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Covid-19 scenario: The advent of Covid-19 has significantly impacted the Japan preventive risk analytics industry:
► The cancellation of the Mobile World Congress has hugely affected the market revenue as products and solutions get the biggest exposure at such international shows and companies get a chance to meet new clients and seal new partnerships.
► During this pandemic, organizations in Japan have focused on survival of the company and are reluctant to invest big capital on new business models, hire workforce, and spend additional expense apart from essentials.
By component, the solution segment dominated the market in 2019, accounting for nearly three-fifths of the Japan preventive risk analytics market, owing to rise in popularity of preventive risk analytics solutions in Japan because of increase in the amount of data. However, the service segment is expected to register the highest CAGR of 21.1% during the forecast period, due to surge in deployment of preventive risk analytics tools and solutions, which increased demand for pre- and post-deployment services.
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By deployment mode, the cloud-based segment is expected to manifest the highest CAGR of 20.4% during the forecast period, owing to a paradigm shift in the deployment methods from on-premise to cloud-based models. However, the on-premise segment held the largest share in 2019, contributing to nearly three-fifths of the Japan preventive risk analytics market.
The BFSI segment held the largest share in 2019, accounting for around one-fourth of the Japan preventive risk analytics market, owing to rise in adoption of the solution for identifying and mitigating different types of risks of the organizations. However, the manufacturing segment is projected to portray the fastest CAGR of 24.4% during the forecast period, due to rise in trend of IoT and automation in the manufacturing sector, which has proliferated the amount of unsecured data.
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Major market players:
► IBM Corporation
► Fidelity national information services Inc. (FIS)
► Capgemini
► SAP SE
► Oracle Corporation
► Verisk analytics Inc.
► SAS Institute Inc.
► AXIOMSL, Inc.
► Recorded future, Inc.
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