Risk Analytics Market is expected to grow at a CAGR of 11.87% through 2029.
Global Risk Analytics Market is expected to grow owing to escalating frequency and sophistication of cyber threats throughout the forecast period.
According
to TechSci Research report, “Risk
Analytics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast 2019-2029F”, the Global Risk Analytics Market is
expected to register robust growth during the forecast period. In today's global business landscape, organizations are grappling with an increasingly intricate array of challenges, spanning cybersecurity vulnerabilities, geopolitical instabilities, supply chain disruptions, and fluctuations in financial markets. This heightened complexity underscores the necessity for advanced risk analytics solutions. Businesses are actively seeking tools capable of providing real-time insights, predictive analytics, and scenario modeling to effectively identify, evaluate, and mitigate risks. The integration of artificial intelligence (AI) and machine learning (ML) into risk analytics presents a significant opportunity. AI and ML algorithms possess the capability to analyze vast datasets, recognize patterns, and forecast emerging risks with a precision and efficiency surpassing traditional methods. By leveraging these technologies, organizations can enhance the accuracy of risk assessments, automate decision-making processes, and proactively manage risks.
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Risk Analytics Market"
Based on end-user, The BFSI segment is projected to experience rapid growth during the forecast period. The BFSI sector operates in a highly regulated environment with stringent compliance requirements. Regulatory bodies such as the Basel Committee, the Financial Stability Board, and various national regulatory authorities impose standards and guidelines to ensure financial stability and consumer protection. Risk analytics solutions within the BFSI segment focus on addressing these compliance challenges. They provide tools for monitoring and reporting on risk exposures, capital adequacy, and adherence to regulatory frameworks. The integration of risk analytics helps financial institutions navigate the complexities of compliance, avoid penalties, and enhance transparency in reporting. Credit risk is a central concern for the BFSI sector, where lending and credit activities are core components of business operations. Risk analytics in the BFSI segment is dedicated to assessing and managing credit risk effectively. This includes evaluating the creditworthiness of borrowers, monitoring loan portfolios, and predicting default probabilities. Advanced credit risk models powered by machine learning algorithms enable financial institutions to make more accurate credit decisions, optimize loan pricing, and proactively manage potential defaults. As the lending landscape evolves, risk analytics plays a pivotal role in maintaining a healthy balance between risk and reward in credit portfolios.
The BFSI sector is a prime target for fraudsters and cybercriminals due to the vast amounts of sensitive financial data at stake. Risk analytics solutions in this segment focus on fraud detection and cybersecurity. These services leverage advanced analytics, anomaly detection, and machine learning algorithms to identify unusual patterns of transactions, detect fraudulent activities, and enhance overall cybersecurity posture. As cyber threats continue to evolve, the BFSI sector relies on risk analytics to fortify its defenses against phishing attacks, ransomware, and other cyber risks that could compromise customer data and financial stability.
Key
market players in the Global Risk Analytics Market are:-
- IBM Corporation
- Oracle
Corporation
- SAP SE
- SAS Institute
Inc.
- Moody's
Analytics Inc.
- OneSpan Inc.
- Capgemini SE
- Accenture PLC
- Provenir Group
- AxiomSL Ltd.
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“The
Global Risk Analytics Market in North America is poised to be the dominant
region in the industry. North America, comprising the United States and Canada,
operates within a robust regulatory framework that spans various industries,
including finance, healthcare, and energy. The financial sector, in particular,
is subject to a complex set of regulations imposed by entities such as the
Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the
Securities and Exchange Commission (SEC). Risk analytics solutions in North
America cater to the pressing need for compliance with these regulations, such
as Dodd-Frank, Basel III, and Anti-Money Laundering (AML) requirements. The
demand for risk analytics is driven by the necessity for organizations to
navigate regulatory complexities, ensure transparency, and avoid regulatory
penalties”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based global management consulting firm.
“Risk Analytics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Component (Solution and Service), By Deployment (On-premise and Cloud), By End-User (BFSI, Healthcare, Retail, Manufacturing and Others), By Region, and By Competition, 2019-2029F”, has evaluated the future growth
potential of Global Risk Analytics Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Risk Analytics Market.
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