Risk Analytics Market

Risk Analytics Market

Risk Analytics Market Forecasts to 2028 – Global Analysis By Component (Software, Solution), Risk Type (Strategic Risk, Compliance Risks), Application, End User, and By Geography

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4.2 (78 reviews)
Published: 2022 ID: SMRC21605

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2021)

US $33.17 BN

Projected Year Value (2028)

US $97.78 BN

CAGR (2021 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Fastest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Risk Analytics Market is accounted for $33.17 billion in 2021 and is expected to reach $97.78 billion by 2028 growing at a CAGR of 16.7% during the forecast period. Risk analytics is the kind of software utilized by an organization to efficiently and effectively manage different types of risks. The risk analytics factor is utilized in multiple industries to provide clear visibility. This software is known for its various capabilities such as identifying and managing various types of risk and for taking measures to avoid a potential crisis. It accepts all the challenges and uncertainties regarding a process.

Market Dynamics:


Rising complexities across business processes

Increasing business complexities are challenging for companies to deal with a high number of data and identify potential risks. The reasons of rising business complexity are technological advancements, changing nature of complexities, need of information management, and government oversight. Organizations became more cautious to risk management and have started investing a significant amount in adopting new techniques that can assist in managing risk across the organization. Furthermore, because of growing technological innovation and the increasing new technologies, data has been generated in a huge amount. The increase in data has prompted business complexity, and decision-making has become more intricate. Most organizations have begun implementing analytical solutions that simplify data gathering and analysis processes. The analytical solutions also assist in acquiring insights from the data and reducing complexity.


High cost

Implementation of standalone software solutions with overall enterprise resource planning software is cost-intensive as well as time-consuming. Risk analytics comprises various modules, which are utilized for various purposes in recognizing the risk. This module permits different customization methods for various organizations so that it fits the specific requirement of the organization. This customization increases the expense of the implementation of the software. Furthermore, the software needs annual cost of maintenance and cost for fixing bugs as well as fees for the continual utilization of the product. In addition, the complex nature of the software and difficulty in installation & configuration of the software hampers the growth of the market.


Advancements in the FinTech industry

The FinTech industry constitutes financial and innovative solutions providing organizations. This is the most data-sensitive industry that is vulnerable to different types of risks. Thus, organizations, both large enterprises, and SMEs are focusing on the FinTech business to invest in innovative solutions, and introduce technologies in the market. The risk analytics market is being digitalized and enhanced in different aspects, such as the launch of new comprehensive tech-enabled tools and the implementation of new business models for risk management. Tech-enabled tools aid in investment research, compliance, and risk management. These developments are assisting FinTech vendors with offering effective risk management solutions and adding more value to their customers.


Integration complexity of vast volumes of data from multiple touchpoints

Expansion in data-driven organizations and rapid adoption of big data are frequently overwhelming with the collection of a high volume of data. Analyzing data from numerous sources and touchpoints prompts inadequate or inaccurate analysis, particularly in time limitations, and needs further scrutiny.  Extracting value from data has turned into a vital requirement for organizations to effectively mitigate risks, target valuable customers, and evaluate business performance. Furthermore, monetizing these data assets requires the availability of a sufficient amount of data. However, data consolidation from distinct data sources into meaningful information can incite various challenges for organizations, particularly centralized business enterprises.

The software segment is expected to be the largest during the forecast period

The software segment is estimated to have a lucrative growth due to the increasing digitization & business process automation, development of data silos across the organizations, and rising data & security breaches. Several providers are considering investing in R&D to make it better and affordable even for small and medium-scale enterprises.

The banking, financial services, and insurance (BFSI) segment is expected to have the highest CAGR during the forecast period

The banking, financial services, and insurance (BFSI) segment are anticipated to witness the fastest CAGR growth during the forecast period owing to an increase in maintenance of risk management and stringent regulations with lending and investments of funds. The rapid adoption of digitalization and increase in different ways of transaction such as digital payment systems, cryptocurrencies, e-wallets, mobile banking, net banking, and others has increased security challenges. Rising occurrences of fraudulent transactions and identity theft have increased the dependency of financial institutions on advanced algorithms powered by AI and predictive analytics.

