Risk Analytics Market Size and Forecast 2024-2033|International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, FIS Inc

Overview and Scope

Risk analytics refers to a collection of methods that accurately assess, quantify, and anticipate risk to manage risk-related issues by using a variety of methodologies and technology to extract insights, compute likely scenarios, and anticipate future events, taking the guesswork out of risk management by consolidating risk scenarios onto a single platform and providing executives with the clarity needed to identify, assess, comprehend, and manage risks.

Sizing and Forecast

The risk analytics market size has grown rapidly in recent years. It will grow from $33.44 billion in 2023 to $37.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to business continuity planning, operational efficiency and cost reduction, supply chain risks, financial market volatility, operational risk management.

The risk analytics market size is expected to see rapid growth in the next few years. It will grow to $63.04 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing demand for real-time analytics, integration with business intelligence, industry-specific risk management needs, focus on operational resilience, cybersecurity concerns.. Major trends in the forecast period include integration of advanced technologies, increased focus on cybersecurity analytics, predictive analytics for risk prevention, focus on cloud-based solutions, supply chain risk management.

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Segmentation & Regional Insights

The risk analytics market covered in this report is segmented –

1) By Risk Type Application: Financial Risks, Operational Risks, Compliance Risks, Strategic Risks, Other Risk Type Applications

2) By Component: Solution, Services

3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMES)

4) By Deployment Mode: On-Premises, Cloud

5) By Vertical: BFSI, Manufacturing, Transportation, Retail, IT & Telecommunication, Healthcare, Government

North America was the largest region in the risk analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the risk analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing use of large amounts of structured and unstructured data will propel the growth of the risk analytics market. Structured data refers to information that is usually stored in a relational database and can be easily mapped into designated fields. Unstructured data is information that is not organized according to a pre-determined data model or schema and hence cannot be kept in a standard relational database. Unstructured data accounts for 80 to 90% of data generated and gathered by businesses, and its volume is continuously increasing faster than that of structured databases. Businesses are increasingly using these large amounts of structured and unstructured data for predictive analysis, risk analysis, forecasting, and others. This increasing usage will create demand for risk analytics as well as risk analytics uses large amounts of structured/unstructured data to predict the risk with a large degree of accuracy. For instance, according to a report by an American data storage company Seagate Technology PLC, the global data will increase by 61% to 175 zettabytes (ZB) by 2025 from 33 ZB in 2018. 90 ZB of data will be created on IoT devices by 2025. Close to 30% of the data created will be consumed in real-time by 2025. It indicates that there is a huge amount of data that needs to be stored, handled, and used/analyzed. Therefore, the rising usage of a large amount of structured and unstructured data will drive the risk analytics market growth.

Key Industry Players

Major companies operating in the risk analytics market report are International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, FIS Inc., Accenture PLC., ACI Worldwide Inc., Adyen N. V., Aon plc, Authorize. Net, AxiomSL Ltd., BlueSnap, Braintree, Capgemini SE, Eastnets, Experian Health, First Data Corporation, Fiserv Inc., Ingenico Group, Interkassa, Marsh & McLennan Companies Inc., Moody’s Analytics Inc., OneSpan Inc., PayPal Holdings Inc., RSA Security LLC, Square Inc., Stripe Inc., VeriFone Inc., Verisk Analytics Inc., Worldpay Inc.

The risk analytics market report table of contents includes:

1. Executive Summary

2. Risk Analytics Market Characteristics

3. Risk Analytics Market Trends And Strategies

4. Risk Analytics Market – Macro Economic Scenario

5. Global Risk Analytics Market Size and Growth

26. South America Risk Analytics Market

27. Brazil Risk Analytics Market

28. Middle East Risk Analytics Market

29. Africa Risk Analytics Market

30. Risk Analytics Market Competitive Landscape And Company Profiles

Top Major Players: