Algorithmic Trading Market by Component, End-User and Geography - Forecast and Analysis 2023-2027

Published: Oct 2023 Pages: 166 SKU: IRTNTR44209

Algorithmic Trading Market Forecast 2023-2027

The algorithmic trading market size is estimated to grow by USD 11.19 billion at a CAGR of 12.23% between 2022 and 2027. Market growth is influenced by several factors, including the high demand for market surveillance solutions to ensure compliance and integrity, the increasing integration of financial markets, and the expanding opportunities in the Asia-Pacific (APAC) region. The need for robust surveillance systems to detect and prevent market abuse is driving market growth. Additionally, the integration of global financial markets is creating a need for advanced surveillance tools to monitor transactions across borders. The APAC region presents significant growth opportunities due to its large and rapidly growing economies, increasing regulatory scrutiny, and the need for sophisticated surveillance systems to maintain market integrity.

It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This market report extensively covers segmentation by component (solutions and services), end-user (institutional investors, retail investors, long-term investors, and short-term investors), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

By Component

The market share growth by the solutions segment will be significant during the forecast period. The solutions segment mainly includes the software used by traders for algorithmic trading. Algorithmic trading requires software platforms for the execution of large trade orders. To effectively manage high volumes of orders in time, algorithms are employed by private trading firms, hedge funds, and investment banks. With software integration into trade systems, traders can earn profits much more quickly than they traditionally do.

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The solutions segment shows a gradual increase in the market share of USD 6.44 billion in 2017. To assist traders in the management of trading for funds and investments, companies offer a comprehensive range of software solutions. Customization as per user requirement, fast, automatic processing of high-volume data, reliability, cost-effectiveness, and availability of guidance for installation and customization are the major features associated with this software solution. 

By Region

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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the growth during the forecast period.

The growth of financial trading has increased significantly in North America. Continuous trade monitoring and surveillance in the market, presence of retail and institutional traders, increasing focus on technology development, growing focus on AI and machine learning tools, and presence of prominent companies are the major factors driving the growth in North America.

Market Dynamics and Customer Landscape

The market is driven by the adoption of algo trading and black box trading, where computer programs execute trades based on mathematical algorithms and predefined rules. This approach is widely used in trading for stocks in stock market, bonds, currencies, and commodities, offering automation and reducing the risk of human error. However, it also faces challenges such as market volatility and price fluctuations. The rise of the cryptocurrency market has further expanded the scope of algorithmic trading. Financial institutions, including pension funds and mutual funds, are increasingly using artificial intelligence (AI) and cloud-based solutions for automated trading to improve efficiency and response times. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The high demand for market surveillance is driving growth in the market. There is an increase in the demand for market surveillance in the market that should drive compliance requirements so that market participants can keep track of their investment patterns and trading activities over the forecast period. To optimize their data management strategies and address the shortcomings of systems, top market players are attempting to do so. companies must build a market with international as well as regional interdependencies.

However, this, in turn, will help market players have the best assets globally. To build high-risk infrastructures and augment the equity market over the forecast period, strategies are being formulated. These strategies may include the adoption of Hybrid cloud solutions to enhance flexibility and scalability, as well as automation to streamline processes and reduce operational costs. Additionally, the use of financial service algorithms can help in making data-driven investment decisions and managing risks more effectively in the equity market. To meet the needs of a growing client base, insurance agents are attempting to set up risk management platforms. Market surveillance is expected to monitor and detect manipulation, abuse, and fraudulent behaviour patterns in the market across orders and trades, which is expected to drive the growth of the market in focus during the forecast period.

Significant Market Trends

Technological advancement is a primary trend in a market. The introduction of numerous electronic trading technologies has helped companies, as well as customers. The incorporation of liquidity aggregation and algorithmic trading across different geographies has provided easy access to a broader range of market participants. This has also enabled market participants to take share risks which result in reduced trading costs and shorter execution times. Technological developments have led to a reduction in the cost of searching, which is regarded as an important feature of OTC markets.

However, many financial institutions are now focusing on ensuring the transparency of collaterals available to market participants. To achieve this, banks focus on efficient decision-making. Banks are also trying to reduce the operational risks involved in a collateral transaction by monitoring credit risks. During the forecast period, they are expected to invest heavily in collateral management, focusing on collateral optimization, cheapest-to-deliver algorithms, and maximizing profits, which are expected to drive the growth of the market in focus.

Major Market Challenge

The lack of awareness is a major challenge in a market. A few market participants are unaware of the existing best practices and guidance in the market. They're making decisions that make short-term gains. To preserve the integrity of the market, these practices may become unsustainable and need to be avoided. Language in connection with the protection of confidential information and data shall also be used. This is expected to enforce an internal control system in different FX transactions and promote greater adherence to those practices during the forecast period.

