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$23.2bn Global Financial Data Market to Grow in 2010 but Users Remain Cautious Finds Report Buyer - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report
$23.2bn Global Financial Data Market to Grow in 2010 but Users Remain Cautious Finds Report Buyer

 

NewswireToday - /newswire/ - London, United Kingdom, 2010/02/16 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.

   
 
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According to the report “The Global Financial Data Market” the financial data market remained largely unchanged in 2008 compared with 2007 but experienced a sharp decline in sales of 5.5% in 2009.The market was badly affected by the credit crunch and its impact on trading activity, new debt issues and the consolidation of the customer base (including the loss of key customers like Lehman Brothers).

While the negative effects began in late 2007 and continued into 2008, the impact on data spending was delayed until 2009 when data contracts signed at the start of 2008 – before the worst effects of the crunch were felt – came up for renewal.

In response, many data vendors and suppliers tried to improve the value for money of their offers. These moves have ranged from being more flexible when negotiating contracts – e.g. reducing normally fixed annual fees for firms that have lost headcount – to offering more data over a common infrastructure. Some suppliers are also trying as far as possible to price data on a bespoke basis.

Software has held up much better in 2009 compared with financial data, as firms are increasingly seeking to maximise the value of the data they purchase through the use of a range of software such as analytics, risk management solutions etc. As a result, financial data sold with solutions which can help financial firms increase the efficiency of their workflows and related processing functions has received an increase share of data budgets.

Despite seeing growth in 2010, the financial data market will take until 2011 before it reaches its pre-crises peak of sales recorded in 2007.

The 84 page report expects the crunch to leave a long-term legacy on the market in terms of the willingness of financial firms to invest in financial data: stringent cost control is likely to remain a key priority for some time. Indeed, the competitive battleground could well shift from what data is provided to what tools vendors can provide to end users: exploitation of data rather than data acquisition will be the key in the future.

Report Buyer product ID: IRN00012

About Report Buyer
Report Buyer is the independent online store for global business information. The website now lists more than 120,000 company overviews, market research reports, industry studies and business books from over 300 specialist publishers. Thousands of professionals from across the world make ReportBuyer.com their first choice in their search for quality business insight.

 
 
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$23.2bn Global Financial Data Market to Grow in 2010 but Users Remain Cautious Finds Report Buyer

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