The business analysis report titled ‘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’, available with MarketStudyReport,  states that the financial analytics market is expected to amass substantial returns during 2021-2027.
 

Industry veterans are of the opinion that the rapid growth of data-driven financial analytics and insights across various industries is anticipated to infuse growth in financial analytics market over the forecast period.
 

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Furthermore, the increasing dependency of enterprises across the world on financial analytics and the demand for accurate insights to support financial forecasting are playing a vital role in amplifying the market growth.
 

However, data integration complexities, dynamic regulatory framework, and changing financial standards may impede growth during the analysis period.
 

Based on component, the market has been fragmented into service and solutions. The sub-segment of query, reporting and analysis within the division of solutions is projected to grow at a CAGR of 10% owing to widespread adoption across various industries and fast reporting capabilities.
 

Meanwhile, the professional services sub-division captured approximately 65% of global financial analytics industry share in 2020 and is expected to maintain a stable growth trend through 2027 due to a rise in demand for consultation, deployment, integration, installation, and maintenance services.
 

From the perspective of application, the sub-segment of budgetary control segment is anticipated to amass substantial returns and progress at a stable CAGR of 10% during the assessment timeline as a result of increased product demand in the manufacturing sector for reducing wastage.
 

Speaking of the end user scope, the retail and consumer goods sub-segment is expected to record a CAGR of more than 15% due to a surge in the sales of goods and services.
 

On the other hand, the transportation and logistics sub-division is slated to witness a substantial growth rate of 12% owing to shifting preference towards data collection, analysis and forecast services.
 

From a regional frame of reference, Middle East and Africa financial analytics market is expected to record a CAGR of more than 5% due to increasing adoption of big data analytics in the area. Meanwhile, the LATAM market grabbed 9% of the overall revenue in 2020 and slated to grow considerably due to rapidly progressing e-commerce industry.
 

Prominent industry players are Teradata Corporation, MicroStrategy Incorporated, SAP SE, Alteryx, Salesforce, Microsoft Corporation, IBM Corporation, Fair Issac and Company, and Hitachi Vantara Corporation.