Risk Analytics Market Size to Touch USD 54.95 Billion by 2027, Rapid Adoption of Vast Volumes of Structured and Unstructured Data to Aid in Expansion

The global risk analytics market size is projected to reach USD 54.95 billion by 2027 attributed to the increasing demand for data management and analytics from the developing nations. This, coupled with the advent of artificial intelligence in risk management is expected to bode well for the market. This can be applied to detect information breach, security issues, and used on projects across various business sectors. As per a report by Fortune Business Insights™, titled, “Risk Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Services), By Application (Financial Risk, Operational Risk, Compliance Risk, Strategic Risks, and Others), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Healthcare, Retail, and Consumer Goods, Energy and Utilities, Manufacturing, and Others) and Regional Forecast, 2020-2027,” the value of the market was USD 22.18 billion in 2019 and it is likely to rise at a CAGR of 12.2% between 2020 and 2027.

Moody’s Analytics Launches Cloud-based Modeling Platform for Risk Analytics

One of the prominent companies dealing with financial intelligence, named Moody’s Analytics, announced the launch of a new cloud-based modeling platform for this analytics in May 2019. The new CAP Solution is capable of model execution, monitoring, and development. It can also help to lower the overall cost of ownership for constructing, maintaining, and supporting models, thereby proving to be an apt platform for analyzing the front, middle, and back-office data of any organization. Clients can develop and manage their internal models from personal data or derive the proprietary modeling framework of Moody’s excellent solutions for achieving their risk management goals. This flexibility is likely to help increase the popularity of CAP solution and ultimately bode well for the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/risk-analytics-market-102975

Advent of Artificial Intelligence Technology to Propel Demand for Risk Analytics

The increasing cases of data theft, mishandling of crucial information, and security breaches from various businesses are considered to be the key factors promoting the risk analytics market growth. This, coupled with a rise in the adoption of digital data and the increasing complexities across various business processes are also aiding in the expansion of the market. On the contrary, the complex nature of the regulatory compliance and mismanagement of known risks is likely to cause hindrance to the market in the coming years.

Nevertheless, the advent of artificial intelligence technology and the risk and compliance software (GRC) is likely to create lucrative growth opportunities for the market as it offers a clearer picture of the risks and threats included in the functionalities of the company.

Advent of Latest Technology to Attract More Revenues- Key Objective of Vendors

Players operating in the market for risk analytics are focusing on developing the risk management solutions with better protection features to gain momentum in the market. They are therefore, investing huge sums into programming and development of the same. Besides this, the companies are engaging in expanding their product range into various geographies for gaining a competitive edge in the market. At present, Moody’s Analytics Inc. is holding a majority of this market share owing to its diverse portfolio.

Key Industry Developments of the Market include:

• February 2020 – AP, a cloud-based tool for risk management was launched by OneSpan, a prominent player in e-signature, safe transaction applications, and trusted identification for supporting the financial institutions to fight back fraud, especially the new account and account takeover frauds.

List of Significant Players in this Market are:

• Fidelity National Information Services, Inc. (FIS)
• Recorded Future, Inc.
• OneSpan
• Risk Edge Solutions
• AxiomSL, Inc.
• Verisk Analytics, Inc.
• Moody's Analytics, Inc.
• Provenir
• Oracle Corporation
• SAP SE
• IBM Corporation
• Other Players

Further Report Findings-

• North America earned a revenue of USD 7.49 billion in 2019 and emerged dominant. This growth is accountable to the increasing focus on managing cybersecurity risks to protect confidential data from cyberattacks.
• Concerning segmentation by deployment, the market is dominated by the cloud-based solutions segment attributable to close configuration, protection, and maintenance of both the computer data and network.

The Global Market is classified into: