The worldwide financial analytics market was valued at $7.8 billion in 2020 and is estimated to reach $20.1 billion by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
Financial analysis is creating ad-hoc analysis to answer specific business questions and predict possible future economic scenarios. Financial analysis aims to guide business strategy through reliable, fact-based insights, not intuition. It provides multiple perspectives on a given business's financial data, providing insights that can facilitate strategic decisions and actions that improve a business's overall performance.
As businesses use data to get useful insights and make wise decisions, financial analytics has grown to be an essential component of modern finance. Businesses may analyze their financial data in-depth, find patterns, and predict future trends thanks to the combination of financial data analytics and cutting-edge predictive analytics tools. A new paradigm in the industry has been created by the combination of finance and data analytics, where data science is crucial to the optimization of financial operations, risk management, and investment strategies. Businesses may harness the enormous potential of data science to generate growth and gain a competitive advantage in today's dynamic economy with the use of sophisticated financial analytic tools.
Market Drivers:
The large enterprise segment accounted for approximately 60% of the market revenue share in 2021. The increasing integration of financial intelligence into informed decision-making is accelerating industry growth. Business processes in large enterprises generate significant amounts of data that require an efficient assessment to transform them into valuable insights. In response to these requirements, large businesses are making significant investments in financial analytics to complement the development of AI-powered applications and to facilitate business expansion.
In terms of application, the general ledger analytics segment of the financial analytics market in 2021 will reach $1.5 billion. General ledger analysis is widely integrated across financial institutions to analyze common entities for risk and error detection. These solutions perform tasks ranging from ANOVA to key financial statements across an organization. The software's ability to move from top results to singles or clusters of contributing transactions will stimulate segment growth.
Key players:
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and others
Market Segmentation:
Financial Analytics Market, By Component
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Solution
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Data Integration Tools
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DBMS
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Query, Reporting & Analysis
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OLAP & Visualization Tools
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Service
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Professional Services
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Managed Services
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Financial Analytics Market, By Deployment Model
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On-premise
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Cloud
Financial Analytics Market, By Enterprise Size
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Large Enterprises
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SMEs
Financial Analytics Market, By Application
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General Ledger Analytics
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Wealth Management
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Budgetary Control Management
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GRC Management
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Customer Management
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Payables/Receivables Analytics
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Transaction Monitoring
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Others
Financial Analytics Market, By End-Use
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Retail & Consumer Goods
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BFSI
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Manufacturing
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IT & Telecom
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Government & Public Sector
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Transportation & Logistics
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Healthcare
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Others
Financial Analytics Market, By Region:
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North America
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U.S.
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Canada
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Netherlands
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Asia Pacific
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China
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India
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Japan
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South Korea
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ANZ
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Singapore
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Latin America
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Brazil
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Mexico
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Argentina
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Colombia
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MEA
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UAE
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Saudi Arabia
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Israel
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South Africa
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Regional Analysis:
The global financial analytics market diversifies into Asia Pacific, Europe, North America, Middle East, and Latin America. Awareness of financial analysis solutions is higher in this region. Strong investment and innovation in this market will lead to more demand.
The Asia Pacific region will witness the fastest growth during the forecast period. China and India are significant key players in the market. Also, big data technology is highly demanded in China. The need for data-driven analytics technology is a key driver for this market. India is witnessing tremendous development in the financial analytics market. Additionally, European and Latin American markets are witnessing steady demand during the forecast period.
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2021-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.7% |
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Market growth 2022-2030 |
$20.1 billion |
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Market structure |
Fragmented |
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Competitive landscape |
Leading companies, competitive strategies, consumer |
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Companies profiled |
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Customization purview |
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