Risk Analytics Market Projected To Hit USD 64.25 Billion at a 16.56% CAGR by 2030

Risk Analytics Market Projected To Hit USD 64.25 Billion at a 16.56% CAGR by 2030 – Report by Market Research Future (MRFR)

New York, US, March 09, 2023 (GLOBE NEWSWIRE) —

Market Analysis

According to a comprehensive research report by Market Research Future (MRFR), ”

Risk Analytics Market

By Component, By Deployment, By Verticle – Global Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2020 to 2030 at a healthy CAGR of approximately 16.56% to attain a valuation of around USD 64.25 Billion by the end of 2030.

Risk Analytics Market

Key Players

Eminent industry players profiled in the risk analytics market report include

  • Ibm corporation (u.s.)
  • sap se (Germany)
  • Moody’s Analytics Inc. (U.S.)
  • Oracle Corporation (U.S.)
  • SAS Institute Inc. (U.S.)
  • Verisk Analytics Inc. (U.S.)
  • Misys (U.K.)
  • Risk Edge Solutions (India)
  • Gurucul (U.S.)
  • AxiomSL (U.S.)
  • Provenir Inc. (U.S.)

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Risk Analytics Market Report Scope:

Report Metrics

Risk Analytics Market Size by 2030 USD 64.25 Billion (2030)
Risk Analytics Market CAGR by 2030 16.56%
Base Year 2019
Forecast 2020-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Drivers The major drivers of the risk analytics market growth are changing the regulatory landscape, evolving business models that intensify the demand for risk analytics services.


Increasing Adoption by SMEs to Boost Market Growth

The increasing adoption of risk analytics by SMEs will boost market growth in the forecast period. In the upcoming years, the market is projected to do well due to the rising complexity of business processes across every small, medium, & large enterprise.


Technological Advances to offer Robust Opportunities

A crucial trend that is becoming increasingly popular in risk analytics industry is technological development. Risk analytics employs AI and ML technology to evaluate enormous volumes of data, reduce mistake and bias, and propose areas where risk managers can concentrate more. AI is being utilized by businesses to enhance their understanding of risk portfolios & deliver the best outcomes.

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Risk Analytics Market



Restraints and Challenges

High Cost to act as Market Restraint

The high risk analytics cost and the complex installation process may act as market restraints over the forecast period.

Market Segmentation

The global risk analytics market is bifurcated based on vertical, deployment, and component.

By component, software will lead the market over the forecast period. The significant market share of this sector is primarily explained by the growing demand for business process automation and digitization, the expansion of data silos inside organizations, and the increase in data and security breaches.

By deployment, cloud will dominate the market over the forecast period. Small and medium-sized businesses are increasingly using cloud computing and storage technologies.

By vertical, BFSI will spearhead the market over the forecast period. The drivers propelling the growth of the BFSI market include the increasing demand to gain a unified view of risk across businesses and the growing requirement to reduce the risk related to governance & compliance.

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COVID-19 Analysis

Credit portfolios have been negatively impacted by the COVID-19 outbreak. With economic activity disrupted and unemployment at an all-time high, customers’ & businesses’ solvency is under strain. In order to inject liquidity into the market, central banks have taken a proactive stance by lowering interest rates and establishing asset purchase programs. Authorities are working to implement a number of strategies to assist financial institutions in getting back on track. The final two phases of the margin requirement will be implemented one year later than originally planned, according to an agreement between the BCBS and the IOSCO. Significant trading losses, negative effects on profitability & capital preservation, & restrictions are all results of increased market volatility.

Regional Analysis

North America to Lead Risk Analytics Market

The largest market for risk analytics is located in North America. In order to maintain its dominance in the market throughout the projected period, the industry is expected to be supported by technological advancements and the market proliferation of portable linked devices like mobile phones and tablets. A crucial factor in creating a conducive environment for technological advancements is the presence of the well-established infrastructures and important firms in the area. Because of the government’s initiatives to stimulate the markets for the cloud technologies, it is predicted that the market will see a larger use of Risk Analytics products. The current business environment’s increased risk, regulatory agencies’ increased competition, the most recent technological developments in risk management, and the growing growth & investment opportunities within business organizations are all contributing to the market’s expansion in the North American region. In order to lower risks and redundancies, organizations in the region are more likely to change their current risk management strategies. Modern technology, such as robotic process automation, machine learning, and cognitive analysis, is used by vendors of analytics solutions. With the help of these technology integrations, businesses are concentrating on changing risk assessment frameworks.

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APAC to Have Admirable Growth in Risk Analytics Market

Risk Analytics is expected to see the fastest growth in the Asia Pacific area over the course of the projection period. Growing corporate activity in various nations, including India, China, Japan, and Korea, supports the market expansion and boosts demand for the adoption of the Risk Analytics technologies. The market size is growing concurrently with the enormous need for advanced analytics solutions which can offer complete assistance and immediate data access, making it easier for businesses to understand business scenarios. With a goal of making India a digitally enabled economy, the Indian government in fact is supporting the Digital India Program, positioning the country as a significant market for risk analytics. Businesses doing business in the APAC area will profit from the government’s pliable policies as well as the growing digital market, which will have a big affect on the business world.

Asia Pacific (APAC) is also a haven for hackers due to its higher internet penetration & lack of cybersecurity rules. Information on cybersecurity is transferred between countries, businesses, and law enforcement. Due to the region’s fast growing networking and increasing digital transformation, businesses there have begun employing analytics solutions. Businesses across the country face information risks regardless of their cybersecurity efforts since cyber vulnerability & data protection violation is pervasive in their daily operations. These attacks frequently cause substantial losses, including as losses from unhappy clients, company interruptions, or reputational injury. The Asia Pacific region has a developed and well-established industry following a trend towards technology developments, providing a variety of opportunities for risk management organizations and service providers.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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