Global Risk Analytics Market Size Study, by Risk Type (Strategic Risk, Operational Risk, Financial Risk, Third-Party Risk, Others), by Component (Solutions and Software, Services), by Deployment Mode (Cloud, On-Premises), by Vertical (BFSI, IT and Telecom

Global Risk Analytics Market Size Study, by Risk Type (Strategic Risk, Operational Risk, Financial Risk, Third-Party Risk, Others), by Component (Solutions and Software, Services), by Deployment Mode (Cloud, On-Premises), by Vertical (BFSI, IT and Telecom, Government, Others), and Regional Forecasts 2022-2032

The global Risk Analytics market is valued at approximately USD 47.82 billion in 2023 and is expected to grow at a robust CAGR of 24.8% during the forecast period 2024-2032. Risk analytics equips organizations with the tools to aggregate data into actionable insights, enabling better decision-making, threat reduction, and the identification of opportunities. The increasing complexity of global business environments, coupled with the rise in compliance requirements and sophisticated cyber threats, has spurred demand for advanced risk management solutions.

Organizations are increasingly adopting high-risk analytics tools to address challenges such as data compliance, decision support, and regulatory management. The rising focus on cloud-based risk analytics platforms and advanced AI-powered algorithms for fraud detection and mitigation further augments market growth. Additionally, strict government regulations for data protection, such as the HIPAA Security Rule, present lucrative opportunities for market players to innovate and expand their portfolios.

The COVID-19 pandemic served as a catalyst for the risk analytics market, with organizations needing to adapt their risk management strategies to address unprecedented operational and supply chain disruptions. Risk analytics has become a critical tool for mitigating challenges in such volatile environments, enabling organizations to stay resilient.

The integration of advanced technologies like machine learning, robotic process automation (RPA), and cognitive analysis is driving the adoption of risk analytics across industries. These technologies allow for the automation of repetitive tasks, improved decision-making, and proactive management of business risks. The BFSI sector, in particular, is witnessing significant traction, with increasing demand for solutions that address compliance requirements and prevent fraudulent activities.

Regional Insights

North America is expected to dominate the risk analytics market, owing to its robust adoption of advanced technologies, increasing focus on cybersecurity, and stringent regulatory requirements. The Asia-Pacific region is poised for the fastest growth, driven by rapid digital transformation, high internet penetration, and the increasing prevalence of cyber threats. Europe is also a significant market, benefiting from its established regulatory frameworks and adoption of innovative risk management solutions.

Major Market Players Included in this Report:

1. IBM Corporation

2. Oracle Corporation

3. SAS Institute Inc.

4. SAP SE

5. Moody's Analytics Inc.

6. Accenture plc

7. Capgemini SE

8. Recorded Future, Inc.

9. Provenir, Inc.

10. AxiomSL Ltd.

11. Fidelity National Information Services, Inc.

12. Risk Edge Solutions Private Limited

13. OneSpan Inc.

14. Verisk Analytics

15. BRIDGEi2i Analytics

The detailed segments and sub-segment of the market are explained below:

By Component:
• Solutions and Software
Extract, Transform, and Load (ETL) Tools
Risk Calculation Engines
Scorecard and Visualization Tools
Dashboard Analytics and Risk Reporting Tools
GRC Software
Others
• Services
Professional Services
Managed Services

By Risk Type:
• Strategic Risk
• Operational Risk
• Financial Risk
• Third-Party Risk
• Others

By Deployment Mode:
• Cloud
• On-Premises

By Vertical:
• Banking and Financial Services
• Insurance
• Manufacturing
• Transportation and Logistics
• Retail and Consumer Goods
• IT and Telecom
• Government and Defense
• Healthcare and Life Sciences
• Energy and Utilities
• Others

By Region:

North America: U.S., Canada

Europe: UK, Germany, France, Spain, Italy, Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Australia, Rest of Asia Pacific

Latin America: Brazil, Mexico, Rest of Latin America

Middle East & Africa: Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approaches.
• Analysis of competitive structure of the market.
• Demand-side and supply-side analysis of the market.

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