Financial Analytics Market worth $6.65 Billion by 2018
Financial Analytics Market categorizes the Global Market by Types (DBMS, Query, Reporting & Analysis, OLAP, Visualization), Applications Assets & Liability, Budgetary Control, General Ledger, Payables, Receivables, Profitability, GRC & by geography.
The global financial analytics market is driving on enhanced technologies in Business Intelligence (BI) and business analytics, high data intensity, competitive differentiator, and increased focus on data transparency. Financial analytics is a part of BI and business analytics market that focuses on finance function across organizations. Increased complexity in financial analysis, growing demand for cloud analytics, increased financial risks and frauds created huge opportunities for financial analytics. Analytics vendors, data integration solution and visualization tools, and database management providers and new start-ups are entering into the market through acquisitions, new innovations, and partnerships. Financial analytics helps end users to do ad-hoc analysis as well as planned analysis of financial data to solve the specific business problems and estimates the future financial scenarios.
MarketsandMarkets has broadly segmented the financial analytics market by types: database management system, data integration tools, query, reporting and analysis, Online Analytical Processing (OLAP) and visualization tools, analytical tools, consulting and support services, and others; by applications: asset and liability management, budgetary control management, general ledger management, payable management, receivable management, profitability management, governance, risk, and compliance management; by deployment type:on-premise and on-demand; by organization size: Small and Medium Businesses (SMBs) and enterprises; by verticals: Banking, Financial Services and Insurance (BFSI), consumer goods and retail, healthcare and life science, government, manufacturing, transportation and logistics, travel and hospitality, telecommunication and Information Technology (IT), media and entertainment, public sector, energy and utilities; by regions: North America (NA), Europe, Latin America (LA), Asia Pacific (APAC), and Middle East and Africa (MEA).