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$11.36 Bn Financial Analytics Market - Global Forecast to 2023

/EIN News/ -- Dublin, April 19, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to's offering.

The financial analytics market is expected to grow from USD 6,850.0 million in 2018 to USD 11,366.6 million by 2023, at a CAGR of 10.7% during the forecast period.

As digitalization continues its prevalent path, business models across the finance industry are getting upgraded to survive in the competitive market. As per the current market scenario, financial institutions and the insurance sector are experiencing widespread advancements in products, services, and infrastructure developments, such as the adoption of disruptive technologies that include cryptocurrencies, big data analytics, cybersecurity, and multiple payment platforms.

The increasing digitalization trend, beyond Machine-to-Machine (M2M) process automation, results in a gradual convergence of technologies, data, processes, assets, and people across an integrated ecosystem.

The scope of this report covers the financial analytics market by type, component, application, deployment model, organization size, industry vertical, and region. Among components, the solutions segment is expected to dominate the market and hold a higher market share during the forecast period. Under applications, the customer management segment is expected to grow at the highest CAGR during the forecast period, followed by the wealth management segment.

The retail and eCommerce industry vertical is expected to grow at the highest CAGR during the forecast period, due to the increasing online transactions, and rising frauds and other malicious activities in industry verticals.

Market Dynamics


  • Need for Reducing Planning and Budgeting Cycles
  • Emergence of New IT Applications and Infrastructure Such as Big Data and Advanced Analytics


  • Surge of New Regulations and Financial Standards


  • Increasing Adoption of Predictive Analytics Across Industries
  • Evolution of AI and Machine Learning


  • Integration of Data From Data Silos

Industry Trends

  • Financial Management Ecosystem
  • Regulations
  • Basel Committee on Banking Supervision (BCBS)
  • Basel III
  • Dodd Frank Act
  • General Data Protection Regulation (GDPR)
  • International Financial Reporting Standards (IFRS)
  • Markets in Financial Instruments Directive (MFID)
  • Payment Card Industry Data Security Standard (PCI DSS)
  • Sarbanes-Oxley Act of 2002

Market: Use Cases

  • Use Case #1: Deliver Personalized Interactions
  • Use Case #2: Improving Performance Measures
  • Use Case #3: Increase Revenue and Decrease Customers' Business Inefficiencies

Market: Future Outlook

  • Ai-Enabled Finance

Companies Mentioned

  • Alteryx
  • Birst
  • Domo
  • Fair Isaac Corporation (FICO)
  • Gooddata
  • Google
  • IBM
  • Information Builders
  • Oracle
  • Qlik
  • SAP
  • SAS Institute
  • Teradata
  • Tibco Software
  • Zoho Corporation

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Related Topics: Finance