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Financial Analytics Market by Application (Revenues Management, Expenses Management, Audit & Compliance, Wealth Management, Customer and Product Profitability, Portfolio Management, Others), by Deployment Model (On-Premises, Cloud), by Enterprise Size (Small and Medium-sized Enterprises, Large Enterprises), by Industry (Healthcare, BFSI, Retail and Consumer Goods, Energy & Power, IT & Telecom, Automotive and Manufacturing, Others), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), by MEA (Middle East, Africa) Forecast 2024-2032
The Financial Analytics Market size was valued at USD 8.78 USD billion in 2023 and is projected to reach USD 18.81 USD billion by 2032, exhibiting a CAGR of 11.5 % during the forecast period. The rising demand for data-driven insights, advancements in analytics technologies, and increasing adoption of cloud-based solutions are major factors driving market growth. Financial analytics refers to the process of collecting, visualizing, monitoring, analyzing, and predicting financial data. This is done to evaluate the performance of a department or company to make better financial decisions. Managing finances is about numbers, and understanding these numbers determines an organization’s success. Financial facts and figures are challenging to interpret precisely and meaningfully. The dozens of features of finance analytics tools enable one to get precise and unobserved information, which removes all complexities. It helps businesses understand their financial status, improves their profitability, and ultimately boosts their value.
By Application:
By Deployment Model:
By Enterprise Size:
By Industry:
June 2023: MICROSTRATEGY INCORPORATED expanded its partnership with Microsoft Corporation to incorporate MicroStrategy's advanced analytics solutions with Microsoft's Azure OpenAI Service.
May 2023: QlikTech International AB acquired Talend Inc., a data integration and management software developer.
February 2023: Alteryx launched self-service and enterprise-grade functions to its analytics cloud platform.
October 2022: Oracle announced new product innovations across its broad data and analytics solutions portfolio.
November 2022: IBM Corporation launched the latest software to aid enterprises in breaking down data and analytics silos.
The report provides a complete analysis of the financial analytics market, including market size, growth rate, trends, drivers, and challenges. It also covers market segmentation, competitive landscape, and key developments in the industry.
The market is expected to witness significant growth in North America and Europe due to the presence of large financial institutions and the high adoption of advanced technologies. Asia Pacific is also anticipated to contribute significantly to market growth due to the rising adoption of cloud-based analytics solutions.
The financial analytics market is subject to various regulations, including data privacy and security laws, data protection regulations, and financial reporting standards.
The report includes a comprehensive analysis of recent patent activity in the financial analytics domain.
The financial analytics market is poised for significant growth in the coming years as enterprises increasingly recognize the value of data-driven decision-making.
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.5% from 2018-2032 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.5% from 2018-2032 |
Segmentation |
|
Note* : In applicable scenarios
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Secondary Research
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