Risk Analytics Market to reach USD 74.2 billion by 2027.
Global risk analytics Market is valued approximately at USD 28.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.7% over the forecast period 2021-2027. Risk management is the primary reporting system through which the company monitors and records failure incidents in real time since they have happened. The risk analytics market is being driven by increasing complexities across business process. For instance, growing innovations, lack of information, growth of new technologies such as AI, ML has increased the data processing harder which has become the reason for increased business complexity. Therefore, to make data gathering easy and to solve the problem of decision-making easier corporations are willing to use analytical tools so as to reduce their complexity and get better insights of data. For instance, in April 2019, Citigroup, together with Ernst and young global limited and taking help with SAS Institute, developed an AI powered scoring engine named NextGen. The purpose of this engine was to streamline manual time-consuming procedures.
Furthermore, the risk of security breaches has become a main problem nowadays for corporations. Therefore, the use of reactive risk management inbuilt with artificial intelligence helps in tracking and evaluating breaches and improve the management of companies. For example, a tool under the name Solvency Watch was developed by Moody's Analytics in June 2019. The aim of this tool was to let insurers and chief risk officers to track their solvency indicators and also allow user to detect various risk associated. However, many organizations fail to recognize the risk to which they can be exposed and hence inhibit themselves from implementing these tools, which can be harmful and can negatively impact the market.

The key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World are taken into consideration during the regional analysis of the Risk Analytics Market . North America is the leading region across the world in terms of market share due to the increasing acceptance of analytics tools. For example, banks and financial firms are using analytical tools to reduce frauds and cybercrimes in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to favorable government policies and growing demand for data storage and security.
Major market player included in this report are:

Moody's Analytics
Verisk Analytics
AxiomSL,
Gurucul
Provenir
Risk Edge Solutions
BRIDGEi2i
Recorded Future
DataFactZ
Alteryx


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment type:
Cloud
On-premises
By Organization Size:
Large enterprises
Small and medium-sized enterprises (SMEs)
By Risk type:
Strategic Risk
Operational Risk
Financial Risk
Others (Reputational Risk, Environmental Risk, Third-Party Risk, And Economic Risk


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Risk Analytics (PSF) Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors