The global big data analytics in banking market is anticipated to grow at a CAGR of 28.5% during the forecast period (2021-2027). Banks record millions of transactions in real-time daily. The volume of data generated by the banks creates a challenge for the bankers. To make the recording of this transaction easy, banks use big data analytics that provides the platform for easy recording of the transaction. These data are used by the financial industry in many ways such as for boosting cyber security, cultivating customer loyalty, reducing customer churn, and many more by using innovative offerings to turn the banking experience of the customers more personalized. With the huge volume of data, banks try to find out innovative ideas and risk management solutions. In addition to this, gaining a better understanding of consumers and their preferences can only be done with the help of these data. Due to this, big data analytics in banking market is growing significantly. Furthermore, the increase in the deployment of things on the internet is also propelling the growth of the big data analytics in banking market.

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Big data analytics in banking market is segmented based on deployment type and application. Based on deployment type, the market is classified into on-premise and cloud. Based on the application type, the market is segmented into fraud detection and management, customer relationship management, feedback management, risk management, and others.

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The big data analytics in banking market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is estimated to hold the largest share in the market globally. The factors driving the growth of the market in the region include the increased financial frauds against the bank and other financial service institutes. In addition to this, the proliferation of digital services is also driving the growth of the market. Furthermore, technological advancements also propel the growth of the market in the North American region. However, Asia-Pacific is estimated to hold a significant CAGR during the forecast period. This is due to factors such as technological advancement and the digitalization of the banking sector.

Big Data Analytics in Banking Market – Segmentation
by Deployment Type
On-Premise Based
Cloud-Based
by Application
Fraud Detection and Management
Customer Relationship Management
Feedback Management
Risk Management
Other Application

Big Data Analytics in Banking Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
Accenture plc
Adobe Systems,Inc.
Alteryx, Inc.
Amazon.com, Inc.
Aspire Systems,Inc.
BigPanda, Inc.
Fractal Analytics Inc.
Gainsight, Inc.
Google, LLC
Hitachi Solutions, Ltd.
IBM Corp.
Microsoft Corp.
Nimbix, Inc.
Oracle Corp.
PeerIQ (CRB Group, Inc.)
Salesforce.com, Inc.
SAP SE
Tableau System, LLC
Teradata Corp.
ThetaRay, Ltd.

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