Risk Analytics Market by Software (ETL, Risk Calculation Engines, Scorecard and Visualization, Dashboard Analytics, and GRC), Risk Type (Strategic Risk, Operational Risk, Financial Risk), Service, Deployment Model, and Vertical - Global Forecast to 2022

The risk analytics market size is projected to grow from USD 17.60 Billion in 2017 to USD 35.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. The base year considered for this report is 2016 and the forecast period is 2017–2022.

Objectives of the Study:

The main objective of this report is to define, describe, and forecast the global risk analytics market on the basis of components, risk types, deployment models, verticals, and regions. The report contains an analysis of major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the risk analytics market.

The research methodology used to estimate and forecast the risk analytics market begins with data collection through secondary research on key vendors. The sources referred for secondary research include D&B Hoover’s, Bloomberg Businessweek, and Factiva. The vendor offerings are taken into consideration in order to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key personnel, such as chief officers (CMOs and CEOs), vice presidents, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the below figure:

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The Risk Analytics comprises tools and service providers, such as SAP SE (Germany), IBM Corporation (US), Moody's Analytics, Inc. (US), SAS Institute Inc. (US), Oracle Corporation (US), Verisk Analytics, Inc. (US), Risk Edge Solutions (India), Misys (UK), Fidelity National Information Services Inc. (FIS; US), AxiomSL (US), Gurucul (US), and Provenir (US).

Key Target Audience:

• Risk engine solution providers
• Governance, Risk Management, and Compliance (GRC) solution providers
• Consulting companies
• Government agencies
• Risk assessment service providers
• Investors and venture capitalists
• Value-added resellers
• Small, medium-sized, and large enterprises
• Third-party providers
• Consultants/consultancies/advisory firms
• Support and maintenance service providers
• Technology providers

 “Study answers several questions for the stakeholders, primarily which market segments to focus in the next 2–5 years for prioritizing the efforts and investments.”

Scope of the Report:

The research report categorizes the risk analytics market to forecast the revenues and analyzes the trends in each of the following subsegments:

By Component:

• Software
• Extract, Transform and Load Tools
• Risk Calculation Engines
• Scorecard and Visualization Tools
• Dashboard Analytics and Risk Reporting Tools
• GRC Software
• Others
• Services

By Risk Type:

• Strategic Risk
• Operational Risk
• Financial Risk
• Others

By Deployment Model:

• On-Premises
• On-Demand

By Vertical:

• Banking and Financial services
• Insurance
• Manufacturing
• Transportation and Logistics
• Retail and Consumer goods
• IT and Telecommunication
• Government and Defense
• Healthcare and Life sciences
• Energy and utilities
• Other

By Region:

• North America
• Europe
• Middle East and Africa (MEA)
• Asia Pacific (APAC)
• Latin America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Product Analysis:

Product matrix gives a detailed comparison of product portfolio for each company.

Geographic Analysis:

• Further breakdown of the North America Risk Analytics market
• Further breakdown of the Europe market
• Further breakdown of the APAC market
• Further breakdown of the MEA market
• Further breakdown of the Latin America market

Company Information:

Detailed profiling and analysis of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Research Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Risk Analytics Market
    4.2 Risk Analytics: Market Share Across Various Regions
    4.3 Risk Analytics Market: By Vertical and Region
    4.4 Lifecycle Analysis, By Region, 2017

5 Market Overview and Industry Trends (Page No. - 33)
    5.1 Market Overview
           5.1.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Pressure to Adopt New Technologies for Smoother Operations
                    5.2.1.2 Rising Need for Risk Management Across Industries
                    5.2.1.3 Automation Facilitating Quicker and Actionable Decision-Making
           5.2.2 Restraints
                    5.2.2.1 High Cost of Investment
           5.2.3 Opportunities
                    5.2.3.1 Growing Traction of Cloud-Based Risk Analytics Solutions
                    5.2.3.2 Increasing Need for Organizations to Sustain in the Competitive Environment
           5.2.4 Challenges
                    5.2.4.1 Lack of Acceptance Due to Hierarchical Conflicts
                    5.2.4.2 Lack of Analytical Expertise
    5.3 Industry Trends
           5.3.1 Introduction
           5.3.2 Risk Analytics Use Cases
                    5.3.2.1 Introduction
           5.3.3 Industry Standards
                    5.3.3.1 ISO 31000 2009: Risk Management Principles and Guidelines
                    5.3.3.2 ISO/IEC 31010:2009: Risk Management–Risk Assessment Techniques
                    5.3.3.3 GRC Capability Model 3.0 (Red Book)
                    5.3.3.4 Committee of Sponsoring Organizations (COSO): Enterprise Risk Management Framework
                    5.3.3.5 Basel

