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Risk Analytics Market Growing at a CAGR 14.7% | Key Player IBM, Oracle, SAP, SAS Institute, FIS

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Risk Analytics Market Growing at a CAGR 14.7% | Key Player IBM, Oracle, SAP, SAS Institute, FIS

June 22
11:00 2022
Risk Analytics Market Growing at a CAGR 14.7% | Key Player IBM, Oracle, SAP, SAS Institute, FIS
IBM (US), Oracle (US), SAP (Germany), SAS Institute (US), FIS (US), Moody’s Analytics (US), Verisk Analytics (US), AxiomSL, (US), Gurucul (US), Provenir (US), Risk Edge Solutions (India), BRIDGEi2i (India), Recorded Future (US), DataFactZ (US), Alteryx (US), AcadiaSoft (US), Qlik (US), CubeLogic (UK), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India).
Risk Analytics Market by Software Type(ETL, Risk Calculation Engines), Service, Risk Type(Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2026

The global Risk Analytics Market size to grow from USD 32.6 billion in 2021 to USD 64.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. Various factors such as compliance with stringent industry regulations, increasing complexities across business processes, rising digitalization and BPA, and growing data and security breaches are expected to drive the adoption of risk analytics solutions and services.

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COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, which are putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. As per an article by Genpact, Mortgage forbearance increased sharply, showing a nearly 3,000% increase from March 2020 to May 2020. To prepare for such extreme shocks and uncertainty, large US banks increased their loss provisions by ~3–4 times for Q1 2020 compared to Q4 2019, based on their expectations of impending defaults and charge-offs. Regulators are focusing on implementing various measures to get financial institutions back on the path of recovery. Basel Committee on Banking Supervision (BCBS), along with the International Organization of Securities Commission (IOSCO), has decided to postpone implementing the final two phases of margin requirement by one year. Increased volatility in the market has caused high trading losses, affected earnings, and capital preservations, and have led to breaches of limit/thresholds. Higher volatility, price movements, and counterparty risks have directly impacted risk-weighted assets. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.

Scope of the Report

Report Metric

Details

Market size available for years

2015–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

 USD Million

Segments covered

Component, Deployment Mode, Organization Size, Risk type, Vertical, And Region

Geographies covered

North America, Europe, APAC, Latin America and MEA

Companies covered

IBM (US), Oracle (US), SAP (Germany), SAS Institute (US), FIS (US), Moody’s Analytics (US), Verisk Analytics (US), AxiomSL, (US), Gurucul (US), Provenir (US), Risk Edge Solutions (India), BRIDGEi2i (India), Recorded Future (US), DataFactZ (US), Alteryx (US), AcadiaSoft (US), Qlik (US), CubeLogic (UK), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India), Amlgo Labs (India), Zesty.ai (US), Artivatic (India), Attestiv (US), RiskVille (Ireland), Quantexa (UK), Spin Analytics (UK), Kyvos Insights (US), and Imply (US)

The services segment to hold higher CAGR during the forecast period

Based on components, the risk analytics market is segmented into software and services. The software segment of the report is subsegmented into ETL tools, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools, and GRC software, and others (operational risk management, human resource risk management, and project risk management, whereas the services segment has been further divided into professional and managed services. These services play a vital role in the functioning of risk analytics solutions, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of risk analytics software is expected to boost the adoption of professional and managed services.

According to MarketsandMarkets, risk analytics is a technique that measures, quantifies, and predicts risks from organizational data. It provides a foundation for organizations to get a unified view of enterprise risks and thus, offers more visibility into operational, financial, strategic, and other related risks, enabling decision-makers to make informed decisions. The risk analytics market comprises risk analytics services and software solutions embedded with advanced technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), and techniques that comprehensively measure, quantify, and predict risks through effective data utilization.

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Some of the key players operating in the risk analytics market include IBM (US), Oracle (US), SAP (Germany), SAS Institute (US), FIS (US), Moody’s Analytics (US), Verisk Analytics (US), AxiomSL, (US), Gurucul (US), Provenir (US), Risk Edge Solutions (India), BRIDGEi2i (India), Recorded Future (US), DataFactZ (US), Alteryx (US), AcadiaSoft (US), Qlik (US), CubeLogic (UK), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India), Amlgo Labs (India), Zesty.ai (US), Artivatic (India), Attestiv (US), RiskVille (Ireland), Quantexa (UK), Spin Analytics (UK), Kyvos Insights (US), and Imply (US). These risk analytics vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global risk analytics market.

Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. Oracle offers Primavera Software, Oracle Enterprise GRC Manager, Risk Management Cloud Application, Risk and Performance Management Solutions, Financial Crime and Compliance Management, Data Management and Regulatory Reporting, and Oracle Financial Services Analytics in the risk analytics market.

IBM is a multinational technology and consulting corporation founded in the year 1911 and is headquartered in New York, US. It offers infrastructure, hosting, and consulting services and operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. It caters to various industry verticals that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. The company has a robust presence in the Americas, Europe, the MEA, and Asia Pacific and clients in more than 175 countries. In the risk analytics market, IBM offers IBM Risk Management solutions to make risk-aware decisions and meet regulatory compliance demands through smarter risk management.

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