Financial Analytics Market Insights by Leading Companies Future Growth, Demand Forecast to 2023

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

MarketsandMarkets expects the global financial analytics market to grow from USD 6.9 billion in 2018 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 the financial analytics market include a rising need for reducing planning and budgeting cycles and the emergence of new IT applications and infrastructure, such as big data and advanced analytics. Need of real-time recognition of suspicious activities to safeguard confidential information to drive the adoption of financial analytics in fraud detection and prevention.

Fraud attempts have seen a drastic increase in recent times; thus, making fraud detection and prevention more important and applicable across major industries, including BFSI, manufacturing and automotive, retail and ecommerce, telecom and IT, transportation and logistics, healthcare and pharma, energy and utilities, government, education, and real estate. Fraud detection through its real time, near real time, and batch analysis of all its users’ activities, assist companies to safeguard customer and enterprise information, assets, accounts, and transactions. For fraud detection and prevention, financial analytics tools analyze customer data for missing information and provides a holistic view of suspicious transactions. It also screens clients across payment channels, such as wire transfers, checks, fund transfers, deposits, and withdrawals for identifying outliers that might indicate fraud patterns. Data mining technologies such as decision trees, machine learning, AI, cluster analysis, and neural networks are used to generate predictive model for understanding any fraudulent activities across the network.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Financial Analytics Market Insights by Leading Companies Future Growth, Demand Forecast to 2023

Enormous data generation and need for interactive analysis to drive the market in Europe
The European region includes both developed and developing economies. Presently, the SMEs in the UK, Germany, and France are investing in analytics platforms to leverage benefits, and in turn, reduce unwanted costs. As the period of economic turmoil continues in Europe, enterprises are likely to undertake a stronger cost containment stance sooner. Europe is the second-largest regional market in terms of market share for financial analytics, but the growth is expected to decline in the coming years. The primary reason for the lesser growth rate in this region could be the Eurozone crisis. Post-Eurozone crisis, business firms are hesitant to make big investments. The factor is not the inefficiency of the business firms, but the skeptical outlook regarding the ROI. Structural deficiencies, overcapacity, low interest rates, and absence of a pan-European banking regulatory agency further paves way for financial analytics tools in BFSI sector.

Get a PDF Sample for more detailed market insights:https://www.sdki.jp/sample-request-106620
The Final Report will cover the impact analysis of COVID-19 on this industry: Financial Analytics Market Insights by Leading Companies Future Growth, Demand Forecast to 2023

In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the financial analytics market. By Company: Tier 1: 20%, Tier 2: 55%, and Tier 3: 25%
 By Designation: C-Level: 50%, Director Level: 25%, and Others: 25%
 By Region: North America: 60%, Europe: 20%, APAC: 10%, and RoW: 10%

Research coverage
The financial analytics market revenue is primarily classified into revenues from solutions, services, or platforms. The revenue associated with solutions and platform offerings is associated with professional, and managed services. Other segments are application, deployment model, organization size, industry vertical, and region.

Key benefits of the report
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall financial analytics market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.TABLE OF CONTENTS

1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 16
1.3.1 MARKET SEGMENTATION 17
1.3.2 REGIONS COVERED 17
1.4 YEARS CONSIDERED FOR THE STUDY 18
1.5 CURRENCY CONSIDERED 18
1.6 STAKEHOLDERS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.1.1 Key data from secondary sources 20
2.1.2 PRIMARY DATA 21
2.1.2.1 Breakdown of primaries 22
2.1.2.2 Key industry insights 22
2.2 MARKET BREAKUP AND DATA TRIANGULATION 23
2.3 MARKET SIZE ESTIMATION 24
2.4 ASSUMPTIONS FOR THE STUDY 25
2.5 LIMITATIONS OF THE STUDY 25

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Christophe Rude

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