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Financial Analytics Market Segmentation by Deployment (On-Premise, and Cloud); by Application (Database Management and Planning, and Analysis and Reporting); and by End User (BFSI, Healthcare, Manufacturing, Government, IT and Telecom, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • July 2020- Oracle announced the launch of Oracle Dedicated Region Cloud@Customer for its customers, which is the industry's first fully managed cloud region which brings all of Oracle’s public cloud services to customer datacenters.

  • February 2019- IBM Watson declared collaborations and partnerships with several industry partners, including Garmin Health, Guardhat, Mitsufuji, and SmartCone aimed at enhancing employee safety in hazardous environments.

Global Financial Analytics Market Highlights 2022 – 2030

The global financial analytics market is estimated to garner a large amount of revenue and grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed primarily to the increasing number of incidences of financial fraud and identity theft, which in turn are steering the demand for financial analytics solutions among many organizations. As per the information provided by the Insurance Information Institute, in 2020 in the United States alone, 1.4 million complaints were filed for identity theft, up from 651,000 in 2019. About 29 percent of all the complaints received by the Federal Trade Commission were identity thefts.

Along with this, rising emphasis on data-driven financial decisions in several industry verticals, and emergence of big data across the globe are also expected to bolster the market growth in the forthcoming years. Furthermore, growing development of improved technologies in business intelligence and business analytics domain is also predicted to provide ample growth opportunities to the market in the near future.  

Financial Analytics Market

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The market is segmented by end user into BFSI, healthcare, manufacturing, government, it and telecom, and others, out of which, the BFSI segment is anticipated to hold the largest share in the global financial analytics market. This can be accounted to the upsurge in deployment of financial analytics-as-a-service in this sector as a result of its ability to improve general ledger, budgetary control, asset and liability, and compliance management and risk. Additionally, on the basis of deployment, the cloud segment is assessed to observe the highest growth during the forecast period owing to the ease of scalability, speed of deployment, and 24x7 availability of cloud-based financial analytics solutions. Apart from these, escalating collaborations between market players and major cloud service providers is also predicted to boost the growth of the market segment in the imminent time. 

Major Macro-Economic Indicators Impacting the Market Growth

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The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Financial Analytics Market Regional Synopsis

On the basis of geographical analysis, the global financial analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing deployment of big data technologies, such as data science and predictive analysis, especially in China, and rising demand for cloud-based analytics. China is evaluated to be the biggest cloud services market in Asia Pacific. In 2020, the country spent more than USD 18 billion on cloud infrastructure, up from about USD 10 billion in 2019.

Moreover, the market in North America is projected to grab the largest share over the forecast period ascribing to the high focus on enhancing customer experience, and increase consciousness regarding the applications of analytics solutions in the region. In addition, surging adoption of financial analytics solutions by SMEs is also predicted to drive the region’s market growth in the future.

Financial Analytics Market

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The global financial analytics market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global financial analytics market includes the following segments:

By Deployment

  • On-Premise
  • Cloud

By Application

  • Database Management and Planning
  • Analysis and Reporting

By End User

  • BFSI
  • Healthcare
  • Manufacturing
  • Government
  • IT and Telecom
  • Others

Growth Drivers

  • Increasing Number of Incidences of Financial Fraud and Identity Theft
  • Rising Emphasis on Data-Driven Financial Decisions in Several Industry Verticals

Challenges

  • Concerns Associated with Data Security

Top Featured Companies Dominating the Market

  • IBM Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Oracle Corporation
  • SAP SE
  • Microsoft Corporation
  • Teradata Corporation
  • SAS Institute
  • Teradata Corporation
  • Zoho Corporation
  • Domo Inc.
  • FICO

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