Financial Analytics Market is expected to grow at a significant rate during the forecast period 2019-2025. Financial analytics is designed to speed up everyday financial work such as preparation of the report, maintain financial data and so on. This enables to answer particular business queries and predict possible future financial scenarios. Financial analytics software presents the data in a graphical representation or in an executive dashboard that is simple to read and interpret compared to a series of spreadsheets with the pivot table. Some of the popular examples of financial analytics software include Balanced Scorecard. It is a financial tool to assess current position and historical performance of the company. The tool analyzes operating income, overall return, capital financing, and other financial specific processes. Additionally, the PrevisionEPM financial reporting is a management tool to build report books and combine real-time accounting and IT information.
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The major factors contributing to the growth of the market include increasing adoption of financial analytics tools by small & medium enterprises and growth in e-commerce sales. For instance, according to the US Department of Commerce, the US retail e-commerce sales were estimated totaled $121.5 billion in 2018 for the third quarter of 2018. This is a rise of 0.8% from the second quarter of 2018. Additionally, in the third quarter of 2018, e-commerce sales accounted for 9.1% of total sales in the US. The trend towards e-commerce sales is boosting the demand for financial analytics solutions for management and keep track of financial transactions and calculate profitability. The platform enables retailers to understand total revenue generation from customers in a particular duration. It aggregates total cost paid to suppliers and associated costs for storage, transportation, and packaging of all stock keeping unit (SKU) sold in a particular period and presents financial earnings. However, privacy and security concerns are hindering the growth of the market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Financial Analytics Market – Segmentation
By Type
- Online Analytical Processing (OLAP) and visualization tools
- Reporting & Analysis
- Consulting & Support Services
- DataBase Management System
- Query
- Others
By Application
- Risk Management
- Profitability Management
- Budgetary Control Management
- Payable Management
- Receivable Management
- Ledger Management
- Asset & Liability Management
- Others
By Vertical
- BFSI (Banking, Financial Services, and Insurance)
- Government
- Healthcare
- Transportation & Logistics
- Retail
- Telecommunication & IT
- Others
Global Financial Analytics Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Comprehensive research methodology of global financial analytics market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global financial analytics market.
- Insights about market determinants which are stimulating the global financial analytics market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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