Risk analytics has gained popularity due to increasing amount of data being exposed. Risk analytics provides a clear visibility regarding the challenges and uncertainties about a particular process. By assessing the uncertainties, risk analytics helps in avoiding system failures and anything that could hinder the normal business operations. Risk calculation engines and risk assessment tools help in predicting risks and avoiding future costs of handling those risks.
By vertical segmentation, the BFSI segment is growing at a faster rate as compared to others owning to capacity of risks involved in that area. Banking and insurance sectors comprises of more risks and need risk assessment and risk controls. This helps in reducing time being consumed and identifying fraudulent activities. Owing to this, the BFSI segment is driving the market growth of risk analytics market and is expected to exhibit highest market share during the forecast period.
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Major Key Players
SAP SE (Germany),
IBM Corporation (U.S.),
Moody’s Analytics, Inc. (U.S.),
SAS Institute Inc. (U.S.),
Oracle Corporation (U.S.),
Verisk Analytics, Inc. (U.S.),
Risk Edge Solutions (India),
Misys (U.K.), AxiomSL (U.S.),
Gurucul (U.S.) and Provenir, Inc. (U.S.) among others.
According to MRFR, The global Risk Analytics Market is expected to grow at approx. USD 42 Billion by 2023, at 14% of CAGR between 2017 and 2023.
Mar 2018 Andrew Davidson & Co., Inc., who have established themselves as a supplier of consulting and risk analytics, and Murex who is an international leader in risk, trading, and processing solutions have recently announced that AD&Co’s OAS Subroutine, which contains the Agency Loan Dynamics Model (Agency LDM) and is now accessible within Murex’s MX.3 platform.The new partnership delivers their clients with an advanced risk analytics product, comprising of Value-at-Risk (VaR) capabilities for Mortgage-Backed Securities (MBS).The inclusion of AD&Co’s OAS Subroutine allows Murex clients to model agency securities comprising Inverse IO strips and Interest Only (IO), by means of widespread industry Options Adjusted Spread (OAS) model.
Risk analytics is influenced by increasing amount of data availability and the threats that are involved in exposure of that data. Threats and frauds which are not clearly visible but can be derived with the help of risk assessment tools. Risk analytics market can be segmented on the basis of component, deployment and vertical. The deployment segment is further classified into on-demand and on-premise segments. The on-demand market is expected to grow at the highest rate during the forecast period owing to the factors like cost effectiveness and scalability. On-demand deployment is easy to deploy which is another factor that has increased its popularity.
The risk analytics market has been segmented into segments such as deployment, component, vertical and region.
By Deployment: On-Premise and On-Demand
By Component: Software and Service
By Vertical: Healthcare, BFSI, Government, Transportation, Manufacturing, Retail, IT & Telecommunication
By Region: Latin America, Europe, Asia Pacific, North America and Middle East & Africa.
The regional study of the risk analytics sector includes regions such as North America, Asia Pacific, Europe and Rest of the World. It has been noted that the North American market is expected to be credited for the leading share of the industry, whereas the Asia-Pacific segment is anticipated to develop at a swift rate during in the period up to 2023. The main development of the risk analytics industry in the North American region can be attributed to the technical innovations and rising use of mobiles and tablets in the region.
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- Technology investors
- Integrated device manufacturers (IDMs)
- Original equipment manufacturers (OEMs)
- Research/Consultancy firms
- Risk engine solution providers
- Government agencies
- Risk assessment service providers
- Venture capitalists
- Value-added resellers
- Small, medium-sized, and large enterprises
- Third-party providers
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