Financial Analytics Market Synopsis:
The need to take data-driven financial decisions is spurring financial analytics. Reports that investigate the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. A CAGR of 10.4 % during the forecast period is expected to encourage the market to reach USD 11.58 billion by 2024.
The incremental growth in business intelligence is expected to have a favorable influence on the growth of the market. Moreover, the incremental use of business analytics tools is expected to further the market share of financial analytics. Also, the establishment of financial regulations and standards is estimated to spur the financial analytics market in the forecast period.
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Competitive Analysis:
The instabilities in global currency are predicted to become stable and consequently place a beneficial impact on the market. The upturn of investment into physical capital is estimated to underpin the market’s growth in the forecast period. The market is being distinguished by the instrumental forces that are applying an imposing influence. The upgrades in the mining of natural resources are further supporting market expansion advancement.
The improvement of substitute raw material resources is likely to further concentrate on the supply demands in the market. The progress in the efficacy of production facilities is buttressing the market’s growth pace in the coming years. Also, inventions in technology are anticipated to exercise a constructive inspiration on the enhancement of the market. The influence of governmental plans is stirring additional evolution of the market. The revivals carried out in the logistic chain are projected to produce favorable possibilities for progress in the coming period.
The well-known contenders in the Financial Analytics Market are Google (US), SAP (Germany), TABLEAU SOFTWARE (US), Zoho Corporation (India), SAS Institute Inc. (US), Rosslyn Data Technologies (UK), Deloitte Touche Tohmatsu Limited (US), QlikTech International AB (US), MicroStrategy Incorporated (US), and ALTERYX, INC. (US).
Segmental Analysis:
The evaluation of the segments in the financial analytics market has been segmented on the basis of vertical, deployment, organization size, component, application, and region/country.
- On the basis of the component, the financial analytics market has been split into software and service.By deployment mode, the financial analytics market has been segmented into cloud and on-premise.
- On the basis of the organization size, the financial analytics market has been segmented into large enterprises and small & medium-sized enterprises (SMEs).
- On the basis of application, the financial analytics market has been segmented into risk and compliance management, customer management, fraud detection and prevention governance, wealth management, transaction monitoring, stock management, financial forecasting and budgeting, and others.Based on the vertical, the financial analytics market has been segmented into retail & e-commerce, banking, healthcare and life sciences, financial services and insurance (BFSI), government and defense, energy and utilities, telecommunication and IT, transportation and logistics, manufacturing and automotive, and others.
Detailed Regional Analysis:
The geographic analysis of the financial analytics market covers North America, Europe, Asia-Pacific, and the rest of the world.The financial analytics market is projected to expand during the forecast period from 2019 to 2024.The North American region is accountable for the maximum market share due to the speedy implementation of financial analytics.
The US, Mexico, and Canada are the foremost countries in the region. The BFSI, retail and e-commerce, and government verticals are anticipated to be the important verticals which are exploiting financial analytics solutions in the North American region. The US and Canada are observing high implementation of advanced technologies for improved management of resources, which consist of financial analytics solutions.
The European region is forecasted to be the succeeding principal region during the forecast period owing to the growing demand for financial analytics solutions owing to the increasing adoption in the BFSI sector. The Asia Pacific region is appraised to be the fastest increasing market in the financial analytics market through the forecast period. A speedily increasing number of enterprises implementing these solutions across the retail and e-commerce and BFSI industries and the intensifying need for lowering planning and planning cycles in the region are the vital driving factors for the progress of the financial analytics market in the Asia Pacific region.
Table of Contents
1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Financial Analytics Market, By Component
1.1.2 Global Financial Analytics Market, By Deployment
1.1.3 Global Financial Analytics Market, By Organization Size
1.1.4 Global Financial Analytics Market, By Application
1.1.5 Global Financial Analytics Market, By Vertical
1.1.6 Financial Analytics Market, By Region
Continued…
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List of Tables
Table 1 Global Financial Analytics Market, By Region, 2017–2023
Table 2 North America: Financial Analytics Market, By Country, 2017–2023
Table 3 Europe: Financial Analytics Market, By Country, 2017–2023
Continued…
List of Figures
Figure 1 Global Financial Analytics Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of The Global Financial Analytics Market
Continued…
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