Insurance IT Spending Market in India 2015-2019
| Published: Nov 2015 | Pages: 76 | SKU: IRTNTR8010 |
About insurance
The insurance sector in India is expected to experience significant growth during the forecast period. However, it is moderately dependent on the recovery from recent recessions and economic crises. In addition, increased competition has pressurized insurers, challenging their investment strategy, existing business models and processes, product mixture, and operating structures. Existing business models have led to very low investment income and product margins. In order to reap greater investment benefits, investors are required to simplify their operations at a reduced cost.
The increase in digitalization is expected to grow the insurance market during the forecast period. It will also help insurance companies to reach customers in an efficient manner. The growing deployment of diverse banking solutions will lead to increased demand for IT services, such as IT consulting and system integration. As IT adoption increases, it also raises challenges such as the lack of IT literacy of insurance company employees, which, in turn, has driven the IT training services market in recent years.
Technavio's analysts forecast the insurance IT spending market in India to grow at a CAGR of 7.65% over the period 2014-2019.
Covered in this report
This report covers the current scenario and growth prospects of the insurance IT spending market in India for the period 2015-2019. To calculate the overall market size, the report considers the revenue generated through IT products such as hardware, software, and services by insurance firms in India.
The report also presents the vendor landscape and a corresponding detailed analysis of the key leading vendors. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key emerging trends.
Key vendors
- HP
- IBM
- Infosys
- TCS
- Wipro
Other prominent vendors
- 3i Infotech
- Accenture
- Acer
- Aegis
- Atom Technologies
- Capgemini India
- Cisco Systems
- CMS Infosystems
- CSC
- Dell
- Diebold
- Firstsource Solutions
- Genpact India
- HCL Technologies
- Hitachi
- iGATE Global Solutions
- JP Morgan
- L&T Infotech
- Microsoft
- MindTree
- Mphasis
- Netapp
- Newgen
- Nucleus Software
- Oracle
- Polaris
- Ramco Systems
- SAP
- Serco Global Services
- Syntel
- Tally
- Tech Mahindra
- WNS Global Services
- Wolters Kluwer
Key market driver
- Increased need to manage IT risks and service solutions
- For a full, detailed list, view our report
Key market challenge
- Requirement of high investment
- For a full, detailed list, view our report
Key market trend
- Social media as a marketing and collaboration medium
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Table of Contents
- Highlights
- Market overview
- Top-vendor offerings
- Research methodology
- Economic indicators
- Key market highlights
- Market overview
- Market size and forecast
- IT risks in business operations
- Risk Expenditures involved in insurance sector
- Five forces analysis
- Insurance hardware market in India
- Insurance software market in India
- Insurance services market in India
- Cloud Computing
- Big data and analytics
- Social media
- Mobility
- Competitive scenario
- Major key vendors
- Other prominent vendors
- HP
- IBM
- Infosys
- TCS
- Wipro
- List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
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Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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