Region with highest share:

North America is projected to hold the largest market share during the forecast period because of the increasing acceptance of risk-management technologies by enterprises. The majority of the risk analytics vendors have a strong presence in the region leading to the higher adoption of risk analytics solutions in the region. Rising incidences of cyber-attack have been the major factor for increasing concerns of banking and financial firms thereby likely to drive market growth in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the financial and operational resilience, as well as cybersecurity, in addition to regulations because of climate change. The rapid growth of this region is mainly driven by the increasing adoption of technologies, rising investments by companies in real-time analytics, favorable government policies & regulations, and demand for a higher amount of data storage and security.

Key players in the market

Some of the key players profiled in the Risk Analytics Market include Verisk Analytics, SAS Institute, Alteryx, Risk Edge Solutions, Qlik, Provenir, Oracle, AxiomSL, Moody’s Analytics, IBM, Gurucul, FIS, Equarius Risk Analytics, DataFactZ, CubeLogic, BRIDGEi2i, Recorded Future, AcadiaSoft, and SAP.   

Key Developments:

In Jan 2021, Moody’s Analytics launched Moody’s DataHub, a new cloud-based analytical platform that integrates data from across Moody’s, including its affiliates. Moody’s DataHub enables financial and risk decision-makers to explore, analyze and consume a wide range of relevant information seamlessly and efficiently.

In May 2019, IBM collaborated with Thomas Reuters to enable banks to meet ever-increasing regulatory demands through the integration of artificial intelligence (AI) and a real-time regulatory model. IBM and Thomson Reuters Regulatory Intelligence together provide financial firms with exposure to an IBM Cloud-provided RegTech system that provides details on real-time financial markets from thousands of information outlets.
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large enterprises
Components Covered:
• Software
• Solution
• Services
Deployment Modes Covered:
• On-Premises
• On-Demand
• Cloud
Risk Types Covered:
• Strategic Risk
• Portfolio Risk
• Operational Risk
• Financial Risk
• Compliance risks
• Other Risk Types
Applications Covered:
• Industry Benchmarking and Prevention
• Fraud Detection and Prevention
• Credit Risk Management
End Users Covered:
• Transportation and Logistics
• Retail and Consumer Goods
• Manufacturing
• IT and Telecom
• Healthcare and Life Sciences
• Government and Defense
• Energy and Utilities
• Banking, Financial Services, and Insurance (BFSI)
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


