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Global Risk Analytics Market to Reach US$ 59.7 Billion by 2027, Impelled by Rising Incidences of Data Thefts and Security Breaches

Published on Sep 19, 2022

According to the latest report by IMARC Group, titled “Risk Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global risk analytics market reached a value of US$ 26.2 Billion in 2021. Risk analytics is an integral part of risk management that helps to examine the investment portfolios, security issues, information technology, and other crucial aspects of a company. It scrutinizes the risks associated with making business-related decisions. It is extensively utilized by organizations to effectively and efficiently manage various types of risks. The software is recognized for its multiple capabilities, including operating, identifying different kinds of risks, and taking measures to prevent potential crises. Risk analytics is widely deployed to help identify and analyze critical issues that could negatively impact key business projects or initiatives.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Risk Analytics Market Trends:

The global market is majorly driven by the increasing incidences of cyber-attacks, fraudulent assaults, and data theft across various businesses. In line with this, the rising usage of large amounts of structured and unstructured data in multiple end-user industries is positively influencing the demand for risk analytics. Furthermore, advanced risk analytics is widely used in financial institutions, such as banks, insurance companies, and investment funds, which is catalyzing the market growth. Apart from this, the growing government compliance with stringent industry regulations is creating a positive outlook for the market. Moreover, ongoing digitalization trends and the emergence of various technologies, such as machine learning, the internet of things, and big data, are propelling the market. Besides this, risk analytics providers are actively providing customer-focused solutions with the help of Augmented Reality (AR) and Virtual Reality (VR) technologies, thereby strengthening the growth of the market. Additionally, the widespread adoption of artificial intelligence and blockchain technology is projected to add advanced capabilities to risk analytics solutions and offer numerous growth opportunities in the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 59.7 Billion by 2027, exhibiting a CAGR of 15.41% during 2022-2027. 

Market Summary:

  • On the basis of the component, the market has been segmented into solution and services.
  • Based on the deployment mode, the market has been classified into on-premises and cloud-based.
  • On the basis of the organization size, the market has been bifurcated into large enterprises, and small and medium enterprises.
  • On the basis of the application, the market has been categorized into strategic risks, financial risks, operational risks, and compliance risks.
  • On the basis of the industry vertical, the market has been distributed into BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, government and defense, and others.
  • On the basis of the region, 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.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.
     

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