Global Risk Analytics Market (2021 to 2026) - Rising Innovations in the Fintech Industry Present Opportunities - ResearchAndMarkets.com
The "Risk Analytics Market With COVID-19 Impact Analysis by Software Type(ETL, Risk Calculation Engines), Service, Risk Type(Strategic Risk, Operational Risk, Financial Risk), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global risk analytics market size to grow from USD 32.6 billion in 2021 to USD 64.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.
Various factors such as compliance with stringent industry regulations, increasing complexities across business processes, rising digitalization and BPA, and growing data and security breaches are expected to drive the adoption of risk analytics solutions and services.
The GRC software segment to have the largest market size during the forecast period
The Risk analytics market has been segmented based on components into software and services. The software solutions offered in the market include ETL tools, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools, and GRC software, and others (operational risk management, human resource risk management, and project risk management). The GRC software segment is expected to have the largest market size during the forecast period. The GRC software enables organizations to build data strategies for managing several corporate governances and corporate compliance issues to meet regulatory requirements. This leads to the adoption of GRC software in the risk analytics market.
The cloud segment to havethe highest CAGR during the forecast period
By deployment mode, the risk analytics market has been segmented into on-premises and cloud. The cloud deployment mode enables resiliency and risk reduction, which is not found in on-premises infrastructure. Cloud-hosted environments enable companies to move more rapidly when there is an outage or disruption as compared to on-premise outages and disruptions because the issues are easier to identify and rectify. This leads to the higher growth of cloud deployment mode.
Large enterprises segment to have the largest market size during the forecast period
The risk analytics market has been segmented by organization size into large enterprises and SMEs. The market share of large enterprises is higher; however, the market for SMEs is expected to register a higher CAGR during the forecast period. Organizations need to adhere to various regulatory compliances. The need to identify the potential threats faced by the organizations leads to the adoption of risk analytics solutions by large organizations.
Among regions, APAC to hold higher CAGR during the forecast period
APAC is expected to grow at a good pace due to growing digitalization, business complexity, and rising cyberattacks and fraudulent activities in the region. APAC has continually presented lucrative market opportunities for risk analytics solution providers with a notable increase in risk analytics across both its developed and emerging countries. China, Japan, and India have displayed ample growth opportunities in the risk analytics market.
For more information about this report visit https://www.researchandmarkets.com/r/v6lnca
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