Risk Analytics Market by Component, Risk Type, Deployment, Vertical

List of Tables

[192 Pages Report] The Risk Analytics Market size was estimated at USD 39.62 billion in 2023 and expected to reach USD 44.55 billion in 2024, at a CAGR 12.82% to reach USD 92.18 billion by 2030.

Risk analytics focuses on applying advanced analytics tools and techniques to predict, assess, manage, and mitigate risks in business operations. Increasing regulatory requirements in the global economy have made several business organizations adopt comprehensive risk management strategies to provide compliance with national and international regulations. The increasing use of big data analytics and cloud computing across various businesses has enabled organizations to process large volumes of data faster while leveraging predictive algorithms for better decision-making. However, data privacy and security concerns and a shortage of skilled professionals may impact the use of risk analytics solutions by end-users worldwide. The ongoing development of AI-driven predictive risk models capable of understanding complex patterns within large datasets can enhance the ability of risk analytics solutions to identify emerging risks, provide early warning signals, and accelerate their deployment across various business organizations across the globe.

KEY MARKET STATISTICS
Base Year [2023]	USD 39.62 billion
Estimated Year [2024]	USD 44.55 billion
Forecast Year [2030]	USD 92.18 billion
CAGR (%)	12.82%

Component: Rapid deployment of risk analytics software across businesses globally

Risk analytics services include consultation, implementation, training, and support provided by experienced professionals. Risk analytics services may be offered by specialized risk analytics consulting firms or by professional services organizations. Risk analytics software comprises platforms and tools designed to analyze, quantify, and visualize risk data. These software solutions enable organizations to automate risk assessment processes, implement predictive analytics, and generate insightful reports for decision-making. The need-based preference for risk analytics software depends on the organization's objectives, budget constraints, integration requirements with existing systems, ease of use, scalability, and the desired degree of customization.

Vertical: Penetration of risk analytics in the BFSI sector

In the banking & financial services sector, risk analytics plays a vital role in assessing credit, market, and operational risks. The energy & utilities sector requires risk analytics to manage uncertainties related to natural disasters and fluctuating energy prices. Risk analytics in government & defense is crucial for national security and emergency response management. In the healthcare & life sciences sector, risk analytics aids in patient safety monitoring, personalized medicine development, and healthcare fraud detection. Risk analytics in the insurance sector helps insurers assess policyholder risk profiles, optimize pricing strategies, and mitigate potential losses. The IT & telecom sector uses risk analytics for cybersecurity, network performance optimization, and regulatory compliance management. Risk analytics enables organizations to detect supply chain disruptions, optimize production schedules, and maintain equipment health in the manufacturing sector. Retail & consumer goods rely on risk analytics for demand planning, inventory management optimization, and price-setting strategies. In the transportation & logistics sector, risk analytics is essential for route optimization planning, fleet monitoring systems improvement, and cargo theft prevention measures implementation.

Risk Type: Growing demand for risk analytics to mitigate financial risk

Financial risk is the likelihood of losing funds on a business or investment decision. Risks associated with finances result in capital losses for individuals and companies. Financial risk analytic solutions to measure and manage counterparty credit risk, market risk, regulatory risk capital, and derivative valuation adjustments. Operational risk is the risk of losses generated by flawed or failed processes, policies, systems, or circumstances that disrupt business operations. Operational risk is any loss due to inadequate or failed internal processes, individuals, procedures, or external events that can disrupt business operations. These operating losses can be directly or indirectly financial. Strategic risk is the risk of probable failures in strategic planning leading to a company not achieving its core objectives. Strategic risk management recognizes risks, determines their causes and effects, and takes suitable actions to mitigate them. Risks arise from inside and outside factors such as manufacturing failures, economic changes, and shifts in consumer tastes.

Deployment: Rising adoption of on-premise risk analytics solutions to closely monitor and protect data

Cloud-based risk analytics solutions provide several features, including a data mining framework, an efficient data storage platform, and risk management tools that help businesses improve their operations. A cloud-based risk analytics system is a new trend for companies upgrading their existing solutions to provide many benefits over on-premises systems, such as better user interface, routine product upgrades, improved monitoring, and analysis. On-premise deployment of risk analytics solutions empowers organizations by giving them ownership of their data, managing risks, business processes, companies' internal policies, and adhering to external compliance requirements.

