According to IMARC Group latest report titled” Financial Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global financial analytics market size to grow at a CAGR of around 12% during 2021-2026. Financial analytics is the process of assessing the viability, stability and profitability of a business or project. It is utilized to arrange data in a proper format that helps support compliance and decision-making. Financial analytics tools assist businesses in making informed decisions, generating sales and enhancing defense mechanisms while maintaining a competitive edge in the market. As a result, these solutions find extensive applications across the banking, financial services, and insurance (BFSI), telecom and information technology (IT), retail and e-commerce, and media and entertainment industries.
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.
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The global market is majorly driven by continual digital transformations across the BFSI sector. Moreover, there has been a considerable rise in the adoption of advanced analytics and cloud computing solutions across multiple industries to gauge customer attention, which, in turn, is providing an impetus to the market growth. Furthermore, various small and medium-sized enterprises (SMEs) are now utilizing financial analytics solutions to generate profits and ensure improved financial performance of their businesses, thereby favorably impacting the market growth. Some of the other factors contributing to the market growth include the widespread integration of financial analytics with artificial intelligence (AI) and significant expansion in the retail and e-commerce sectors.
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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 (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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