(MENAFN- GlobeNewsWire - Nasdaq)
Tokyo, Japan, May 17, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR),“financial analytics market , By Component, By Deployment, By Organization Size, By Application, By Vertical- Forecast till 2030”, the market is anticipated to acquire a valuation of approximately USD 17.64 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 11.40% during the assessment timeframe.
Eminent industry players profiled in the global financial analytics market report include
Fair Isaac Corporation (US) Oracle Corporation (US) TIBCO Software Inc. (US) IBM Corporation (US) Zoho Corporation (India) Google (US) SAP (Germany) MicroStrategy Incorporated (US) TABLEAU SOFTWARE (US) Teradata (US) SAS Institute Inc. (US) Rosslyn Data Technologies (UK) Deloitte Touche Tohmatsu Limited (US) QlikTech International AB (US) ALTERYX, INC. (US)
Get Free Sample PDF Brochure:
Financial Analytics Market Report Scope:
| Report Metric || Details |
| Financial Analytics Market Revenue forecast in 2030 || USD 17.64 Billion |
| Financial Analytics Market Growth Rate || CAGR of 11.40% from 2022 to 2030 |
| Base Year || 2021 |
| Study Period || 2022-2030 |
| Key Market Opportunities || Advancements in technologies such as artificial intelligence (AI) and machine learning (ML), and the growing adoption of predictive analytics offer lucrative opportunities to the key providers of financial analytics solutions and services in the global market. |
| Key Market Drivers || The major factor contributing to market growth is the growing need for data-driven financial decisions among the end users. |
Increased Use of Advanced Technologies to Boost Market Growth
Big data, predictive analytics, and cloud computing have all seen greater use recently, and this has had a significant impact on the industry landscape. These technologies support the development of solutions that can handle huge amounts of data and generate insightful knowledge, thereby advancing the financial analytics market.
Increasing Use of IoT and Cloud Technology to offer Robust Opportunities
The advent of cloud-based technologies has increased need for financial analytics systems. Cloud-based solutions provide for reliable data administration and production that is focused on results. On the other hand, these applications increase corporate efficiency by updating information in real-time. IoT enables businesses to offer more specialized goods and services. As a result, the requirements and expectations of the consumer can be met to a much greater extent with services and products.
Buy this Premium Research Report at:
Restraints and Challenges
High Cost to act as Market Restraint
The high price of financial analytics and dearth of expert workforce may act as market restraints over the forecast period.
The global financial analytics market is bifurcated based on end user, organization size, applications, deployment modes, and components.
By components, services will lead the market over the forecast period.
By deployment mode, cloud technology will domineer the market over the forecast period.
By applications, financial forecasting & budgeting will spearhead the market over the forecast period.
By organization size, SMEs will have the lions share in the market in the forecast period.
By end user, BFSI will have the largest share in the market in the forecast period.
The market for financial analytics witnessed a dramatic decrease in 2020 as a result of the COVID-19 epidemic, despite the industry's previous strong growth. This is as a result of the governments enforcing lockdown in maximum nations and halting international travel to stop the virus's spread. After the epidemic, the financial analytics sector is anticipated to expand. The adoption of a work-from-home culture by a number of businesses around the world has led to an increase in need for cloud-based solutions, geographic data & analytical tools, and market prediction tools. The necessity to manage this data and the rising volume of data produced by various businesses are the main drivers of the industry' expansion.
Browse In-depth Market Research Report (100 Pages) on Financial Analytics Market:
North America to Command Financial Analytics Market
The majority of shares will come from North America. It has a significant impact on the market for financial analytics worldwide. In this area, there is a lot of knowledge regarding the financial analytics solution. Moreover, market innovation is strong during the anticipated era. In this area, high-end solutions are used with greater client satisfaction. Financial analytics solutions are highly sought after in this region by the banking & financial services industries. In addition, this solution is in extremely high demand in the healthcare & retail industries. Also, there has been widespread enterprise usage. The rate of adoption will peak during the time of the forecast.
Due to early adoption of financial analytics and accelerating technological advancement in this area, North America dominated the global market for financial analytics in 2020 and is anticipated to maintain its position in the forecast period. Some of the key factors driving market expansion in this region include increasing knowledge of the applications for analytics solutions, a strong weight on innovation, & an organizational focus on enhancing the customer experience. In addition to the banking & financial services, retail and healthcare are the other significant sectors promoting the expansion of the financial analytics industry in North America. Businesses employ financial analytics tools to enhance wealth management processes and financial forecasting.
APAC to Have Favorable Growth in Financial Analytics Market
Yet, due to increased digitalization and an increase in the amount of data produced by the internet of things devices, Asia-Pacific is predicted to experience substantial growth during the projected period. The growing adoption of AI-based apps by financial institutions to manage financial assets and cut operating expenses is probably going to accelerate regional market growth. Also, the growth of cloud infrastructure and the increased use of big data by fintech companies will benefit the market statistics in APAC. Also, as more advanced and reasonably priced technology becomes accessible, businesses increasingly see the value in having analytics capabilities, which expands the market under study. As organizations move from a primary or developing state with few formal processes & small collaboration to a leading or advanced state with real-time collaborative planning, integrated planning processes, and simple multi-dimensional scenario analysis, current financial analytics trends in the Asia-Pacific region are assisting them in improving their analytical capabilities and maturity level. Furthermore, in nations like China, the market for analytics services is anticipated to be driven by the use of big data technology across a variety of end-user industries, with financial services sector taking the lead.
Ask For Customization:
Due to the market's alignment with the region's expanding end-user industries, the Asia Pacific region is expected to have the greatest growth throughout the projected period. Furthermore, the market for analytics solutions in this area is projected to be stimulated by the adoption of the big data technologies across numerous end-user industries in nations like China, with the financial services sector set to lead the charge. The financial analytics industry in India is still in the infancy stage and has a lot of room to develop. The demand for cloud-based study is also projected to increase as cloud adoption quickens in the region's end-user industries.
Discover More Research Reports on information and communications technology , by Market Research Future:
big data analytics market By Component, By Solution, By End – User - Forecast 2030
e-wallet market By Application, By Type, By Mode - Forecast 2030
integration platform as a service (ipaas) market By Service Type, By Deployment, By Verticals, By Region – Market Forecast Till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Follow Us: linkedin | twitter
Tags financial analytics market financial analytics industry Related Links
open source intelligence (osint) market file sharing software market digital market human augmentation market online travel market north america sensor market gesture recognition market computer vision market supply chain analytics market virtualized evolved packet core (vepc) market data center construction market telecom analytics market in-app advertising market employment screening services market deep learning market intelligent process automation market csp network analytics market 6g market healthcare in metaverse market body-worn camera market
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.