Financial Analytics Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report - Industry Forecast (2021 to 2026)

  • Category : Information Technology |
  • Report Code : VMR-40531 |
  • Pages: 200 |
  • Published : 2021-04 |
  • Region: Global |
  • Avilable Format : format excel,ppt, Pdf |
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Financial Analytics Market Size (2021 – 2026)

The global financial analytics market size is estimated to be worth USD 7.0 billion in 2020 and is expected to reach USD 17. 4 billion by 2026. The market is growing with a CAGR of 11.4% from 2021-2026. 

Financial analytics is a set of tools that increases the company’s financial profitability. It is the process of investigating, monitoring, analyzing, visualizing, monitoring, and predicting the financial statements of an organization via the use of software-based programs. 

Financial analytics (FA) is used to tackle precise business-related operations and to prognosis future financial situations. The financial analytics 

MARKET DRIVERS

The focus on data-driven financial decisions over massive industry verticals, and the advent of big data has created the need for solutions that can handle enormous amounts of data and deliver valuable perceptions. Adopting cloud-based services is increasing enhances the financial analytics market growth. 

The public and private institutions invest in data management aid in supporting the financial analytics market growth globally. The assimilation of machine learning (ML) and artificial intelligence (AI) with financial analytics including advanced technologies from big data to warehouses and customer analytics have caused different firms to accept financial analytics solutions worldwide. 

MARKET RESTRAINS

However, complications associated with the data and diverse language preferences for recording the data in the system create barriers in the financial analytics market.

FINANCIAL ANALYTICS MARKET REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2020 – 2026

Base Year

2020

Forecast Period

2021 – 2026

Regions Covered

North America, Europe, APAC, Middle East & Africa (MEA), Latin America 

 

Segmentation Analysis

The financial analytics market at the global level has been segmented and sub-segmented according to the following categories:

Financial Analytics Market - By Component

  • Solutions
    • Financial Function Analytics
    • Financial Market Analytics
  • Services 
    • Managed Services
    • Professional Services

By component, the solutions segment is leading the financial analytics market growth during the forecast period. 

Financial Analytics Market - By Application

  • Wealth Management
  • Governance, Risk, and Compliance Management
  • Financial Forecasting and Budgeting
  • Customer Management
  • Transaction Monitoring
  • Claim Management
  • Fraud Detection and Prevention
  • Stock Management

By application, the governance, risk, and compliance management segment are scheduled to have witnessed quick growth in the financial analytics market. 

Financial Analytics Market - By Deployment Modes

  • On-premises
  • Cloud

By deployment mode, the on-premise segment dominates the financial analytics market. The cloud deployment mode is expected to witness healthy growth over the forthcoming years. The cloud-based financial analytical solutions market is driven by ease of scalability, speed of deployment, and 24*7 availability. 

Financial Analytics Market - By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large enterprises

By organization size, the small and medium-sized enterprises (SMEs) segment accounts for the largest share in the financial analytics market. 

Financial Analytics Market - By Industry Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Telecom and IT
  • Government
  • Energy and Utilities
  • Manufacturing and Automotive
  • Healthcare and Pharmaceutical
  • Retail and eCommerce
  • Media and Entertainment
  • Transportation and Logistics
  • Others (real estate and education)

By industry vertical, the BFSI segment is burgeoning the financial analytics market. Advanced technologies like Business Intelligence (BI), and big-data tools (BA) blooms the market growth globally. BFSI services aid in asset and liability, GRC, receivables, payables management.

Retail and e-commerce segments are experiencing quick growth in the financial analytics market growth throughout the timeframe period. 

Healthcare and pharmaceutical segment is promised to have tremendous growth in the market. The French National Health Insurance Fund (CNAM) has uttered great interest in combining with health tech players in addressing its target of creating a secure and personalized "digital health space" for every citizen. 

Regional Analysis

Globally, the North American market for financial analytics market is at the forefront contributing strongly. The high approval across multiple industries besides with a brisk technology adaptation rate. The United States and Canada are the major contributors to the financial analytics market. In the U.S, the small and medium enterprises segment accounted for more than 30% of the share in 2020. The continuous rise in the number of SMEs using digital technologies and business intelligence is upgrading the financial analytics market growth in the U.S. 

Europe is projected to have a generous and promising growth in the financial analytics market. The market is growing with a CAGR of 10.20% across the timeline period. The need for real-time data analytics and decision making and fast changes in business environments drives the financial analytics market growth. 

In Germany, the financial analytics market is on the wings to seize 25% of the share in terms of revenue. Wealth management firms are increasingly utilizing financial tools to pull the investor's attention and to stay competitive and submissive. 

Despite this, Asia-Pacific is hoped-for to observe the highest growth rate throughout the forecast period. The market growth connects with the rising growth in end-user industries. The region is said to account for about 20% of the global share in the financial analytics market. Investments in Artificial Intelligence (AI) technology are mounting and rising digitalization booms the market growth in the region.

China is playing a crucial role in the financial analytics market accounting for the highest share across the region. The country has invested more than 17% of its investments in data analytics and artificial intelligence. 

