NEW YORK, July 18, 2016 /PRNewswire/ -- "Increasing competitive pressure on SMEs and global regulatory frameworks and government policies are driving the risk analytics market"
The global risk analytics market size is estimated to grow from USD 16.55 billion in 2016 to USD 30.18 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 12.8%. The risk analytics market is driven by factors such as increasing competitive pressure on SMEs and global regulatory frameworks and government policies.
"The scorecard and visualization tools market is expected to gain high traction during the forecast period"
The scorecard and visualization tools market is estimated to grow with the highest CAGR during the forecast period. Scorecard and visualization tools software is gaining traction in the market as it enables representation of multi-dimensional data to enhance the quality of analysis and insight by facilitating rapid and accurate observations
"North America is expected to contribute the largest market share during the forecast period"
North America has captured the largest market share in 2016. This region is witnessing rapid growth of risk analytics solutions by end-users due to the rise in operational risk and to safeguard their businesses from losses. The stern non-compliance measures adopted by the government and various regulatory bodies in this region have also given a thrust to risk analytics solutions. APAC is the fastest growing region with the highest CAGR. This region offers potential growth opportunities due to the rise in technology penetration and presence of large number of SMEs who are under tremendous competitive pressure from large enterprises.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1: 30%, Tier 2: 40%, and Tier 3: 30%
- By Designation: C level: 35%, Director level: 25%, and Others: 40%
- By Region: North America: 52%, Europe: 21%, Asia-Pacific (APAC): 20%, Rest of the World (ROW): 7%
The latest trends in risk analytics include GRC software and scorecard and visualization tools. Increasing competitive pressure on SMEs and global regulatory frameworks and government policies are driving the risk analytics market, which is improving the overall business value. The risk analytics market is consumer driven and its major end-users are SMEs and large enterprises. Moreover, the market in APAC is gaining high market traction due to the increasing economic growth and increasing number of SMEs.
The various key risk analytics vendors profiled in the report are as follows:
1. IBM Corporation (New York, U.S.)
2. SAP SE (Walldorf, Germany)
3. SAS Institute, Inc. (North Carolina, U.S.)
4. Oracle Corporation (California, U.S.)
5. FIS Global (Florida, U.S.)
6. Verisk Analytics, Inc. (New Jersey, U.S.)
7. Moody's Analytics, Inc. (New York, U.S.)
8. AxiomSL (New York, U.S.)
9. Accenture PLC (Dublin, Ireland)
10. Fair Isaac Corporation (FICO) (California, U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the risk analytics market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions.
Read the full report: http://www.reportlinker.com/p03957370-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/risk-analytics-market-by-software-service-application-vertical--by-region---global-forecast-to-2021-300300169.html