Home > Media & Technology > Next Generation Technologies > Analytics and Business Intelligence > Financial Analytics Market

Financial Analytics Market Size

Report ID: GMI1923
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Financial Analytics Market Size

The global financial analytics market size was valued at USD 10.9 billion in 2023 and is projected to grow at a CAGR of 11.6% between 2024 and 2032. Businesses and institutions are increasingly relying on data-driven insights, which is boosting the market. Real-time analysis of market shifts, investment patterns, and economic indicators helps with making informed decisions. With the growth of big data, financial analytics tools now offer accurate predictions, risk assessments, and strategic guidance. This enhances competitiveness and allows for proactive responses to changing financial landscapes. Additionally, the growing use of AI in the BFSI sector is expected to further drive market growth.

financial analytics market

To get key market trends

Download Free Sample

Government bodies like the Commodity Futures Trading Commission (CFTC) and the Financial Stability Oversight Council (FSOC) highlight the importance of AI in financial markets. They note that AI improves decision-making and risk management by providing accurate, data-driven insights. The focus on responsible AI use, including fairness, transparency, and explainability, shows the industry's need to optimize resource allocation and portfolio management.

Financial Analytics Market Report Attributes
Report Attribute	Details
Base Year:	2023
Financial Analytics Market Size in 2023:	USD 10.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	11.6%
2024 – 2032 Value Projection:	USD 28.3 Billion
Historical Data for:	2021-2023
No. of Pages:	160
Tables, Charts & Figures:	180
Segments covered:	Component, Deployment model, Organization size, Application, End-use
Growth Drivers:	Increasing need to reduce planning and budgeting cycles Proliferation of Big Data and advanced analytics across financial operations Increasing adoption of predictive analytics across industries
Pitfalls & Challenges:	Data integration complexities from data silos Dynamic regulatory framework and changing financial standards

Learn more about the key segments shaping this market

Download Free Sample

Prescriptive analytics drives the financial analytics market by offering actionable solutions to complex financial problems. By combining predictive models with optimization techniques, it helps in making better decisions. Financial institutions, businesses, and investors benefit from personalized strategies that consider various factors and constraints. This approach improves portfolio management, risk assessment, and resource allocation, leading to better decisions. The demand for advanced insights is driving the adoption of prescriptive analytics, boosting the market's growth.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of financial analytics reached USD 10.9 billion in 2023 and is set to grow at a CAGR of 11.6% from 2024 to 2032, driven by the increasing reliance on data-driven insights.

The large enterprises segment held a market share of over 65% in 2023, benefiting from partnerships that integrate cutting-edge analytics solutions into existing systems.

The BFSI segment held a dominant market share of 25.8% in 2023, led by the need for precise insights into decision-making, risk assessment, fraud detection, and customer experience enhancement.

The U.S. market accounted for 70% of the revenue share in 2023, supported by major financial institutions focusing on real-time decision-making, risk management, and compliance.

Key players in the industry include Domo, Hitachi Vantara, IBM, Microsoft, Oracle, Rosslyn Data Technologies, Salesforce, SAP, SAS, and TIBCO.