Global Risk Analytics (Software, Services) Market to Grow from $9.15 Billion in 2017, to $19.31 Billion in 2023 - ResearchAndMarkets.com
May. 16, 2018
DUBLIN--(BUSINESS WIRE)--May 16, 2018--The "Global Risk Analytics Market - Segmented by Material Type (Software, Services), Application, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global risk analytics market was valued at USD 9.15 billion in 2017, and is expected to reach a value of USD 19.31 million by 2023 at a CAGR of 13.26%, during the forecast period (2018-2023). The market is segmented by type of offering, applications, end-user vertical, and geography. This report focuses on adoption of these solutions for various applications various regions. The study also emphasizes on latest trends, industry activities, and vendor market activities.
The market is expected to move towards taking a unified approach to risk management, and developing an integrated risk management solutions to enable business units and functions to incorporate risk intelligence into the many actions they take across different business units. Deployment of these solutions over the cloud is expected to provide opportunities to SMEs to take better decisions. However, the cyber risks associated are the major factor restraining the deployment of these solutions over the cloud.
Banks across the globe are realizing that they need a more rational approach for managing a growing plethora of risks enveloping the banking and financial industries landscape, and have now understood the significance of risk analytics. The objective of risk analytics is to establish an integrated approach and consistent set of processes that reduce the redundant risk & control activities that eliminate duplication in the business units, and cut down costs.
Approximately 73% of the banks are expected to drive the highest amount of investment in risk analytics are data quality and sourcing, systems integration, and modeling.
Risk analytics enables the banks and finance institutions to move away from the silo approach to risk management and move towards the holistic view of enterprise wide risks. For instance, in Operational Risk Management (ORM) the number of transactions that needed to be monitored is growing at an exponential rate, thus, implying the pressure of current banking infrastructure and enabling the market for risk analytics.
Key Developments in the MarketJanuary 2018 - SAS enabled artificial intelligence (AI) solutions by leveraging machine learning, deep learning, text analytics, forecasting and statistics. Its latest SAS Platform release includes a new offering, SAS Visual Text Analytics, and significant enhancements to SAS Visual Data Mining and Machine Learning. They both take advantage of the new capabilities available in SAS Viya. These solutions are likely to address their portfolios in ERP, CRM and risk management software
Major PlayersIBM Oracle Corporation SAS Institute Inc. SAP SE
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Technology Snapshot
6. Global Risk Analytics Market Segmentation
7. Competitive Intelligence - Company Profiles
8. Investment Analysis
9. Future Outlook of Risk Analytics Market
For more information about this report visit https://www.researchandmarkets.com/research/npwnfv/global_risk?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180516006063/en/
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Related Topics:Software,Data Analytics
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE
SOURCE: Research and Markets
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PUB: 05/16/2018 11:53 AM/DISC: 05/16/2018 11:53 AM