Financial Analytics Market Forecasts to 2030 - Global Analysis By Component (Services, Solution, Data Integration Tools, Database Management and Planning and Other Components), Deployment Mode, Organization Size, Application, End User and By Geography
According to Stratistics MRC, the Global Financial Analytics Market is accounted for $10.8 billion in 2023 and is expected to reach $24.2 billion by 2030 growing at a CAGR of 12.3% during the forecast period. Financial analytics is the process of creating ad hoc analyses to forecast potential future financial situations and provide answers to particular business concerns. Financial analytics aims to inform corporate strategy by providing reliable, verifiable information instead of relying entirely on intuition. It offers several viewpoints on the financial information of a certain company, offering insights that might support strategic choices and activities that raise the company's general performance.
According to the NewVantage Partners survey "Data and Analytics Leadership Annual Executive Survey 2023", corporate data and analytics investment remains robust and continues to increase. In 2022, 87.8% of 116 various Fortune 1000 and leading organizations surveyed noted that investment in data and analytics increased significantly.
Market Dynamics:
Driver:
Enhancement of financial results
Market participants have new opportunities as a result of the adoption of widespread computing devices, sophisticated storage capacities, and novel analytic tools. At present, end-user firms can enhance their financial performance and efficiency by obtaining real-time data from previously inaccessible places at a reduced cost. Moreover, financial analytics software additionally reduces the possibility of human error, which typically results in enormous losses for businesses.
Restraint:
Lack of skilled personnel
The end-user sectors currently suffer from a shortage of qualified workers, such as analysts and data scientists, to manage and examine the collected data. Because of this, end-user firms must adopt a more creative strategy for hiring, developing, and deploying personnel. Therefore, the market's expansion is hampered by a shortage of qualified personnel to use financial analytics software.
Opportunity:
Predictive analytics' growing significance
Financial data is interpreted using predictive analytics to determine the probability of future events. Predictive analytics is being used by organizations more often to solve challenging business issues and boost output. Predictive analytics for finance functions is anticipated to play a critical role in assisting decision-makers in addressing the increasingly complex and unpredictable local and global economic conditions.
Threat:
Data security concerns
As sensitive financial data is processed as part of financial analytics, data security has emerged as a key issue that is expected to impede market expansion. The amount of data being processed and kept in the cloud is growing, raising the possibility of cyberattacks, data loss, and unauthorized access. The lack of qualified workers is yet another important issue that is anticipated to restrain the expansion of the sector. Numerous surveys indicate that in 2022, there will be a shortage of between 1,50,000 and 2,00,000 data science workers. Professionals with a variety of abilities are needed to use financial analytics tools, including the capacity for logical thought, superior statistical understanding, result interpretation, and the conversion of insights into practical strategies.
Covid-19 Impact:
The global market was significantly impacted by the coronavirus pandemic. The early months of the epidemic witnessed tremendous volatility and uncertainty in the financial markets. Many industries witnessed significant disruptions, and investors reduced their bets as a result of uncommon fluctuations in the market. The impact on small and medium-sized enterprises (SMEs) in developing nations is significant because of multiple levels of constraints and survival hazards. Their plans for IT investment were subsequently delayed or halted as a result. However, in keeping with the larger organizations' IT spending, major enterprises' IT infrastructure was less susceptible to these kinds of problems than that of SMEs.
The cloud segment is expected to be the largest during the forecast period
Cloud segment dominated the largest share over the projected period, due to the adoption of cloud-based financial analytics solutions is mostly driven by factors like 24x7 availability, agility, ease of scalability, and speed of deployment. Additionally, it enables large-scale incorporation of data from all sources across all channels for enterprises. Moreover, because most companies want to increase their financial performance, cloud-based solutions are essential because they require less money for installation, upkeep, and operations. Further evidence of the cloud-based financial analytics solution's promising future comes from the increasing digitization of end-user sectors.
The portfolio management segment is expected to have the highest CAGR during the forecast period
Portfolio management segment is expected to have the highest CAGR during the forecast period. The financial analytics market's Portfolio Management category includes a range of instruments, techniques, and procedures intended to direct the creation and enhancement of investment portfolios. Its primary objective is to assist investors—individuals or institutions—in making well-informed decisions that strike a balance between risk and reward. Additionally, creating diversified portfolios with a variety of assets, using risk management strategies to reduce possible losses, comparing the performance of the portfolio to benchmarks, and adjusting asset allocation and security choices to reflect shifting market conditions are all included in this segment.
