Financial Analytics Market

2021-2030 Analysis and Review Financial Analytics Market

Financial Analytics Market

Financial Analytics Market By Deployment Type (On-Demand, On-Premise), By Vertical (Banking, Financial Services & Insurance,Public Sector, Energy, Transportation),By Tools (Analytical Solutions, Data Integration Tools, Olap & Visualization Tools),By Organization Size (Large Enterprises, Small & Medium Sized Enterprises),By Application (Assets & Liability Management, Budgetary Control Management, General Ledger Management, Governance)-Growth, Share, Opportunities & Competitive Analysis, 2021-2030

26-08-2021 REP-HC-139281 120 pages Format

The ‘Global Financial Analytics Market’ is anticipated to grow at a CAGR of 14.6% in the forecast period (2021-2030). Financial Analytics is an advanced tool through which an effective and predictive decision can be taken effortlessly. Hence increasing inclination towards business analytics and to sustain the rapid volatile nature of the financial industry, financial analytics is widely being deployed to mitigate the risk involved. This solution in broadly being used for corporate industries and in equity market research application. One of the newest advancement in financial analytics is ‘Financial Robots’ an automated analytic tool which can automate the investment process and can manage the portfolio in real time situations. Financial analytics is an executive level analytical tools which can obtain exact perceptions from the financial data that is essential in formulating business decisions. Moreover, Banking, Financial Services and Insurance (BFSI) sector utilize these financial analytic solutions for enlightening their standard financial functions like; asset and liability, general ledger, payable, receivable, budgetary control, governance, compliance, profitability and risk management. The expansion of innovative models such as B2E, B2B has created new opportunities for financial analytics.

Financial Analytics Market

360 Degree Market Coverage: Atlantic Market Research

The scope of the global financial analytics market includes deployment types comprising on-demand (cloud) and on premise. It further includes the various tools used in financial analytics such as analytical solutions; consulting & support services; data integration tools; database management system; OLAP & virtualization tools and query, reporting and analysis. The report also includes a detailed analysis of the numerous applications of financial analytics. The numerous application segments include asset & liability management; budgetary control management; general ledger management; governance, risk & compliance management; payables management; profitability management; receivables management; and others. The scope of financial analytics in several verticals have been further analyzed comprising banking, financial services and insurance; consumer goods and retail; government, healthcare & life science; manufacturing; media & entertainment; public sector, energy & utilities; telecommunication and IT; travel & hospitality and various other verticals. Revenue generated by small & medium enterprises and large enterprises within this market have also been taken into consideration. Software, integration and consulting services are also being considered while evaluating market revenue.

Technology Adoption Among Business Across Remains as A Key Driver

By 2021, approx. 80% of the small businesses within the U.S. are projected to fully adapt cloud computing, up from 37% in 2015. Rise in adoption rate of cloud services by small companies is backed by the lower costs, better collaboration, greater integration and increased mobility & flexibility offered by cloud solutions. In case of large financial organizations, the key desired features from cloud services include remote auditing, increased transparency & better auditing controls, better data encryption tools and receiving logs in real time. Such facts related to adoption of cloud in small and large companies is projected to positively influence the growth rate of the small enterprise and large enterprise segments in the global financial analytics market. 

BFSI Remains as Key Segment in Terms of Market Revenues

BFSI accounted for more than 30% of the total revenues in financial analytics market for 2020, fiscal year. Adoption rate amongst large enterprises were higher in the base year 2020. Adoption rate amongst various SME’s are also estimated to grow significantly. By 2022, SME’s are anticipated to generate for more than $5.7billion. Financial analytics market has vast scope in BSFI sector. These solutions are widely within this industry for risk analysis, predictive analysis, as well as in day to day operations work including cash deposit & withdrawal and in determining premium amount within insurance companies. Banking sector is rapidly adopting big data analytics for smooth operations and for predicting futuristic financial situations.

Due Advantages of Cloud Over On-Premise Analytics, Is The Growth Driver of Cloud Based Solutions

On-demand deployment model or can be said cloud based model refers to an Internet based computing that provides computer sources to the computers as well as other devices on demand. This model permits omnipresent and on-demand access to the shared pool of the configurable computing resources. It has been projected that a tremendous shift towards cloud based services will impact over $1.3 trillion in the IT spending. On-demand financial analytics platform can have drastic benefits for an enterprise’s bottom line. It has been witnessed that companies deploying cloud environments witness 16% growth year over year in comparison to just 3% with those companies using on-premises analytics. Such factors have attributed towards the growth rate of the on-demand financial analytics model. This deployment model is projected to witness a growth rate of 17% during 2021 to 2030.  

Financial Analytics in Profitability Managements Tops the Application Segment

The top growing market segments include profitability management, on-demand model and customer & support services with a CAGR OF 17.3%, 17% and 15.8% respectively. In the application segment, profitability segment is expected to witness the highest growth rate in comparison to other segments. Profitability management segment growth is backed by the rising need to take accurate profitable decisions. Financial analytics assists the organizations while quoting commercial pricing for products after analyzing the overall amount invested for a particular product. The rising concern to enhance profitability margins is the key force that has propelled the growth of the profitability management segment. In the deployment model, cloud model/on-demand financial analytics model has gained traction owing to its cost effective nature in comparison to on-premise model. Rising concern to provide strategic solutions in order to sustain in the dynamic environment has attributed towards the growth of the consulting & support service tool. Robotic Process Automation is expected to be the emerging trend in the financial analytics market. For shared services and GBS leaders, increasing automation is the second most significant strategic priority. In the financial analytics industry, robots are computer coded software. The deployment of these robots is projected to reduce the cost and remove errors in the analysis process.

North America Clearly Dominates the Current Market, While Growth Potential Lies in APAC

Geographically, North America dominates the whole financial analytics market. The whole NA region is vastly filled with key players such as, Microsoft, Oracle, SAP and SAS, also the region has the huge amount of disposable income which is meticulously turning into investments, this accounts for the highest level of financial analytics deployment in the region. Asia Pacific region is witnessing high growth in economic activities i.e. the GDP of some of the top growing countries such as China and India is growing and remains to be higher than developed countries. This huge growth coupled with increasing financial transaction and big data involvement in the region, APAC region is likely to with the highest CAGR 16.2% in the forecast period. A positive trend in terms of growing utilization of big data analytics in China by various corporates have attributed towards the growth of the regional market. Chinese big data market. Along with, increase in internet based finance have also added up towards the market growth of the financial analytics market in Asia Pacific. Presence of such growth factors are expected to propel the growth rate of financial analytics market in Asia Pacific region. 

M&A Remains the Most Preferred Strategy to Enhance Market Presence

Some of the major companies involved in SAP, SAS, IBM, Oracle and Microsoft. Amongst them, SAP holds the largest market share with respect to others as it has its wide presence across geographies and has the highest revenue in financial analytics market (estimated).Mergers and acquisitions remain as the key strategy adopted by the market players to enhance their market share at global level and expand their geographical presence.

Historical &forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global financial analytics market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

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