Table of Contents

1 Executive Summary             
2 Preface              
 2.1 Abstract             
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology           
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources          
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
3 Market Trend Analysis            
 3.1 Introduction            
 3.2 Drivers             
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats             
 3.6 Application Analysis           
 3.7 End User Analysis            
 3.8 Emerging Markets            
 3.9 Impact of Covid-19            
4 Porters Five Force Analysis            
 4.1 Bargaining power of suppliers           
 4.2 Bargaining power of buyers           
 4.3 Threat of substitutes           
 4.4 Threat of new entrants           
 4.5 Competitive rivalry            
5 Global Risk Analytics Market, By Organization Size          
 5.1 Introduction            
 5.2 Small and Medium-Sized Enterprises (SMEs)         
 5.3 Large enterprises            
6 Global Risk Analytics Market, By Component          
 6.1 Introduction            
 6.2 Software             
  6.2.1 Scorecard and Visualization Tools         
  6.2.2 Risk Calculation Engines          
  6.2.3 Governance, Risk, and Compliance (GRC) Software        
  6.2.4 Extract, Transform, and Load (ETL) Tools         
  6.2.5 Dashboard Analytics and Risk Reporting Tools        
  6.2.6 Other Softwares       Project Risk Management    Operational Risk Management    Liquidity Risk Management    Human Resource Risk Management        
 6.3 Solution             
 6.4 Services             
  6.4.1 Professional Services     Systems Integration     Risk Assessment     Maintenance & Servicing         
  6.4.2 Managed Services      Risk-As-A-Service (RaaS)    Risk Analytics Advisory Services        
7 Global Risk Analytics Market, By Deployment Mode         
 7.1 Introduction            
 7.2 On-Premises            
 7.3 On-Demand            
 7.4 Cloud              
8 Global Risk Analytics Market, By Risk Type          
 8.1 Introduction            
 8.2 Strategic Risk            
 8.3 Portfolio Risk            
 8.4 Operational Risk            
 8.5 Financial Risk            
 8.6 Compliance Risks            
 8.7 Other Risk Types             
  8.7.1 Trading Risk           
  8.7.2 Social and Economic Risk          
  8.7.3 Reputational Risk           
  8.7.4 Environmental Risk           
  8.7.5 Third-Party Risk           
9 Global Risk Analytics Market, By Application          
 9.1 Introduction            
 9.2 Industry Benchmarking and Prevention          
 9.3 Fraud Detection and Prevention          
 9.4 Credit Risk Management           
10 Global Risk Analytics Market, By End User          
 10.1 Introduction            
 10.2 Transportation and Logistics           
 10.3 Retail and Consumer Goods           
 10.4 Manufacturing            
 10.5 IT and Telecom            
 10.6 Healthcare and Life Sciences           
 10.7 Government and Defense           
 10.8 Energy and Utilities            
 10.9 Banking, Financial Services, and Insurance (BFSI)         
 10.10 Other End Users             
  10.10.1 Travel and Hospitality           
  10.10.2 Mining            
  10.10.3 Academia and Research          
  10.10.4 Construction           
  10.10.5 Media and Entertainment          
  10.10.6 Commercial           
11 Global Risk Analytics Market, By Geography           
 11.1 Introduction            
 11.2 North America            
  11.2.1 US            
  11.2.2 Canada            
  11.2.3 Mexico            
 11.3 Europe             
  11.3.1 Germany            
  11.3.2 UK            
  11.3.3 Italy             
  11.3.4 France            
  11.3.5 Spain            
  11.3.6 Rest of Europe           
 11.4 Asia Pacific            
  11.4.1 Japan            
  11.4.2 China            
  11.4.3 India            
  11.4.4 Australia            
  11.4.5 New Zealand           
  11.4.6 South Korea           
  11.4.7 Rest of Asia Pacific           
 11.5 South America            
  11.5.1 Argentina           
  11.5.2 Brazil            
  11.5.3 Chile            
  11.5.4 Rest of South America          
 11.6 Middle East & Africa           
  11.6.1 Saudi Arabia           
  11.6.2 UAE            
  11.6.3 Qatar            
  11.6.4 South Africa           
  11.6.5 Rest of Middle East & Africa          
12 Key Developments             
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 12.2 Acquisitions & Mergers           
 12.3 New Product Launch           
 12.4 Expansions            
 12.5 Other Key Strategies           
13 Company Profiling             
 13.1 Verisk Analytics            
 13.2 SAS Institute            
 13.3 Alteryx              
 13.4 Risk Edge Solutions            
 13.5 Qlik              
 13.6 Provenir             
 13.7 Oracle              
 13.8 AxiomSL             
 13.9 Moody’s Analytics            
 13.10 IBM              
 13.11 Gurucul              
 13.12 FIS             
