The financial analytics market was dominated by North America in 2020 and is expected to maintain its position during the forecast period.
PORTLAND, PORTLAND, OR, USA, Aug. 23, 2022 /EINPresswire.com/ — Rising adoption of advanced computing devices, increased storage capacities and innovation in analytics tools are driving the growth of the global financial analytics market. However, increasing number of cyber threats and data breaches is restraining the growth of the market.
On the other hand, the untapped potential of emerging countries and the increased awareness of end users on the benefits of financial analysis offer new opportunities in the coming years.
According to the report published by Allied Market Research, the global financial analytics market generated $7.6 billion in 2020 and is expected to reach $19.8 billion by 2030, growing at a CAGR of 10.3% 2021 to 2030.
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• Demand for financial analysis services and solutions has increased during the Covid-19 pandemic, driven by the growing need to make better financial decisions in times of economic uncertainty.
• Moreover, the increase in the volume of data generated by different industries and the need to manage this huge amount of data has also increased the demand for financial analysis.
The report offers detailed segmentation of the global financial analytics market based on component, mode of deployment, organization size, industry vertical, and region.
Based on components, the solutions segment contributed the highest share in 2020, accounting for more than two-thirds of the total market share, and is expected to maintain its dominant share by 2030. However, the services segment is expected to manifest the highest CAGR share of 12.6% from 2021 to 2030.
Based on industry vertical, the BFSI segment held the largest share in 2020, accounting for more than a quarter of the global financial analytics industry, and is expected to maintain its leading position over the course of the year. forecast period. However, the retail and e-commerce segment is estimated to witness the fastest CAGR of 14.5% during the forecast period.
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Based on region, North America accounted for the highest share in 2020, contributing more than a third of the total market share, and is expected to maintain its leading status by 2030. However, the Asia-Pacific is expected to exhibit the fastest CAGR of 13.4% during the forecast period.
Key players of the global financial analytics market analyzed in the research include Deloitte LLP, International Business Machine Corporation, Hitachi Vantara Corporation, Oracle, Microsoft Corporation, SAP SE, Rosslyn Data Technologies, Teradata Corporation, Symphony Teleca Services, Inc. and TIBCO Software. , Inc.
KEY BENEFITS FOR STAKEHOLDERS:
• This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of Financial Analytics Market forecast analysis from 2021 to 2030 to identify Analytics Market Analysis financial in force.
• Market research is offered with information related to key drivers, restraints and opportunities.
• In-depth analysis of the financial analytics market segmentation helps in determining the existing market opportunities.
• Major countries in each region are mapped based on their revenue contribution to the global Financial Analytics market share.
• Positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
• The report includes analysis of regional and global financial analytics market trends, key players, market segments, application areas and market growth strategies.
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