6 Risk Analytics Market Analysis, By Component (Page No. - 41)
    6.1 Introduction
    6.2 Software
           6.2.1 Etl Tools
           6.2.2 Risk Calculation Engines
           6.2.3 Scorecard and Visualization Tools
           6.2.4 Dashboard Analytics and Risk Reporting Tools
           6.2.5 GRC Software
           6.2.6 Others
    6.3 Services
           6.3.1 Professional Services
           6.3.2 Managed Services

7 Risk Analytics Market Analysis, By Risk Type (Page No. - 50)
    7.1 Introduction
    7.2 Strategic Risk
    7.3 Operational Risk
    7.4 Financial Risk
    7.5 Others

8 Risk Analytics Market Analysis, By Deployment Model (Page No. - 56)
    8.1 Introduction
    8.2 On-Premises
    8.3 On-Demand

9 Risk Analytics Market Analysis, By Vertical (Page No. - 60)
    9.1 Introduction
    9.2 Banking and Financial Services
    9.3 Insurance
    9.4 Manufacturing
    9.5 Transportation and Logistics
    9.6 Retail and Consumer Goods
    9.7 IT and Telecom
    9.8 Government and Defense
    9.9 Healthcare and Life Sciences
    9.10 Energy and Utilities
    9.11 Others

10 Geographic Analysis (Page No. - 73)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia Pacific
     10.5 Latin America
     10.6 Middle East and Africa

11 Competitive Landscape (Page No. - 92)
     11.1 Microquadrant Overview
             11.1.1 Vanguards
             11.1.2 Innovators
             11.1.3 Dynamic
             11.1.4 Emerging
     11.2 Microquadrant
     11.3 Competitive Benchmarking
             11.3.1 Business Strategies Adopted By Major Players in the Risk Analytics Market
             11.3.2 Analysis of Product Portfolio of Major Players in the Risk Analytics Market

12 Company Profiles (Page No. - 96)
(Overview, Financials, Products & Services, Strategy, and Developments)*
     12.1 Fidelity National Information Services Inc.
     12.2 International Business Machines Corporation
     12.3 Oracle Corporation
     12.4 SAP SE
     12.5 SAS Institute Inc.
     12.6 Moody's Corporation
     12.7 Verisk Analytics, Inc.
     12.8 Axiomsl, Inc.
     12.9 Gurucul
     12.10 Misys
     12.11 Provenir
     12.12 Risk Edge Solutions

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 136)
     13.1 Key Insights
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customization
     13.5 Related Reports
     13.6 Author Details

