- The key vendors in the Global Risk IT and Services Market in BFSI Sector 2014-2018 are Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd. (EY), KPMG LLP, PwC and RUBINBROWN LLP.
London, 24 September 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Risk IT and Services Market in BFSI Sector 2014-2018. The most prominent trend upcoming in this market is the increased emphasis towards social media utilization. Social media is a major platform from which to gather data but along with this, regulatory compliances are also increasing. Hence, companies are looking for solutions that can help them meet compliance issues at the optimal price. The Global Risk IT and Services market in the BFSI sector is forecast to grow at a CAGR of 6.34 percent during the period 2013-2018.
The Global Risk IT and Services market is witnessing an increase in the number of innovations and also in market consolidation, which is leading toward its development. Organizations are increasingly expecting greater ROI from the adoption of risk IT solutions as well as ease of use and reduced overhead costs. In addition, firms with specific requirements such as assurance risk services, application risk services, infrastructure risk services, and data risk services are looking for solutions that can address their immediate needs but which are flexible enough to support future needs.
“The speed with which companies are turning to social media combined with the rapid changes in technology make social media a constantly evolving world with the need to maintain regulatory compliance,” says Faisal Ghaus, Vice President of TechNavio Research.
“The risk IT and services vendors deeply understand the strategy and policy development, assessment of current governance programs, and the enhancement of ERM programs to incorporate social media data.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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