Financial Analytics Market Size By Component (Solution [Data Integration Tools, Database Management System (DBMS), Query, Reporting & Analysis, Online Analytical Processing (OLAP) & Visualization Tools], Service [Professional Services, Managed Services]), By Deployment Model (On-premise, Cloud), By Organization Size (SME, Large Enterprises), By Application (General Ledger Analytics, Wealth Management, Budgetary Control Management, GRC Management, Customer Management, Payables/Receivables Analytics, Transaction Monitoring), By End-use (Retail & Consumer Goods, BFSI, Manufacturing, IT & Telecom, Government & Public Sector, Transportation & Logistics, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Application Development, Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030

Industry Statistics

Global Financial Analytics Market size surpassed USD 9 billion in 2021 and is anticipated to record a CAGR of about 15% between 2022 and 2030.
 

The rapidly growing requirement to minimize planning and budget cycles is slated to push the demand for financial analytics. The introduction of more efficient budget and planning cycles across the business environment helps reduce the strain on systems, human resources, and operational units. The rising need for enterprises to focus more on growth and development prospects will increase financial analytics industry growth.
 

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The increased adoption of advanced technologies such as big data, cloud computing, and predictive analytics has emerged as a major growth rendering factor influencing the industry landscape. These technologies help create solutions capable of tackling massive data and producing valuable insights, fostering the financial analytics market.
 

Deployment in major enterprises to impact the demand for financial analytics solutions

Regarding components, the solution segment was worth more than 6 billion in 2021 and is predicted to grow substantially in the forthcoming years. The segment growth can be credited to the increasing deployment of financial analytics solutions across enterprises of all capacities, specifically, the manufacturing sector.
 

Enhanced security to bolster the expansion of on-premise analytics software

The on-premise segment held over 60% of the financial analytics market revenue share in 2021 and is estimated to register further progression over the assessment timeframe. On-premise-based analytics software offers better control over systems and data while providing a higher level of integration with other applications. These solutions are considered best in business settings where security and data ownership are paramount.
 

Rising investments to boost product adoption across large enterprises

The large enterprise segment accounted for approximately 60% of the market revenue share in 2021. Increasing integration of financial intelligence in informed decision-making is fueling the industry growth. Business processes across large enterprises generate a considerable amount of data that needs efficient evaluation to translate into valuable insights. Driven by these requirements, businesses with large capacities have been making significant investments in financial analytics to complement the development of AI-based applications, fostering the business expansion.
 

General ledger analytics to showcase high demand across financial institutions

With respect to application, the general ledger analytics segment of financial analytics market valued at USD 1.5 billion in 2021. General ledger analytics are widely integrated across financial institutions to analyze general entities for risk and error detection. These solutions perform several tasks ranging from variance analysis to core financial statements across organizations. The ability of this software to go from top line outcome to a singular or cluster of the contributing transactions will stimulate the segment growth.
 

BFSI sector to emerge as a major end-user attributed to surging digital payments

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The BFSI application segment may hold a commendable revenue share by 2030, while exhibiting a growth rate of around 15% through 2030. A significant rise in the utilization of contactless digital payments, driven by the increasing digital literacy and improving economic growth. The integration of data management and analytics and big data to ensure profitable growth and promote organizational success will accelerate the demand for financial analytics in the BFSI industry.
 

Expanding cloud infrastructure to drive the Asia Pacific market revenue

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The Asia Pacific financial analytics market size is poised to register  nearly 15% gains between 2022 and 2030. The rising integration of AI-based applications across financial institutions to reduce operating costs and handle financial assets is likely to augment the regional market growth. In addition, the proliferation of cloud infrastructure along with the increasing utilization of big data across fintech establishments will aid the industry statistics in APAC.
 

Partnerships to define the competitive landscape

Major companies operating in the financial analytics industry include Datapine GmbH, Domo, Inc., Alteryx, Inc., Fair Isaac Corporation (FICO), Hitachi Vantara Corporation, GoodData Corporation, IBM Corporation, Microsoft Corporation, Information Builders, Oracle Corporation, MicroStrategy, Inc., and others. The competitive landscape of the industry is fueled by the intensified rivalry and strategic partnerships among these players, helping them tap opportunities created by the proliferation of business intelligence and big data.
 

Impact of COVID-19 on industry demand

The COVID-19 pandemic had a profound impact on the financial analytics market. The industry faced complicated issues in using the past data and predicting future behavior owing to the increasing uncertainty during the crisis as a significant number of executives pivoted from predictive analysis toward simple descriptive analytics. However, with the number of cases witnessing considerable decline across several economies and the market trends slowly getting back to normal, the industry is projected to register noteworthy progression through 2030.
 

This market research report on financial analytics includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2030, for the following segments:

Market, By Component

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

Market, By Deployment Model

• On-premise
• Cloud

Market, By Enterprise Size

• Large Enterprises
• SMEs

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