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Financial Analytics Market Size, Share, Current Trends, Industry Demand, Regional Outlook and Forecast To 2024

12.21.2020 · Posted in Information Articles

Overview

Financial analytics conducts generic analysis for specific business queries and prediction of possible future scenarios. The budget, account books, and various assets of an enterprise are evaluated for coming to logical conclusions. The global financial analytics market report by Market Research Future (MRFR) covers pertinent questions and focuses on upcoming trends for the period of 2019 to 2024 (forecast period). The COVID-19 pandemic and its impact on the market outlook are highlighted in the report.

Market Scope

The global financial analytics market is expected to register a CAGR of 10.4% during the forecast period to reach USD 11.58 billion by 2024.

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Segmentation

By component, the global financial analytics market has been divided into software and service. Based on deployment mode, the global financial analytics market has been classified as on- premise and cloud. Based on organization size, the global financial analytics market has been divided into small and medium-sized enterprises (SMEs) and large enterprises.

On the basis of application, the market has been segmented into governance, risk, and compliance management, customer management, wealth management, financial forecasting and budgeting, transaction monitoring, stock management, fraud detection and prevention, and others.

On the basis of vertical, the global financial analytics market has been divided into banking, financial services and insurance (BFSI), retail & e-commerce, government and defence, healthcare and life sciences, energy and utilities, manufacturing and automotive, telecommunication and IT, transportation and logistics, and others.

Regional Analysis

North America accounts for the highest market share, owing to the rapid adoption of financial analytics. The US, Canada, and Mexico are the leading countries in the region. The retail and e- commerce, BFSI, and government verticals are expected to be the leading verticals which are using financial analytics solutions in North America. The US and Canada are witnessing high adoption of advanced technologies for better management of resources, which includes financial analytics solutions.

The market in Europe is expected to be the second-largest during the review period due to the increasing demand for financial analytics solutions due to the growing adoption in the BFSI sector. Asia-Pacific is anticipated to be the fastest growing market in the global financial analytics market during the forecast period. A rapidly increasing number of enterprises adopting these solutions across the BFSI and retail and e-commerce industries and the rising need for reducing planning and budgeting cycles in the region are the key driving factors for the growth of the financial analytics market in Asia-Pacific.

Competitive Outlook

ALTERYX, INC., Google, Rosslyn Data Technologies, SAP, Teradata, Deloitte Touche Tohmatsu Limited, MicroStrategy Incorporated, QlikTech International AB, Fair Isaac Corporation, IBM Corporation, SAS Institute Inc., TIBCO Software Inc., Oracle Corporation, TABLEAU SOFTWARE, and Zoho Corporation are key players of the global financial analytics market.

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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