Westford, USA, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Global risk analytics market size was valued at USD 27 billion in 2022 and is poised to grow from USD 32.91 billion in 2023 to USD 160.47 billion by 2031, at a CAGR of 21.90% during the forecast period (2024-2031).
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SkyQuest projects that global risk analytics market will attain a value of USD 160.47 Billion by 2031, with a CAGR of 21.90% during the forecast period (2024-2031). Adherence to stringent industry laws is one of the main reasons anticipated to propel the growth of the risk analytics market during the forecast period. Moreover, it is expected that the growing complexity of company processes would further fuel the expansion of the risk analytics industry. Furthermore, it is predicted that the increasing BPA and digitisation will moderate the growth of the risk analytics market. However, it is also anticipated that the complexity of regulatory compliance may hinder the market expansion for risk analytics throughout this time frame.
Browse in-depth TOC on the " Risk Analytics Market "
- Pages - 197
- Tables - 60
- Figures – 77
Risk Analytics Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $32.91 Billion |
| Estimated Value by 2031 | $160.47 Billion |
| Growth Rate | Poised to grow at a CAGR of 21.90% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Deployment Outlook, Enterprise Size and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Transforming risk analytics with secure and collaborative solutions |
| Key Market Opportunities | Adoption of AI and blockchain technology in the market |
| Key Market Drivers | Expanding Complexity of Business Processes demand Risk Analytics |
Operational Risk to Dominate the market Due to Increasing Regulatory Pressures
Due to the increasingly complex nature of corporate operations and greater regulatory requirements placed on firms, operational risk is more important in the global risk analytics market. Organizations that are more vulnerable to operational interruptions use advanced analytics solutions to improve risk identification and mitigation techniques. This improves decision-making and increases resilience in a dynamic risk environment.
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On-Premises Deployment to be the Largest Growing Sub-Segment Due to Enhanced Data Security Requirements
Due to the need for improved data security and regulatory compliance on the part of organisations, on-premises deployment continues to have a dominating position in the global risk analytics market. This approach enhances risk management and boosts trust in managing sensitive data while reducing external threats by enabling firms to retain control over sensitive information and tailor analytics solutions to their unique requirements.
Embracing Cutting-Edge Technology Helped North America to Dominate the Market
It is projected that North America will account for the largest share of the market. The region's supremacy is attributed to the growing industry acceptance of risk-governing technologies. Companies in the region are more inclined to redesign their present risk management strategies to eliminate risks and overlaps.
Risk Analytics Market Insight
Drivers:
- Expanding Complexity of Business Processes Demand Risk Analytics
- Growing Incidences Data Theft and security Breaches
- Adoption of AI and Blockchain Technology in the Market
Restraints:
- Strict Regulations to Hinder Market Growth
- Analytical Disruption to Existing Workflows
- Lacking Data Privacy and Increased Security Concerns
Prominent Players in Risk Analytics Market
The following are the Top Risk Analytics Companies
- IBM (US)
- SAS Institute (US)
- Oracle (US)
- FIS(US)
- Moody’s Analytics (US)
- ProcessUnity(US)
- ServiceNow (US)
- Marsh (US)
- Aon (UK)
- Crisil (India)
Key Questions Answered in Global Risk Analytics Market Report
- By 2031, how much is the global risk analytics market expected to be worth?
- Which of the following factors are anticipated to impede risk analytics' market expansion during the projected period?
- Why does the global risk analytics market still favour on-premises deployment?
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This report provides the following insights:
- Analysis of key drivers (Growth in ransomware attacks & security breaches, implementation of data protection directives, adopting more robust & effective security model and maintaining the information security), restraints (Harder implement new risk management practices, employee apprehension about unfamiliar processes and employees resist adoption due to fear of the unknown or perceived disruption), opportunities (Adding advanced capabilities to risk analytics solutions, addressing key challenges faced by the end-user industry and advanced analytics technologies facilitating faster transactions), and challenges (Increasingly complex & uncertain business landscape and inadequate risk assessment) influencing the growth of risk analytics market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the risk analytics market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the risk analytics market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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