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

[198 Pages Report] 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.

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.

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

• Component: Rapid deployment of risk analytics software across businesses globally

  Risk analytics services include consultation, implementation, training, and support provided by experienced professionals. Risk analytics services may be offered by specialized risk analytics consulting firms or by professional services organizations. Risk analytics software comprises platforms and tools designed to analyze, quantify, and visualize risk data. These software solutions enable organizations to automate risk assessment processes, implement predictive analytics, and generate insightful reports for decision-making. The need-based preference for risk analytics software depends on the organization's objectives, budget constraints, integration requirements with existing systems, ease of use, scalability, and the desired degree of customization.

• Vertical: Penetration of risk analytics in the BFSI sector

  In the banking & financial services sector, risk analytics plays a vital role in assessing credit, market, and operational risks. The energy & utilities sector requires risk analytics to manage uncertainties related to natural disasters and fluctuating energy prices. Risk analytics in government & defense is crucial for national security and emergency response management. In the healthcare & life sciences sector, risk analytics aids in patient safety monitoring, personalized medicine development, and healthcare fraud detection. Risk analytics in the insurance sector helps insurers assess policyholder risk profiles, optimize pricing strategies, and mitigate potential losses. The IT & telecom sector uses risk analytics for cybersecurity, network performance optimization, and regulatory compliance management. Risk analytics enables organizations to detect supply chain disruptions, optimize production schedules, and maintain equipment health in the manufacturing sector. Retail & consumer goods rely on risk analytics for demand planning, inventory management optimization, and price-setting strategies. In the transportation & logistics sector, risk analytics is essential for route optimization planning, fleet monitoring systems improvement, and cargo theft prevention measures implementation.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Risk Analytics Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

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.

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).

• 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. [Published On: May 08, 2023]

• 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. [Published On: April 17, 2023]

• 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. [Published On: March 10, 2023]

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.

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.

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

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?