From predictions, recommendations, and advice to automated customer service agents and intelligent process automation, AI is changing the face of how we interact with computer systems.
Increased usage of BI software For a full, detailed list, view our report Key market challenge Data security, privacy, and migration issues For a full, detailed list, view our report Key market trend Increased investment in real-time architecture For a full, detailed list, view our report Key questions answered in this report What will the market size be in 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?
Mobile technology and social media are providing a cumulative number of sources for real-time data that can be leveraged by banks firms to gain a competitive advantage in the market. Many mid- and low-tier retail banks worldwide have shifted to the usage of BI software while large banks have devoted considerable funding to BI software.
It helps banks to gain insights into customer behavior and determine purchasing power.
It also supports functions such as reporting, analytics, and data management. Further, the report states that to adopt various technologies and enhance IT infrastructure requires huge amounts of investments. Hence, cost factor is one of the major challenges for this market.year’s Global banking outlook transforming banking for In retail banking, population growth and rising incomes will they expand into and which market segments they serve.
Global institutions will pursue only a few limited business lines, such as wealth management and high-value investment banking.
Market outlook of the retail IT spending market Publisherâ‚¬â„¢s research analyst predicts the global retail IT spending market to grow steadily at a CAGR of close to 4% during the forecast period.
Global Retail Banking IT Spending Market is expected to grow at a Compound Annual Growth Rate (CAGR) of +4% by This study provides an evaluation of aspects that . Technavio’s market research analysts project IT spending in retail banking to reach a little over USD billion in the next four years.
Over the past five years, cyber-attacks have significantly increased across the banking domain. Global retail bank IT spending is to set to rise % over the next four years to hit $ billion in , according to figures from Ovum. Market outlook of the retail IT spending sector.
Research's analyst predicts the overall retail IT spending sector to grow steadily at a Compound annual growth rate of close to percent during the forecast time frame.