A uniform global code of conduct and principles made by the Bank for International Settlements (BIS) Markets Committee promotes greater adherence to the guidance. Creating a single global code of conduct for the FX market is a significant move. However, the same does not seem sufficient. Best practices to complement these rules should also be included. The Global Code of Conduct may ensure the smooth functioning of the markets and provide sufficient confidence between players to treat each other well, which is expected to hinder the market growth during the forecast period if it is supported by integrity and function.

Key Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

63 Moons Technologies Ltd. - The company offers algorithmic trading solutions through a platform called ODIN.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • AlgoBlocks
  • AlgoBulls Technologies Pvt. Ltd.
  • AlpacaDB Inc.
  • Argo SE
  • Auros
  • CRYPTO TECHFIN SL
  • InfoReach Inc.
  • iRageCapital Advisory Pvt. Ltd.
  • MetaQuotes Ltd.
  • QuantConnect Corp.
  • QuantCore Capital Management LLC
  • Refinitiv
  • Software AG
  • Symphony Fintech Solutions Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Component Outlook 
    • Solutions
    • Services
  • End-User Outlook 
    • Institutional investors
    • Retail investors
    • Long-term investors
    • Short-term investors
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Argentina
      • Brazil

Market Analyst Overview

The market is characterized by the use of computer programmes that execute trades based on predefined rules, offering benefits such as market transparency, accountability, and speed. These algorithms are deployed on algorithmic trading platforms, often using Cloud based solutions, Cloud based deployment, Cloud based trading, for scalability and accessibility. Large enterprises and capital markets firms use financial service algorithms and matching engines to enhance trading efficiency. Despite its advantages, algorithmic trading has also been associated with risks such as flash crashes, prompting the need for robust cloud technologies and business agility. Asset management firms and trading firms increasingly rely on workflow solutions and digital onboarding solution for efficient operations in the algorithmic trading landscape.

Moreover, in the market, computer programs play a crucial role in executing trades swiftly and efficiently, particularly in dealing with high trading volume. These programs are often supported by professional services and software technology services to ensure seamless operation. Blockchain technology is increasingly integrated into algorithmic trading systems for Workflow solution and digital onboarding, enhancing security and transparency. The use of covert execution algorithms and automated trading bots further streamlines trading processes, allowing for quick and precise transactions. Platforms like DoubleVerify are utilized for verification and validation purposes, ensuring the integrity of trades in the algorithmic trading ecosystem.

Market Scope

Report Coverage

Details

Page number

166

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 12.23%

Market growth 2023-2027

USD 11.19 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

12.05

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 35%

Key countries

US, China, Japan, UK, and Germany

Competitive landscape

 Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks

Key companies profiled

63 moons Technologies Ltd., AlgoBlocks, AlgoBulls Technologies Pvt. Ltd., AlpacaDB Inc., Argo SE, Auros, CRYPTO TECHFIN SL, InfoReach Inc., iRageCapital Advisory Pvt. Ltd., MetaQuotes Ltd., QuantConnect Corp., QuantCore Capital Management LLC, Refinitiv, Software AG, Symphony Fintech Solutions Pvt. Ltd., Tata Consultancy Services Ltd., Thomson Reuters Corp., uTrade, Wyden AG, and VIRTU Financial Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Algorithmic Trading Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global algorithmic trading market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global algorithmic trading market 2017 - 2021 ($ million)
    • 4.2 Component Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Component

