The global financial analytics market is estimated to register robust growth in 2016- 2022 and is expected to grow at CAGR of 14.45% during 2016-2022. The financial analytics market is segmented on the basis of application, organization size, type, verticals, deployment type and geography. The application segment is segmented into assets and liability management, budgetary control management, general ledger management, Governance, Risk and Compliance (GRC) management, payables management, profitability management, receivables management and others. the organization size segment is segmented into large enterprises and small and medium business. The deployment type segment is segmented into on-demand and on-premise.
The improved technologies in business analytics and increased emphasis on data transparency is rising the growth in the global financial analytics market. Various key players are indulging in various R&D activity to develop financial analytics on various platforms to different business or organization size; to enhance efficiency which backing up in capturing the market potential available in the across the globe. Various key players of financial analytics are adopting the strategic initiatives to maintain position in the global financial analytics market. The high data strength in the world is one of the major factor which is increasing the growth in the financial analytics in the global market.
The financial analytics market is majorly driven by the improved technologies in business analytics is increasing the scope of financial analytics in global market. However, the increasing security and privacy concerns are hampering the growth in the market. The global financial analytics market is having huge opportunities such as amplified complexity in financial analysis and rising demand for cloud analytics are creating huge opportunities in the forecasted period. the growing development in the emerging economies is increasing the scope of the business enterprises in such countries; that is enhancing the scope of the financial analytics in the emerging countries.
On the basis of geography North America, Europe, Asia Pacific and ROW are the major segments. The North America hold the largest market share and dominate in the global market followed by Europe, Asia Pacific and ROW in the global Financial Analytics market. The growth in North America market is majorly driven by the increasing technological advancement and presence of key players in the North American region. Moreover, the improved technologies in business analytics is also injecting huge growth opportunity in the North American financial analytics market. The Asia pacific Financial Analytics market is expected to grow with an impressive CAGR during the forecasted period 2016-2022. The growth in the region is mainly driven by massive growth in the business and strong economic growth in the various emerging countries such as India and China. The increasing number of business and economic activity in the Asia Pacific region is boosting the demand for the financial analytics in the Asia Pacific region. Moreover, the growing financial frauds and risks and rising demand for cloud analytics is creating huge growth opportunity in the Asia Pacific financial analytics market. Although, the improved technologies for business analytics is one of the major factor which is driving the growth in the regional financial analytics market.