CHICAGO, Aug. 2, 2019 /PRNewswire/ -- According to a new market research report "Risk Analytics Market by Software Type (ETL, Risk Calculation Engines, Scorecard and Visualization), Service, Risk Type (Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, the Risk Analytics Market is expected to grow from USD 23.0 billion in 2019 to USD 45.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. The major factors driving the growth of Risk Analytics Market include increasing complexities across business processes, and rising digitalization & business process automation.
Browse in-depth TOC on "Risk Analytics Market"
70 - Tables
62 - Figures
161 - Pages
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210662258
The services segment is expected to grow at the highest CAGR in the global Risk Analytics Market during the forecast period
The Risk Analytics Market has been segmented based on components into two categories: software and services. The software segment is estimated to hold the largest market size, driven by the increasing adoption of various risk analytics software to identify new risk factors and risk mitigation measures. The growing data silos and need of data integration across organization, and rising need of building sophisticated risk strategies are some of the major factors contributing to the adoption of risk analytics software. The growth of the services segment can be attributed to the increasing deployment of risk analytics software, tools and solutions, which is leading to increased demand for pre- and post-deployment services.
Manufacturing vertical to grow at the highest CAGR during the forecast period
The adoption of risk analytics is rapidly growing in the manufacturing vertical owing to the need to analyze large volumes of data generated from various operations, and thereby driving the need to understand the different types of internal and external risks. Moreover, the complexity associated with supply chain has resulted in manufacturing companies focusing on adopting various analytical tools and techniques to manage different types of risks in a better manner.
Of the various verticals, banking & financial services are expected to hold the largest market size during the forecast period. Banking & financial services are adopting analytics solutions to meet compliance-related requirements. The rapid rate of automation in banks is expected to play a vital role in adopting risk analytics solutions during the forecast period.
North America to hold the largest market size during the forecast period
North America is the major revenue-generating region for the Risk Analytics Market. North America, one of the most developed regions, is at the forefront of adoption of advanced technologies. The rise in the volume of data has resulted in the demand for risk analytic solutions across the region. With the increasing business complexity, organizations are focusing on deploying risk analytics solutions that can help them analyze different types of risks that emerge from dynamic political, economical, and technological factors. The extensive presence of key industry players who are continuously engaged in delivering innovative solutions to help organizations streamline the various business processes will also contribute to the growth of the market.
Speak to Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=210662258
The major Risk Analytics Market vendors include IBM (US), Oracle (US), SAP (Germany), SAS Institute (US), FIS (US), Moody's Corporation (US), Verisk Analytics, Inc. (US), AxiomSL, Inc. (US), Gurucul (US), Provenir (US), Risk Edge Solutions (India), BRIDGEi2i Analytics Solutions (India), Recorded Future, Inc. (US), DataFactZ (US), and Digital Fineprint (England).
Browse Adjacent Markets: Analytics Market Research Reports & Consulting
Browse Related Report:
eGRC Market by Component (Software and Services), Software (Usage and Type), Type (Policy Management, Compliance Management, Audit Management, Incident Management, and Risk Management), Business Function, Vertical, and Region - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/enterprise-governance-risk-compliance-market-1310.html
Analytics as a Service Market by Solution (Financial Analytics, Risk Analytics, Customer Analytics), Services, Analytics Type (Prescriptive, Predictive), Deployment Model, Organization Size, Verticals, and Regions - Global Forecast to 2021
https://www.marketsandmarkets.com/Market-Reports/analytics-as-a-service-market-159638048.html
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/risk-analytics-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/risk-analytics.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
