Financial Analytics Market to 2023 by Solution (Financial Functions Analytics and Financial Market Analytics) & Application (Wealth Management, Transaction Monitoring, and Customer Management) - ResearchAndMarkets.com

DUBLIN--()--The "Financial Analytics Market by Solution (Financial Functions Analytics and Financial Market Analytics), Application (Wealth Management, Transaction Monitoring, and Customer Management), and Industry Vertical - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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.

"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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Financial Analytics Market

4.2 Market: Market Share Across Regions

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Need for Reducing Planning and Budgeting Cycles

5.2.1.2 Emergence of New IT Applications and Infrastructure Such as Big Data and Advanced Analytics

5.2.2 Restraints

5.2.2.1 Surge of New Regulations and Financial Standards

5.2.3 Opportunities

5.2.3.1 Increasing Adoption of Predictive Analytics Across Industries

5.2.3.2 Evolution of AI and Machine Learning

5.2.4 Challenges

5.2.4.1 Integration of Data From Data Silos

5.3 Industry Trends

5.3.1 Financial Management Ecosystem

5.3.2 Regulations

5.3.2.1 Basel Committee on Banking Supervision (BCBS)

5.3.2.2 Basel III

5.3.2.3 Dodd Frank Act

5.3.2.4 General Data Protection Regulation (GDPR)

5.3.2.5 International Financial Reporting Standards (IFRS)

5.3.2.6 Markets in Financial Instruments Directive (MFID)

5.3.2.7 Payment Card Industry Data Security Standard (PCI DSS)

5.3.2.8 Sarbanes-Oxley Act of 2002

5.3.3 Market: Use Cases

5.3.3.1 Use Case #1: Deliver Personalized Interactions

5.3.3.2 Use Case #2: Improving Performance Measures

5.3.3.3 Use Case #3: Increase Revenue and Decrease Customers' Business Inefficiencies

5.3.4 Market: Future Outlook

5.3.4.1 Ai-Enabled Finance

6 Financial Analytics Market, By Component

6.1 Introduction

6.2 Solutions

6.2.1 Financial Function Analytics

6.2.2 Financial Market Analytics

6.3 Services

6.3.1 Managed Services

6.3.2 Professional Services

6.3.2.1 Support and Maintenance

6.3.2.2 Deployment and Integration

6.3.2.3 Consulting

7 Market, By Application

7.1 Introduction

7.2 Wealth Management

7.2.1 Capital Management

7.2.2 Asset Liability Management

7.2.3 Investment Management

7.2.4 Others

7.3 Governance, Risk, and Compliance Management

7.3.1 Credit and Market Risk Management

7.3.2 Governance and Compliance Management

7.4 Financial Forecasting and Budgeting

7.4.1 Cash Flow Analytics

7.4.2 Revenue Prediction

7.5 Customer Management

7.5.1 Customer Experience Analytics

7.5.2 Customer Profitability Analytics

7.6 Transaction Monitoring

7.7 Claim Management

7.7.1 Insurance Management

7.8 Fraud Detection and Prevention

7.9 Stock Management

7.9.1 Debt Management

7.9.2 Equity Management

7.10 Others

8 Market, By Deployment Model

8.1 Introduction

8.2 On-Premises

8.3 Cloud

9 Market, By Organization Size

9.1 Introduction

9.2 Large Enterprises

9.3 Small and Medium-Sized Enterprises

10 Financial Analytics Market, By Industry Vertical

10.1 Introduction

10.2 Banking, Financial Services, and Insurance

10.3 Manufacturing and Automotive

10.4 Retail and Ecommerce

10.5 Telecommunications and IT

10.6 Transportation and Logistics

10.7 Healthcare and Pharmaceuticals

10.8 Energy and Utilities

10.9 Government

10.10 Others

11 Market, By Region

12 Competitive Landscape

12.1 Competitive Leadership Mapping

12.2 Strength of Product Portfolio

12.3 Business Strategy Excellence

13 Company Profiles

13.1 Oracle

13.2 IBM

13.3 SAP

13.4 SAS Institute

13.5 Alteryx

13.6 Tibco Software

13.7 Fair Isaac Corporation (FICO)

13.8 Teradata

13.9 Qlik

13.10 Gooddata

13.11 Birst

13.12 Google

13.13 Information Builders

13.14 Zoho Corporation

13.15 Domo

For more information about this report visit https://www.researchandmarkets.com/r/v7bc0v

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Related Topics: Finance

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Finance