The market for financial analytics is projected to grow at a CAGR of 11.3% between 2022 and 2032. The desire for solutions that can handle enormous volumes of data and provide essential insights will play a critical part in boosting analytics in the finance domain as a result of the growing importance of data-driven financial decisions in various end-user industries and the emergence of big data.
This decision-making tool has highlighted the need for data for financial analysis in light of the COVID-19 pandemic. Financial services are modifying and modernizing their digital business structures quickly in response to the COVID-19 pandemic.
The phrase “financial analytics market” refers to the practice of analyzing financial data using advanced analytical techniques and software to obtain knowledge that can be applied to inform business decisions. Financial analytics encompasses a wide range of activities, including forecasting, performance analysis, risk management, and financial modeling.
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The market for financial analytics solutions and services has been growing quickly in recent years as a result of factors like the increasing volume and complexity of financial data, the demand for more precise and timely insights, and the appearance of new technologies like artificial intelligence and machine learning.
The financial analytics market is made up of a wide range of players, including software vendors, consulting firms, and financial services providers.
Key segments of the market include:
- Financial Analytics Software: This includes software applications that enable financial professionals to perform tasks such as financial modeling, forecasting, and risk analysis. Some of the leading vendors in this market include IBM, Oracle, SAP, and SAS.
- Financial Consulting Services: These are professional services provided by consulting firms to help organizations with financial planning, analysis, and reporting. Leading players in this market include Deloitte, PwC, EY, and KPMG.
- Financial Data Providers: These are companies that provide financial data and analytics to financial professionals. Examples of financial data providers include Bloomberg, Thomson Reuters, and S&P Global.
- The financial analytics market is expected to continue to grow in the coming years, driven by factors such as the increasing use of big data analytics and the growing demand for real-time insights. The market is also likely to see increased competition as new players enter the market and existing players continue to invest in new technologies and solutions.
How is the Competition Landscape in the Financial Analytics Market?
Some of the major financial data analytics companies are
- SAP A.G.,
- International Business Machines Corporation (IBM),
- Oracle Corporation,
- TIBCO Software Inc., and
- MicroStrategy Inc.,
These vendors offer financial analytics either in the format of individual solutions or incorporated into business intelligence suites.
The other companies in the financial analytics market include Deloitte Touche Tohmatsu Limited, Hitachi Consulting Corporation, Information Builders, Fair Isaac Corporation (FICO), Microsoft Corporation, Symphony Teleca Corp., Teradata Corp, Tableau Software Inc., Rosslyn Analytics Ltd. and SAS Institute Inc. among others.
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Key Segments
By Type:
- Data integration tool
- Database Management System (DBMS)
- Query
- OLAP and visualization tools
- Reporting and analysis
- Analytical solutions
- Consulting and support services
- Others
By Application:
- Assets and liability management
- Payables management
- Budgetary control management
- Profitability management
- Receivables management
- Governance and Risk and Compliance (GRC) management
By Deployment Type:
- On-premise
- Cloud-based
By End Use:
- Banking, Financial Services & Insurance (BFSI)
- Food & Beverages
- Transportation & Logistics
- Consumer Goods & Retail
- Healthcare and Life Sciences
- Government
- Manufacturing
- Travel and Hospitality
- Media and Entertainment
- Telecommunication and IT
- Public Sector
- Energy and Utilities
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East and Africa
Table of Content
1. Executive Summary | Financial Analytics Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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