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Financial Analytics Market is Forecasted to Reach a Value of US$ 28.34 Billion by 2034

07-03-2024 02:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Financial Analytics Market

Financial Analytics Market

Revenue from the global financial analytics market is expected to reach US$ 12.19 billion in 2024. Latest projections are that the market will increase at a CAGR of 8.8% to ascend to a value of US$ 28.34 billion by 2034.

Increasing consumer adoption of ubiquitous computing devices, advancements in storage capacity, and innovation in analytical tools are creating new business opportunities for industry participants, driving the growth of the global financial analytics market. Growing awareness among end users about the benefits of financial analytics solutions, especially for real-time data analysis and decision-making, is contributing to market expansion.

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The persistent rise in cyber threats and data breaches poses a significant risk to sensitive consumer and corporate data, potentially hindering financial analytics market growth. On the other hand, the financial analytics market is poised for substantial development in emerging regions such as Latin America, the Middle East, and Africa, where financial analytics solutions and infrastructure are still in the nascent stages. Major firms are expected to find significant growth opportunities in these areas during the forecast period, contributing to the overall market expansion.

Financial analytics serves as a valuable tool for any corporation aiming to enhance business performance. These analytics enable users to analyze business statistics and gain deeper insights through comprehensive financial data analysis. Beyond the traditional scope, financial analytics can assess economic trends, set long-term business activity goals, and identify promising investment opportunities. The primary objective is to predict the company's future financial condition, aiding in investment growth and enhancing the growth trajectory of the financial analytics market.

The growing popularity of real-time analytics is helping businesses respond swiftly to market changes and make quicker decisions, which is a key financial analytics market trend. The increasing adoption of cloud-based solutions is attributed to their cost-effectiveness and scalability, allowing seamless integration and comprehensive data analysis. Prioritizing data security and privacy measures is crucial for firms handling sensitive financial data.

Forecasting and predictive analytics techniques are employed to anticipate future trends and improve financial planning. These trends highlight the importance of financial analytics for gaining a competitive edge and making informed decisions in today's corporate landscape.

Browse Full Report with TOC@ https://www.factmr.com/report/financial-analytics-market

Financial analytics plays a critical role in cost analysis, revenue generation, and detecting billing fraud in the healthcare industry. Governments and regulators use financial analytics to monitor financial markets, detect illicit activities, and ensure compliance with laws.

In supply chain management, financial analytics help determine optimal inventory levels, identify cost-saving opportunities, and improve purchasing decisions. In summary, financial analytics is a versatile tool used across various industries to maintain competitiveness, make informed decisions, and enhance efficiency.

Top Companies are
Oracle Corporation; IBM Corporation; SAP SE; Teradata Corporation; TIBCO Software; SAS Institute; Alteryx; Qlik; FICO; Infor Birst; Google LLC; Information Builders; Zoho Corporation; Domo Inc.

Market Segmentations
By Component :
Financial Analytics Solutions
Financial Function Analytics
Financial Market Analytics
Financial Analytics Services
Managed Financial Services
Professional Financial Services

By Application :
Financial Wealth Management
Financial Governance Risk & Compliance Management
Financial Forecasting & Budgeting
Customer Financial Management
Financial Transaction Monitoring
Financial Claims Management
Financial Fraud Detection & Prevention
Financial Stock Management

By Deployment :
On-Premise
Cloud-Based

By Organization Size :
SMEs
Large Enterprises

By Vertical :
BFSI
IT & Telecom
Government
Energy Utilities
Manufacturing & Automotive
Healthcare & Pharmaceuticals
Retail & e-Commerce
Media & Entertainment
Transportation & Logistics
Other Verticals

By Region :
North America
Latin America
Eastern Europe
Western Europe
East Asia
South Asia & Pacific
Middle East & Africa

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Market Competition
Due to the abundance of service providers, there is intense competition in the worldwide financial analytics industry. Key players in the financial analytics market are providing extremely creative software solutions, which might be linked to the quick digitalization of the world financial scene. Important growth tactics, including partnerships, collaborations, and mergers and acquisitions, are also dependent upon and are adapting themselves to evolving market trends such as cloud-based analytics and edge analytics.

Recent News
International technology giant Microsoft Corporation and business intelligence software provider Microstrategy Incorporated have extended their collaboration.
Provider of business intelligence solutions QlikTech International AB recently purchased the data integration and management software developer Talend Inc.
Alteryx has added enterprise-grade and self-service features to its analytics cloud platform to help its clients make choices about their businesses more quickly.

About Fact.MR:
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

Contact:
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Rockville, MD 20852
United States
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Sales Team: sales@factmr.com

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