The global financial analytics market exhibited strong growth during 2015-2020. Financial analytics (FA) refers to the investigation of financial statements of an organization through software-based programs. It aims to provide accurate business insights and forecast economic scenarios. The obtained insights are represented numerically and graphically on a digital dashboard to improve business strategy and routine decision-making. FA utilizes business intelligence (BI) and analytical tools for asset and liability management, budgetary control, compliance and risk management. Owing to these benefits, FA finds extensive applications across the banking, financial services and insurance (BFSI), healthcare, manufacturing and information technology (IT) industries.

The rising trend of digitization, along with the increasing adoption of cloud computing across the globe, is among the key factors driving the growth of the market. Various medium- and large-scale organizations are adopting FA solutions for efficient financial planning and budgeting. FA solutions also aid in tracking customer behavior and monitoring revenue generation and expenses, along with the optimum utilization of resources. Furthermore, the integration of machine learning (ML) and artificial intelligence (AI) with FA is also providing a boost to the market growth, as they offer enhanced accuracy and resilience of financial decisions, along with risk mitigation and fraud detection capabilities. Additionally, the growing need to process large amounts of unstructured information for making data-driven organizational decisions is also contributing to the growth of the market. Other factors, including advancements in the BI and big-data (BA) tools, the thriving BFSI industry, along with the growing retail and e-commerce sectors, are projected to drive the market further. Looking forward, IMARC Group expects the global financial analytics market to grow at a CAGR of around 12% during 2021-2026.

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Type:
Database Management System (DBMS)
Data Integration Tools
Query, Reporting & Analysis
Analytics Solutions

Based on the type, database management system currently holds the majority of the market share.

Market Breakup by Component:
Financial Function Analytics
Financial Market Analytics
Managed Services
Professional Services

Based on the component, services currently hold the majority of the market share.

Market Breakup by Application:
Wealth Management
Governance, Risk & Compliance Management
Financial Forecasting & Budgeting
Customer Management
Transaction Monitoring
Stock Management

Market Breakup by Organization Size:
Large Enterprises
Small & Medium Enterprises

Market Breakup by Vertical:
Telecom & IT

Based on the vertical, BFSI currently holds the majority of the market share.

Market Breakup by Region:
North America
United States
Asia Pacific
South Korea
United Kingdom
Latin America
Middle East and Africa

Based on geography, North America currently represents the biggest market for financial analytics.

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Alteryx, Birst, Domo, Fair Isaac Corporation (FICO), Hitachi Vantara, IBM, Information Builders, Microsoft Inc., Oracle Corporation, Qlik, Rosslyn Analytics, SAP, SAS Institute, Teradata Corporation, Tibco Software, Zoho Corporation, etc.

Key questions answered in this report:

How has the global financial analytics market performed so far and how will it perform in the coming years?
What are the key regional markets in the global financial analytics industry?
What has been the impact of COVID-19 on the global financial analytics industry?
What is the breakup of the market based on the type?
What is the breakup of the market based on the components?
What is the breakup of the market based on the application?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the verticals?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global financial analytics industry and who are the key players?
What is the degree of competition in the market?