Overview
and Scope
Financial analytics is the creation of ad hoc analysis to answer specific
questions and shape the business strategy through reliable and factual
insights. The financial analytics are used to gain deep knowledge and forecast
future financial scenarios. Excel, PowerPoint, and Word are the most popular
financial analysis tools, and these programs are used to develop financial
models, reports, and presentations for the senior management of a company or
for customers.
Sizing and Forecast
The financial analytics market size has grown rapidly in recent years. It will
grow from $9.55 billion in 2023 to $10.68 billion in 2024 at a compound annual
growth rate (CAGR) of 11.9%. The growth in the historic period can be
attributed to data explosion in finance, regulatory compliance, demand for
real-time insights, risk management needs, increased complexity in financial
instruments, strategic decision-making..
The financial analytics market size is expected to see rapid growth in the next
few years. It will grow to $16.23 billion in 2028 at a compound annual growth
rate (CAGR) of 11.0%. The growth in the
forecast period can be attributed to customer-centric approaches, globalization
of financial markets, cybersecurity concerns, open banking initiatives.. Major
trends in the forecast period include advanced analytics and artificial
intelligence (ai), cloud-based financial analytics solutions, use of big data
analytics, personalization in financial services, blockchain and cryptocurrency
analytics, employee productivity and efficiency. .
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Segmentation & Regional Insights
The financial analytics market covered in this report is segmented –
1) By Component: Solution
2) By Deployment Mode: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small & Medium Sized
Enterprises
4) By Application: Wealth Management, Governance, Risk & Compliance
Management, Financial Forecasting & Budgeting, Customer Management,
Transaction Monitoring, Stock Management, Other Applications
5) By Industry Vertical: BFSI, IT and Telecom, Manufacturing, Retail and
E-Commerce, Government, Healthcare, Other Industries
North America was the largest region in the financial analytics market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the financial analytics market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
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Major Driver Impacting Market Growth
The emergence of big data is driving the financial analytics market. Big data
refers to large and more complex data sets that arrive in increasing volumes
from various data sources. The emergence of big data in financial decisions has
led to solutions such as financial analytics that can handle large amounts of
data and provide valuable solutions. For example, in 2021, according to the
Investment Banking Council of America, 80% of financial institutions are using
big data tools. Therefore, the emergence of big data is driving the growth of
the financial analytics market.
Key Industry Players
Major companies operating in the financial analytics market report are Alteryx
Inc., Infor Inc., Domo Inc., Fair Isaac Corporation, GoodData Corporation,
Information Builders Inc., International Business Machines Corporation,
Microsoft Corporation, Oracle Corporation, QlikTech International AB, Rosslyn
Data Technologies Plc, SAP SE, SAS Institute Inc., Teradata Corporation, TIBCO
Software Inc., RIB Datapine GmbH, Salesforce Inc., Deloitte Touche Tohmatsu
Limited, Hitachi Vantara Corporation, Symphony Teleca Services Inc., Databricks
Inc., RAMP Inc., SparkCognition Inc., Fraud.net Inc., Ecolytiq GmbH, Elementus,
MindBridge Analytics Inc., Moody's Corporation, Wealthfront Inc., Ellevest
The financial analytics market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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