Risk analytics is a technique which helps in assisting various organizations in knowing the risks associated with their businesses. Risk analytics are a set of tools which helps organizations in deriving and concluding decisions associated with risks involved and thus helps in improving their overall business performance. Moreover, apart from this, the risk analytics tools aids in improving return on invested capital as well as reduces the total cost involved in the regulatory compliance. Owing to the enterprises opting for reducing catastrophic losses, there is a rising trend associated with the rapid adoption of risk analytics tools across the globe. In addition, risk analytics tools aids in central clearing of over-the-counter derivatives. Risk analytics initially helps the organizations in identifying the risks within their business functions. It facilitates various organizations to recognize, define and manage the risks accurately. Demand for risk analytics is anticipated to increase across various business processes owing to the rising demand for risk management and risk identification. Increasing developments in the overall risk analytics techniques is a key factor transforming the global risk analytics market and thus enhancing its capability. Real-time risk analytics solutions come with examining, processing and calculating capabilities on a real time basis. There are a large number of ways by which all types of financial organizations are adopting risk analytics to alleviate and manage the associated risks.
Increasing demand to tackle business verticals with specific challenges and rising concentration on competitive intelligence and related market is a key factor accelerating the growth of global risk analytics market. Risk analytics is rapidly getting popular across corporate sector as well as financial services sector. Various financial organizations are anticipated to adopt risk analytics solutions due to increasing regulatory requirements across the globe. Moreover, rapid emergence of on-demand and real time risk analytics solutions is another major element boosting the demand for risk analytics across the globe. Increasing advancements in technology is another important factor providing efficient trading data and real time market to the organizations, thus offering risk on demand analytics services.
The global risk analytics market can be segmented on the basis of software, service, application, and region. On the basis of software, the global risk analytics market can be segmented into extract, transform and load tools, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools, GRC software and others. On the basis of service, the global risk analytics market can be segmented into system integration service, support and maintenance service and risk assessment and analysis service. On the basis of application, the global risk analytics market can be segmented into fraud detection and prevention, liquidity risk analysis, credit risk management, real time situational awareness, industry benchmarking and validation and others. On the basis of region, the global risk analytics market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
Key players involved in the global risk analytics market are focusing on key market strategies including mergers and acquisitions with local as well as established players. Moreover, companies are also focusing on collaborating with local players to increase their reach across all geographies and earn huge profits. Partnership with multinational companies to strengthen their market reach and goodwill is also anticipated to be a major market strategy in the global risk analytics market. Some of the prominent players in the global risk analytics market include International Business Machines Corporation, Oracle India Pvt. Ltd., Microsoft Corporation, SAS Institute Inc., SAP A.G., Teradata Corporation, Cisco Systems, Inc. and TIBCO Software Inc. among others.
Market by Software
· Extract, transform and load tools
· Risk calculation engines
· Scorecard and visualization tools
· Dashboard analytics and risk reporting tools
· GRC software
Market by Service
· System integration service
· Support and maintenance service
· Risk assessment and analysis service
Market by Application
· Fraud detection and prevention
· Liquidity risk analysis
· Credit risk management
· Real time situational awareness
· Industry benchmarking and validation
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA