Risk Analytics Market by Component (Services, Software), Risk Type (Financial Risk, Operational Risk, Strategic Risk), Deployment, Vertical - Global Forecast 2024-2030

Risk Analytics Market by Component (Services, Software), Risk Type (Financial Risk, Operational Risk, Strategic Risk), Deployment, Vertical - Global Forecast 2024-2030

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.

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.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Risk Analytics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing regulatory requirements with a focus on transparency and accountability
Rising instances of cyber threats targeting sensitive organizational data
Rapidly elevating complexities among business processes

Market Restraints

High costs associated with implementing advanced analytical tools & techniques

Market Opportunities

Emerging integration of artificial intelligence and blockchain in risk analytics
Development of cloud-based risk analytics solutions for customer-specific demand

Market Challenges

Concerns associated with data privacy and security coupled with limited availability of skilled workforce

Market Segmentation Analysis

Component: Rapid deployment of risk analytics software across businesses globally
Vertical: Penetration of risk analytics in the BFSI sector
Risk Type: Growing demand for risk analytics to mitigate financial risk
Deployment: Rising adoption of on-premise risk analytics solutions to closely monitor and protect data

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Risk Analytics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Risk Analytics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Everstream Analytics Launches Connect to Risk-Adjust Supply Chains from Raw Material to Store Shelves

Everstream Analytics, a company offering supply chain insights and risk analytics, recently introduced Everstream Connect at the Gartner Supply Chain Symposium 2023. Powered by its comprehensive supply chain risk management platform, Connect offers intelligent mapping and visibility into logistic network flows alongside dynamic risk assessment and analytics. By combining Discover's sub-tier supplier network visualization and risk scores, Connect empowers organizations with complete visibility of their supply chains, enabling data-driven decisions that effectively mitigate risk.

Everstream Analytics and Kearney Expand Strategic Partnership to Build Resilience Across Every Tier of Global Value Chains

Everstream Analytics and Kearney have expanded their partnership to provide a comprehensive solution for proactively managing risks in complex global supply chains. This partnership addresses the urgent need for risk management and regulatory compliance by combining Everstream's advanced AI and graph technology-powered analytics with Kearney's expertise in transformation, operations, and the development of leading supply chain risk frameworks. The partnership aims to enhance visibility across multi-tier supply ecosystems, facilitate compliance, and improve ESG performance.

Apollo Partners with Emerging Risk Analytics Company Praedicat

Apollo, an independent specialist re/insurer, has entered into a three-year agreement with Praedicat, a California-based risk analytics and modeling company. This partnership allows Apollo to leverage Praedicat's advanced technology and vast data resources for underwriting and portfolio management. Apollo gains valuable insights into emerging risks, enhancing their risk management capabilities with the partnership with Praedicat.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Risk Analytics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

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

Please Note: PDF & Excel + Online Access - 1 Year