The GMI Research expects the risk analytics market to expand at a significant rate. From a regional perspective, North America is expected to grow at a higher CAGR due to the increasing acceptance of risk governing technologies by industries.
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Risk Analytics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global analytics market is predicted to witness an upsurge in demand during the forecast period due to the growing government regulatory compliances and the increasing data security breaches in companies. Moreover, the rising adoption of risk analytics in financial institutions and the growing IoT landscape are the major factors surging the growth of the risk analytics market size. Furthermore, the rising data and security concerns and growing complexity across industry processes will further boost the market growth. For example, risk analytics aids the Banking sector by analyzing risk, reducing it in order to enhance customer understanding, etc. As per the risk analytics market report, compliance with rigorous industry regulations and policies, including Dadd-frank wall street reform, Basel II/III, consumer protection act, etc., is fuelling the demand for risk analytics among organizations. In addition to this, the increasing digitalization and adoption of new technologies that include IoT, AI, blockchain in risk analytics are some other factors enhancing the demand for risk analytics software. On the other hand, limited awareness related to risk analytics tools and high installation costs are the two major factors hampering the growth of the market in the upcoming years. However, the configuration of the software, increasing cost and complexity in installation, and less security offered by the risk analytics will hinder the growth of the market. Furthermore, the strong demand from emerging countries for the incorporation of artificial intelligence in risk analytics are projected to create various growth opportunities for the market in the upcoming years.
Component Segment Drivers
Based on the component type, the software segment is expected to dominate the market during the forecast period. Risk software, including various technological platforms that can handle numerous complexities and scenarios, is the major factor energizing the market growth. The risk analytics software, such as risk calculation engines, ETL, dashboard analytics & risk reporting tools, scorecard & visualization tools, and GRC software, accelerates the segment growth.
Risk Analytics Market’s leading Manufacturers:
- Microsoft Corporation
- SAP SE
- SAS Institute
- Oracle Corporation
- Moody’s Analytics
- Verisk Analytics
- Fidelity National Information Services, Inc.
- AxicomSL, Inc.
- Gurucul
- Provenir
Risk Analytics Market Segmentation:
Segmentation by Component:
- Software
- Service
Segmentation by Deployment Mode:
- On-Cloud
- On-Premise
Segmentation by Organisation Size:
- Small and Medium Enterprise
- Large Enterprise
Segmentation by Risk Type:
- Strategic Risk
- Operation Risk
- Financial Risk
- Others
Segmentation by Vertical:
- BFSI
- IT and Telecommunication
- Manufacturing
- Transportation and Logistics
- Government and Defense
- Retail
- Healthcare
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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