Category : ICT | Published at : March-2021 | Delivery Format : PDF | Status: Published | Pages : 190
The market for financial analytics is expected to grow at a CAGR of around 10.5% from 2020 to 2027 and expected to reach the market value of around US$ 16,879.8 Mn by 2027.
Financial analytics refers to the assessment of the stability, viability, and profitability of a business, sub-business, or project, particularly to answer specific business questions as well as to forecast possible future financial scenarios. Additionally, the goal of financial analytics is to shape the strategy for business through reliable, factual insight instead of intuition. Financial analytics is a prominent part of business either small, medium-sized enterprises or large enterprises. These help in predicting and planning for future growth.
Market Dynamics
The increasing need for reducing planning and budgeting cycles across the end-use industry verticals is driving the market growth. The rapid emergence of new information technology (IT) applications and infrastructures such as big data and advanced analytics are further bolstering the market growth. The rising focus on minimizing planning and budgeting cycles, digital transformation initiatives, and increased awareness about applications of financial analytics solutions is additionally supporting the market growth. The increasing utilization of financial analytics solutions for improved visibility into expenses, revenue, and resource utilization is further bolstering the market value. Furthermore, increasing adoption of predictive analytics across industry verticals as well as the evolution of artificial intelligence (AI) and machine learning are expected to create potential opportunities over the forecast period from 2020 to 2027.
On the other hand, the surge of new regulations and financial standards are likely to limit the growth over the forecast period from 2020 to 2027.
Segment Instance of Global Financial Analytics Market
Cloud deployment is anticipated to experience fastest growth over the forecast period
On the basis of deployment mode, cloud-based deployment is projected to exhibit the fastest growth over the forecast period from 2020 to 2027. The advantages associated with the cloud-based deployment like less requirement of hardware and associated space, speed of deployment, 24x7 availability, and ease of scalability are supporting the segmental market value.
North America having maximum revenue share in the Financial Analytics Market
In 2019, North America is leading the market with maximum revenue share (%) and projected to maintain its dominance over the forecast period from 2020 to 2027. The presence of major players in the region is primarily supporting the market growth. The early adoption of advanced technologies in the region is accelerating the regional market value.
Asia Pacific is anticipated to experience fastest growth over the forecast timeframe from 2020 to 2027
Asia Pacific is projected to exhibit the fastest growth with a major CAGR (%) over the forecast period from 2020 to 2027. The rapidly developing economies of the region including China and India are the major revenue contributors to the regional market value. The increasing investment by the organizations of developing economies on the strategic development due to available opportunities is further bolstering the regional market value.
The players profiled in the global financial analytics market report include Alteryx, Birst, Domo, Inc., FICO, GoodData, Google LLC., IBM, Information Builders, Oracle Corporation, Qlik, SAP SE, SAS Institute, Teradata, TIBCO Software, and Zoho Corporation.
Market Segmentation
Market By Industry Verticals
Solutions
Services
- Managed Services
- Professional Services
Market By Deployment modes
On-premises
Cloud
Market By Applications
Wealth Management
Governance, Risk, and Compliance Management
Financial Forecasting and Budgeting
Customer Management
Transaction Monitoring
Claim Management
Fraud Detection and Prevention
Stock Management
Market By Industry Verticals
Banking, Financial Components, and Insurance (BFSI)
Telecom and IT
Government
Energy and Utilities
Manufacturing and Automotive
Healthcare and Pharmaceutical
Retail and eCommerce
Media and Entertainment
Transportation and Logistics
Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for financial analytics is expected to reach a market value of around US$ 16,879.8 Mn by 2027.
The financial analytics market is expected to grow at a CAGR of around 10.5% from 2020 to 2027.
Cloud is the fastest growing segment by deployment modes in the financial analytics market
The increasing need for reducing planning and budgeting cycles, rapid emergence of new information Technology (IT) Deployment Modes and infrastructure, rising focus on minimizing planning and budgeting cycles, digital transformation initiatives, and increased awareness about Deployment Modes of financial analytics Applications are some of the key factors driving the market growth.
Alteryx, Birst, Domo, Inc., FICO, GoodData, Google LLC., IBM, Information Builders, Oracle Corporation, Qlik, SAP SE, SAS Institute, Teradata, TIBCO Software, and Zoho Corporation are the prominent players in the financial analytics market.
North America held the highest market share in the financial analytics market
Asia Pacific is expected to be the fastest growing market over the forecast period
