Financial analytics market revenue was US$ 9.3 billion in 2021, and it is anticipated to grow by around 11% year over year to US$ 10.3 billion in 2022. The market is anticipated to grow at a CAGR of 9.3% from 2022 to 2032 when it will be worth US$ 25.1 billion. The use of effective financial analytics technologies has expanded as financial transaction volumes across important industries have increased.
The financial analytics sector is expected to have a significant expansion, particularly in wealth management. While demand for financial analytics solutions increased at a CAGR of 10% from 2015 to 2021, the wealth management segment grew at a value CAGR of 10.1%. Geographically, the United States is expected to represent a 4.6 billion dollar opportunity until 2032.
Throughout the projection period, the U.S. is expected to grow at a CAGR of 8.8%, reaching a valuation of $8 billion in 2032. Its application in improving financial management across the real estate sector is credited with driving the industry’s growth. The use of digital tools to integrate big data has been considered as a solution to streamline the real estate industry over the years.
Companies in the real estate sector are using sophisticated financial analytics software to keep track of day-to-day business operations due to the volume of financial transactions that take place across the whole industry. Executives are pressuring their organizations to maximize the value of their decades’ worth of transactional, real estate valuation, asset management, and listing records.
Fact.MR projects that between 2022 and 2032, the market for financial analytics solutions will grow at a CAGR of 8.8%. In the following decade, market growth is anticipated to be skewed by recent developments in financial analytics solutions that offer the most simplified client experiences across key sectors.
Given the rising volume of digital transactions, there will be a large increase in both the deployment of financial function and financial market analytics solutions. This speed has accelerated significantly since the end of the pandemic. Solutions for advanced financial analytics aid in risk management and security.
Competitive Environment
Because there are so many service providers, the global financial analytics market is extremely competitive. Due to the quick digitization of the global financial scene, prominent businesses are now providing extremely innovative software solutions. In addition, crucial growth methods like mergers and acquisitions, partnerships, and collaborations are also used.
- Oracle Corporation announced changes to its Fusion ERP Analytics platform in November 2021, allowing finance and operations professionals to see more clearly what costs and assets they have to help them make faster decisions. With these enhancements, KPIs, measurements, and dashboards can be better understood without the requirement for scripting, integration, or data experience.
- In March 2022, SAP SE declared that it had successfully acquired the majority of Taulia, a renowned supplier of working capital management systems. This acquisition will strengthen SAP’s solutions portfolio for the CFO office and feed its business network. Taulia’s products will continue to be offered independently as well as being fully integrated with SAP software.
