North America IoT in BFSI Market

North America IoT in BFSI Market was valued at 38.64 million in 2016 and is expected to grow at a CAGR of 14.5% between the forecast period of 2016 and 2024. The North America IoT in BFSI is segmented by Component (Security, Customer Experience Management, Monitoring, Data Management, Others), End-user (Banking, Insurance, Others), Organization Size (Small and Medium Sized Enterprises, Large Enterprises), and by Region (US, Canada) Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current North America IoT in BFSI Market outlook. The report encompasses the North America IoT in BFSI Market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the North America IoT in BFSI Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain the market positioning of competitors. Sensors and Wi-Fi are gradually transforming the interaction with the world around us, thereby bringing a new era of connectivity in the form of an Internet of Things. With the enhanced connectivity comes the chances to tap into the use of any data collected and opening up boundless opportunities for business, communities, and personal benefits. Already there are game-changing applications for the banking and services sector being trialed and implemented globally, other words known as "Bank of Things". Banks are considering how big data have potentially transformed what they offered to customers, modifying their relationship with them. The bank of things in this new world has developed for the banks to become more trusted in the following areas: • Upholder of the customer’s data to help in managing privacy and control sharing • Infomediary involving acting as an adviser between the customer and sellers • Expenses manager for the customer’s things. Customers nowadays demand convenient and personalized services whenever possible. A large number of people are opting for online banking, mobile banking apps, and contactless payment technologies thereby opening a new set of opportunities for the market growth.

The component segment will be one of the key segments for North America IoT in BFSI market, especially the security and data management sub-segments that are expected to hold significant market share as well. Both the professional and managed services will continue to be the key areas for development of North America IoT in BFSI market. One such example would be, Alfa-Bank Sense that is an advanced mobile application delivering real-time predictions of customer behavior along with offering the services they might need. It’s more gentle and personal than the normal ordinary bank app and communicates just like Facebook Messenger. U.S. and Canada are the regions being profiled under the North America IoT in BFSI Market.

The technological advancements in the banking sector for making customers enjoy banking services at their own comfort has been a major factor to boost the North America IoT in BFSI market. Moreover, features such as smart banking and easy transfer of money from the account have been possible because of IoT and provide numerous growth opportunities in future as well.

Market Scope: • Component o Security o Customer Experience Management o Monitoring o Data Management o Others • End User o Banking o Insurance o Others • Organization Size o Small and Medium Sized Enterprises o Large Enterprises Key Players operating in the Market: • Verizon Communications • Oracle • Fluxgen Technologies • SenseGiz • Altiux Innovations • Honeywell • Cisco Systems Inc. • Schneider Electric • Google • Happiest Minds • EVRYTHNG • Bosch Software Innovation • Software AG • AT&T • CSS Security • Tellenium • AIG • Fintech • IBM • Covacsis

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