Latin America is scheduled to have massive growth due to the growing fraud cases of financing since the past and the growing applications of cloud computing. Technological advancements have automated certain day-to-day operations and their financial divisions. 

The Middle East and Africa are anticipated to create an abundant amount of share in the market over the period. The rising inclination for digitization with growing cloud computing adoption worldwide drives the market growth. The an increasing need to process huge amounts of formless information for making data-driven organizational decisions. The factor helps in supporting the market growth further. 

Key Market Players

Oracle (US), IBM (US), Teradata (US), TIBCO Software (US), SAP (Germany), SAS Institute (US), Alteryx (US), Qlik (US), FICO (US), GoodData (US), Birst (US), Google (US), Information Builders (US), Zoho Corporation (US), and Domo (US) are the top key players taking part in the global financial analytics market. 

Recent Market Developments

  • On January 08, 2019, SAP SE announced its new SAP S/4HANA for financial products sub-ledger. The solution provides a central hub to manage data among operational and finance systems. Its ability to support finance and risk processes has become more difficult to manage as a result of fragmented data models in operational and finance systems.

 COVID-19 Impact on Financial Analytics Market

COVID-19 pandemic has increased the lockdown that has worsened the drop in employment situations. The world is containing the fight against the pandemic. More and more financial institutions are arriving, providing diverse digital financial services fighting against COVID-19 stress. 

Small and large enterprises have throughout the U.S are facing the stress of a fall in sales and lost market opportunities, amplified by the adverse effect of the endless COVID-19 pandemic.

Financial Analytics Market – Forecast (2021-2026)

Chapter 1. Financial Analytics Market – Scope & Methodology

1.1. Market Segmentation 

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2. Financial Analytics Market - Executive Summary

2.1. Market Size & Forecast – (2021 – 2026) ($M/$B)

2.2. Key Trends & Insights

2.3. COVID-19 Impact Analysis

        2.3.1. Impact during 2021 – 2026

        2.3.2. Impact on Supply – Demand

        2.3.3. Impact on Production Cost

        2.3.4. Impact on Supply Chain

Chapter 3. Financial Analytics Market – Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier – Distributor Analysis

Chapter 4. Financial Analytics Market Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3. Customer Analysis

4.4. Porters Five Force Model

        4.4.1. Bargaining Power of Suppliers

        4.4.2. Bargaining Powers of Customers

        4.4.3. Threat of New Entrants

        4.4.4. Rivalry among Existing Players

        4.4.5. Threat of Substitutes

Chapter 5. Financial Analytics Market Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6. Financial Analytics Market, By Component

6.1. Solutions

       6.1.1. Financial Function Analytics

       6.1.2. Financial Market Analytics

6.2. Services

       6.2.1. Managed Services

       6.2.2. Professional Services 

Chapter 7. Financial Analytics Market, By Application

7.1. Wealth Management

7.2. Governanace, Risk, and Compliance Management 

7.3. Financial Forecating and Budgeting

7.4. Customer Management

7.5. Transaction Monitoring

7.6. Claim Management

7.7. Fraud Detection and Prevention

7.8. Stock Management

Chapter 8. Financial Analytics Market, By Deployment Mode

8.1. On-Premises

8.2. Cloud

Chapter 9. Financial Analytics Market, By Organization Size

9.1. SMEs

9.2. Large Enterprises

Chapter 10. Financial Analytics Market, By Industry Vertical

10.1. Banking, Financial Services, and Inurance (BFSI)

10.2. Telecom and IT

10.3. Government

10.4. Energy and Utilities

10.5. Manufacturing and Automotive

10.6. Healthcare and Pharmaceutical

10.7. Retail and eCommerce

10.8. Media and Entertainment

10.9. Transportation and Logistics

10.10. Others (Real Estate and Education)

Chapter 10. Financial Analytics Market, By Geography - Market Size, Forecast, Trends & Insights

10.1. North America

         10.1.1. U.S.A

         10.1.2. Canada

         10.1.3. Mexico

10.2. Europe

         10.2.1. Italy

         10.2.2. Spain

         10.2.3. Russia

         10.2.4. Germany

         10.2.5. UK

         10.2.6. France

         10.2.7. Rest of Europe

10.3. Asia Pacific

         10.3.1. Japan

         10.3.2. South Korea

         10.3.3. China

         10.3.4. India

         10.3.5. Australia & New Zealand

         10.3.6. Rest of Asia-Pacific

10.4. Rest of the World

         10.4.1. South America

         10.4.2. Middle East

         10.4.3. Africa

Chapter 11. Financial Analytics Market - Company Profiles – (Overview, Product Portfolio, Financials, Developments)

11.1. Company 1

11.2. Company 2

11.3. Company 3

11.4. Company 4

11.5. Company 5              

11.6. Company 6

11.7. Company 7

11.8. Company 8

11.9. Company 9

11.10. Company 10

  • Primary & Secondary Sources to Collect & Validate Data

  • Utilization of Both Top Down & Bottom Up Approach

  • Holistic Research Methodology


Scope & Introductory Research

In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.​

Data Collection 

Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders. ​

Data Fusion

At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.

Data Analysis

At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.

Verification ​

Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report. ​

Quality Assurance & Report Preparation​

Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.​

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