Impact of Covid-19 Financial Analytics Market Research Report by IMARC Group 2020- 2025

According to IMARC Group expects the Financial Analytics Market  to exhibit a CAGR of 8.5% during 2020-2025.Financial analytics (FA) refers to an assessment that provides in-depth insight into the organization’s financial status. It is a subset of business intelligence (BI) and analytical tools, which helps to represent the data in the graphical form for easier interpretation and maintenance of business operations. FA has gained traction in recent years as it improves business strategies and everyday decision-making abilities by performing planned and ad-hoc analysis of financial data.

FA finds extensive applications in various sectors, including the banking, financial services, and insurance (BFSI) sector, to manage assets, liabilities, payables, receivables and profitability, governance and risk and compliance (GRC), and budgetary control. Other than this, the healthcare industry also uses financial analytics for collecting, monitoring, visualizing, analyzing and predicting data for evaluating the financial performance of a department. Moreover, the integration of cloud-based solutions and artificial intelligence (AI) with FA has reduced the installation costs, strengthened the compliance frameworks, and helped in detecting fraud and other associated risks. These factors are anticipated to create a positive outlook for the market in the coming years.

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Report Coverage:

  • Historical, Current and Future Market Trends
  • Market Breakup by Type:
    • Database Management System (DBMS)
    • Data Integration Tools
    • Query, Reporting & Analysis
    • Analytics Solutions
    • Others

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

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

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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
    • Others
  • Market Breakup by Organization Size:
    • Large Enterprises
    • Small & Medium Enterprises
  • Market Breakup by Vertical:
    • BFSI
    • Telecom & IT
    • Manufacturing
    • Government
    • Education
    • Others

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

  • Market Breakup by Region:
    • North America
      • United States
      • Canada
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Indonesia
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Russia
      • Others
    • Latin America
      • Brazil
      • Mexico
      • Others
    • 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.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.