Region with largest share:
Over the course of the projected period, the Asia-Pacific region had the largest share of the market due to its strong growth correlation with the area's end-user industries. Additionally, as more advanced and reasonably priced technology becomes available, businesses realize they require analytics skills, which is driving the industry beneath research. Furthermore, the use of big data technologies by a variety of end-user industries is anticipated to propel the analytics services market in this region, with the financial services industry leading the pace in nations like China.
Region with highest CAGR:
Asia Pacific region is estimated to witness lucrative growth over the forecast period. The next generation of finance and accounting directors will be able to supply their workforce with more effective tools as organizations throughout the area rapidly implement AI to automate a growing amount of repetitive work. These kinds of advancements will enhance the market's offerings even more, which will accelerate its expansion.
Key players in the market
Some of the key players in Financial Analytics market include Deloitte LLP, Hitachi Vantara, IBM Corporation, International Business Machine Corporation, Microsoft Corporation, Oracle Corporation, Rosslyn Data Technologies, SAP SE, SAS Institute, Symphony Teleca Services, Inc, Teradata Corporation and TIBCO Software Inc.
Key Developments:
In March 2023, Epicor acquired DSPanel, a global provider of cloud-based Financial Planning and Analysis (FP&A) solutions, and an existing Epicor ISV partner. The acquisition extends the company's portfolio of financial management solutions, helping makers, sellers, and movers worldwide streamline and simplify budgeting, forecasting, planning, scenario modeling, and financial reporting.
In September 2022, Microsoft announced that Majid Al Futtaim, Retail operator of the Carrefour retail brand across 16 countries in the Middle East, Africa, and Asia – has transformed its financial planning and analysis (FP&A) capabilities through the power of the trusted, intelligent, versatile Microsoft Azure Data Platform. Majid Al Futtaim Retail’s finance team leveraged the Azure Analytics Platform to fully automate financial and operational reporting and create a single source of truth for decision-makers.
Components Covered:
• Services
• Solution
• Data Integration Tools
• Database Management and Planning
• Other Components
Deployment Modes Covered:
• Cloud
• On-Premise
Organization Sizes Covered:
• Small & Medium Sized Enterprises
• Large Enterprises
Applications Covered:
• Audit & Compliance
• Customer and Product Profitability
• Expenses Management
• Portfolio Management
• Revenue Management
• Wealth Management
• Risk and Compliance Management
• Transaction Monitoring
• Fraud Detection and Prevention
• Stock Management
• Claim Management
• General Ledger Analytics
• Budgetary Control Management
• Payables/Receivables Analytics
• Other Applications
End Users Covered:
• Healthcare
• Government & Public Sector
• Retail and E-Commerce
• Manufacturing
• IT and Telecom
• Banking, Financial Services and Insurance (BFSI)
• Energy & Power
• Automotive
• Transportation & Logistics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Financial Analytics Market, By Component
