(PRWEB) January 06, 2014
The report “Financial Analytics Market [by Types (DBMS, Query, Reporting & Analysis, OLAP, Visualization), Applications Assets & Liability, Budgetary Control, General Ledger, Payables, Receivables, Profitability, GRC] - Worldwide Market Forecasts (2013 - 2018)” defines and segments the financial analytics market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights on trends, opportunities, and challenges.
Browse 91 market data tables and 21 figures spread through 200 pages and in-depth TOC on "Financial Analytics Market - Worldwide Market Forecasts (2013 - 2018)"
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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).
MarketsandMarkets believes that the huge number of business dimensions and security concern are the major issues in the financial analytics market. These challenges are restraining the enterprises and customers to adopt financial analytics to support a wide range of applications such as asset and liability management, budgetary control management, general ledger management, payable management, receivable management, profitability management, governance, risk, and compliance management.
The financial analytics market is estimated to grow from $3.65 billion in 2013 to $6.65 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 12.9% from 2013 to 2018. In terms of regions, North America is expected to be the biggest market in terms of revenue contribution, while emerging economies such as Middle East and Africa (MEA), and Latin America (LA) and Asia-Pacific (APAC) are expected to experience increased market traction with high CAGRs, in the due course.
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