List of Tables (71 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Evaluation Criteria
Table 3 Risk Analytics Market Size, By Component, 2015–2022 (USD Million)
Table 4 Extract, Transform, and Load Tools: Market Size, By Region, 2015–2022 (USD Million)
Table 5 Risk Calculation Engines: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Scorecard and Visualization Tools: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Dashboard Analytics and Risk Reporting Tools: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Governance, Risk, and Compliance Software: Market Size, By Region, 2015–2022 (USD Million)
Table 9 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Risk Analytics Market Size, By Service, 2015–2022 (USD Million)
Table 11 Risk Analytics Market Size, By Risk Type, 2015–2022 (USD Million)
Table 12 Strategic Risk: Market Size, By Region, 2015–2022 (USD Million)
Table 13 Operational Risk: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Financial Risk: Market Size, By Region, 2015–2022 (USD Million)
Table 15 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Risk Analytics Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 17 On-Premises: Market Size, By Region, 2015–2022 (USD Million)
Table 18 On-Demand: Market Size, By Region, 2015–2022 (USD Million)
Table 19 Risk Analytics Market Size, By Vertical, 2015–2022 (USD Million)
Table 20 Banking and Financial Services: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Banking and Financial Services: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 22 Insurance: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Insurance: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 24 Manufacturing: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Manufacturing: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 26 Transportation and Logistics: Market Size, By Region, 2015–2022 (USD Million)
Table 27 Transportation and Logistics: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 28 Retail and Consumer Goods: Market Size, By Region, 2015–2022 (USD Million)
Table 29 Retail and Consumer Goods: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 30 IT and Telecom: Market Size, By Region, 2015–2022 (USD Million)
Table 31 IT and Telecom: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 32 Government and Defense: Market Size, By Region, 2015–2022 (USD Million)
Table 33 Government and Defense: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 34 Healthcare and Life Sciences: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Healthcare and Life Sciences: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 36 Energy and Utilities: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Energy and Utilities: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 38 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 39 Others: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 40 Risk Analytics Market Size, By Region, 2015–2022 (USD Billion)
Table 41 North America: Market Size, By Vertical, 2015–2022 (USD Million)
Table 42 North America: Market Size, By Component, 2015–2022 (USD Million)
Table 43 North America: Market Size, By Software, 2015–2022 (USD Million)
Table 44 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 45 North America: Market Size, By Risk Type, 2015–2022 (USD Million)
Table 46 North America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 47 Europe: Market Size, By Vertical, 2015–2022 (USD Million)
Table 48 Europe: Market Size, By Component, 2015–2022 (USD Million)
Table 49 Europe: Market Size, By Software, 2015–2022 (USD Million)
Table 50 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 51 Europe: Market Size, By Risk Type, 2015–2022 (USD Million)
Table 52 Europe: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 53 Asia Pacific: Risk Analytics Market Size, By Vertical, 2015–2022 (USD Million)
Table 54 Asia Pacific: Market Size, By Component, 2015–2022 (USD Million)
Table 55 Asia Pacific: Market Size, By Software, 2015–2022 (USD Million)
Table 56 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 57 Asia Pacific: Market Size, By Risk Type, 2015–2022 (USD Million)
Table 58 Asia Pacific: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 59 Latin America: Risk Analytics Market Size, By Vertical, 2015–2022 (USD Million)
Table 60 Latin America: Market Size, By Component, 2015–2022 (USD Million)
Table 61 Latin America: Market Size, By Software, 2015–2022 (USD Million)
Table 62 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 63 Latin America: Market Size, By Risk Type, 2015–2022 (USD Million)
Table 64 Latin America: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 65 Middle East and Africa: Market Size, By Vertical, 2015–2022 (USD Million)
Table 66 Middle East and Africa: Market Size, By Component, 2015–2022 (USD Million)
Table 67 Middle East and Africa: Market Size, By Software, 2015–2022 (USD Million)
Table 68 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 69 Middle East and Africa: Market Size, By Risk Type, 2015–2022 (USD Million)
Table 70 Middle East and Africa: Market Size, By Deployment Model, 2015–2022 (USD Million)
Table 71 Market Ranking for the Risk Analytics Market, 2017

List of Figures (58 Figures)

Figure 1 Risk Analytics Market Segmentation
Figure 2 Regional Scope
Figure 3 Risk Analytics Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Market Assumptions
Figure 9 Market Evolution
Figure 10 Risk Analytics Market is Expected to Witness A Significant Growth During the Forecast Period Due to the Increased Inclination of Enterprises Toward Reducing the Risk
Figure 11 Market Snapshot By Component (2017 vs 2022)
Figure 12 Market Snapshot By Software
Figure 13 Market Snapshot By Risk Type
Figure 14 Market Snapshot By Deployment Model
Figure 15 Market Snapshot By Vertical (2017 vs 2022)
Figure 16 Advent of Dynamic Technologies is Expected to Drive the Risk Analytics Market During the Forecast Period
Figure 17 North America is Expected to Dominate the Global Risk Analytics Market in 2017
Figure 18 Banking and Financial Services, and North America are Expected to Have the Largest Market Shares in 2017
Figure 19 Asia Pacific is Expected to Enter the Exponential Growth Phase During the Forecast Period
Figure 20 Risk Analytics Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Enterprise Governance, Risk, and Compliance Market Growth
Figure 22 Software Segment is Expected to Have A Larger Market Size in 2017
Figure 23 Financial Risk is Estimated to Have the Largest Market Size in 2017
Figure 24 On-Premises Deployment Model is Expected to Have A Larger Market Size During the Forecast Period
Figure 25 Banking and Financial Services Vertical is Expected to Have the Largest Market Size During the Forecast Period
Figure 26 North America is Estimated to Have the Largest Market Size in the Risk Analytics Market During the Forecast Period
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Fidelity National Information Services Inc.: Company Snapshot
Figure 30 Fidelity National Information Services Inc.: Product Offering Scorecard
Figure 31 Fidelity National Information Services Inc.: Business Strategy Scorecard
Figure 32 International Business Machines Corporation: Company Snapshot
Figure 33 International Business Machines Corporation: Product Offering Scorecard
Figure 34 International Business Machines Corporation: Business Strategy Scorecard
Figure 35 Oracle Corporation: Company Snapshot
Figure 36 Oracle Corporation: Product Offering Scorecard
Figure 37 Oracle Corporation: Business Strategy Scorecard
Figure 38 SAP SE: Company Snapshot
Figure 39 SAP SE: Product Offering Scorecard
Figure 40 SAP SE: Business Strategy Scorecard
Figure 41 SAS Institute Inc.: Company Snapshot
Figure 42 SAS Institute Inc.: Product Offering Scorecard
Figure 43 SAS Institute Inc.: Business Strategy Scorecard
Figure 44 Moody's Corporation: Product Offering Scorecard
Figure 45 Moody's Corporation: Business Strategy Scorecard
Figure 46 Verisk Analytics, Inc.: Company Snapshot
Figure 47 Verisk Analytics, Inc.: Product Offering Scorecard
Figure 48 Verisk Analytics, Inc.: Business Strategy Scorecard
Figure 49 Axiomsl, Inc.: Product Offering Scorecard
Figure 50 Axiomsl, Inc.: Business Strategy Scorecard
Figure 51 Gurucul: Product Offering Scorecard
Figure 52 Gurucul: Business Strategy Scorecard
Figure 53 Misys: Product Offering Scorecard
Figure 54 Misys: Business Strategy Scorecard
Figure 55 Provenir: Product Offering Scorecard
Figure 56 Provenir: Business Strategy Scorecard
Figure 57 Risk Edge Solutions: Product Offerings Scorecard
Figure 58 Risk Edge Solutions: Business Strategy Scorecard

