According to the latest report by IMARC Group, titled “Risk Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the risk analytics market size reached US$ 30.1 Billion in 2022. Risk analytics relies on advanced techniques and methodologies to assess, quantify, and manage risks within various industries. It relies on comprehensive and accurate data to analyze historical trends, market dynamics, and external factors. It leverages statistical modeling, machine learning algorithms, and data mining to allow organizations to gain valuable insights into potential risks, their probabilities, and potential impacts. It supports risk identification, assessment, mitigation, and monitoring activities, providing a systematic and structured approach to risk management. It finds extensive applications in finance, insurance, healthcare, and supply chain management for navigating uncertainties, identifying opportunities, and establishing robust risk management strategies.
Global Risk Analytics Market Trends:
The expansion of data centers and the increasing complexity and volume of data available to organizations represent one of the key factors driving the market. Furthermore, there is a rise in the awareness about the importance of risk management in enhancing business performance and protecting organizational assets. Businesses are recognizing the need to proactively identify and manage risks to avoid financial losses, reputational damage, and operational disruptions. This awareness is driving the adoption of risk analytics as a strategic tool for informed decision-making and risk mitigation. Moreover, the integration of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and predictive analytics, is offering a favorable market outlook. Additionally, the increasing focus on cybersecurity and data privacy is catalyzing the demand for risk analytics solutions. As organizations face evolving cyber threats and the risk of data breaches, they are using risk analytics to identify vulnerabilities, detect anomalous activities, and strengthen their cyber security. Looking forward, the market value is projected to reach US$ 68.8 Billion by 2028, expanding at a CAGR of 15.2% during 2023-2028.
- Based on the component, solution represents the largest market segment, followed by services.
- On the basis of the deployment mode, on-premises holds the majority of the market share, followed by cloud-based.
- On the basis of the organization size, the market has been bifurcated into large enterprises and small and medium enterprises. Large enterprises currently account for the majority of the total market share.
- Based on the application, the market has been categorized into strategic risks, financial risks, operational risks, and compliance risks. At present, operational risks dominate the market.
- On the basis of the industry vertical, the market has been categorized into BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, government and defense, and others. BFSI represents the biggest market segment.
- Region wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Accenture plc, BRIDGEi2i Analytics, Capgemini SE, FIS, International Business Machines Corporation, Moody's Analytics Inc. (Moody's Corporation), Oracle Corporation, Risk Edge Solutions Private Limited, SAP SE and SAS Institute Inc.
|Base Year of the Analysis
||Component, Deployment Mode, Organization Size, Application, Industry Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Accenture plc, BRIDGEi2i Analytics, Capgemini SE, FIS, International Business Machines Corporation, Moody's Analytics Inc. (Moody's Corporation), Oracle Corporation, Risk Edge Solutions Private Limited, SAP SE and SAS Institute Inc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800