GITNUX MARKETDATA REPORT 2024

Financial Analytics Industry Statistics

The financial analytics industry is experiencing rapid growth, driven by the increasing demand for data-driven insights and decision-making tools in the financial services sector.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we explore the latest statistics and trends shaping the financial analytics industry. From the significant market growth and shifting approaches of financial services firms to the key segments driving innovation and the regions leading adoption, these insights shed light on the future landscape of financial analytics. Join us as we dive into the evolving dynamics of this dynamic sector.

Statistic 1

"The global financial analytics market size was valued at $6.9 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 11.4% from 2019 to 2025."

Statistic 2

"Exactly 51% of all financial services and insurance firms have said that analytics has significantly changed how they approach finance."

Statistic 3

"The largest segment of the financial analytics market is database management, which accounted for 32.7% of the total in 2019."

Statistic 4

"North America holds the major market share in global financial analytics market due to high levels of adoption by banking and insurance industries."

Statistic 5

"The top end-user of financial analytics is bank institutions, who account for 43.3% of the total market."

Statistic 6

"An impressive 60% of financial institutions say that they are planning to increase their investment in analytics over the next year."

Statistic 7

"65% of insurance CFOs plan to increase investment in data analytics technology within the next year."

Statistic 8

"The finance and risk segment is anticipated to witness the highest CAGR of 12.1% during the forecast period of 2019-2025."

Statistic 9

"Financial Risk Management application holds the largest share in the Financial Analytics market."

Statistic 10

"The predictive analysis segment will grow at the highest rate between 2020 and 2025 in the financial analytics market."

Statistic 11

"About 53% of companies believe that data-driven decision making is important for their business."

Statistic 12

"The financial analytics market in Europe accounted for 45.6% of the total market share in 2019."

Statistic 13

"Financial analytics tools lead to a 33% reduction in decision-making time according to a survey."

Statistic 14

"More than 75% of respondents say that data analytics is critical to their organization’s future success."

Statistic 15

"62% of Financial Services organizations are now using advanced analytics to drive digital transformation efforts."

The global financial analytics market is experiencing significant growth, driven by the increasing adoption of analytics in the financial services and insurance industries. Database management is a key segment within this market, and North America holds a major market share due to high levels of adoption by banking and insurance industries. With a focus on finance and risk, financial institutions are planning to increase their investment in analytics, particularly in applications such as financial risk management and predictive analysis. Data-driven decision making is considered crucial for business success, as evidenced by the high percentage of companies emphasizing its importance. The financial analytics market in Europe also plays a substantial role in the industry’s growth. The widespread recognition of the benefits of financial analytics tools, such as reduced decision-making time and improved future success prospects, underscores the significance of analytics within the financial sector.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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