Financial Analytics Market to Witness Relatively Significant Growth During 2022-2027
According to IMARC Group latest report titled “Financial Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on financial analytics industry report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 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.
Financial analytics is a concept that offers distinct views on the financial data of a business. It is a subcategory of BI and EPM that influences every aspect of the business. It helps in getting in-depth knowledge and based on that, taking deliberate actions to improvise a business’s overall presentation. It aids companies in improvising income statements and business methods. These solutions are being utilized by various industries, such as BFSI, healthcare, IT and telecom, manufacturing, and government, for enhancing business operations.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is majorly driven by the increasing adoption of pervasive computing devices. In line with this, continual advancements in storage capabilities and innovation of new analytics tools are positively influencing the market. Furthermore, the growing awareness among end users about the benefits of financial analytics solutions is creating a positive outlook for the market. Apart from this, the ability of multiple firms to utilize the prospect of big data analytics for the telecom industry and the prospect of increased revenue for service providers via financial analytics are catalyzing the market. Moreover, the emergence of cloud-based technology is propelling the demand for financial analytics. Besides this, the necessity for real-time data for financial analysis and enhanced Internet of Things (IoT) coverage are strengthening the market. Additionally, the development of innovative business models, such as business-to-employee, business-to-consumer, and business-to-business, is also offering numerous opportunities in the financial analytics market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Fair Isaac Corporation (FICO)
- Hitachi Vantara
- Information Builders
- Microsoft Inc.
- Oracle Corporation
- Rosslyn Analytics
- SAS Institute
- Teradata Corporation
- Tibco Software
- Zoho Corporation
Financial Analytics Market Segmentation:
Our report has categorized the market based on region, type, component, application, organization size and vertical.
Market Breakup by Type:
- Database Management System (DBMS)
- Data Integration Tools
- Query, Reporting & Analysis
- Analytics Solutions
Market Breakup by Component:
- Financial Function Analytics
- Financial Market Analytics
- Managed Services
- Professional Services
Market Breakup by Application:
- Wealth Management
- Governance, Risk & Compliance Management
- Financial Forecasting & Budgeting
- Customer Management
- Transaction Monitoring
- Stock Management
Market Breakup by Organization Size:
- Large Enterprises
- Small & Medium Enterprises
Market Breakup by Vertical:
- Telecom & IT
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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