DUBLIN--(BUSINESS WIRE)--The "Risk Analytics Market by Software Type (ETL, Risk Calculation Engines, Scorecard & Visualization) Service, Risk Type (Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical, & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Risk Analytics Market Size is Expected to Grow from USD 23.0 Billion in 2019 to USD 45.9 Billion by 2024, at a CAGR of 14.8% During the Forecast Period.
The increasing level of complexity across business processes, and rising digitalization & business process automation is expected to drive the overall growth of risk analytics market. The risk analytics market is driven by various factors, such as increasing complexities across business processes, and rising digitalization & business process automation. However, the integration of data from data silos can hinder the growth of the market.
The risk analytics market is segmented based on components into software and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth of this segment can be attributed to the growing complexities among businesses, and the introduction of new regulatory norms & compliance leads to increasing demand for professional as well as managed services.
Analytics solutions are increasingly playing an effective role in the management of different types of risks across organizations. Effective risk management has always been a primary focus of decision-makers, and the adoption of advanced technologies, such as ML and image processing, is offering a way to streamline the risk management program properly. Growing globalization, changing political and economic environment, and increasing complexity of business operations have changed the way organizations manage various types of risks.
- Compliance With Stringent Industry Regulations
- Increasing Complexities Across Business Processes
- Rising Digitalization and Bpa
- Growing Data and Security Breaches
- Intricate Nature of Regulatory Compliance
- Adoption of AI and Blockchain Technology in the Market
- Rising Innovations in the Fintech Industry
- Integration of Data From Data Silos
- ISO 31000 2009: Risk Management Principles and Guidelines
- ISO/IEC 31010:2009: Risk Management-Risk Assessment Techniques
- GRC Capability Model 3.0 (Red Book)
- Committee of Sponsoring Organizations: Enterprise Risk Management Framework
- Digital Fineprint
- Moody's Analytics
- Recorded Future
- Risk Edge Solutions
- SAS Institute
- Verisk Analytics
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