“Advent of dynamic technologies is one of the drivers for the growth of the risk analytics market”
The risk analytics market size is expected to grow from USD 17.60 billion in 2017 to USD 35.92 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. An increasing need for industry-specific solutions and automation facilitating to make quick actionable decisions is expected to drive the growth of risk analytics software and services. However, high cost of investment acts as a major restraining factor for the growth of the risk analytics market.
“Operational risk type is expected to be the highest growing segment in the risk analytics market”
The operational risk includes human capital risk, communication risk, sustainability risk, regulatory & legal risk, governance risk, financial reporting risk, fraud risk, technology risk, hazard risk. In the recent years, operational risk has developed as a joint category for most of other risk administration strategies Risk analytics empowers an enterprise to manage operational risks associated with internal factors such as errors by employee/human resources, systems failures (hardware, software, networking, and utility outages/disruptions), losses to physical assets, and criminal activities (including fraud and cybercrime).
“Asia Pacific (APAC) is expected to have the highest growth rate in the risk analytics market by region”
APAC is projected to grow at the highest CAGR during the forecast period. The risk analytics market in the APAC region is poised to grow, as major countries, such as India, China, Australia, and New Zealand are aggressively adopting risk analytics solutions to stay ahead in the competition. Technological advancements, uncertain economic conditions, and the presence of a large number of SMEs are the major contributing factors for the growth of the risk analytics market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is as follows:
• By Company: Tier 1 – 28 %, Tier 2 –52%, and Tier 3 –20%
• By Designation: C level – 45%, Director level – 38%, and Others – 17%
• By Region: North America – 34%, Europe – 20%, and APAC – 46%
The risk analytics market comprises the following major vendors:
1. SAP SE (Germany)
2. IBM Corporation (US)
3. Moody's Analytics, Inc. (US)
4. SAS Institute Inc. (US)
5. Oracle Corporation (US)
6. Verisk Analytics, Inc. (US)
7. Risk Edge Solutions (India)
8. Misys (UK)
9. Fidelity National Information Services Inc. (US)
10. AxiomSL (US)
11. Gurucul (US)
12. Provenir (US)
The report segments the risk analytics market on the basis of components (software and services); risk types (strategic risk, operational risk, financial risk, and others); deployment models (on-premises and on-demand); verticals (banking and financial services, insurance, manufacturing, transportation and logistics, retail and consumer goods, information technology (IT) and telecom, government and defense, healthcare and life sciences, energy and utilities, and others); and regions (North America, Europe, Asia Pacific [APAC], Middle East and Africa [MEA], and Latin America).
Reasons to Buy the Report:
• To get a comprehensive overview of the global risk analytics market
• To gain wide-ranging information about the top players in this market, their product portfolios, and key strategies adopted by them
• To gain insights of the major countries/regions, in which the risk analytics market is flourishing in various industry verticals