    • 6.1 Market segments
      • Exhibit 30: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
    • 6.2 Comparison by Component
      • Exhibit 32: Chart on Comparison by Component
      • Exhibit 33: Data Table on Comparison by Component
    • 6.3 Solutions - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Solutions - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Solutions - Year-over-year growth 2022-2027 (%)
    • 6.4 Services - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Component
      • Exhibit 42: Market opportunity by Component ($ million)
      • Exhibit 43: Data Table on Market opportunity by Component ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 44: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 45: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 46: Chart on Comparison by End-user
      • Exhibit 47: Data Table on Comparison by End-user
    • 7.3 Institutional investors - Market size and forecast 2022-2027
      • Exhibit 48: Chart on Institutional investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Data Table on Institutional investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 50: Chart on Institutional investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on Institutional investors - Year-over-year growth 2022-2027 (%)
    • 7.4 Retail investors - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Retail investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Data Table on Retail investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 54: Chart on Retail investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Retail investors - Year-over-year growth 2022-2027 (%)
    • 7.5 Long-term investors - Market size and forecast 2022-2027
      • Exhibit 56: Chart on Long-term investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Data Table on Long-term investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 58: Chart on Long-term investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on Long-term investors - Year-over-year growth 2022-2027 (%)
    • 7.6 Short-term investors - Market size and forecast 2022-2027
      • Exhibit 60: Chart on Short-term investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Data Table on Short-term investors - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Chart on Short-term investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on Short-term investors - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by End-user
      • Exhibit 64: Market opportunity by End-user ($ million)
      • Exhibit 65: Data Table on Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 67: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 69: Chart on Geographic comparison
      • Exhibit 70: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 111: Market opportunity by geography ($ million)
      • Exhibit 112: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 113: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 115: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 116: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 117: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 118: Matrix on vendor position and classification
            • 12.3 63 moons Technologies Ltd.
              • Exhibit 119: 63 moons Technologies Ltd. - Overview
              • Exhibit 120: 63 moons Technologies Ltd. - Business segments
              • Exhibit 121: 63 moons Technologies Ltd. - Key offerings
              • Exhibit 122: 63 moons Technologies Ltd. - Segment focus
            • 12.4 AlgoBulls Technologies Pvt. Ltd.
              • Exhibit 123: AlgoBulls Technologies Pvt. Ltd. - Overview
              • Exhibit 124: AlgoBulls Technologies Pvt. Ltd. - Product / Service
              • Exhibit 125: AlgoBulls Technologies Pvt. Ltd. - Key offerings
            • 12.5 AlpacaDB Inc.
              • Exhibit 126: AlpacaDB Inc. - Overview
              • Exhibit 127: AlpacaDB Inc. - Product / Service
              • Exhibit 128: AlpacaDB Inc. - Key offerings
            • 12.6 Argo SE
              • Exhibit 129: Argo SE - Overview
              • Exhibit 130: Argo SE - Product / Service
              • Exhibit 131: Argo SE - Key offerings
            • 12.7 InfoReach Inc.
              • Exhibit 132: InfoReach Inc. - Overview
              • Exhibit 133: InfoReach Inc. - Product / Service
              • Exhibit 134: InfoReach Inc. - Key offerings
            • 12.8 MetaQuotes Ltd.
              • Exhibit 135: MetaQuotes Ltd. - Overview
              • Exhibit 136: MetaQuotes Ltd. - Product / Service
              • Exhibit 137: MetaQuotes Ltd. - Key offerings
            • 12.9 QuantConnect Corp.
              • Exhibit 138: QuantConnect Corp. - Overview
              • Exhibit 139: QuantConnect Corp. - Product / Service
              • Exhibit 140: QuantConnect Corp. - Key offerings
            • 12.10 Refinitiv
              • Exhibit 141: Refinitiv - Overview
              • Exhibit 142: Refinitiv - Product / Service
              • Exhibit 143: Refinitiv - Key offerings
            • 12.11 Software AG
              • Exhibit 144: Software AG - Overview
              • Exhibit 145: Software AG - Business segments
              • Exhibit 146: Software AG - Key offerings
              • Exhibit 147: Software AG - Segment focus
            • 12.12 Symphony Fintech Solutions Pvt. Ltd.
              • Exhibit 148: Symphony Fintech Solutions Pvt. Ltd. - Overview
              • Exhibit 149: Symphony Fintech Solutions Pvt. Ltd. - Product / Service
              • Exhibit 150: Symphony Fintech Solutions Pvt. Ltd. - Key offerings
            • 12.13 Tata Consultancy Services Ltd.
              • Exhibit 151: Tata Consultancy Services Ltd. - Overview
              • Exhibit 152: Tata Consultancy Services Ltd. - Business segments
              • Exhibit 153: Tata Consultancy Services Ltd. - Key news
              • Exhibit 154: Tata Consultancy Services Ltd. - Key offerings
              • Exhibit 155: Tata Consultancy Services Ltd. - Segment focus
            • 12.14 Thomson Reuters Corp.
              • Exhibit 156: Thomson Reuters Corp. - Overview
              • Exhibit 157: Thomson Reuters Corp. - Business segments
              • Exhibit 158: Thomson Reuters Corp. - Key offerings
              • Exhibit 159: Thomson Reuters Corp. - Segment focus
            • 12.15 uTrade
              • Exhibit 160: uTrade - Overview
              • Exhibit 161: uTrade - Product / Service
              • Exhibit 162: uTrade - Key offerings
            • 12.16 VIRTU Financial Inc.
              • Exhibit 163: VIRTU Financial Inc. - Overview
              • Exhibit 164: VIRTU Financial Inc. - Business segments
              • Exhibit 165: VIRTU Financial Inc. - Key offerings
              • Exhibit 166: VIRTU Financial Inc. - Segment focus
            • 12.17 Wyden AG
              • Exhibit 167: Wyden AG - Overview
              • Exhibit 168: Wyden AG - Product / Service
              • Exhibit 169: Wyden AG - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 170: Inclusions checklist
                • Exhibit 171: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 172: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 173: Research methodology
                • Exhibit 174: Validation techniques employed for market sizing
                • Exhibit 175: Information sources
              • 13.5 List of abbreviations
                • Exhibit 176: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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