The global Financial Analytics market has been segmented based on: deployment mode, organization size, tools, applications & by end users. These categories are further segmented as follows The deployment mode comprises of on-premises and cloud.
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The organization size may be segmented into large enterprise and small medium businesses. The Financial Analytics Market by tool is segmented into analytical solutions, database management systems (DBMS), data integration tools, OLAP & visualization tools, query, reporting & analysis, and consulting & support services.
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The Global Financial Analytics Market which was valued at $5236 million in the year 2016 is likely to grow up to $18084 million by the end of 2025 with an anticipated CAGR of 14.94% over the forecast period of 2017-2025. Some of the factors driving the market growth are Changing Business Environments, Growing need for analyzing the financial data, Increase demand for Financial Analytics solutions from numerous industries, Exponential requirement from Asset Management Firms.
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Most of the companies are adopting strategies such as partnership, merger & acquisition, agreements, contracts, or new product launch, in order to gain a competitive edge over each other. For example, CSC declared merger with Hewlett Packard Enterprises Services Segment in order to improve its financial performance and client satisfaction scores in 2016.
The company IBM has also announced the acquisition of Promontory Financial Group, a US based financial service company. Some of the other prominent players in the market include: Deloitte, International Business Machines Corporation (IBM), SAP SE, SAS Institute, Fair, Isaac & Company (FICO), Hitachi Consulting Corporation and others.
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The application segment can be further classified into general ledger management, assets and liability management, budgetary control management, governance, risk, and compliance (GRC) management, profitability management,. The end-users can be classified into banking, financial services & insurance (BFSI), consumer goods & retail, public sector, energy & utilities, transportation & logistics, healthcare & life sciences and other end user industries.
Global Financial Analytics market has been segmented into the following region Europe: United, Kingdom, Germany, Spain, Italy & Rest of Europe., North America: United States & Canada, Asia Pacific: China, India, Japan, Australia & Rest of Asia Pacific., Rest of world: Latin America, Middle East & North Africa and Rest of Africa.
The Financial Analytics market is divided into 4 major regions that include North America (U.S., Canada and rest of North America), Asia Pacific (China, India, Japan, Vietnam, Philippines, Australia, South Korea, and RoAPAC), Europe (UK, Finland, Sweden, Norway, Germany, RoE) and the rest of the world (Kenya, Tanzania, Zimbabwe, Rwanda, Nigeria and others). The North American market is the dominating region in the global Financial Analytics market with the United States being the major contributing country.
The Asia-Pacific region too has witnessed a rapid development over the past few years with countries like China, India, South Korea and Japan being its major contributors.
At present, North America is the world leader in the Financial Analytics market. It accounted for about 40% of the market share in the year 2016.
The Asia Pacific region is expected to be the fastest growing region over the forecast period of 2017-2025. The growing adoption of cloud based financial analytic tools that are easily available to the companies is propelling the growth of the market in the Asia Pacific region.
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