The global financial analytics market reached a value of US$ 9.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2027, exhibiting a CAGR of 11.39% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Financial analytics (FA) refers to the investigation of financial statements of an organization through software-based programs. It aims to provide accurate business insights and forecast economic scenarios. The obtained insights are represented numerically and graphically on a digital dashboard to improve business strategy and routine decision-making. FA utilizes business intelligence (BI) and analytical tools for asset and liability management, budgetary control, compliance and risk management. Owing to these benefits, FA finds extensive applications across the banking, financial services and insurance (BFSI), healthcare, manufacturing and information technology (IT) industries.
The rising trend of digitization, along with the increasing adoption of cloud computing across the globe, is among the key factors driving the growth of the market. Various medium- and large-scale organizations are adopting FA solutions for efficient financial planning and budgeting. FA solutions also aid in tracking customer behavior and monitoring revenue generation and expenses, along with the optimum utilization of resources. Furthermore, the integration of machine learning (ML) and artificial intelligence (AI) with FA is also providing a boost to the market growth, as they offer enhanced accuracy and resilience of financial decisions, along with risk mitigation and fraud detection capabilities. Additionally, the growing need to process large amounts of unstructured information for making data-driven organizational decisions is also contributing to the growth of the market. Other factors, including advancements in the BI and big-data (BA) tools, the thriving BFSI industry, along with the growing retail and e-commerce sectors, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global financial analytics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, component, application, organization size and vertical.
Breakup by Type:
Based on the type, database management system currently holds the majority of the market share.
Breakup by Component:
- Financial Function Analytics
- Financial Market Analytics
- Managed Services
- Professional Services
Based on the component, services currently hold the majority of the market share.
Breakup by Application:
- Wealth Management
- Governance, Risk & Compliance Management
- Financial Forecasting & Budgeting
- Customer Management
- Transaction Monitoring
- Stock Management
Breakup by Organization Size:
- Large Enterprises
- Small & Medium Enterprises
Breakup by Vertical:
- Telecom & IT
Based on the vertical, BFSI currently holds the majority of the market share.
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Based on geography, North America currently represents the biggest market for financial analytics.
The report has also analysed the competitive landscape of the market with some of the key players being Alteryx, Birst, Domo, Fair Isaac Corporation (FICO), Hitachi Vantara, IBM, Information Builders, Microsoft Corporation, Oracle Corporation, QlikTech International A.B, Rosslyn Data Technologies, SAP SE, SAS Institute, Teradata Corporation, Tibco Software, Zoho Corporation, etc.
|Base Year of the Analysis
|| Type, Component, Application, Organization Size, Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alteryx, Birst, Domo, Fair Isaac Corporation (FICO), Hitachi Vantara, IBM, Information Builders, Microsoft Corporation, Oracle Corporation, QlikTech International A.B, Rosslyn Data Technologies, SAP SE, SAS Institute, Teradata Corporation, Tibco Software and Zoho Corporation
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)