Financial Analytics Market Summary: —
The global Financial Analytics market is witnessing high traction lately owing to the increasing demand from the local as well as the international markets. The Financial Analytics market which has been valued at an estimated cost of $ 5.79 billion at the end of 2017 is projected to make huge leaps in terms of growth as experts and industry pundits claim that the Financial Analytics market is touted to clock a high CAGR if 13.5 % for the forecast period of 2017 - 2026. The Financial Analytics market is expected to reach the value of $ 18.21 billion which is in line with the CAGR calculated and estimated.
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Financial analytics is extensively used for research in the equity and corporate bond markets. It enables end users to focus on financial functions across organizations. It also provides better visibility into factors that drive costs, revenues and shareholder values. Financial analytics assist businesses in implementing business intelligence and analytical tools to obtain accurate insights from the financial data that is required in formulating business decisions.
Some of the key players in the Financial Analytics market include:
Deloitte, Microsoft Corporation, IBM Corporation, Oracle Corporation, SAS, SAP SE, Hitachi Consulting, Rosslyn Analytics Limited, Teradata Corporation, Information Builders, Symphony Teleca Services, Inc., Microstrategy, Fico, Tableau Software, Tibco and Hewlett-Packard Enterprise (HPE).
Based on end user, Banking, Financial Services and Insurance (BSFI) segment is projected to grow at a considerable market share. The Banking, Financial Services and Insurance sector is using these services to get better regular financial functions such as asset and liability, payable, budgetary control, profitability, general ledger, governance, risk, receivable, and compliance management. By geography, Asia Pacific is expected to experience positive growth in this industry which can be attributed to favourable government initiatives and increasing demand for information storage in emerging countries such as India and China and increasing the demand in end user industries. In addition, North America holds the largest share due to high acceptance across multiple industries along with quick technology adaptation rate.
Global Financial Analytics Industry Types:
Query Reporting and Analysis, Data Integration Tools, Consulting and Support Services, Database Management System (DBMS), Analytical Solutions, Olap and Visualization Tools
Global Financial Analytics Industry Applications:
Receivables Management, Profitability Management, Budgetary Control Management, Governance, Risk and Compliance (GRC) Management, General Ledger Management, Payables Management, Assets and Liability Management, Other Applications
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Global Financial Analytics Market End Users:
2. Telecommunication and IT
3. Public Sector, Energy and Utilities
4. Banking, Financial Services and Insurance (BSFI)
6. Media and Entertainment
7. Travel and Hospitality
8. Consumer Goods and Retail
9. Healthcare and Life Science
10. Transportation and Logistics
12. Other End Users
Global Financial Analytics Market Components:
Business Analytics Market Summary:
The Global Business Analytics Market is accounted for $52,645.43 million in 2017 and is expected to reach $ 1, 34,857.72 million by 2026 growing at a CAGR of 11.0% from 2017 to 2026. Increasing cloud-based deployment, huge volume of data and change in business environment are some of the key factors propelling the market growth. However, factors such as high implementation cost and disinclination in acceptance of business analytics are hindering the market growth.
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Business analytics software helps in understanding and analysis of business data through constant study and investigation of historical business performance to expand decisive insights for business planning. Through the application of statistical methods and tools in business performance data, business analytics software performs predictive analysis to derive decision making insights and inputs.
By Software, content analytics is estimated to have a significant growth in the market during the forecast period owing to increasing demand for real-time data analytics and rising social networking data. Content analytics is the work of concerning business intelligence (BI) and business analytics (BA) practices to digital content. Based on Geography, North America is leading the market due to the development and implementation of new technologies, increasing influence of internet on sales of industrial goods.
Some of the key players in the Business Analytics market are IBM, SAP SE, Microsoft Corporation, Oracle Corporation, SAS Institute, Inc., Tableau Software, Inc, Microstrategy Incorporated, QLIK Technologies, Inc., Tibco Software, INFOR, Teradata Corporation, Adobe Systems, Inc. and PanTerra Networks, Inc.
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Global Business Analytics Market Covered Software:
• Advanced and Predictive Analytics
• Content Analytics
• Query Reporting and Analysis Tools
• Enterprise Performance Management
• Location Intelligence
• Data Warehousing Platform
• User Types Covered:
Global Business Analytics Market Covered End Users:
1. Banking, Financial Services, and Insurance (BFSI)
2. Telecom and IT
4. Energy and Power
5. Media and Entertainment
10. Other End Users
Financial Analytics Market and Business Analytics Market key Regions:
North America, US, Canada, Mexico, Europe, Germany, UK, Italy, France, Spain, Rest of Europe, Asia Pacific, Japan , China , India , Australia , New Zealand, South Korea , Rest of Asia Pacific , South America, Argentina, Brazil, Chile, Rest of South America, Middle East & Africa, Saudi Arabia, UAE, Qatar, South Africa, Rest of Middle East & Africa
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