Impact of Covid-19 Financial Analytics Market Research Report by IMARC Group 2020- 2025

According to IMARC Group expects the Financial Analytics Market to exhibit a CAGR of 8.5% during 2020-2025.Financial analytics (FA) refers to an assessment that provides in-depth insight into the organization’s financial status. It is a subset of business intelligence (BI) and analytical tools, which helps to represent the data in the graphical form for easier interpretation and maintenance of business operations. FA has gained traction in recent years as it improves business strategies and everyday decision-making abilities by performing planned and ad-hoc analysis of financial data.

FA finds extensive applications in various sectors, including the banking, financial services, and insurance (BFSI) sector, to manage assets, liabilities, payables, receivables and profitability, governance and risk and compliance (GRC), and budgetary control. Other than this, the healthcare industry also uses financial analytics for collecting, monitoring, visualizing, analyzing and predicting data for evaluating the financial performance of a department. Moreover, the integration of cloud-based solutions and artificial intelligence (AI) with FA has reduced the installation costs, strengthened the compliance frameworks, and helped in detecting fraud and other associated risks. These factors are anticipated to create a positive outlook for the market in the coming years.

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Report Coverage:

Historical, Current and Future Market Trends
Market Breakup by Type:
Database Management System (DBMS)
Data Integration Tools
Query, Reporting & Analysis
Analytics Solutions
Others
Based on the type, database management system currently holds the majority of the market share.

Market Breakup by Component:
Solutions
Financial Function Analytics
Financial Market Analytics
Services
Managed Services
Professional Services
Explore full report with table of contents: https://www.imarcgroup.com/financial-analytics-market

Based on the component, services currently hold the majority of the market share.

Market Breakup by Application:
Wealth Management
Governance, Risk & Compliance Management
Financial Forecasting & Budgeting
Customer Management
Transaction Monitoring
Stock Management
Others
Market Breakup by Organization Size:
Large Enterprises
Small & Medium Enterprises
Market Breakup by Vertical:
BFSI
Telecom & IT
Manufacturing
Government
Education
Others
Based on the vertical, BFSI currently holds the majority of the market share.

Market Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Based on geography, North America currently represents the biggest market for financial analytics.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Alteryx, Birst, Domo, Fair Isaac Corporation (FICO), Hitachi Vantara, IBM, Information Builders, Microsoft Inc., Oracle Corporation, Qlik, Rosslyn Analytics, SAP, SAS Institute, Teradata Corporation, Tibco Software, Zoho Corporation, etc.

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Note: 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

This release was published on openPR.