SAP (Germany) and Moody’s Corporation (US) are leading players in Risk Analytics Market
The global risk analytics market is expected to grow from USD 23.0 billion in 2019 to USD 45.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. Major growth factors for the market include increasing complexities across business processes, and rising digitalization & business process automation to enhance the need for new marketing technique.
The risk analytics market comprises leading solution providers, such as IBM (US), Oracle (US), SAP (Germany), SAS Institute (US), FIS (US), Moody’s Corporation (US), Verisk Analytics, Inc. (US), AxiomSL, Inc. (US), Gurucul (US), Provenir (US), Risk Edge Solutions (India), BRIDGEi2i Analytics Solutions (India), Recorded Future, Inc. (US), DataFactZ (US), and Digital Fineprint (England). The study includes an in-depth competitive analysis of the key players in the risk analytics market with their company profiles, recent developments, and key market strategies. The players in the market have embraced various strategies to expand presence and their market shares. New product launches & enhancements; and partnerships, acquisitions, & collaborations, have been the most adopted strategies by the major players from 2017 to 2019, which helped them innovate on their offerings and broaden their customer base.
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SAP (Germany) is among one of the leaders in the risk analytics market. It adopts a balanced approach towards growth strategies and continues to enhance its expertise through constant product enhancements, technology acquisitions, collaborations, and partnerships. For instance, in February 2019, SAP released the latest iteration of its cloud-based enterprise resource planning for ERP SAP S/4HANA platform, with an array of new features:
- Advanced financial closing
- Improved quality management during goods receipts
- Time-based revenue recognition as per IFRS15 standards
- Transportation management
- Service management.
Moody’s Analytics (US) is another established player in the risk analytics market. With its comprehensive product and service offerings, Moody’s Analytics has adopted various organic and inorganic strategies to strengthen its product portfolio and expand its presence in various geographical regions. For instance, in June 2019, Moody’s Analytics collaborated with Imarticus Learning to launch the Credit Risk and Underwriting Prodegree course to provide training to financial professionals in India. This will help enhance the skillsets of these professionals.
Related Reports:
Risk Analytics Market by Software Type (ETL, Risk Calculation Engines, Scorecard and Visualization), Service, Risk Type (Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2024
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