 13.13 Equarius Risk Analytics           
 13.14 DataFactZ             
 13.15 CubeLogic             
 13.16 BRIDGEi2i             
 13.17 Recorded Future            
 13.18 AcadiaSoft             
 13.19 SAP              
List of Tables              
1 Global Risk Analytics Market Outlook, By Region (2020-2028) ($MN)        
2 Global Risk Analytics Market Outlook, By Organization Size (2020-2028) ($MN)       
3 Global Risk Analytics Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2020-2028) ($MN)    
4 Global Risk Analytics Market Outlook, By Large enterprises (2020-2028) ($MN)       
5 Global Risk Analytics Market Outlook, By Component (2020-2028) ($MN)        
6 Global Risk Analytics Market Outlook, By Software (2020-2028) ($MN)        
7 Global Risk Analytics Market Outlook, By Scorecard and Visualization Tools (2020-2028) ($MN)     
8 Global Risk Analytics Market Outlook, By Risk Calculation Engines (2020-2028) ($MN)      
9 Global Risk Analytics Market Outlook, By Governance, Risk, and Compliance (GRC) Software (2020-2028) ($MN)    
10 Global Risk Analytics Market Outlook, By Extract, Transform, and Load (ETL) Tools (2020-2028) ($MN)     
11 Global Risk Analytics Market Outlook, By Dashboard Analytics and Risk Reporting Tools (2020-2028) ($MN)    
12 Global Risk Analytics Market Outlook, By Other Softwares (2020-2028) ($MN)       
13 Global Risk Analytics Market Outlook, By Solution (2020-2028) ($MN)        
14 Global Risk Analytics Market Outlook, By Services (2020-2028) ($MN)        
15 Global Risk Analytics Market Outlook, By Professional Services (2020-2028) ($MN)       
16 Global Risk Analytics Market Outlook, By Managed Services (2020-2028) ($MN)       
17 Global Risk Analytics Market Outlook, By Deployment Mode (2020-2028) ($MN)       
18 Global Risk Analytics Market Outlook, By On-Premises (2020-2028) ($MN)       
19 Global Risk Analytics Market Outlook, By On-Demand (2020-2028) ($MN)        
20 Global Risk Analytics Market Outlook, By Cloud (2020-2028) ($MN)        
21 Global Risk Analytics Market Outlook, By Risk Type (2020-2028) ($MN)        
22 Global Risk Analytics Market Outlook, By Strategic Risk (2020-2028) ($MN)       
23 Global Risk Analytics Market Outlook, By Portfolio Risk (2020-2028) ($MN)       
24 Global Risk Analytics Market Outlook, By Operational Risk (2020-2028) ($MN)       
25 Global Risk Analytics Market Outlook, By Financial Risk (2020-2028) ($MN)       
26 Global Risk Analytics Market Outlook, By Compliance risks (2020-2028) ($MN)       
27 Global Risk Analytics Market Outlook, By Other Risk Types (2020-2028) ($MN)        
28 Global Risk Analytics Market Outlook, By Trading Risk (2020-2028) ($MN)        
29 Global Risk Analytics Market Outlook, By Social and Economic Risk (2020-2028) ($MN)      
30 Global Risk Analytics Market Outlook, By Reputational Risk (2020-2028) ($MN)       
31 Global Risk Analytics Market Outlook, By Environmental Risk (2020-2028) ($MN)       
32 Global Risk Analytics Market Outlook, By Third-Party Risk (2020-2028) ($MN)       
33 Global Risk Analytics Market Outlook, By Application (2020-2028) ($MN)        
34 Global Risk Analytics Market Outlook, By Industry Benchmarking and Prevention (2020-2028) ($MN)     
35 Global Risk Analytics Market Outlook, By Fraud Detection and Prevention (2020-2028) ($MN)      
36 Global Risk Analytics Market Outlook, By Credit Risk Management (2020-2028) ($MN)      
37 Global Risk Analytics Market Outlook, By End User (2020-2028) ($MN)        
38 Global Risk Analytics Market Outlook, By Transportation and Logistics (2020-2028) ($MN)      
39 Global Risk Analytics Market Outlook, By Retail and Consumer Goods (2020-2028) ($MN)      
40 Global Risk Analytics Market Outlook, By Manufacturing (2020-2028) ($MN)       
41 Global Risk Analytics Market Outlook, By IT and Telecom (2020-2028) ($MN)       
42 Global Risk Analytics Market Outlook, By Healthcare and Life Sciences (2020-2028) ($MN)      
43 Global Risk Analytics Market Outlook, By Government and Defense (2020-2028) ($MN)      
44 Global Risk Analytics Market Outlook, By Energy and Utilities (2020-2028) ($MN)       
45 Global Risk Analytics Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) ($MN)    
46 Global Risk Analytics Market Outlook, By Other End Users (2020-2028) ($MN)       
47 Global Risk Analytics Market Outlook, By Travel and Hospitality (2020-2028) ($MN)       
48 Global Risk Analytics Market Outlook, By Mining (2020-2028) ($MN)        
49 Global Risk Analytics Market Outlook, By Academia and Research (2020-2028) ($MN)      
50 Global Risk Analytics Market Outlook, By Construction (2020-2028) ($MN)       
51 Global Risk Analytics Market Outlook, By Media and Entertainment (2020-2028) ($MN)      
52 Global Risk Analytics Market Outlook, By Commercial (2020-2028) ($MN)        
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above. 


List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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