5.1 Introduction
5.2 Services
5.2.1 Managed Services
5.2.2 Professional Services
5.3 Solution
5.4 Data Integration Tools
5.5 Database Management and Planning
5.6 Other Components
6 Global Financial Analytics Market, By Deployment Mode
6.1 Introduction
6.2 Cloud
6.3 On-Premise
7 Global Financial Analytics Market, By Organization Size
7.1 Introduction
7.2 Small & Medium Sized Enterprises
7.3 Large Enterprises
8 Global Financial Analytics Market, By Application
8.1 Introduction
8.2 Audit & Compliance
8.3 Customer and Product Profitability
8.4 Expenses Management
8.5 Portfolio Management
8.6 Revenue Management
8.7 Wealth Management
8.8 Risk and Compliance Management
8.9 Transaction Monitoring
8.10 Fraud Detection and Prevention
8.11 Stock Management
8.12 Claim Management
8.13 General Ledger Analytics
8.14 Budgetary Control Management
8.15 Payables/Receivables Analytics
8.16 Other Applications
9 Global Financial Analytics Market, By End User
9.1 Introduction
9.2 Healthcare
9.3 Government & Public Sector
9.4 Retail and E-Commerce
9.5 Manufacturing
9.6 IT and Telecom
9.7 Banking, Financial Services and Insurance (BFSI)
9.8 Energy & Power
9.9 Automotive
9.10 Transportation & Logistics
9.11 Other End Users
10 Global Financial Analytics Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Deloitte LLP
12.2 Hitachi Vantara
12.3 IBM Corporation
12.4 International Business Machine Corporation
12.5 Microsoft Corporation
12.6 Oracle Corporation
12.7 Rosslyn Data Technologies
12.8 SAP SE
12.9 SAS Institute
12.10 Symphony Teleca Services, Inc
12.11 Teradata Corporation
12.12 TIBCO Software Inc.
List of Tables
1 Global Financial Analytics Market Outlook, By Region (2021-2030) ($MN)
2 Global Financial Analytics Market Outlook, By Component (2021-2030) ($MN)
3 Global Financial Analytics Market Outlook, By Services (2021-2030) ($MN)
4 Global Financial Analytics Market Outlook, By Managed Services (2021-2030) ($MN)
5 Global Financial Analytics Market Outlook, By Professional Services (2021-2030) ($MN)
6 Global Financial Analytics Market Outlook, By Solution (2021-2030) ($MN)
7 Global Financial Analytics Market Outlook, By Data Integration Tools (2021-2030) ($MN)
8 Global Financial Analytics Market Outlook, By Database Management and Planning (2021-2030) ($MN)
9 Global Financial Analytics Market Outlook, By Other Components (2021-2030) ($MN)
10 Global Financial Analytics Market Outlook, By Deployment Mode (2021-2030) ($MN)
11 Global Financial Analytics Market Outlook, By Cloud (2021-2030) ($MN)
12 Global Financial Analytics Market Outlook, By On-Premise (2021-2030) ($MN)
13 Global Financial Analytics Market Outlook, By Organization Size (2021-2030) ($MN)
14 Global Financial Analytics Market Outlook, By Small & Medium Sized Enterprises (2021-2030) ($MN)
15 Global Financial Analytics Market Outlook, By Large Enterprises (2021-2030) ($MN)
16 Global Financial Analytics Market Outlook, By Application (2021-2030) ($MN)
17 Global Financial Analytics Market Outlook, By Audit & Compliance (2021-2030) ($MN)
18 Global Financial Analytics Market Outlook, By Customer and Product Profitability (2021-2030) ($MN)
19 Global Financial Analytics Market Outlook, By Expenses Management (2021-2030) ($MN)
20 Global Financial Analytics Market Outlook, By Portfolio Management (2021-2030) ($MN)
21 Global Financial Analytics Market Outlook, By Revenue Management (2021-2030) ($MN)
22 Global Financial Analytics Market Outlook, By Wealth Management (2021-2030) ($MN)
23 Global Financial Analytics Market Outlook, By Risk and Compliance Management (2021-2030) ($MN)
24 Global Financial Analytics Market Outlook, By Transaction Monitoring (2021-2030) ($MN)
25 Global Financial Analytics Market Outlook, By Fraud Detection and Prevention (2021-2030) ($MN)
26 Global Financial Analytics Market Outlook, By Stock Management (2021-2030) ($MN)
27 Global Financial Analytics Market Outlook, By Claim Management (2021-2030) ($MN)
28 Global Financial Analytics Market Outlook, By General Ledger Analytics (2021-2030) ($MN)
29 Global Financial Analytics Market Outlook, By Budgetary Control Management (2021-2030) ($MN)
30 Global Financial Analytics Market Outlook, By Payables/Receivables Analytics (2021-2030) ($MN)
31 Global Financial Analytics Market Outlook, By Other Applications (2021-2030) ($MN)
32 Global Financial Analytics Market Outlook, By End User (2021-2030) ($MN)
33 Global Financial Analytics Market Outlook, By Healthcare (2021-2030) ($MN)
34 Global Financial Analytics Market Outlook, By Government & Public Sector (2021-2030) ($MN)
35 Global Financial Analytics Market Outlook, By Retail and E-Commerce (2021-2030) ($MN)
36 Global Financial Analytics Market Outlook, By Manufacturing (2021-2030) ($MN)
37 Global Financial Analytics Market Outlook, By IT and Telecom (2021-2030) ($MN)
38 Global Financial Analytics Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2021-2030) ($MN)
39 Global Financial Analytics Market Outlook, By Energy & Power (2021-2030) ($MN)
40 Global Financial Analytics Market Outlook, By Automotive (2021-2030) ($MN)
41 Global Financial Analytics Market Outlook, By Transportation & Logistics (2021-2030) ($MN)
42 Global Financial Analytics Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 2 North America Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 3 US Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 4 Canada Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 6 Europe Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 7 Germany Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 8 UK Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 9 Italy Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 10 France Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 11 Spain Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 14 Japan Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 15 China Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 16 India Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 17 Australia Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 21 South America Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 24 Chile Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 28 UAE Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Financial Analytics Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Financial Analytics Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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