Risk Analytics Market Set to Soar Past USD 176.82 Billion by 2030 | Skyquest Technology

Westford,USA, Jan. 19, 2024 (GLOBE NEWSWIRE) — The global Risk Analytics market size is expected to reach USD 176.82 billion by 2030 and exhibit a CAGR of 22,2% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing volume of data generated in the digital age, regulatory requirements that mandate risk assessment and reporting, the need for proactive risk management to mitigate financial losses, and the rising importance of predictive analytics in identifying emerging risks fuel the market’s growth.

According to SkyQuest’s latest global research of the Risk Analytics market, increasing adoption of artificial intelligence and machine learning for more precise risk assessment and predictive analytics, the integration of big data analytics to process vast amounts of data and identify emerging risks, the rise of cybersecurity risk analytics to combat cyber threats and data breaches, and the growing importance of ESG (Environmental, Social, and Governance) risk analytics to assess non-financial risks related to sustainability and corporate responsibility are the trends that aid in the market’s growth.


Browse in-depth TOC on “Risk Analytics Market”

  • Pages – 157
  • Tables – 60
  • Figures -77

Risk analytics uses data, statistical analysis, and modelling to assess and manage risk. It helps organizations identify, quantify, and understand the risks they face and develop strategies to mitigate them.

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Prominent Players in the Risk Analytics Market

  • Accenture
  • Aon
  • Baker Tilly
  • BlackRock
  • Cboe Global Markets
  • Cognizant
  • FICO
  • Gartner
  • Guidewire Software
  • IBM
  • Marsh & McLennan Companies
  • McKinsey & Company
  • Moody’s Analytics
  • Optum
  • PwC
  • RenaissanceRe
  • SAS Institute
  • S&P Global
  • Tetra Tech
  • Willis Towers Watson

Report Scope & Segmentation:

Attributes Details
Forecast Period 2023-2030
Market Size in 2022  43.45 Billion
2030 Value Projection 176.82 Billion
CAGR 22.2%
Segments Covered
  • Deployment Outlook

On-Premise and Cloud

  • Enterprise Size

Large Enterprise, Small & Medium Enterprise

Regions Covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)

Credit Risk Demand to Grow Substantially in the Forecast Period

Credit risk dominates the global online market as it is a primary concern for financial institutions, including banks and lending organizations. Managing credit risk is critical for maintaining financial stability and ensuring the health of lending portfolios.

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Banking, Financial Services, and Insurance (BFSI) is the Leading Application Segment

In terms of application, Banking, Financial Services, and Insurance (BFSI) is the leading segment due to operating in a highly complex risk landscape, encompassing credit risk, market risk, operational risk, compliance risk, and more. Financial institutions require advanced risk analytics solutions to navigate these intricacies effectively.

North America is the leading Market Due to Technological Advancements

Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements.  The region has stringent regulatory requirements, such as those imposed by the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), which drive the adoption of risk analytics solutions. Additionally, North America is home to many leading technology providers specializing in risk analytics.

A recent report thoroughly analyzes the major players operating within the Risk Analytics market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Risk Analytics.

Key Developments in Risk Analytics Market

  • Synspective, a supplier of synthetic aperture radar (SAR) satellite data and solutions, and Geo Climate Risk Solutions Pvt. Ltd. (GCRS), a provider of solutions, consultancy, and advisory services that concentrate on natural hazards risk analytics and environmental and sustainability challenges, are pleased to announce a new partnership for solutions for SAR-based analysis in the mining and critical infrastructure sectors. In order to expedite regional net-zero projects, GCRS and Synspective will work together to provide risk analysis solutions for the mining and critical infrastructure sectors.

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Key Questions Answered in Risk Analytics Market Report

  • What specific growth drivers will impact the market during the forecast period?
  • Can you list the top companies in the market and explain how they have achieved their positions of influence?
  • In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?

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