Market Trends of Big Data Engineering Services Industry
Big Data Analytics in Banking is Expected to Grow Significantly
- As technology develops, there are more devices being used by consumers to initiate transactions. The financial sector is evolving rapidly and introducing new services and goods to consumers. The actual difficulty is how fresh data is kept, connected to all the old data, and used in new product and services. Because clever data design can lead to more adaptable business models, data engineering is a crucial field.
- July 2022 - HDFC bank signed a deal with NIIT Institute of Finance, Banking and Insurance (NIIT IFBI), to train and hire Data Engineers. With the help of such programs, the BFSI sector will improve its digital skills, and students will be able to develop a solid career in data engineering and foster the use of analytics to gain business insights. The bank anticipates hiring close to 100 data scientists through this initiative each year.
- July 2022 - In order to expand the workforce for the digital economy, Commonwealth Bank teams up with Monash University and RMIT University to build a centre that will serve more than 400 software developers, cloud engineers, and cyber professionals. The program's goal is to advance banking innovation, technology, and competency.
Understand The Key Trends Shaping This Market
Download Sample
Asia Pacific to Hold Major Market Share
- The Asia Pacific region is expected to hold a significant market Due to the rapid growth of the internet, the smartphone generation, and urbanization. The demand for digital capabilities, particularly for talent in artificial intelligence/machine learning, big data analytics, and data science, has risen over the last five years.
- According to a NASSCOM survey, India is expected to have more than 1 million experts by 2024 due to the rising demand for Data Science & AI specialists. India ranked first in the report for AI talent concentration and skill penetration and fifth for AI scientific publications. India had a total installed skill base of 416K and a 629K overall demand for DS&AI as of August 2022. 46% of the total established talent comprises ML engineers and data engineers.
- March 2022 - To create a bank-wide data analytics program for high-potential employees working in data-related sectors, China Construction Bank Corporation (CCB) cooperated with HKU Business School. As a result of this relationship, the bank can better identify consumer needs for loans, financial products, and payments.
Get Analysis on Important Geographic Markets
Download Sample
