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Financial Analytics Market 2019 primed for rapid growth

 



(MoneyNewsWire.Net, June 24, 2019 ) According to a new market research report, "Financial Analytics Market by Solution (Financial Functions Analytics and Financial Market Analytics), Application (Wealth Management, Transaction Monitoring, and Customer Management), and Industry Vertical - Global Forecast to 2023", Published by MarketsandMarkets™, the global Financial Analytics Market expected to grow from USD 6.9 billion in 2019 to USD 11.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period.

The key factors driving Financial Analytics Market include an increasing need for reducing planning and budgeting cycles and emergence of new IT applications and infrastructure, such as big data and advanced analytics.

Browse and in-depth TOC on "Financial Analytics Market”
76–Tables
34- Figures
150– Pages

Ask for Report Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1303

BFSI vertical to account for the largest market size during the forecast period

The BFSI vertical is undergoing significant transformation while facing challenges due to stringent regulations and increasing customer demands. Financial analytics helps companies overcome these challenges and achieve their business goals by providing them with risk quantification and finance process automation. The utilization of financial analytics technology in the banking industry is increased to balance short and long-term strategies through pre-configured capabilities and built-in methodologies, such as regulatory risk management, capital planning, credit risk management, insurance risk management, and risk governance capabilities in compliance with changing regulations and financial standards.

Large organizations to account for a larger market size during the forecast period

Large enterprises generate large volumes of data which can be attributed to the wide spread client base. In large enterprises, financial data plays a major role in evaluating the overall performance of the organization and good quality data has always been a key enabler for organizations to focus on enhancing their core competencies which ultimately lead them to have a competitive edge over their competitors. Financial analytics carries extreme potential for large organizations as poor performances may cast them with the loss of clients, affecting their brand name. Moreover, large organizations are obligated toward adhering to stringent compliance regulations such as GDPR and other banking related regulations (Basel III and Dodd–Frank Wall Street Reform) and Consumer Protection Act; these regulations are driving the adoption of financial analytics among large enterprises.

Increasing need for improving customer experience through customized campaigns

Customer management applications in financial analytics help companies manage customer payment behavior by deploying collection actions at the right time. This further improves efficiency of company’s collection department, and increase customer satisfaction by reducing dispute resolution time. The outcomes help reduce bad debts and increase cash flow. Combining the financial data with operational data provides insight into customer wants and needs further helping companies to create customized marketing campaigns. These campaigns lead to customer retention through enhanced customer profitability. The customer management applications include customer experience analytics and customer profitability analytics.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1303

Indispensable need to predict future business possibilities to drive adoption of big data-related technologies in North America

The adoption of financial analytics solutions is expected to be the highest in North America. It is mainly because of Canada and the US and the focus on innovations obtained from R&D and technology. North America, which is the hub of data generation in large quantities, is the largest market for financial analytics tools. The high penetration of financial analytics in multiple industry verticals, such as manufacturing, healthcare, transportation, and logistics, is driving the growth of the market in the region. North America has been extremely open towards the adoption of any new and innovative technologies and is expected to provide market growth opportunities to financial analytics vendors, as it is expected to witness the exponential growth of IT device-based generated data, and stringent laws and policies for safeguarding the data. The indispensable need to predict future business scenarios and the rising adoption of big data-related technologies are said to have historically driven the overall growth of the Financial Analytics Market in this region.

Major vendors offering financial analytics solutions globally include Oracle (US), IBM (US), Teradata (US), TIBCO Software (US), SAP (Germany), SAS Institute (US), Alteryx (US), Qlik (US), FICO (US), GoodData (US), Birst (US), Google (US), Information Builders (US), Zoho Corporation (US), and Domo (US). The study includes an in-depth competitive analysis of the key players in the Financial Analytics Market, along with their company profiles, recent developments, and key market strategies.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com


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