The global data analytics in the banking market size was US$ 4.9 billion in 2021. The global data analytics in banking market size is estimated to reach US$ 24.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 19.4% during the forecast period from 2022 to 2030.
The banking industry and the clients who use finance products develop vast quantities of data every day. Also, It transformed the track of this detail is processed, creating it achievable to identify patterns and trends, which can be used to notify business judgments on a large scale. This data can be used to comprehend or identify several customer patterns and banking analytics can help boost sales and marketing strategies.
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Factors Affecting Marketing Growth
Data analytics is supporting financial organizations and banks to know the clients and their purchasing patterns and behavior, which is propelling the growth of the global market.
The rise in fraudulent actions such as money laundering, accounting fraud, and payment card fraud is the primary factor propelling the growth of the global market.
Problems associated with execution and integration among financial institutions and banks hinder the growth of the market.
Integration of AI in mobile banking applications and growth in need from expanding economies are anticipated to drive the growth of the global market.
Impact on COVID-19 Analysis
COVID-19 had a considerable effect on the growth of the global market, due to the rise in adoption and use in the banking industry to research and study client data to execute effective strategies. It has gained rapid growth as there is a rise in technological development in the global market. Also, the fintech and bank industries deliver their clients with useful and relevant information to forecast forthcoming assignments and conditions. Thus, driving the growth of the global market.
Regional Analysis
Asia-Pacific is anticipated to be the rapid-growing region in the growth of the global market. This is due to the fact that many financial organizations in the region have adopted predictive analytics for growing the revenue of institutions and enhancing the decision-making ability of the organization.
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Leading Competitors
The prominent players in the global data analytics in the banking market are:
TIBCO Software Inc.
KNIME AG
Zoho Corporation Pvt. Ltd
Sisense Inc.
SAS Institute Inc.
Oracle Corporation
Microsoft Corporation
Aspire Systems
Amazon Web Services
Google
Others
Segmentation Analysis
The global data analytics in banking market segmentation focuses on Application, Component, Deployment Model, Organization Size, Type, and Region.
Segmentation on the basis of Application
Workforce Management
Fraud Detection & Prevention
Customer Management
Sales & Marketing
Others
Segmentation on the basis of Component
Services
Solution
Segmentation on the basis of the Deployment Model
Cloud
On-Premise
Segmentation on the basis of Organization Size
Small & Medium-Sized Enterprises
Large Enterprises
Segmentation on the basis of Type
Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Data Analytics in Banking market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Data Analytics in Banking market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Data Analytics in Banking market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Data Analytics in Banking business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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