Risk Analytics Market to Reach USD 54.95 Billion by 2027; on Account of Rising Cases of Data Theft in Various Businesses, says Fortune Business Insights™

Pune, June 24, 2020 (GLOBE NEWSWIRE) — The global risk analytics market size is anticipated to witness significant growth on account of the increasing demand for risk mitigation to secure data from malicious attacks. Risk analytics is a part of risk management that helps to examine the investment portfolios, security issues, information technology, and other crucial aspects of a company and scrutinizes the risks associated with taking business-related decisions. A recent report by Fortune Business Insights titled, “Risk Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Services), By Application (Financial Risk, Operational Risk, Compliance Risk, Strategic Risks, and Others), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Healthcare, Retail, and Consumer Goods, Energy and Utilities, Manufacturing, and Others) and Regional Forecast, 2020-2027,” estimated the market to rise from USD 22.18 billion earned in 2019 to rise at a CAGR of 12.2% and reach USD 54.95 billion by the end of 2027.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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What is the future of this market?Will the impact of the COVID-19 pandemic affect the market positively or negatively and how?What are the key drivers, restraints, and challenges of the market?Which are the major industry insights to the market?Drivers & Restraints-Increasing Adoption by Small and Middle Sized Companies to Augment GrowthA rise in the need of an all-in-one software for analyzing and detecting the overall digital performance of the firm or business is propelling the risk analytics market growth. This, coupled with the increasing number of cybercrime cases, malicious frauds, and other forms of data theft are expected to aid in the expansion of the market in the coming years. Additionally, the increasing complexities associated with the business processes across all small, medium, and large industries are likely to bode well for the market in the coming years.On the negative side, the complex nature of unstructured data and mismeasurement of known risks may pose a major threat to the market in the coming years. Nevertheless, the adoption of predictive risk management on a large scale is likely to create lucrative growth opportunities for the market in the coming years, thereby surging the demand for analytics solutions.Segment-Financial Risks Segment to Earn Dominance Accountable to Uncertainties of International Exchange LevelsBased on segmentation by application, the financial risks segment earned the largest risk analytics market share on account of the uncertainty related to the credit quality, stock values, international exchange levels, liquidity, and asset costs. The implementation of advanced analytics solutions will help the financial firms and banks to predict the consumer preferences and behavior for better evaluation.North America Generated Significant Revenue Owing to Increasing Acceptance of Risk Management Technologies by Various IndustriesGeographically, North America earned USD 7.49 billion in 2019 and emerged dominant with the increasing adoption of software and services to protect crucial data. Besides this, the small and large enterprises are also adopting cybersecurity management services for improving the efficiency of their business, thereby aiding in the expansion of the regional market.On the other side, the market in Asia Pacific is likely to gain impetus in the coming years on account of the advent of digital transformation, fewer cybersecurity practices in businesses, high internet access, and the increasing number of data violation cases. The increasing awareness about the importance of data protection is propelling the adoption of risk analytics. Therefore, this region is likely to rise significantly in the forecast period.Competitive Landscape-Moody’s Analytics, Inc. is Holding Largest Share Due to Diverse PortfolioAmongst the list of players operating in the risk analytics market, Moody’s Analytics Inc. emerged dominant on account of its diverse portfolio and wide adoption, especially across the United States. Besides this, Moody’s approach to the development of analytics products and growth strategies is holistic and this may further help the company to continue dominating in the market in the coming years.Key Industry Developments of the Market include:May 2019 – Thomas Reuters and IBM Corporation signed a collaborative agreement for integrating real-time regulatory models and artificial intelligence (AI) for helping banks meet the ever-increasing regulatory demands.
Fortune Business Insights™ lists out the names of Risk Analytics Solution Providers Functioning in the Market. They are as follows:OneSpanFidelity National Information Services, Inc. (FIS)Recorded Future, Inc.Risk Edge SolutionsAxiomSL, Inc.ProvenirVerisk Analytics, Inc.Moody’s Analytics, Inc.IBM CorporationOracle CorporationSAP SEOther playersIntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints, and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsImpact of COVID-19Short-term ImpactLong-term ImpactKey Industry Developments – In Response to the COVID-19 ImpactConsolidated SWOT Analysis of Key PlayersPorter’s Five Force AnalysisGlobal Risk Analytics Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Size Estimates and ForecastsBy Component (Value)SoftwareExtract, Transform & Load (ETL) ToolsGRC (Governance, Risk and Compliance) SoftwareRisk Calculation EngineScorecard and Visualization ToolsRisk Monitoring and Strategic PlanningOthers (Portfolio Management, Operational Risk Management, Human Resource Risk Management)ServicesConsultingSupport and MaintenanceBy By Risk Type Application (Value)Financial RiskOperational RiskCompliance RiskStrategic RisksOthers (Third Party Risk, Social and Economic Risks, Others)By Deployment (Value)CloudOn-PremisesBy Enterprise Size (Value)Small and Medium-sized Enterprises (SMEs)Large EnterprisesBy Industry (Value)Banking, Financial Services and Insurance (BFSI)IT and TelecommunicationsHealthcareRetail and Consumer GoodsEnergy and UtilitiesManufacturingOthers (Media and Entertainment, Construction)By Region (Value)North AmericaEuropeAsia PacificMiddle East and AfricaLatin AmericaTOC Continued..!!!

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