Global Financial Analytics Market: A Comprehensive Analysis by FMI

The market for financial analytics is expected to grow at an 11.3% CAGR between 2022 and 2032. As the relevance of data-driven financial decisions in various end-user industries grows, as does the emergence of big data, the demand for solutions that can handle large amounts of data and provide critical insights will play a critical role in boosting analytics in the finance area.

In light of the COVID-19 outbreak, this decision-making support has highlighted the need for data for financial analyses. Financial institutions are rapidly adapting and updating their digital business structures in response to the COVID-19 outbreak.

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The term "financial analytics market" refers to the application of advanced analytical methods and tools to study financial data and derive knowledge that can be used to drive business decisions. Financial analytics encompasses a wide range of functions such as financial modeling, forecasting, risk management, and performance analysis.

The market for financial analytics solutions and services has grown rapidly in recent years, owing to factors such as the increasing volume and complexity of financial data, the need for more precise and timely insights, and the emergence of new technologies such as artificial intelligence and machine learning.

The financial analytics market is made up of a wide range of players, including software vendors, consulting firms, and financial services providers.

Key segments of the market include:

-Financial Analytics Software: This includes software applications that enable financial professionals to perform tasks such as financial modeling, forecasting, and risk analysis. Some of the leading vendors in this market include IBM, Oracle, SAP, and SAS.
-Financial Consulting Services: These are professional services provided by consulting firms to help organizations with financial planning, analysis, and reporting. Leading players in this market include Deloitte, PwC, EY, and KPMG.
-Financial Data Providers: These are companies that provide financial data and analytics to financial professionals. Examples of financial data providers include Bloomberg, Thomson Reuters, and S&P Global.
-The financial analytics market is expected to continue to grow in the coming years, driven by factors such as the increasing use of big data analytics and the growing demand for real-time insights. The market is also likely to see increased competition as new players enter the market and existing players continue to invest in new technologies and solutions.
How is the Competition Landscape in the Financial Analytics Market?

Some of the major financial data analytics companies are

-SAP A.G.,
-International Business Machines Corporation (IBM),
-Oracle Corporation,
-TIBCO Software Inc., and
-MicroStrategy Inc.,

These vendors offer financial analytics either in the format of individual solutions or incorporated into business intelligence suites.

The other companies in the financial analytics market include Deloitte Touche Tohmatsu Limited, Hitachi Consulting Corporation, Information Builders, Fair Isaac Corporation (FICO), Microsoft Corporation, Symphony Teleca Corp., Teradata Corp, Tableau Software Inc., Rosslyn Analytics Ltd. and SAS Institute Inc. among others.

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Key Segments

By Type:

Data integration tool
Database Management System (DBMS)
Query
OLAP and visualization tools
Reporting and analysis
Analytical solutions
Consulting and support services
Others

By Application:

Assets and liability management
Payables management
Budgetary control management
Profitability management
Receivables management
Governance and Risk and Compliance (GRC) management

By Deployment Type:

On-premise
Cloud-based

By End Use:

Banking, Financial Services & Insurance (BFSI)
Food & Beverages
Transportation & Logistics
Consumer Goods & Retail
Healthcare and Life Sciences
Government
Manufacturing
Travel and Hospitality
Media and Entertainment
Telecommunication and IT
Public Sector
Energy and Utilities

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Japan
Middle East and Africa

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This release was published on openPR.