Global Risk Analytics Market
The Global Risk Analytics Market was valued at USD 15.43 billion in 2016 and is projected to reach USD 57.10 billion by 2025, growing at a CAGR of 15.65% from 2017 to 2025.
Risk analytics system helps to review the risks associated with a particular event or action. It is applied to projects, information technology, security issues and any action where risks may be analyzed on a quantitative and qualitative basis. Benefits of risk analytics system include - risk identification, risk integration and assessment, preparation for unusual risk, fraud detection and prevention, credit risk analysis, benchmarking risk management, and real-time situational awareness.
1. Market Drivers
1.1 Rising demand for enterprises to sustain in the competitive environment
1.2 Increasing need for cloud-based risk analytics solutions
1.3 Adoption of new technologies for smoother operations
1.4 Growing need for risk management across industries
1.5 Rising demand for automation for quicker and actionable decision making
2. Market Restraints
2.1 Lack of technical expertise
2.2 Increasing hierarchical conflicts
2.3 High investment cost
The Global Risk Analytics Market is segmented on the risk type, component, deployment model, vertical, and region.
1. Risk Type:
1.1 Financial Risk
1.2 Strategic Risk
1.3 Operational Risk
2. By Component:
2.1.1 Dashboard Analytics and Risk Reporting Tools
2.1.2 Risk Calculation Engines
2.1.3 Extract, Transform and Load Tools
2.1.4 GRC Software
2.1.5 Scorecard and Visualization Tools
3. By Deployment Mode:
4. By Vertical:
4.2 Government and Defense
4.3 IT and Telecom
4.4 Banking, Financial Services, and Insurance (BFSI)
4.5 Transportation and Logistics
4.6 Retail and Consumer Goods
4.8 Energy and Utilities
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
3. Oracle Corporation
4. Fidelity National Information Services Inc.
5. Axiomsl, Inc.
7. Verisk Analytics, Inc.
9. Moody's Corporation
11. Risk Edge Solutions
12. SAS Institute Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Risk Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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