PUNE, India, June 1, 2017 /PRNewswire/ --
According to a new market research report "Risk Analytics Market by Software (ETL, Risk Calculation Engines, Scorecard and Visualization, Dashboard Analytics, and GRC), Risk Type (Strategic Risk, Operational Risk, Financial Risk), Service, Deployment Model, and Vertical - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to grow from USD 17.60 Billion in 2017 to USD 35.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. Advent of dynamic technologies and increasing need for industry-specific solutions are some of the key driving forces of the Risk Analytics Market.
Browse 69 market data tables and 63 figures spread through 156 pages and in-depth TOC on "Risk Analytics Market"
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The operational risk type is expected to grow at the highest CAGR during the forecast period.
The risk of loss due to inappropriate internal processes, people, and systems, or from external events is defined as an operational risk. The operational risk includes human capital risk, communication risk, sustainability risk, regulatory & legal risk, governance risk, financial reporting risk, fraud risk, technology risk, and hazard risk. In the recent years, operational risk has developed as a joint category for most of other risk administration strategies. Risk analytics empowers an enterprise to manage operational risks associated with internal factors such as employee/human resource errors, systems failures (hardware, software, networking, and utility outages/disruptions), losses to physical assets, and criminal activities (including fraud and cybercrime).
The on-demand deployment model is expected to grow at the highest CAGR during the forecast period.
The Risk Analytics Market by deployment model has been segmented into two types: on-premises and on-demand. The on-demand deployment model is expected to grow at the highest CAGR during the forecast period, owing to its cost effectiveness, scalability, and ease of deployment.
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North America is expected to dominate the Risk Analytics Market during the forecast period.
The global Risk Analytics Market is segmented on the basis of major regions: North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to hold the largest market share in the Risk Analytics Market in 2017, owing to unprecedented growth of data in the region driven by the increasing adoption of mobile and IoT technologies and the direct presence of major risk analytics vendors. The Risk Analytics Market in APAC is expected to grow at the highest CAGR between 2017 and 2022. Developments in advanced technologies, uncertain economic conditions, and the presence of a large number of SMEs are the major contributing factors for the growth of the Risk Analytics Market in this region.
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Major risk analytics vendors include SAP SE (Germany), IBM Corporation (US), Moodys Analytics, Inc. (US), SAS Institute Inc. (US), Oracle Corporation (US), Verisk Analytics, Inc. (US), Risk Edge Solutions (India), Fidelity National Information Services Inc.(FIS; US), Misys (UK), AxiomSL (US), Gurucul (US), and Provenir (US).
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