Financial analytics solution enable end users to manage their financial resources and answer specific business questions associated with budget, cost, and revenue. Presently, end users need predictive insights that can help them build effective business strategies to improve their day-to-day decision making.
Continuous advancements in business intelligence and business analytics solutions increase the adoption of analytical tools and services among various end-user organizations. Furthermore, increase in need to monitor and analyze huge volume of unstructured data along with rise in need for data transparency drive the market growth. However, data security is one of the major factors, which hampers the market growth. On the contrary, financial analytics solutions play a crucial role in improving the conventional and unconventional operations in the industries. Emerging markets, such as Latin America, the Middle-East, and Africa are expected to present significant growth opportunities for prominent players, owing to the limited penetration of financial analytics solutions and infrastructure in the region
The financial analytics market is segmented on the basis of component, deployment mode, organization size, industry vertical, and region. Depending on the component, it is segmented into solution and service. The solution segment is further sub segmented into database management system (DBMS), data integration tools, query, reporting and analysis, analytics solutions, and others. According to deployment mode, it is segmented into on-premise and cloud. As per organization size, it is segmented into large enterprises and small-medium enterprises. By industry vertical, it is segmented into BFSI, IT and telecom, manufacturing, retail and E-commerce, government, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the financial analytics market are Deloitte LLP, Hitachi Vantara Corporation, International Business Machine Corporation, Microsoft Corporation, Oracle, Rosslyn Data Technologies, SAP SE, Symphony Teleca Services, Inc., Teradata Corporation, and TIBCO Software, Inc.
Continuous advancements in business intelligence and business analytics solutions increase the adoption of analytical tools and services among various end-user organizations. Furthermore, increase in need to monitor and analyze huge volume of unstructured data along with rise in need for data transparency drive the market growth. However, data security is one of the major factors, which hampers the market growth. On the contrary, financial analytics solutions play a crucial role in improving the conventional and unconventional operations in the industries. Emerging markets, such as Latin America, the Middle-East, and Africa are expected to present significant growth opportunities for prominent players, owing to the limited penetration of financial analytics solutions and infrastructure in the region
The financial analytics market is segmented on the basis of component, deployment mode, organization size, industry vertical, and region. Depending on the component, it is segmented into solution and service. The solution segment is further sub segmented into database management system (DBMS), data integration tools, query, reporting and analysis, analytics solutions, and others. According to deployment mode, it is segmented into on-premise and cloud. As per organization size, it is segmented into large enterprises and small-medium enterprises. By industry vertical, it is segmented into BFSI, IT and telecom, manufacturing, retail and E-commerce, government, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the financial analytics market are Deloitte LLP, Hitachi Vantara Corporation, International Business Machine Corporation, Microsoft Corporation, Oracle, Rosslyn Data Technologies, SAP SE, Symphony Teleca Services, Inc., Teradata Corporation, and TIBCO Software, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the financial analytics market forecast analysis from 2021 to 2030 to identify the prevailing financial analytics market analysis.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- In-depth analysis of the financial analytics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global financial analytics market share.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global financial analytics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- On-Premise
- Cloud
By Organization Size
- Large Enterprises
- Small Medium Sized Enterprises
By Industry Vertical
- BFSI
- IT and Telecom
- Manufacturing
- Retail and E-Commerce
- Government
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Deloitte LLP
- Hitachi Vantara Corporation
- International Business Machine Corporation
- Microsoft Corporation
- Oracle Corporation
- Rosslyn Data Technologies
- SAP SE
- Symphony Teleca Services, Inc.
- Teradata Corporation
- TIBCO Software Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FINANCIAL ANALYTICS MARKET, BY COMPONENT
CHAPTER 5: FINANCIAL ANALYTICS MARKET, BY DEPLOYMENT MODE
CHAPTER 6: FINANCIAL ANALYTICS MARKET, BY ORGANIZATION SIZE
CHAPTER 7: FINANCIAL ANALYTICS MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: FINANCIAL ANALYTICS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Financial Analytics Market,' the financial analytics market was valued at $7.6 billion in 2020, and is estimated to reach $19.8 billion by 2030, growing at a CAGR of 10.3% from 2021 to 2030.The ever-changing business and financial scenario has made it imperative for end-users to stay well-informed in their respective domain to effectively tackle competition. Role of financial management and analytics has transformed and expanded over the past decades. Presently, financial management analytics is more complex and certainly experience more demand.
Increase in pressure from stakeholders or investors for higher transparency, rise in expectations for effective partnering, changing regulatory environment, and surge in continuous economic uncertainty are some of the key factors influencing end users to adopt advanced financial analytics solutions and services. Furthermore, key analytical areas, such as profitability management, cost management, value for money analytics, business risk management, tax management, and regulatory compliance encourage enterprises to increase their expenditure on analytical solutions to gain higher efficiency and valuable-insights. Moreover, enterprises operating across the verticals are inclined toward employing talented and skilled workforce to analyze huge volume of raw data.
Organizations across the globe deploy advanced financial analytical solutions to improve their process while using the information gleaned from the intelligence discovery process. At present, information is a key strategic asset that organization uses to compete. Thus, end users capitalize the information to acquire the insights and build intelligence to respond more effectively to changing business environment.
Advancement in the field of artificial intelligence (AI) market and growth in cloud disruption in the modern industry boost the growth of the global financial analytics market. In addition, availability of advanced analytical tools and prediction solutions positively impacts the growth of the market. However, huge requirement and high dependency on data, lack of experienced professionals, and difficulties in training multilayer financial analytics hamper the market growth. On the contrary, growth in application areas for deep financial analytics is expected to offer remunerative opportunities for expansion of the market during the forecast period.
Depending on industry vertical, the BFSI segment holds the largest market share of financial analytics market, owing to rapid adoption of financial analytics software by various fintech and banking institutions for providing personalized service and automated voice systems to the customer. However, the retail and E-commerce segment is expected to grow at the highest rate during the financial analytics market forecast period, owing to process and record financial & production data, manage plant-level strategies, and account for material, capacity, and labor constraints.
Region wise, the financial analytics market was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to technological advancements and new strategies applied by the major companies such as, Google, Microsoft, and Facebook to adopt AI as core strategic driver for business. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to industrialization and demand for efficient technologies in industries, such as retail, IT & telecom, banking, financial services and insurance(BFSI), and growth of manufacturing & healthcare sectors in countries, such as China, India, and Japan.
The outbreak of COVID-19 positively impacts the financial analytics market size. The demand for financial analytics tools increased during the pandemic as enterprises started to adopt work from home, thus managing all the financial requirements of the company became a difficult task since there was no human intervention. Therefore, enterprises adopted financial analytics tools to carry on their financials and manage work efficiently.
Key findings of the Study
- Depending on component, the solution segment accounted for the largest financial analytics market share in 2020.
- On the basis of deployment mode, on-premise segment generated the highest revenue in the financial analytics market analysis.
- According to industry vertical, the BFSI segmented generated the highest revenue in 2020.
- By organization size, large enterprises segment accounted for the highest revenue in 2020.
- Region wise, North America generated the highest revenue in 2020.
Companies Mentioned
- Deloitte LLP
- Hitachi Vantara Corporation
- International Business Machine Corporation
- Microsoft Corporation
- Oracle Corporation
- Rosslyn Data Technologies
- SAP SE
- Symphony Teleca Services, Inc.
- Teradata Corporation
- TIBCO Software Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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