DUBLIN, Nov. 23, 2022 /PRNewswire/ — The “Risk Analytics Market by Component (Software (ETL Tools, Risk Calculation Engines, GRC Software) and Services), Risk Type (Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global risk analytics market size to grow from USD 39.3 billion in 2022 to USD 70.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period.
The software segment to have the largest market size during the forecast period
The Risk analytics market has been segmented based on components into software and services. The software segment include different softwares such as ETL tools, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools, and GRC software, and other softwares (operational risk management, human resource risk management, and project risk management).
The software segment to have the largest market size during the forecast period. The need to track credit breaches in near real-time and analyze risk limit breaches by trader, profit center, and trading desk level lead to adopting risk analytics solutions.
The cloud segment to have the highest CAGR during the forecast period
The risk analytics market is segmented based on deployment into the cloud and on-premises. The demand for cloud-based risk analytics solutions is expected to grow because of the various benefits. Cloud-based solutions are gaining traction across verticals, and SMEs and organizations are moving toward cloud-based solutions to reduce the maintenance cost associated with traditional risk analytics solutions. SMEs majorly adopt the cloud deployment mode among enterprises due to their budget constraints in deploying on-premises infrastructure.
Large enterprises segment to have the largest market size during the forecast period
Based on organization size risk analytics market has been segmented into large enterprises and SMEs. The market share of large enterprises is higher; however, the market for SMEs is expected to register a higher CAGR during the forecast period. Organizations need to adhere to various regulatory compliances. To deal with challenges, such as business model sustainability, process efficiency data, reporting, and audit requirement, SMEs are increasingly adopting risk analytics solutions.
Among regions, APAC to hold higher CAGR during the forecast period
The risk analytics market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. North America is estimated to account for the maximum market share in the total risk analytics market in 2022 due to various well-established vendors. While APAC is expected to grow at a good pace oqing to the growing digitalization, business complexity, and rising cyberattacks and fraudulent activities in the region.Asia Pacific experiences an extensive inflow of foreign direct investment. Hence, banks need to take a more active approach to manage and mitigate the associated risks of financial crimes. This leads to the growth of the risk analytics market in Asia Pacific. .
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Risk Analytics Market
4.2 Market: Top Three Verticals
4.3 Market, by Region
4.4 North America: Market, by Software and Risk Type
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Incidences of Data Thefts and Security Breaches
5.2.1.2 Rising Government Compliance with Stringent Industry Regulations
5.2.1.3 Increasing Complexities Across Business Processes
5.2.1.4 Rising Digitalization and Business Process Automation
5.2.2 Restraints
5.2.2.1 High Cost and Complexity in Software Installation and Configuration
5.2.2.2 Intricate Nature of Regulatory Compliance
5.2.3 Opportunities
5.2.3.1 Adoption of Ai and Blockchain Technology in Market
5.2.3.2 Rising Innovations in Fintech Industry
5.2.4 Challenges
5.2.4.1 Integration of Data from Data Silos
5.3 Pricing Model Analysis
5.4 Trends and Disruptions Impacting Buyers
5.5 Risk Analytics: Evolution
5.6 Risk Analytics: Ecosystem
5.7 Risk Analytics Market: COVID-19 Impact
5.8 Case Study Analysis
5.8.1 Use Case 1: New Zealand Superannuation Fund (Nzsf) Used Quantifi Solution for Credit and Liquidity Risk Management
5.8.2 Use Case 2: Piraeus Bank Used Quantifi Xva Solution to Address Its Xva Requirements
5.8.3 Use Case 3: Power Mapping Element of Verisk Maplecroft’s Risk Analysis Service Used for Informed Business Decisions
5.8.4 Use Case 4: Regional Bank Deployed Onespan Risk Analytics Solution to Drive Down Fraud
5.8.5 Use Case 5: Emea-Based Financial Institutions Deployed Ifrs 9 Solution of Axiomsl
5.9 Value Chain Analysis
5.10 Ecosystem