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Financial Analytics Global Market In Depth Research with Industry Size, Share, Verticals and Forecast 2033 | Alteryx Inc., Infor Inc., Domo Inc., Oracle Corporation, RAMP Inc.

05-03-2024 10:51 AM CET | IT, New Media & Software

Press release from: The Business research company

Financial Analytics Global Market

Financial Analytics Global Market

The financial analytics market size has grown rapidly in recent years. It will grow from $9.55 billion in 2023 to $10.68 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to data explosion in finance, regulatory compliance, demand for real-time insights, risk management needs, increased complexity in financial instruments, strategic decision-making.

The financial analytics market size is expected to see rapid growth in the next few years. It will grow to $16.23 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to customer-centric approaches, globalization of financial markets, cybersecurity concerns, open banking initiatives. Major trends in the forecast period include advanced analytics and artificial intelligence (ai), cloud-based financial analytics solutions, use of big data analytics, personalization in financial services, blockchain and cryptocurrency analytics, employee productivity and efficiency. .

Market Overview -
Financial analytics is the creation of ad hoc analysis to answer specific questions and shape the business strategy through reliable and factual insights. The financial analytics are used to gain deep knowledge and forecast future financial scenarios. Excel, PowerPoint, and Word are the most popular financial analysis tools, and these programs are used to develop financial models, reports, and presentations for the senior management of a company or for customers.

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Big Data's Impact On Financial Decision Making Is Driving Growth In The Financial Analytics Market
The emergence of big data is driving the financial analytics market. Big data refers to large and more complex data sets that arrive in increasing volumes from various data sources. The emergence of big data in financial decisions has led to solutions such as financial analytics that can handle large amounts of data and provide valuable solutions. For example, in 2021, according to the Investment Banking Council of America, 80% of financial institutions are using big data tools. Therefore, the emergence of big data is driving the growth of the financial analytics market.

Competitive Landscape -
Major companies operating in the financial analytics market report are Alteryx Inc., Infor Inc., Domo Inc., Fair Isaac Corporation, GoodData Corporation, Information Builders Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QlikTech International AB, Rosslyn Data Technologies Plc, SAP SE, SAS Institute Inc., Teradata Corporation, TIBCO Software Inc., RIB Datapine GmbH, Salesforce Inc., Deloitte Touche Tohmatsu Limited, Hitachi Vantara Corporation, Symphony Teleca Services Inc., Databricks Inc., RAMP Inc., SparkCognition Inc., Fraud.net Inc., Ecolytiq GmbH, Elementus, MindBridge Analytics Inc., Moody's Corporation, Wealthfront Inc., Ellevest

Revolutionizing Financial Analytics Through The Impact Of AI-Powered Virtual Assistants In The Fp&A Sector
The adoption of artificial intelligence (AI) in the financial sector is growing in popularity and has become a key trend in the financial analytics market. Key players in financial analytics are adopting AI to gain a competitive edge in the market. For example, in February 2022, Prophix, a Canada-based Corporate Performance Management (CPM) software company, launched the first virtual financial analyst in the industry, an AI-powered virtual assistant that uses natural language to boost CPM effectiveness. Mid-sized firms' finance teams use Prophix's software to automate their financial planning, budgeting, and forecasting. Finance professionals can concentrate on the more strategic tasks that have a greater influence on the bottom line of the company by automating these data-centric and time-consuming tasks. Given this, conversational AI and other cutting-edge technologies are ideal for the financial planning and analysis (FP&A) sector.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/financial-analytics-global-market-report

Key Segments -
The financial analytics market covered in this report is segmented -
1) By Component: Solution
2) By Deployment Mode: On-Premise, Cloud
3) By Organization Size: Large Enterprises, Small & Medium Sized Enterprises
4) By Application: Wealth Management, Governance, Risk & Compliance Management, Financial Forecasting & Budgeting, Customer Management, Transaction Monitoring, Stock Management, Other Applications
5) By Industry Vertical: BFSI, IT and Telecom, Manufacturing, Retail and E-Commerce, Government, Healthcare, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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