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A Deep Dive into Financial Analytics Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Financial Analytics Market Size
The financial analytics market is being propelled by the advent of big data. Big data represents massive, complex data sets that are steadily growing and sourced from various avenues. The application of big data in financial decision-making has birthed solutions like financial analytics, capable of processing high volumes of information and offering valuable insights. As per February 2024 data shared by G2, an American software marketplace, a substantial 92% of data administrators and IT experts are expected to incorporate generative AI into production by 2024. Moreover, almost two-thirds of digital leaders affirm that big data and analytics will be key technologies for securing a competitive edge. Additionally, 82% of establishments with advanced data and analytics maturity saw a favorable year-over-year revenue increase over the preceding three years. Hence, the advent of big data is fueling the expansion of the financial analytics market.
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How will the growth rate of the financial analytics market shape industry trends by 2034?
The scale of the financial analytics market has experienced a significant expansion in the past few years. The market set to expand from $10.44 billion in 2024 to $11.56 billion in 2025, equating to a compound annual growth rate (CAGR) of 10.7%. Factors that have contributed to this growth during the historical period include an upsurge in financial data, regulatory compliance requirements, the need for immediate data analysis, risk management necessities, the escalating complexity of financial tools, and strategic decision-making.
In the coming years, a swift expansion is anticipated in the financial analytics market size. The expected climb is projected to reach $18.25 billion in 2029, with a compound annual growth rate (CAGR) of 12.1%. Several factors can explain the projected growth in this period such as the adoption of a customer-centric approach, the worldwide expansion of financial markets, concerns regarding cybersecurity and the implementation of open banking. Significant trends expected during this forecast period are the incorporation of advanced analytics and artificial intelligence (AI), the use of cloud-based financial analytic solutions, the application of big data analytics, the customization of financial services, the analysis of blockchain and cryptocurrency, and enhancements in employee productivity and efficiency.
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What trends are poised to drive the future success of the financial analytics market?
The trend of incorporating artificial intelligence (AI) in the finance sector is on the rise, marking a significant shift within the financial analytics market. Market-leading firms are utilizing AI to secure a competitive advantage. For instance, in February 2022, the Canadian Corporate Performance Management (CPM) software firm, Prophix, introduced the first virtual financial analyst in the market. This AI-driven virtual assistant employs natural language to enhance CPM efficiency. The software from Prophix is primarily utilized by the finance teams of mid-sized companies to automate their financial planning, budgeting, and prediction processes. By automating these data-driven and time-consuming tasks, finance experts can focus on more strategic tasks that significantly impact the company's bottom line. Hence, innovative technologies like conversational AI are proving to be exceptionally beneficial for the financial planning and analysis (FP&A) field.
Which primary segments of the financial analytics market are driving growth and industry transformations?
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 And Medium Sized Enterprises
4) By Application: Wealth Management, Governance, Risk And Compliance Management, Financial Forecasting And 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
Subsegments:
1) By On-Premise: Installed Software, Custom Solutions
2) By Cloud: Public Cloud, Private Cloud, Hybrid Cloud
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Which geographical regions are pioneering growth in the financial analytics market?
North America was the largest region in the financial analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the financial analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the financial analytics market landscape?
Major companies operating in the financial analytics market are Alteryx Inc., Infor Inc., Domo Inc., Fair Isaac Corporation, GoodData Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, 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, Databricks Inc., SparkCognition Inc., Fraud.net Inc., Ecolytiq GmbH, Elementus, MindBridge Analytics Inc., Moody's Corporation, Ellevest
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What Is Covered In The Financial Analytics Global Market Report?
• Market Size Forecast: Examine the financial analytics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the financial analytics market for a structured understanding.
• Key Players Overview: Analyze major players in the financial analytics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the financial analytics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the financial analytics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the financial analytics market.
• Industry Challenges: Identify potential risks and obstacles affecting the financial analytics market.
• Competitive Landscape: Review strategic developments in the financial analytics market, including expansions, agreements, and new product launches.
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