The risk analytics market is projected to grow from USD 17.60 Billion in 2017 to USD 35.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. Advent of dynamic technologies and an increasing need for industry-specific solutions are some of the key drivers of the market.

The report provides detailed insights into the global market which is segmented on the basis of components, risk types, deployment models, verticals, and regions. In the risk analytics market by components, the financial risk in the risk type segment is expected to hold the largest market share during the forecast period. Banking and financial services institutions, and insurance companies are under a constant threat of capital losses due to bad loans and non-performing assets (NPAs). Hence, they are expected to significantly deploy risk analytics software and services to better manage the risks and growing frauds.

The on-premises deployment model has a high adoption rate as compared with the on-demand deployment model. The on-premises deployment model provides confidentiality and privacy parameters to the organizational data; hence, most of the organizations are adopting the on-premises deployment model.

The insurance industry is expected to have the largest market size during the forecast period. Risk analytics solutions and services also help insurance providers to better utilize the available data across the entire customer value chain and improvise returns across their investment portfolios. Additionally, fraud analytics under risk analytics is used to recognize insurance fraud before the claim settlement, identify the right claim to focus on, reduce the time consumed in the process, and to identify suspicious participants.

The report covers all major aspects of the risk analytics market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to hold the largest market share, whereas the APAC region is projected to provide significant opportunities in this market and is expected to grow at the highest CAGR during the forecast period.

Risk analytics solutions are aggressively adopted by organizations across the globe to minimize their losses incurred due the risks in their business operations and to gain a competitive edge in the market. Companies such as IBM Corporation, Oracle Corporation, and SAS Institute offer comprehensive risk analytics solutions and services to cater to various needs of their customers. The companies are increasingly deploying both organic as well as inorganic strategies to drive their growth in the burgeoning risk analytics market. Moreover, as North America continues to grow with a strong hold on banking, insurance, healthcare, and manufacturing industry verticals, the enterprises would be looking toward adopting an astute risk management program that would help them to manage the their risks.

High cost of investment is a major restraining factor for the growth of the risk analytics market. Low acceptance due to hierarchical conflicts and lack of appropriate expertise are the hurdles in the adoption of risk analytics software and services.

Most of the vendors have adopted acquisitions, agreements, collaborations and partnerships, new product launches, product upgradations, and expansions as key strategies to expand their client base and enhance customer experience. For instance, in April 2017, 3E Company, a Verisk Analytics business segment, announced a strategic alliance with SAI Global, a risk management company. The alliance would help the customers of both the companies to have access to the data that is needed to enhance EH&S performance, and minimize risk and support regulatory compliances. The strategy of new product launch has also been adopted by the top players to enhance their presence and dominance in this market. For example, in November 2016, SAS launched the SAS Expected Credit Loss solution that collaborates between finance and risk teams to minimize the cost of compliance. The solution helps banks to be compliant with the IFRS 9 accounting standards.

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