The Risk Analytics market is growing pervasively mainly due to the proliferation of massive amount of data that is being exposed to various hazards such as data theft among others. Risk analytics, by assessing the uncertainties helps in avoiding vulnerabilities of data forging, system failures and anything that could obstruct business operations.
Risk Analytics provides clear visibility towards the challenges and uncertainties associated with a particular process. Risk calculation tools and engines help in predicting risks and avoid future costs of handling the hazards mentioned above which are escalating the market on the global level garnering a tremendous amount of popularity.
Acknowledging the prominence and value this market is garnering currently and the growth prospect the market is demonstrating worldwide, Market Research Future (MRFR) in its recently published study report asserts that the global Risk Analytics market will reach USD 42 Bn. by 2023, registering a CAGR of 14% throughout the review period (2017-2023).
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Major Key Players
- SAP SE (Germany),
- IBM Corporation (U.S.),
- Moody’s Analytics, Inc. (U.S.),
- SAS Institute Inc. (U.S.),
- Oracle Corporation (U.S.),
- Verisk Analytics, Inc. (U.S.),
- Risk Edge Solutions (India),
- Misys (U.K.),
- AxiomSL (U.S.),
- Gurucul (U.S.)
- Provenir, Inc. (U.S.) among others.
According to MRFR, The global Risk Analytics Market is expected to grow at approx. USD 42 Billion by 2023, at 14% of CAGR between 2017 and 2023.
The products that are being focused on to capitalize the vigorous pace of technological discoveries have led to extensive changes. This particular trend has amplified the affinity for diversification in the sector, which has indirectly enabled the players to use the beneficial state of dealings obtainable in this market. The utilization of these opportunities by contenders, who are trying to nurture their industry share by intensive development can inspire the growth of this business sector. The companies are also additionally trying to capture and create economic worth together in a proper manner. This has raised the potential for the approaching growth period considerably. This state has also been known to be productive for companies so they can fix goals that can keep up their enterprise’s liquidity viable enough to take effective choices in terms of strategy designing and implementation.
The regional study of the risk analytics sector includes regions such as North America, Asia Pacific, Europe and Rest of the World. It has been noted that the North American market is expected to be credited for the leading share of the industry, whereas the Asia-Pacific segment is anticipated to develop at a swift rate during in the period up to 2023. The main development of the risk analytics industry in the North American region can be attributed to the technical innovations and rising use of mobiles and tablets in the region.
Risk analytics market can be segmented on the basis of following:
- Extract, Transform and Load Tools
- Dashboard Analytics and Risk Reporting Tools
- Scorecard and Visualization Tools
- Risk Calculation Engines
- GRC Software
- Professional Services
- Managed Services
- IT & Telecommunication
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- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
- Risk engine solution providers
- Government agencies
- Risk assessment service providers
- Venture capitalists
- Value-added resellers
- Small, medium-sized, and large enterprises
- Third-party providers
LIST OF TABLES
TABLE 1 RISK ANALYTICS MARKET, BY COMPONENT
TABLE 2 RISK ANALYTICS MARKET, BY DEPLOYMENT
TABLE 3 RISK ANALYTICS MARKET, BY VERTICAL
TABLE 4 RISK ANALYTICS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA RISK ANALYTICS MARKET, BY COMPONENT
TABLE 6 NORTH AMERICA RISK ANALYTICS MARKET, BY DEPLOYMENT
TABLE 7 NORTH AMERICA RISK ANALYTICS MARKET, BY VERTICAL
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 RISK ANALYTICS MARKET, BY COMPONENT (%)
FIGURE 3 RISK ANALYTICS MARKET, BY DEPLOYMENT (%)
FIGURE 4 RISK ANALYTICS MARKET, BY VERTICAL (%)
FIGURE 5 RISK ANALYTICS MARKET, BY REGIONS (%)