Financial Analytics Solutions Empowering Companies in Predicting Market Trends More Accurately to Enable Effective Decision-Making: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, July 16, 2024 /
EINPresswire.com/ -- As per a recently updated industry report published by Fact.MR, the global
financial analytics market is estimated to be worth US$ 12.19 billion in 2024 and further expand at a CAGR of 8.8% from 2024 to 2034.
Due to the increasing complexity of global markets and the widespread availability of big data, there is a growing global demand for financial analytics. Businesses across various industries are recognizing the ability of financial analytics to transform unstructured data into valuable insights that drive competitive advantage and strategic decision-making.
Financial analytics tools are increasingly critical for tasks such as risk management, fraud detection, and enhancing operational efficiency. They empower companies to predict market trends, manage investment portfolios more effectively, and refine client segmentation strategies. These solutions also play a crucial role in ensuring regulatory compliance and streamlining reporting processes amid tightening regulations.
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Capabilities of financial analytics have been significantly augmented by advancements in artificial intelligence and machine learning, enabling more accurate forecasts and real-time analysis. The increasing need for data-driven decision-making in a volatile economic landscape, coupled with technological advancements, is fueling the global demand for financial analytics.
Financial analytics adoption is evolving from a competitive advantage to a necessity for companies of all sizes, establishing its status as an indispensable component of modern business strategy.
Key Takeaways from Market Study
The global financial analytics market is forecasted to reach a size of US$ 28.34 billion by 2034. The East Asia market is analyzed to expand at a CAGR of 10.3% from 2024 to 2034. North America is projected to hold a market share of 24% by the end of 2034.
The Mexico market is forecasted to expand at a CAGR of 8.6% from 2024 to 2034. Japan is forecasted to hold a share of 29.4% by 2034 in the East Asia region. The on-cloud segment is expected to reach a value of US$ 8.5 billion in 2024.
“Advancements in artificial intelligence and machine learning are enhancing the capabilities of financial analytics, enabling more accurate real-time analysis,” says a Fact.MR analyst.
Natural Language Processing Enhancing Accessibility to Complex Financial Information
Analysts' interactions with data are undergoing transformation due to Natural Language Processing (NLP), which enhances accessibility to complex financial information. Cloud-based analytics systems are enhancing scalability and collaboration, while edge computing enables faster processing of time-sensitive financial data.
These advancements are not only boosting the speed and accuracy of financial analytics but also expanding its applicability across various sectors. Consequently, there is a persistent global demand for advanced financial analytics solutions as businesses recognize their critical role in maintaining competitiveness in today's data-driven economy.
Key Companies Profiled: Oracle Corporation; IBM Corporation; SAP SE; Teradata Corporation; TIBCO Software; SAS Institute; Alteryx; Qlik; FICO; Infor Birst; Google LLC; Information Builders; Zoho Corporation; Domo Inc.
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Country-wise Analysis
The market in Japan is forecast to expand at a CAGR of 10.5% from 2024 to 2034. Japan is poised to occupy a financial analytics market share of 29.4% in East Asia by the end of 2034.
Application of analytics is enhancing financial management in the United States real estate sector. Over time, the concept of using digital solutions to leverage big data and streamline real estate workflows has gained traction.
Real estate organizations are increasingly employing advanced financial analytics software to monitor their daily business transactions due to the high volume of financial activities in this industry. Executives are urging their companies to maximize the potential of their extensive transaction records, property appraisals, asset management, and listings through financial analytics platforms.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the financial analytics market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on component (financial analytics solutions, financial analytics services), application (financial wealth management, financial governance, risk & compliance management, financial forecasting & budgeting, customer financial management, financial transaction monitoring, financial claims management, financial fraud detection & prevention, financial stock management), deployment (on-premise, cloud-based), organization size (SMEs, large enterprises), and vertical (BFSI, IT & telecom, government, energy & utilities, manufacturing & automotive, healthcare & pharmaceuticals, retail & e-commerce, media & entertainment, transportation & logistics, other verticals), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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