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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, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI1923
  • Published Date: Aug 2021
  • Report Format: PDF

Industry Trends

Financial Analytics Market size exceeded USD 8 billion in 2020 and is anticipated to grow at a CAGR of over 10% between 2021 and 2027. The market growth is attributed to the increasing focus on data-driven financial decisions across numerous industry verticals. The emergence of big data has created the need for solutions that can tackle massive amounts of data and deliver valuable insights. The growing adoption of cloud-based services is likely to boost the use of financial analytics.

Financial Analytics Market Overview

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The market landscape is characterized by the rising preference for enhancing customer relationships and driving valuable insights from the financial data. Enterprises across various industry verticals have been focusing on combining data analytics in their financial operations, mitigating the adverse impacts of the present COVID-19 pandemic. This has led to a rise in the market demand for financial analytics solutions.

Easy management of data volume and variety spurring the market expansion of DBMS solutions in the UK

Financial Analytics Market Share

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In the UK, the Database Management System (DBMS) segment in the financial analytics market is estimated to generate over USD 160 million in 2023. The analytical databases are modified databases in which every aspect is optimized for data analytics purpose. This optimization is done so that the performance of query execution is faster, and the database can be easily scalable. Enterprises deploying financial analytics solutions are seeking out high agility in data processing to get real-time reports and take instant decisions, stimulating the sales & revenue and the segment growth.

High flexibility in data integration from multiple sources to fuel the market progression of cloud solutions in Singapore

In Singapore, the cloud deployment model will witness 20% growth rate through 2027. The cloud model allows organizations to incorporate data from all sources, across all channels, and at a big data scale. Without these cloud-based solutions, data collection from all internal applications, social networks, devices, and data subscriptions will be comparatively expensive. The Singaporean BFSI industry has made rapid strides in the acceptance of cloud-based solutions, accelerating the industry demand for cloud-based financial analytics solutions.

Increasing number of vendors adopting financial intelligence solutions will promote the U.S. SME segment expansion

Financial Analytics Market Size

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In the U.S., the SME segment accounted for 30% of the market share in 2020. The steady rise in the number of the U. S. SMEs using digital technologies and business intelligence are promoting the use of financial analytics in the country. SMEs across the U.S. are facing the pressure of declining sales and lost market opportunities, compounded by the negative impact of the ongoing Coronavirus pandemic. As SMEs seek ways to improve their cash flow and payment decisions, financial analytics has emerged as a viable technology that many SMEs are tapping into.

The data-driven wealth creation will foster wealth management analytics market value in Germany

In Germany, the financial analytics market for wealth management segment is poised to capture 25% of revenue share by 2027 owing to the increasing usage of financial analytics tools by wealth management firms to grab the attention of investors and stay competitive & compliant in the market. As per the Affluent Millennial Survey, over 60% of millennials in the region chose financial advisors as the most trusted source for wealth creation. This has surged the financial analytics demand for wealth creation and management applications, ensuring data-driven decisions are available quickly.

Growing investments in health tech will expand the market size of the French healthcare segment

In France, the healthcare segment is slated to attain a CAGR of 15% through 2027. The French National Health Insurance Fund (CNAM) has expressed great interest in collaborating with health tech players to meet its goal of creating a secure and personalized “digital health space” for every French citizen. This health space will enable every citizen to have access to all their health data and services throughout their entire life. The healthcare institutes will heavily be reliant on financial analytics to ensure smooth claims processing, payment integrity, and fraud & risk assessment.

Robust digitalization initiatives and rapid adoption of financial analytics will create the growth opportunities for APAC region

APAC Financial Analytics Market

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Asia Pacific financial analytics market held for 20% of revenue share in 2020 on account of the growing investments in AI technology and increasing digitalization in the region. China invested 17% of the global external investments in data analytics and AI. The growing investments by Chinese players are also one of the major factors impelling the industry progression in the region.

Forging strategic alliances with merchants remain the premier go-to-market strategy for financial analytics vendors

The global market remains substantially consolidated with top six vendors holding nearly 65% of share. Microsoft, SAP, and IBM accounted for the major chunk of the industry. The market is characterized by intensified rivalry among major leaders and fueled by strategic partnerships, which allow financial analytics vendors and fintech companies to tap opportunities created by the proliferation of big data & business intelligence.

Some of the key players operating in the market are Alteryx, Inc., Datapine GmbH, Domo, Inc., Fair Isaac Corporation (FICO), GoodData Corporation, Hitachi Vantara Corporation, IBM Corporation, Information Builders, Microsoft Corporation, MicroStrategy, Inc., Oracle Corporation, QlikTech International AB, Rosslyn Data Technologies, Salesforce.com, Inc., SAP SE, SAS Institute, Tableau Software LLC., Teradata Corporation, TIBCO Software, Inc., and Zoho Corporation.

The financial analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Component

  • Solution
    • Data Integration Tools
    • Database Management System (DBMS)
    • Query, Reporting & Analysis
    • Online Analytical Processing (OLAP) & Visualization Tools
  • Service
    • Professional Services
    • Managed Services

Market, By Deployment Model

  • Cloud
  • On premise

Market, By Organization Type

  • SME
  • 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
    • Japan
    • India
    • South Korea
    • ANZ
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • UAE
    • Saudi Arabia
    • Israel
Authors: Preeti Wadhwani, Smriti Loomba

Frequently Asked Questions (FAQ) :

Market size of financial analytics surpassed USD 8 billion in 2020 and will grow at a CAGR of more than 10% from 2021 to 2027.

In the UK, the database management application will record a valuation of USD 160 million in 2023 and will exhibit lucrative growth due to the advantage of high agility in data processing.

The cloud deployment model in Singapore will register a growth rate of 20% through 2027 as it allows the incorporation of data from all sources, at a big data scale, and across all channels.

Major participants in the market comprise GoodData Corporation, Information Builders, MicroStrategy, Inc., Domo, Inc., Alteryx, Inc., Tableau Software LLC., TIBCO Software, Inc., Microsoft Corporation, Zoho Corporation, and others.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 20
  • Tables & Figures: 540
  • Countries covered: 22
  • Pages: 320

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