The financial analytics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Financial Analytics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The financial analytics market size has grown rapidly in recent years. It will grow from <b>$9.55 billion in 2023 to $10.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. </b> 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 <b>$16.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. </b> 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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Scope Of Financial Analytics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Financial Analytics Market Overview
Market Drivers –
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.
Market Trends –
The adoption of artificial intelligence (AI) in the financial sector is growing in popularity and has become a key trend in the financial analytics market. Key players in financial analytics are adopting AI to gain a competitive edge in the market. For example, in February 2022, Prophix, a Canada-based Corporate Performance Management (CPM) software company, launched the first virtual financial analyst in the industry, an AI-powered virtual assistant that uses natural language to boost CPM effectiveness. Mid-sized firms’ finance teams use Prophix’s software to automate their financial planning, budgeting, and forecasting. Finance professionals can concentrate on the more strategic tasks that have a greater influence on the bottom line of the company by automating these data-centric and time-consuming tasks. Given this, conversational AI and other cutting-edge technologies are ideal for the financial planning and analysis (FP&A) sector.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Financial Analytics Market characterstics
3. Financial Analytics Market Trends And Strategies
4. Financial Analytics Market – Macro Economic Scenario
5. Global Financial Analytics Market Size And Growth
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31. Global Financial Analytics Market Competitive Benchmarking
32. Global Financial Analytics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Financial Analytics Market
34. Financial Analytics Market Future Outlook and Potential Analysis
35. Appendix
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