Financial Markets Sector ICT Market Size and Forecast (by Country, IT Solution Area and Vertical) to 2027
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Financial Markets Sector ICT Market Overview
The global financial markets sector ICT market was valued at US$ 105.57 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 11.83% to reach US$ 184.67 billion by 2027. The cumulative revenue generation for ICT in the financial markets sector is estimated at US$ 838.88 billion for 2022-2027.
Financial Markets Sector ICT Market Outlook, 2022-2027 (US$ Billion)
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The ‘Financial markets Sector ICT Market’ opportunity forecast report provides the total addressable market for ICT solutions in the financial markets sector from 2019 to 2027.
Market Size (2022) | US$ 105.57 billion |
Market Size (2027) | US$ 184.67 billion |
CAGR (2022-2027) | 11.83% |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key IT Solutions | • Application Development and Management (3 Products/Services)
• Artificial Intelligence (4 Products/Services) • Business Process Applications (9 Products/Services) • Business Process Outsourcing (6 Products/Services) • Client Computing (10 Products/Services) • Cloud Computing (7 Products/Services) • Financial markets and Collaboration (10 Products/Services) • Consulting & Integration Services (3 Products/Services) • Data and Analytics (6 Products/Services) • Data Center and Hosting (2 Products/Services) • Edge Computing (11 Products/Services) • Internet of Things (IoT) (3 Products/Services) • IT Management (11 Products/Services) • Mobility (5 Products/Services) • Networking (18 Products/Services) • Security (17 Products/Services) • Servers (4 Products/Services) • Storage (7 Products/Services) |
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Financial Markets Sector ICT Market Segmentation by Region
The ICT market in the financial markets sector is geographically segmented into North America, South and Central America, Western Europe, Central and Eastern Europe, Middle East and Africa, and the Asia Pacific.
The North America region dominated the financial markets ICT market with a revenue share of 32.9% in 2022. Undoubtedly, the US was the major contributor to the financial markets sector ICT market growth in this region. On the other hand, Asia Pacific and Western Europe were the second and third-largest revenue contributors with shares of 26.7% and 20.8%, respectively.
Financial Markets Sector ICT Market Share by Region, 2022 (%)
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Financial Markets Sector ICT Market Segmentation by IT Solution
Cloud computing, client computing, networking, consulting and integration services, business process outsourcing, internet of things (IoT), communications and collaboration, application development and management, business process applications and IT management among others are a few of the key end-use industries of IT Solutions in their operations.
In terms of IT solutions end-use segments, cloud computing was the leading segment with a market share of 16.1%, followed by client computing. However, artificial intelligence is expected to be the fastest-growing segment with an estimated CAGR of 34.52% during the forecast period.
Financial Markets Sector ICT Market Share by IT Solution, 2022 (%)
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Scope
- This product provides revenue opportunity forecasts for ICT products and services in the financial markets sector from 2019 to 2027.
- The revenue opportunity forecasts for the market cover 18 IT solutions, 133 products/services, 6 regions, and 52 geographies. The details of the IT solutions and the corresponding products/services have been provided.
Key Highlights
- The global ICT in the financial markets sector market is expected to grow at a CAGR of 83% during the forecast period.
- The sector’s top three product/service categories – SaaS, Systems Design and Integration and Application Development.
- North America is expected to be the highest regional contributor with a market share of 9%, in the global ICT market in the financial markets sector, during the forecast period. Asia Pacific and Western Europe will follow with market shares of 26.7% and 20.8%, respectively. The Middle East Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 19.6%.
- SaaS is expected to be the leading product/service segment of the ICT in the financial markets sector market during the forecast period.
Reasons to Buy
- Assess the historical data (past 4 years), current state, and expected growth (next 5 years) of ICT in the financial markets sector.
- Identify the fastest growing products/services within ICT in the financial markets sector
- Determine the most lucrative IT Solution for ICT in the financial markets sector by reviewing their current contribution to the overall ICT in the financial markets sector market and their expected input toward the market growth over the next 5 years.
- Identify the geographies/countries that would support the ICT market in the financial markets sector over the next 5 years.
- Build proactive and profitable growth strategies thorough our forward-looking analysis of financial markets sector enterprise ICT investment trends and key opportunities in a concise format to help executives.
Frequently asked questions
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What was the ICT in the financial markets sector market size in 2022?
The global financial markets sector ICT market size was estimated at US$ 105.57 billion in 2022 and is expected to reach US$ 114.296 billion in 2023.
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What will the ICT in the financial markets sector market growth rate be by 2027?
The financial markets sector ICT market is expected to grow at a compound annual growth rate of 11.83% over the forecast period to reach US$ 184.67 billion by 2027.
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Which IT Solution led the ICT in the financial markets sector market in 2022?
Cloud computing was the largest vertical in the financial markets sector ICT market with 16.1% market share in 2022.
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Which region accounted for the largest financial markets sector ICT market share in 2022?
The North America region dominated the financial markets sector ICT market with 32.9% market share in 2022.
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