Selbyville, Delaware, Aug. 25, 2021 (GLOBE NEWSWIRE) --
According to latest report “Financial Analytics Market by Component (Solution, Service), Deployment Model (On-premise, Cloud), Organization Size (SME, Large Enterprises), Application (General Ledger Analytics, Wealth Management, Budgetary Control Management, GRC Management, Customer Management, Payables/Receivables Analytics, Transaction Monitoring), End-use (Retail & Consumer Goods, BFSI, Manufacturing, IT & Telecom, Government & Public Sector, Transportation & Logistics, Healthcare), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of financial analytics will cross $18 billion by 2027. The increasing adoption of cloud infrastructure coupled with a strong focus on data-driven financial decisions across multiple industry verticals will significantly contribute to the market growth.
The OLAP & visualization tools are anticipated to showcase a significant growth rate over the forecast period due to the increasing demand for fast & intuitive access to centralized data and related calculations for analysis & reporting. This solution is widely adopted across the manufacturing sector owing to its beneficial properties, such as business-focused calculations, trustworthy data & calculations, and flexible self-service reporting, thus supporting the industry growth.
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The cloud segment in the financial analytics market will witness 10% growth rate through 2027 led by the increasing implementation of cloud services across multiple business sectors. The cloud service offers easy access to data and improves security & data privacy. In addition, the emergence of Software-as-a-Service and Platform-as-a-Service is also contributing to the market expansion.
The large enterprises segment will dominate more than 60% of the financial analytics market share by 2027. Large enterprises generate huge amounts of data from various business processes. Financial analytics helps enterprise to improve their analytical processes by evaluating the data to gain valuable insights. Additionally, it offers clear visibility across the company’s operational Key Performance Indicators (KPIs), expenses, customer profitability, revenue, and resource utilization.
The payables/receivables analytics application in the financial analytics market is projected to observe significant growth rate during the forecast period due to the increasing need to manage organizations’ credit-to-cash processes. This application helps enterprises to generate insights and reports by connecting and analyzing data across credit and A/R dashboards. Furthermore, the application attracts investors, aiding the company's overall financial stability and liquidity.
IT & telecom is poised to register a substantial revenue share in the coming years driven by the increasing number of data generated from customers across the globe. Moreover, financial analytics helps organizations to make strategic plans by monitoring multiple needs such as strategic objectives, future connectivity needs, expected ROI, calculated traffic, customer experience, etc.
North America financial analytics market is slated to grow exponentially during 2021 to 2027 impelled by the presence of leading industry players in the region. These leaders are focusing on acquiring local companies and strengthening their capabilities to offer sustainable solutions in the market. For instance, in November 2020, IBM acquired TruQua Enterprises LLC, an IT services and consulting SAP development company. Under this acquisition, IBM migrated its financial platforms to SAP and broadened its financial consulting capabilities.
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Major players operating in the market are ALTERYX, INC., Datapine, FICO, Hitachi Vantara, IBM Corporation., Information Builders, Microsoft Corporation, and Microstrategy, Inc. Companies are focusing on strategic initiatives, such as acquisitions and partnerships, to offer a sustainable solution in the market
Table of Contents (ToC) of the report:
Chapter 3 Financial Analytics Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 By region
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.4 Financial analytics ecosystem analysis
3.4.1 Industry ecosystem analysis
3.4.2 Shareholder profit margin analysis
3.4.3 Vendor matrix
3.5 Financial analytics evolution
3.6 Regulatory landscape
3.7 Technology and innovation landscape
3.7.1 Application Processing Interface (API)
3.7.2 Blockchain
3.7.3 AI and machine learning
3.8 Patent analysis
3.9 Investment portfolio
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.2 Industry pitfalls & challenges
3.11 Porter’s analysis
3.12 PESTEL analysis
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https://www.gminsights.com/toc/detail/financial-analytics-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
