Forecasting Future Growth: Financial Analytics Market Assessment

The market for financial analytics market is projected to grow at a CAGR of 11.3% between 2022 and 2032. The desire for solutions that can handle enormous volumes of data and provide essential insights will play a critical part in boosting analytics in the finance domain as a result of the growing importance of data-driven financial decisions in various end-user industries and the emergence of big data.

This decision-making tool has highlighted the need for data for financial analysis in light of the COVID-19 pandemic. Financial institutions are quickly updating and modernising their digital business architecture in response to the COVID-19 outbreak.

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The term “financial analytics market” describes the use of sophisticated analytical methods and tools to examine financial data and derive knowledge that can be used to guide company choices. Financial modeling, forecasting, risk management, and performance analysis are just a few of the many tasks that fall under the umbrella of financial analytics.

Due to factors like the rising volume and complexity of financial data, the need for more precise and timely insights, and the emergence of new technologies like artificial intelligence and machine learning, the market for financial analytics solutions and services has been expanding quickly in recent years.

The financial analytics market is made up of a wide range of players, including software vendors, consulting firms, and financial services providers.

Key segments of the market include:

Financial Analytics Software: This includes software applications that enable financial professionals to perform tasks such as financial modeling, forecasting, and risk analysis. Some of the leading vendors in this market include IBM, Oracle, SAP, and SAS.
Financial Consulting Services: These are professional services provided by consulting firms to help organizations with financial planning, analysis, and reporting. Leading players in this market include Deloitte, PwC, EY, and KPMG.
Financial Data Providers: These are companies that provide financial data and analytics to financial professionals. Examples of financial data providers include Bloomberg, Thomson Reuters, and S&P Global.
The financial analytics market is expected to continue to grow in the coming years, driven by factors such as the increasing use of big data analytics and the growing demand for real-time insights. The market is also likely to see increased competition as new players enter the market and existing players continue to invest in new technologies and solutions.

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How is the Competition Landscape in the Financial Analytics Market?

Some of the major financial data analytics companies are

SAP A.G.,
International Business Machines Corporation (IBM),
Oracle Corporation,
TIBCO Software Inc., and
MicroStrategy Inc.,

These vendors offer financial analytics either in the format of individual solutions or incorporated into business intelligence suites.

The other companies in the financial analytics market include Deloitte Touche Tohmatsu Limited, Hitachi Consulting Corporation, Information Builders, Fair Isaac Corporation (FICO), Microsoft Corporation, Symphony Teleca Corp., Teradata Corp, Tableau Software Inc., Rosslyn Analytics Ltd. and SAS Institute Inc. among others.

Key Segments

By Type: