In 2022, the size of the global financial analytics market was estimated at USD 7.99 billion. With a predicted CAGR of 11.4% over the forecast period, the market is expected to increase from USD 8.27 billion in 2023 to USD 18.71 billion by 2030.
The predictive analytics technique known as financial analytics evaluates data from financial statements. Businesses can use it to analyze their past and present performance, project their performance in the future, and make wise business decisions. Along with the organization's financial position, its goal is to ascertain the profitability potential.
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Information about the report:
- Forecast Timeframe: 2023–2030
- The starting year is 2022
- Market Size in 2022- USD 7.99 billion
- The market size in 2029 will be USD 18.71 billion
- CAGR - 11.4%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Financial Analytics Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The total amount of money that service providers make from offering their products to customers is referred to as the market size. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Financial Analytics Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the details with the highest revenue growth rates.
By Deployment Model Analysis,
The market is split into on-premises and cloud based on the deployment model. During the forecast period, the CAGR for the cloud segment is expected to be the highest. Due to numerous advantages like cost savings and improved data recovery, businesses are switching more and more to cloud-based financial analytics solutions. In Model N's "2020 State of Revenue - A Survey of Senior Executives," nine out of ten senior executives who are responsible for the company's revenue management stated that a cloud-based technology solution would be their ideal choice.
By Application Analysis,
According to the application, the market is segmented into portfolio management, audit & compliance, wealth management, customer and product profitability, and others. Due to the increasingly complex auditing and compliance regulations around the world, the audit & compliance segment is anticipated to grow at the highest CAGR during the forecast period. In the upcoming years, data analytics is anticipated to play a crucial role in assisting leaders in executing a risk-based approach toward internal and compliance audits.
By Industry Analysis,
The market is divided into sectors based on industry: healthcare, business and financial services, retail and consumer goods, energy & power, IT & telecom, automotive and manufacturing, and others (aviation, government, and others).
By Key Industry Analysis,
Major businesses like Alteryx, TABLEAU SOFTWARE, LLC, QlikTech International AB, and S&P Global dominate the market. These players are growing their businesses through acquisitions, product launches, partnerships, and collaborations.
List of Key Companies Profiled:
- Alteryx (U.S.)
- TABLEAU SOFTWARE, LLC (U.S.)
- QlikTech International AB (U.S.)
- SAP SE (Germany)
- Fractal Analytics Inc. (U.S.)
- S&P Globalx (U.S.)
By Region
The market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific according to geography. They are further segmented into countries.
North America is anticipated to hold the largest market share for financial analytics during the forecast period because of the region's established players, increased use of Business Intelligence (BI) tools across numerous industries, strict regulatory compliance requirements, and technological advancements. Due to the rapid advancements in digitization, the United States has maintained its dominance in the region of North America. Key regional players' acquisitions, alliances, and partnerships aid in the expansion of the regional market.
The study report provides a thorough analysis of the “Financial Analytics Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. Financial Analytics Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Financial Analytics Market industry will be able to gain the upper hand by using the study as a valuable resource.
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