According to the report titled ‘Financial Analytics Market Size By Component, 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, global financial analytics market is expected to accumulate significant revenues during the forecast period 2021-2027.
 

Preference among enterprises for reliable data-driven financial insights for improved risk & compliance management and to shorten planning & budgeting cycles to support accurate financial forecasting is the major growth determinant for global financial analytics market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4202296/
 

Also, emergence of Big Data & advanced analytics for economic transactions, widespread application of predictive analytics across businesses and heavy investments in the fintech sector are favoring the industry outlook.
 

Citing an instance, TIBCO Software, Inc. acquired Information Builders, Inc. (ibi) in January 2021 to embed ibi's data management & analytics portfolio into its enhanced connected intelligence platform to deliver timely data-driven insights. Despite the optimistic outlook, data integration challenges from data silos, unstable regulatory framework, and changing accounting policies are likely to hamper industry development in the coming years. Based on component, the query, reporting & analysis solutions segment of financial analytics market is anticipated to grow at 10% CAGR over the projected timeframe, owing to swift reporting features, and successful implementation across multiple lines of business. Meanwhile, the professional services segment held a 65% market share in the year 2020 and is poised to grow substantially between 2021 and 2027, due to increase in demand for consultation, deployment, installation, integration, and maintenance services. Concerning application spectrum, the general ledger analytics segment possessed a 15% industry share in 2020 and is projected to observe sizeable expansion over the study period, pertaining to surging demand for analytical solutions in business transactions. In terms of end-use scope, the retail & consumer goods arena is estimated to hold 15% market share by the end of 2027, owing to escalating sales of goods and services. From a regional standpoint, Middle East & Africa market is anticipated to grow at 5% CAGR through 2027, on account of increasing proliferation of Big Data analytics in the region.

The competitive landscape of global financial analytics market is defined by companies such as International Business Machines Corporation (IBM), Fair Isaac Corporation (FICO), Rosslyn Data Technologies, Alteryx Inc., Microsoft Corporation, Oracle Corporation, GoodData Corporation, MicroStrategy Incorporated, QlikTech International AB, RIB Datapine GmbH, Hitachi Vantara LLC, SAP SE, Information Builders Inc., Domo Inc., and Salesforce.com Inc. among others.