Financial Analytics Market Size | Growth Outlook, 2023-2032 (2024)

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Report ID: GMI1923
Published Date: Aug 2023
Report Format: PDF

Financial AnalyticsMarket Size

Financial Analytics Market size was valued at USD 10.2 billion in 2022 and is estimated to register a CAGR of 16.4% between 2023 and 2032. Monitoring financial trends is driving the growth of the market as businesses and institutions increasingly depend on data-driven insights. Real-time analysis of market shifts, investment patterns, and economic indicators enables informed decision-making.

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With the expansion of big data, financial analytics tools offer precise predictions, risk assessments, and strategic guidance, enhancing competitiveness and enabling proactive responses to dynamic financial landscapes. Furthermore, the growing integration of AI in BFSI is expected to drive the growth of the market.

Financial Analytics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Financial Analytics Market Size in 2022:	USD 10.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	16.4%
2032 Value Projection:	USD 45.3 Billion
Historical Data for:	2018 to 2022
No. of Pages:	300
Tables, Charts & Figures:	442
Segments covered:	Component, Deployment model, Organization size, Application, End-use
Growth Drivers:	Icreasing need to reduce planning and budgeting cycles Proliferation of Big Data and advanced analytics across financial operations Increasing adoption of predictive analytics across industries Need for better management of risk and compliance issues Catalyzed investments in the fintech industry
Pitfalls & Challenges:	Data integration complexities from data silos Dynamic regulatory framework and changing financial standards

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COVID-19 Impact

The COVID-19 pandemic has positively impacted the financial analytics market by highlighting the crucial role of data-driven insights during times of economic uncertainty. As businesses and financial institutions faced unprecedented challenges, the demand for accurate predictions, risk assessments, and scenario planning surged. This increased adoption of financial analytics tools for real-time tracking and strategic decision-making, further solidifying their importance and driving innovation in the market.

Financial Analytics Market Trends

The emergence of fintech analytics startups is driving the financial analytics industry by injecting innovation and competition. For instance, in July 2023, Dobin, a FinTech startup based in Singapore, has recently debuted as the pioneer in Southeast Asia to employ open finance and advanced data analytics. This innovative approach aims to provide users with a consolidated perspective of their financial matters, generate anonymized customer insights, and enable users to extract meaningful value from their financial data. These upcoming startups are creating competition among other financial analytics vendors and spurring overall market growth and encouraging more widespread adoption of sophisticated financial analytics solutions.

Financial AnalyticsMarket Analysis

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The large enterprises segment held over 65% of the financial analytics market share in 2022. Partnerships are showing lucrative growth for large enterprises in the market. Collaborations between established management consultancy and technology providers allow for the integration of cutting-edge analytics solutions into existing systems.

For instance, in July 2023, Capco, the worldwide technology and management consultancy specializing in financial services, and Pyramid Analytics, a prominent provider of business analytics and decision intelligence platforms, have joined forces. Their partnership aims to assist financial institutions in streamlining decision-making using AI-enhanced, automated, and collaborative insights.

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Financial AnalyticsMarket Share

Major companies operating in the financial analytics market are

Microsoft Corporation
IBM Corporation
Oracle
Hitachi Vantara
SAS Institute
TIBCO
SAP SE.

The market features intense competition, with numerous players offering diverse solutions leveraging data science, AI, and advanced technologies.

Financial Analytics Industry News:

In July 2023, Bunker, a financial analytics platform headquartered in Singapore, has secured more than USD 5 million through successful pre-seed and seed funding rounds from a consortium of investors in the region. The startup intends to utilize the recently acquired capital to expedite its expansion and enhance its platform, which provides a wide array of comprehensive financial analytics solutions.

This financial analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Component

Solution
Data Integration Tools
DBMS
Query, Reporting & Analysis
OLAP & Visualization Tools
Services
Professional Services
Managed Services

Market, By Deployment Model

On-premises
Cloud

Market, By Organization Size

SMEs
Large Enterprises

Market, By Application

General Ledger Analytics
Wealth Management
Budgetary Control Management
GRC Management
Customer Management
Payables/Receivables Analytics
Transaction Monitoring
Others

Market, By End-Use

Retail & Consumer Goods
BFSI
Manufacturing
IT & Telecom
Government & Public Sector
Transportation & Logistics
Healthcare
Others

The above information has been provided for the following regions and countries:

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Singapore
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
MEA
- UAE
- Saudi Arabia
- Israel
- South Africa

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of financial analytics reached USD 10.2 billion in 2022 and is set to register 16.4% CAGR from 2023 to 2032, due to global businesses and institutions becoming increasingly dependent on data-driven insights.

The large enterprise segment recorded 65% of the market share in 2022, on account of rising collaborations between established management consultancy and technology providers.

North America registered over 37% of the market share in 2022, owing to the growing strategic partnerships among U.S.-based organizations in the region.

Microsoft Corporation, IBM Corporation, Oracle, Hitachi Vantara, SAS Institute, TIBCO, and SAP SE are some of the major financial analytics companies worldwide.

Financial Analytics Market Scope

Financial Analytics Market Size

Financial Analytics Market Trends

Financial Analytics Market Analysis

Financial Analytics Market Share

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Premium Report Details

Base Year: 2022
Companies covered: 19
Tables & Figures: 442
Countries covered: 21
Pages: 300

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