Regional Insights

The risk analytics market is evolving in the Americas owing to the well-established economies and multinational corporations requiring advanced risk management systems. Moreover, stringent regulations and compliance requirements compel businesses in the Americas to adopt comprehensive risk assessment tools to mitigate potential financial losses. The growing need to tackle increasing cybersecurity threats has created substantial demand for cyber-risk analytics tools in the APAC region. Significant development of banking and finance services industry (BFSI), healthcare, retail, and eCommerce sectors, necessitates effective risk management practices in the APAC region. The EMEA region represents a diverse demand for risk analytics solutions due to emphasis of businesses on high data protection and privacy standards. Moreover, technological advancements in risk analytics solutions to improve the efficiency of risk analysis and mitigation are anticipated to propel the adoption of risk analytics solutions by the end-use sectors across the globe.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Risk Analytics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Risk Analytics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Risk Analytics Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, BRIDGEi2i Analytics Solutions by Analytics Insight, Capgemini SE, Cloud Software Group, Inc., Fidelity National Information Services, Inc., Finastra by Turaz Global S.A.R.L., Genpact LLC, GURUCUL, International Business Machines Corporation, LexisNexis Risk Solutions, Marsh LLC, Moody's Analytics, Inc., OneSpan Inc., Oracle Corporation, Provenir Group, Recorded Future, Inc., Risk Edge Solutions, Riskonnect, Inc., RSM UK Group LLP, SAP SE, SAS Institute, Inc., Sphera Solutions, Inc., TATA Consultancy Services Limited, TIBCO by Cloud Software Group, Inc., Verisk Analytics, Inc., and VK Company Limited.

Market Segmentation & Coverage

This research report categorizes the Risk Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Services
  - Managed Services
  - Professional Services

Software
- Dashboard Analytics & Risk Reporting Tools
- ETL Tools
- GRC Software
- Scorecard & Visualization Tools

Risk Type
- Financial Risk
- Operational Risk
- Strategic Risk

Deployment
- On-Cloud
- On-Premises

Vertical
- Banking & Financial Services
- Energy & Utilities
- Government & Defense
- Healthcare & Life Sciences
- Insurance
- IT & Telecom
- Manufacturing
- Retail & Consumer Goods
- Transportation & Logistics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Risk Analytics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Risk Analytics Market?

3. What are the technology trends and regulatory frameworks in the Risk Analytics Market?

4. What is the market share of the leading vendors in the Risk Analytics Market?

5. Which modes and strategic moves are suitable for entering the Risk Analytics Market?

Product Code: MRR-4316E4E8900D

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing regulatory requirements with a focus on transparency and accountability
  - 5.1.1.2. Rising instances of cyber threats targeting sensitive organizational data
  - 5.1.1.3. Rapidly elevating complexities among business processes
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with implementing advanced analytical tools & techniques
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging integration of artificial intelligence and blockchain in risk analytics
  - 5.1.3.2. Development of cloud-based risk analytics solutions for customer-specific demand
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with data privacy and security coupled with limited availability of skilled workforce
5.2. Market Segmentation Analysis
- 5.2.1. Component: Rapid deployment of risk analytics software across businesses globally
- 5.2.2. Vertical: Penetration of risk analytics in the BFSI sector
- 5.2.3. Risk Type: Growing demand for risk analytics to mitigate financial risk
- 5.2.4. Deployment: Rising adoption of on-premise risk analytics solutions to closely monitor and protect data
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Risk Analytics Market, by Component

6.1. Introduction
6.2. Services
6.3. Software

7. Risk Analytics Market, by Risk Type

7.1. Introduction
7.2. Financial Risk
7.3. Operational Risk
7.4. Strategic Risk

8. Risk Analytics Market, by Deployment

8.1. Introduction
8.2. On-Cloud
8.3. On-Premises

9. Risk Analytics Market, by Vertical

9.1. Introduction
9.2. Banking & Financial Services
9.3. Energy & Utilities
9.4. Government & Defense
9.5. Healthcare & Life Sciences
9.6. Insurance
9.7. IT & Telecom
9.8. Manufacturing
9.9. Retail & Consumer Goods
9.10. Transportation & Logistics

10. Americas Risk Analytics Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Risk Analytics Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Risk Analytics Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Everstream Analytics Launches Connect to Risk-Adjust Supply Chains from Raw Material to Store Shelves
- 13.3.2. Everstream Analytics and Kearney Expand Strategic Partnership to Build Resilience Across Every Tier of Global Value Chains
- 13.3.3. Apollo Partners with Emerging Risk Analytics Company Praedicat
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio