Risk Analytics

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

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[196 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 Market
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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.

Regional Insights

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.

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.

Risk Type: Growing demand for risk analytics to mitigate financial risk

Financial risk is the likelihood of losing funds on a business or investment decision. Risks associated with finances result in capital losses for individuals and companies. Financial risk analytic solutions to measure and manage counterparty credit risk, market risk, regulatory risk capital, and derivative valuation adjustments. Operational risk is the risk of losses generated by flawed or failed processes, policies, systems, or circumstances that disrupt business operations. Operational risk is any loss due to inadequate or failed internal processes, individuals, procedures, or external events that can disrupt business operations. These operating losses can be directly or indirectly financial. Strategic risk is the risk of probable failures in strategic planning leading to a company not achieving its core objectives. Strategic risk management recognizes risks, determines their causes and effects, and takes suitable actions to mitigate them. Risks arise from inside and outside factors such as manufacturing failures, economic changes, and shifts in consumer tastes.

Deployment: Rising adoption of on-premise risk analytics solutions to closely monitor and protect data

Cloud-based risk analytics solutions provide several features, including a data mining framework, an efficient data storage platform, and risk management tools that help businesses improve their operations. A cloud-based risk analytics system is a new trend for companies upgrading their existing solutions to provide many benefits over on-premises systems, such as better user interface, routine product upgrades, improved monitoring, and analysis. On-premise deployment of risk analytics solutions empowers organizations by giving them ownership of their data, managing risks, business processes, companies' internal policies, and adhering to external compliance requirements.

Market Dynamics

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 Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Risk Analytics Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Risk Analytics Market.

Porter’s Five Forces Analysis

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.

Value Chain & Critical Path Analysis

The value chain of the Risk Analytics Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Risk Analytics Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Risk Analytics Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Risk Analytics Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Risk Analytics Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Risk Analytics Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Risk Analytics Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

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).

Market Share Analysis

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.

Recent Developments
  • 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: 2023-05-08]

  • 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: 2023-04-17]

  • 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: 2023-03-10]

Strategy Analysis & Recommendation

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.

Key Company Profiles

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.

Risk Analytics Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

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

This research report offers invaluable insights into various crucial aspects of the Risk Analytics Market:

  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.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  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?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Risk Analytics Market, by Component
  7. Risk Analytics Market, by Risk Type
  8. Risk Analytics Market, by Deployment
  9. Risk Analytics Market, by Vertical
  10. Americas Risk Analytics Market
  11. Asia-Pacific Risk Analytics Market
  12. Europe, Middle East & Africa Risk Analytics Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 564]
  17. List of Companies Mentioned [Total: 26]
How Risk Analytics is Revolutionizing the Business Industry
December 4, 2023
BLOG
How Risk Analytics is Revolutionizing the Business Industry
The ever-evolving business industry has brought about unprecedented complexities that demand equally advanced solutions. With the increasing sophistication of business processes, risk has become a constant companion and a key driver of business growth. Businesses that don't prioritize risk management run the risk of losing a considerable part of their revenue. This is where risk analytics comes in - a prominent software solution provider that helps businesses stay ahead in the global competition while minimizing risk. This blog post discusses how risk analytics is revolutionizing the business industry.

Understanding the Importance of Risk Analytics for Businesses:

Risk Analytics is a software solution specialized in analyzing, mitigating, and managing risks in businesses. The platform collects data from various sources, including customers, vendors, suppliers, and other stakeholders, and provides real-time analysis based on given parameters. This helps businesses understand the risks involved and develop suitable strategies to minimize those risks. The solution also leverages machine learning and artificial intelligence to offer a more accurate risk analysis, which proves valuable in today's data-driven business landscape.

Specialized Industry Solutions:

Risk Analytics offers specialized solutions for various industries, including manufacturing, healthcare, banking, retail, and more. These unique solutions cater to the particular needs of each industry, providing targeted risk management strategies. For instance, the healthcare industry faces issues such as patient privacy, ethical dilemmas, and compliance regulations. Risk analytics' solution for the healthcare industry identifies potential threats and provides suitable measures to mitigate those risks.

Identifying and Mitigating Risks:

One of the primary advantages of risk analytics is its ability to identify and mitigate risks quickly. The software solution utilizes advanced algorithms that analyze data from various sources and generate risk reports. The reports provide detailed information about potential threats, such as fraud, cyber-attacks, supply chain disruptions, and more. Moreover, the software can predict future risks, enabling businesses to take proactive measures before the problem arises.

Increased Efficiency and Reduced Costs:

Risk Analytics helps businesses improve their efficiency by streamlining risk management processes. The software solution offers automated workflows to guide risk management activities, reducing the time and resources required for manual interventions. As a result, businesses save costs that can be allocated to other areas. Additionally, risk analytics enables businesses to comply with regulatory requirements, lowering the risk of penalties and ensuring business continuity.

Enhanced Decision-making:

Risk analytics provides real-time risk analysis, which improves business decision-making processes. By analyzing data from various sources, the software solution identifies patterns, trends, and potential threats, enabling businesses to make informed decisions. Moreover, businesses get instant alerts in case of a risk event occurrence. This helps them take swift actions and minimize the impact on the business.

Risk Analytics is rapidly revolutionizing the business industry by providing sophisticated risk management software solutions. By leveraging the latest technologies, the solution helps businesses mitigate risk and maximize growth opportunities. The software provides businesses with valuable insights, enabling them to make informed decisions and operate efficiently. With increasing complexities among business processes, risk analytics is indeed the need of the hour for businesses looking to stay ahead in the global competition.

Frequently Asked Questions
  1. How big is the Risk Analytics Market?
    Ans. The Global Risk Analytics Market size was estimated at USD 39.62 billion in 2023 and expected to reach USD 44.55 billion in 2024.
  2. What is the Risk Analytics Market growth?
    Ans. The Global Risk Analytics Market to grow USD 92.18 billion by 2030, at a CAGR of 12.82%
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