The "Global Risk Analytics Market Size By Risk Type (financial risk, strategic risk, operational risk), By Component (software, dashboard analytics and risk reporting tools, risk calculation engines), By Deployment Mode (on-demand and on-premises), By Vertical (healthcare, government and defense, IT and telecom, banking, financial services), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Risk Analytics Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N.J., May 11, 2023 /PRNewswire/ -- The Global Risk Analytics Market is projected to grow at a CAGR of 7.54% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 35.65 Billion in 2021 and is expected to reach USD 72.98 Billion by the end of the forecast period.
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Browse in-depth TOC on "Risk Analytics Market"
202 - Pages
126 - Tables
37 - Figures
Risk Analytics Software Market Expected to Grow Exponentially, Key Players Include IBM, Oracle, SAP, and Verisk Analytics
The global market for risk analytics software is set to experience substantial growth in the coming years, with increasing complexity of business operations driving demand for data management and risk analysis. According to market drivers, risk analytics solutions provide businesses with an understanding of the possibility of certain events happening, which is extremely useful in highlighting possible issues that may have negative impacts in the future. These solutions help companies understand possible risk factors in time before they could have any negative impact on the business. The demand for such aid has increased due to cutting-edge innovations, lack of information management, stringent regulations, and government oversight. With new digital technologies such as AI, machine learning, the Internet of Things, etc., companies are generating an exceptional amount of data, making it harder for companies to make confident decisions.
Key players in the risk analytics software market include IBM Corporation, Oracle Corporation, SAP, Axiomsl, Inc., Fidelity National Information Services Inc., Verisk Analytics, Inc., Misys, Provenir, Gurukul, Moody's Corporation, SAS Institute Inc., and Risk Edge Solutions. These companies are expected to develop and implement key strategies to maintain their market position, including product benchmarking, market ranking analysis, recent developments, and market share analysis.
According to Verified Market Research experts, the increasing complexity of business operations, coupled with varying regulation across the globe, has made it difficult for companies to comply with regulatory policies that alter with each country. Risk analytics software is therefore expected to help companies lower the cost of regulatory compliance and increase return on investment. This factor has contributed to the increasing acceptance of risk analytics software in recent years.
The global risk analytics software market is projected to grow exponentially during the forecast period, generating higher revenues for key players. As companies increasingly turn to digital technologies to manage and analyze large amounts of data, the demand for risk analytics software is expected to increase further.
Based on the research, Verified Market Research® has segmented the global Risk Analytics Market into Risk Type, Component, Deployment Mode, Vertical, And Geography.
- Risk Analytics Market, by Risk Type
- Financial Risk
- Strategic Risk
- Operational Risk
- Risk Analytics Market, by Component
- Software
- Dashboard Analytics and Risk Reporting Tools
- Risk Calculation Engines
- Extract, Transform and Load Tools
- GRC Software
- Scorecard and Visualization Tools
- Services
- Risk Analytics Market, by Deployment Mode
- On-Demand
- On-Premises
- Risk Analytics Market, by Vertical
- Healthcare
- Government and Defense
- IT and Telecom
- Banking, Financial Services, and Insurance (BFSI)
- Transportation and Logistics
- Retail and Consumer Goods
- Manufacturing
- Energy and Utilities
- Others
- Risk Analytics Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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