Risk analytics market worth $70.5 billion by 2027

CHICAGO, July 13, 2022 /PRNewswire/ — According to a new market research report Risk Analytics Market by component (software (ETL tools, risk calculation engines, GRC software) and services), risk type (strategic risk, operational risk, financial risk), mode of deployment, organization size, vertical and region – forecast world until 2027″, Released by MarketsandMarkets™, the Global Risk Analytics market size to grow from $39.3 billion in 2022 at $70.5 billion by 2027, at a compound annual growth rate (CAGR) of 12.4% over the forecast period. Various factors, such as increasing government compliance with stringent industry regulations, increasing incidence of data theft and security breaches, and increasing complexity of business processes, are expected to drive the adoption of IT solutions and services. ‘risk analysis.

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The COVID-19 pandemic has had a negative impact on credit portfolios. There has been an unprecedented rise in unemployment and disruptions to economic activity, putting a strain on the creditworthiness of customers and businesses. Central banks have taken a proactive approach by injecting liquidity into the market through lower interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk in financial markets was difficult enough with ongoing geopolitical tensions, international trade wars, and occasional hurricanes and earthquakes. The current pandemic situation has forced risk managers and their teams to recalibrate old assumptions and models used to manage and monitor risk. The global impact of COVID-19 has shown that interdependence plays an important role in international cooperation. As a result, many governments have started to rush to identify, evaluate, and acquire reliable AI-powered solutions.

Software segment will account for the largest market size during the forecast period

Based on components, the risk analytics market is segmented into software and services. The software segment has been segmented into ETL tools, risk calculation engines, dashboard and visualization tools, dashboard analysis and risk reporting tools, and GRC software, and others (risk management operational risks, human resources risk management and project risk management). The software segment is expected to hold the maximum market share in the global risk analytics market. Of all the software offered in the market, GRC software has been the most adopted worldwide. The services segment has been divided into professional and managed services. The growing adoption of risk analysis software is expected to drive the adoption of professional and managed services.

Strategic risk segment to maintain a higher CAGR during the forecast period

Based on the type of risk, the risk analytics market has been segmented into strategic risk, operational risk, financial risk and others (reputational risk, environmental risk, third party risk and economic risk). Strategic risk segment to maintain a higher CAGR during the forecast period. Strategic risks can have a significant impact on a company’s ability to achieve its business strategies and objectives. The financial risk segment is expected to have the largest market size over the forecast period, owing to the growing need to analyze various growth factors that may affect the growth of organizations.

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The SME segment will hold a higher CAGR during the forecast period

The risk analytics market has been segmented by organization size into large enterprise and SME. The market share of large companies is higher; however, the SME market is expected to register a higher CAGR during the forecast period. To address challenges such as business model sustainability, process efficiency data, reporting and auditing requirements, SMEs are increasingly adopting risk analytics solutions.

Healthcare & Life Sciences segment will maintain a higher CAGR during the forecast period

Based on the risk analytics market vertical, the market has been categorized into different industry verticals, such as banking & financial services, insurance, manufacturing, transportation & logistics, retail, and goods Consumer Computing, IT & Telecom, Government & Defense, Healthcare & Life Sciences, Energy & Utilities, and Other Verticals The healthcare & life sciences vertical is expected to have the highest CAGR during the forecast period as the industry deploys risk analytics solution to streamline six sigma operations, generate quality analysis and effectively manage complex supply chain operations. supply. Risk analysis can help detect early signs of patient deterioration in the ICU and general ward, identify at-risk patients at home to prevent hospital readmissions, and prevent downtime avoidable risks of medical equipment leading to its adoption in the healthcare and life sciences vertical.

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APAC will maintain a higher CAGR during the forecast period

The Risk Analytics Market has been segmented into five major regions: North America, EuropeACPA, Latin Americaand MEA. North America is estimated to represent the highest market share in 2022, Asia Pacific should offer significant growth opportunities over the next five years. The growing demand for a cloud-based and cloud-supported analytics solution has led to an increasing demand for risk analytics solutions in Asia Pacificleading to increased investments and technological advances in all sectors.

Main suppliers in the world Risk Analytics Market include IBM (US), SAP (Germany), SAS (US), Oracle (US), FIS (USA)Moody’s Analytics (US), Verisk Analytics (US), Alteryx (US), AxiomSL (US), Gurucul (US), Provenir (US), BRIDGEi2i (India), Recorded Future (US), AcadiaSoft (US), Qlik (US), DataFactZ (US), CubeLogic Limited (UK), Risk Edge Solutions (India), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India), Amgo Labs (India), Zesty.ai (US), Artivatic (India), Artivatic (USA), RiskVille (Ireland), Quantexa (UK), Spin Analytics (UK), Kyvos Insights (US), Imply (US).

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