Financial Analytics Market Scenario:
The global financial analytics market is expected to register a CAGR of 10.4% during the forecast period to reach USD 11.58 billion by 2027. A financial analytics software enablesfinancial managers and other executives to spend minimum time in collecting financial and operational data. The time is instead utilized for modeling scenarios and forecasting results. The software provides financial business intelligence which gives a 360-degree view of the entire business.
The executives gain enhanced visibility into costs, resources, and performance; this helps them in improving accuracy, efficiency, controls, and auditability thus enabling them in making major strategic decisions. The major factors boosting market growth are the need for data driven financial decisions in the end users. Advancements in business intelligence (BI) and business analytics tools is also driving market growth. Also, the technological advancements in artificial intelligence (AI) and machine learning, and the growing adoption of predictive analytics offer lucrative opportunities for solution providers in the market. However, concerns regarding privacy and security can prove to be restraints for market growth.
The crippling effect of the global COVID-19 pandemic has detained the growth potential of the Financial Analytics Market. This MRFR report on the Financial Analytics Market indicates critical pointers that may emerge as growth hubs in the future. Moreover, in-depth data analysis is estimated to offer a clearer growth perspective to market participants.
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The key players in the global financial analytics market are Fair Isaac Corporation (US), Oracle Corporation (US), TIBCO Software Inc. (US), IBM Corporation (US), Zoho Corporation (India), Google (US), SAP (Germany), MicroStrategy Incorporated (US), TABLEAU SOFTWARE (US), Teradata (US), SAS Institute Inc. (US), Rosslyn Data Technologies (UK), Deloitte Touche Tohmatsu Limited (US), QlikTech International AB (US) and ALTERYX, Inc. (US).
- By component, the global financial analytics market has been divided into software and services. The software segment is expected to have a larger market share, while the services segment is projected to register the higher CAGR during the forecast period.
- Based on deployment mode, the market has been segmented into cloud-based and on-premise. The cloud-based segment is expected to exhibit higher CAGR during the forecast period due to the increasing adoption of the cloud technology globally.
- Based on organization size, the market has been segmented into large enterprises and small and medium enterprises (SME). The large enterprises segment is expected to have a greater market size during the review period. Large organizations extensively deploy financial analytics to optimize employee productivity.
- The application segments of the global financial analytics market has been divided into governance, risk, and compliance management; customer management, wealth management, financial forecasting and budgeting, transaction monitoring, stock management, fraud detection and prevention, and others.
The global financial analytics market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market with the US being a technologically advanced country deploying these solutions with the maximum number of leading market players.
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Table of Contents:
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Buying Criteria
2.5 Macro Factor Indicator Analysis
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Insights
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