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Risk Analytics Market Trends

Report ID: GMI9133
Published Date: Apr 2024
Report Format: PDF

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Risk Analytics Market Trends

The integration of geospatial data and analysis techniques, coupled with the integration of big data, serves as a pivotal trend propelling the risk analytics industry forward. By leveraging geospatial data, organizations gain insights into location-based risks, such as natural disasters and geopolitical instability, enhancing their risk assessment capabilities. Additionally, the integration of big data enables the processing and analysis of vast datasets, providing comprehensive risk insights across diverse domains, thus driving market expansion.

For instance, in January 2024, Tech Mahindra introduced i.Riskman, an ESG risk assessment platform aiding organizations in identifying, assessing, and managing climate-related risks. It offers a holistic solution to evaluate climate risk impacts on business strategies, finances, and overall risk exposure.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of risk analytics reached USD 36.6 billion in 2023 and will grow at over 13% CAGR between 2024 and 2032, owing to the emphasis on enhancing operational efficiency and cost-effectiveness.

The solutions component segment is set to exceed USD 60 billion by 2032, driven by its pivotal role in providing scalable and customizable solutions to organizations worldwide.

North America risk analytics industry held a share of 34% in 2023, fueled by its robust technological infrastructure, fostering innovation and adaptation.

Experian, FactSet Research Systems, IBM Corporation, Moody's Analytics, Inc., Oracle, Risk Management Solutions (RMS), SAS Institute Inc., Verisk Analytics, and Verisk Analytics, Inc among others.