analytics in Banking Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Top Hadoop Big Data Analytics Trends consolidating ‘new age’ technologies

About Us

Verified Market Reports® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, Verified Market Reports has been instrumental in providing founders and companies with precise, up-to-date research data.

With a team of 500+ Analysts and subject matter experts, Verified Market Reports leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.

Verified Market Reports’ domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.

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Verified Market Reports® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights Verified Market Reports’ dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide.

Contact Us
Mr. Edwyne Fernandes
Verified Market Reports®
US: +1 (650)-781-4080
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Email: [email protected] 
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TECHTRONIC INDUSTRIES JOINS THE UN GLOBAL COMPACT

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DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES

FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website. 

TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”

As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.

Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.

About TTI

Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.

MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).

TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.

All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.

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ATFX Connect won “Outstanding FX Liquidity Provider” Award at FinanceFeeds 2024

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LONDON, Dec. 23, 2024 /PRNewswire/ — ATFX Connect, the institutional arm of global trading platform ATFX, has been honored with the prestigious “Outstanding FX Liquidity Provider” award at the FinanceFeeds Awards 2024. This recognition underscores ATFX Connect’s industry-leading position in providing deep and reliable foreign exchange (FX) liquidity, a critical factor for institutional clients navigating global financial markets.

The FinanceFeeds Awards celebrate excellence and innovation in the financial sector, highlighting organizations that deliver exceptional services and groundbreaking solutions. ATFX Connect’s achievement in this category reflects its commitment to addressing the sophisticated needs of institutional clients, including hedge funds, asset managers, private banks, and brokers. The award recognizes the platform’s ability to offer tailored liquidity solutions, cutting-edge technology, and efficient trade execution.

Launched in 2019, ATFX Connect was designed to expand ATFX’s presence in the institutional space by offering a multi-access platform for professional investors. Its focus on technology-driven solutions has made it a trusted partner for clients requiring scalable and adaptable liquidity services. Over the years, ATFX Connect has consistently demonstrated excellence in integrating innovative tools with high-quality liquidity provision, helping clients optimize trading strategies in complex market environments.

This accolade solidifies ATFX Connect’s position as a top-tier liquidity provider in the financial industry. With its ongoing efforts to blend technology with personalized services, the platform continues to set new standards in the institutional trading sector.

About ATFX Connect

Back in 2019, ATFX stepped into the Institutional arena with the launch of its Multi-Access platform ATFX Connect. The management’s vision was to expand the broker’s global presence and continue to provide award-winning liquidity and customer service to clients within the Institutional community. With the focus on the professional Investor, the ATFX Connect platform is designed to provide an efficient automated trading venue that delivers tailored liquidity solutions to Hedge Funds, Asset Managers, Brokers, Private Banks, and other financial institutions. (ATFX Connect Website: https://www.atfxconnect.com)

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New Report: What rises in the East and goes down in the West? Ambition to lead

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  • Work is more important to professionals in ‘Global South’ countries than it is to their peers in Western countries.
  • They also place more value on working longer hours, with a significant percentage of professionals in China and India willing to work more than 40 hours a week.
  • Westerners lack leadership ambition – only 42% of respondents express a desire to lead or establish a business. In the Global South 65% hold this aspiration.
  • Global executive search & leadership advisory firm Amrop surveyed 8,000 people in Brazil, China, France, Germany, India, Poland, the UK, and US on the meaning of work.

BRUSSELS, Dec. 23, 2024 /PRNewswire/ — Professionals in Western countries are less ambitious and less interested in work than their ‘Global South’ peers, a new global study by Amrop, a leading global executive search and leadership consulting firm, reveals.

“The drive and ambition in India, Brazil, and China highlight a contrast with the aging societies in the West. As Western nations also face a scarcity of qualified professionals, the ambition of their workforce becomes a decisive factor for growth, economic success, and wealth preservation,” states Annika Farin, Global Chair at Amrop. “Stakeholders should encourage entrepreneurship and foster interest in both professional and personal growth in workers.”

Notably, 92% of Indians and 87% of Brazilians say they enjoy working, while the sentiment is lower in Germany (71%), the US (69%), and the UK (68%), as well as other European countries. Significant variations emerge in how respondents prioritize their careers: 84% in India assert that a successful career is crucial for a good life, with high agreement also in China (71%) and Brazil (70%). Conversely, only 43% in Germany, 40% in France and 37% in Poland share this perspective. In other Western countries such as the US and UK, over half of respondents consider their careers vital for a good life.

India Leads with Impressive Work Ethic and Work-Life Balance

However, divergent work ethics surfaced among Western countries as well, with 70% in the US prioritizing hard work, contrasting starkly with the 35% in France who share the same belief. In this context, India leads at 75%, surpassing Brazil (55%) and China (63%). Chinese professionals also lean more towards career over private life. Work hours reveal distinctions: 46% in China and 42% in India are willing to work over 40 hours, while 29% in the UK, 27% in Germany and only 16% in France, are open to longer working hours. At the same time 73% in India and 59% in China assert that they have a healthy work-life balance, contrasting with 45% in France and 49% in Germany.

“This observation is intriguing. Working fewer hours doesn’t necessarily improve one’s perception of work-life balance. If any connection exists, it appears to be the other way around – professionals willing to work longer hours also seem to have a greater sense of work-life balance. In Europe, especially, we need follow-up studies to find out where these sentiments are coming from, so we know how to reignite the passion for work,” says Farin.

The Lack of Leadership Ambition Extends to Politics

Further results from the survey show that the Global South countries demonstrate a higher aspiration for leadership roles and entrepreneurial ventures. Notably, 76% in India express a desire to run or manage a company, followed by 66% in Brazil and 54% in China. In contrast, the UK (52%), the US (49%), France (37%), and Germany (36%) trail in these aspirations. The global lack of leadership ambition extends to politics, with respondents deeming it the least desirable career across most countries. Only 19% express a motivation to make a positive impact, with 51% prioritizing financial stability and 39% aiming for a specific lifestyle.

Looking at these results, Farin emphasizes a further concern, “In surveying individuals with at least a bachelor’s degree across various countries, our results prompt a crucial question: If most professionals lack ambition for high-level leadership, who will shape the future of economies and societies? Our societies rely on people, their expertise, and motivation. Are we approaching a future where we question not only corporate leadership but also national leadership?”

About the Survey

An online survey was conducted and gathered insights from 8,000 participants, with 1,000 respondents from each of the following countries: Brazil, China, France, Germany, India, Poland, the US, and the UK.

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The survey aimed for representativeness across these diverse nations, capturing perspectives from individuals aged 20 to 60 (Gen Z: 20-26, Young Millennials: 27-34, Old Millennials: 35-42, Gen X: 43-60), all possessing at least a bachelor’s degree. Where applicable, reported results represent the top two answer sets (strongly agree/agree).

About Amrop

Amrop is a global leadership consulting firm, offering retained executive search, Board and leadership advisory services. We advise the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next – adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas across 69 offices in 57 countries.

www.amrop.com 

Contact:
The Amrop Partnership SC
Rue Abbé Cuypers 3
1040 Brussels, Belgium
T. +32 471 733 825
E. [email protected]
Brigitte Arhold, COO

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