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Financial Analytics Market Trends

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

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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.

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.