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

List of Tables

The Risk Analytics Market was valued at USD 39.62 billion in 2023, expected to reach USD 44.55 billion in 2024, and is projected to grow at a CAGR of 12.82%, to USD 92.18 billion by 2030.

Risk analytics involves using statistical models to predict potential risks and analyze their effect on a business's financial and operational strategies. This field is essential for businesses navigating uncertain environments, enabling them to mitigate potential losses and make informed decisions. The necessity of risk analytics is underscored by the increasing complexity of financial markets, volatile global economic conditions, and regulatory demands, which require robust tools to assess and manage risks efficiently. Its application spans various sectors including banking, insurance, healthcare, energy, and IT, where it helps optimize risk management processes, enhance financial performance, and ensure compliance. End-users primarily include financial institutions, corporations with significant exposure to market dynamics, and entities subjected to stringent regulatory environments.

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%

Market growth is driven by the proliferation of big data, advancements in predictive analytics technologies, and integration of artificial intelligence, which provide enhanced analytic capabilities. The growing importance of cybersecurity in risk management also boosts market potential as businesses seek to protect themselves from digital threats. An emerging opportunity lies in utilizing blockchain for risk analytics to improve data security and transparency. Businesses should focus on developing user-friendly platforms that provide real-time analytics to capitalize on this expanding market.

However, challenges arise from the high cost of implementing sophisticated analytics systems and a scarcity of skilled professionals needed to interpret complex data models. Additionally, data privacy concerns and regulatory hurdles can impede market expansion. Innovations should target automating risk analytics processes and enhancing algorithmic models for greater accuracy and efficiency. Collaborations with tech firms can drive breakthroughs in machine learning applications tailored for risk identification and mitigation.

The risk analytics market is inherently dynamic, evolving in response to technological advancements and shifting regulatory landscapes. Companies aiming for competitive advantage should invest in research areas focusing on cloud-based analytics solutions and leveraging natural language processing for predictive insights, aiding decision-makers in proactively managing risks. By navigating these complexities and seizing innovation opportunities, businesses can achieve sustainable growth and resilience.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Risk Analytics Market

The Risk Analytics Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

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

Porter's Five Forces: A Strategic Tool for Navigating the Risk Analytics Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Risk Analytics Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Risk Analytics Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Risk Analytics Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Risk Analytics Market

A detailed market share analysis in the Risk Analytics Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Risk Analytics Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Risk Analytics Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Risk Analytics Market

A strategic analysis of the Risk Analytics Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

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:

Based on Component, market is studied across Services and Software. The Services is further studied across Managed Services and Professional Services. The Software is further studied across Dashboard Analytics & Risk Reporting Tools, ETL Tools, GRC Software, and Scorecard & Visualization Tools.
Based on Risk Type, market is studied across Financial Risk, Operational Risk, and Strategic Risk.
Based on Deployment, market is studied across On-Cloud and On-Premises.
Based on Vertical, market is studied across Banking & Financial Services, Energy & Utilities, Government & Defense, Healthcare & Life Sciences, Insurance, IT & Telecom, Manufacturing, Retail & Consumer Goods, and Transportation & Logistics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

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. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Risk Analytics Market, by Component

6.1. Introduction
6.2. Services
- 6.2.1. Managed Services
- 6.2.2. Professional Services
6.3. Software
- 6.3.1. Dashboard Analytics & Risk Reporting Tools
- 6.3.2. ETL Tools
- 6.3.3. GRC Software
- 6.3.4. Scorecard & Visualization Tools

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

Companies Mentioned

1. Accenture PLC
2. BRIDGEi2i Analytics Solutions by Analytics Insight
3. Capgemini SE
4. Cloud Software Group, Inc.
5. Fidelity National Information Services, Inc.
6. Finastra by Turaz Global S.A.R.L.
7. Genpact LLC
8. GURUCUL
9. International Business Machines Corporation
10. LexisNexis Risk Solutions
11. Marsh LLC
12. Moody's Analytics, Inc.
13. OneSpan Inc.
14. Oracle Corporation
15. Provenir Group
16. Recorded Future, Inc.
17. Risk Edge Solutions
18. Riskonnect, Inc.
19. RSM UK Group LLP
20. SAP SE
21. SAS Institute, Inc.
22. Sphera Solutions, Inc.
23. TATA Consultancy Services Limited
24. TIBCO by Cloud Software Group, Inc.
25. Verisk Analytics, Inc.
26. VK Company Limited