SAP (Germany) and Alteryx (US) are leading players in Risk Analytics Market
The global risk analytics market size to grow from USD 39.3 billion in 2022 to USD 70.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 12.4% during the forecast period. Various factors such as rising government compliance with stringent industry regulation, growing incidences of data thefts and security breaches and increasing complexities across business processes, are expected to drive the adoption of risk analytics solutions and 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), SAP (Germany), SAS (US), Oracle (US), FIS (US), Moody’s Analytics (US), Verisk Analytics (US), Alteryx (US), AxiomSL (US), Gurucul (US), Provenir (US), BRIDGEi2i (India), Recorded Future (US), AcadiaSoft (US), Qlik (US), DataFactZ (US), CubeLogic Limited (UK), Risk Edge Solutions (India), Equarius Risk Analytics (US), Quantifi (US), Actify Data Labs (India), Amlgo Labs (India), Zesty.ai (US), Artivatic (India), Artivatic (US), RiskVille (Ireland), Quantexa (UK), Spin Analytics (UK), Kyvos Insights (US), 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.
SAP is one of the leading providers of enterprise application solutions and services. It is also a leading experience management, analytics, and BI company. Its solutions are compliant with GDPR. They enable enterprises to build intelligent AI and ML-based software to combine human expertise with machine-generated insights. The company segments its diverse portfolio into applications, technology and support, services, Concur, and Qualtrics. It works on an intelligent enterprise framework, which includes experience, intelligence, and operations business models.
The company’s software, technologies, and services address the three core elements of the intelligent enterprise: intelligent suite, business technology platform, and experience management platform, for 25 industries and 12 lines of business. SAP’s core business consists of selling software licenses and providing services, such as consulting, training, and maintenance. It has regional offices in 180 countries and caters to various industries, including energy and natural resources, financial services, consumer, discrete, and public services. SAP has around 437,000 customers worldwide, and its vast product portfolio covers Enterprise Resource Planning (ERP) and Finance, Customer Relationship Management (CRM) and Customer Experience, Network and Spend Management, Digital Supply Chain, HR and People Engagement, and Business Technology Platform. It has a geographical presence in the Americas, Europe, MEA, and APAC
Alteryx is one of the leaders in data blending and advanced analytics software. The company caters to over 200,000 users, and its customers include Anheuser Busch, LLC, Barclays Capital Inc., Biogen Idec Inc., Chevron Corporation, Daimler AG, Federal Home Loan Mortgage Association, General Mills, Inc., LOreal USA, Inc., Netflix, Inc., Pfizer Inc., salesforce.com, inc., Société Générale S.A., Unilever PLC., and Visa Inc. It also caters to various growing organizations, including Vertix, Rosenblatt Securities, and ConsumerOrbit. Alteryx has entered into partnerships and collaborations with top companies, such as Impala, Amazon RedShift, Teradata, and Spark, expanding its presence in North America, Europe, APAC, MEA, and Latin America. Since 2010, the company has been expanding its statistical and analytics capabilities, increasing its big data and SaaS connectivity, and delivering a cloud platform for analytics applications called Alteryx Analytics Gallery. Alteryx caters to various verticals, including BFSI, healthcare, retail, transportation and logistics, oil and gas, real estate, communication, energy and utilities, education, manufacturing, media and entertainment, travel and hospitality, and the public sector.
Related Reports:
Risk Analytics Market by Component (Software (ETL Tools, Risk Calculation Engines, GRC Software) and Services), Risk Type (Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027
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