Risk Analytics Market Overview

The analysis predicts that the risk analytics industry would develop significantly, reaching a value of over USD 42 billion by 2030. In 2021 and 2030, the risk analytics market share cagr values will also rise by up to 14%.

Thegrowing complexities across the processes of businesses are boosting up the global Risk Analytics Market growth in the forecast period. Moreover, the evolving business models and the changing regulatory landscape are enhancing the risk analytics services demand across the world. In addition, the increasing innovations in the FinTech industry are bringing lucrative opportunities for the market players and vendors.

However, the intricate nature of regulatory compliance might hinder the growth of the Risk Analytics Market during the assessment timeframe. Additionally, the integration of data from data silosand the Covid-19 pandemic can bring major challenges to the worldwide market.

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Market Segmentation

The Risk Analytics Market has been segmented into different factors such as vertical, deployment, and component.

Depending on the vertical segment, the risk analytics industry has been classified into IT & telecommunication, BFSI, transportation, manufacturing, retail, government, healthcare, and others. Of these, the BFSI segment is projected to grow immensely during the forecast timeframe. Accordingly, the BFSI segment is also predicted to hold the second-largest market share as it is helpful to identify fraudulent activities within the given period.

Based on the component segment, the risk analytics industry has been categorized into services and software. Further, the service segment has been sub-categorized into managed services and professional services. Alternatively, the service segment has been sub-categorized intorisk calculation engines,scorecard and visualization tools, grc software, dashboard analytics, risk reporting tools,transform and load tools, and others. On the basis of deployment segment, the global market has been segregated into two, such as on-premise and on-demand.

Regional Analysis

There are multiple regions such as Asia Pacific, Europe, North America, Latin America, and the rest of the world that have been covered by the Risk Analytics Market.

Out of all, the North American region is accounted to register the largest market share during the analysis period. This region is fueled because of the growing use of tablets and mobiles in the region. Moreover, the early technological adoption, presence of large enterprises, and low cost of operation are some of the important growth driving factors in the North American region.

Furthermore, the Asia Pacific market is anticipated to expand the market growth at the fastest rate for the research period. In this region, the countries like Japan and India are trying to show significant growth in the industry of risk analytics.

Industry News

In February 2020, the US-based market leader Oracle Corporation introduced new updates in the Financial Crime and Compliance Management (FCCM) suite of products, which includes embedded graph analytics visualizations, 300-plus customer risk indicators, and integrated analytics workbench. This can help to achieve compliance and fight money laundering for financial institutions.

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Key Players:

Some of the eminent players leading the market include IBM Corporation (US), SAP SE (Germany), Moody's Analytics, Inc. (US), Oracle Corporation (US), SAS Institute Inc. (US), Verisk Analytics, Inc. (US), Misys (UK), Risk Edge Solutions (India), Provenir, Inc. (US), AxiomSL (US), and Gurucul (US)

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