Risk Analytics Market: Key Trends & Growth Insights | 2024 To 2033 Key Players International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, FIS Inc.

"The Business Research Company recently released a comprehensive report on the Global Risk Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The risk analytics market size has grown rapidly in recent years. It will grow from $33.44 billion in 2023 to $37.94 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to business continuity planning, operational efficiency and cost reduction, supply chain risks, financial market volatility, operational risk management..

The risk analytics market size is expected to see rapid growth in the next few years. It will grow to $63.04 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing demand for real-time analytics, integration with business intelligence, industry-specific risk management needs, focus on operational resilience, cybersecurity concerns.. Major trends in the forecast period include integration of advanced technologies, increased focus on cybersecurity analytics, predictive analytics for risk prevention, focus on cloud-based solutions, supply chain risk management..

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Market Drivers and Trends:

The increasing use of large amounts of structured and unstructured data will propel the growth of the risk analytics market. Structured data refers to information that is usually stored in a relational database and can be easily mapped into designated fields. Unstructured data is information that is not organized according to a pre-determined data model or schema and hence cannot be kept in a standard relational database. Unstructured data accounts for 80 to 90% of data generated and gathered by businesses, and its volume is continuously increasing faster than that of structured databases. Businesses are increasingly using these large amounts of structured and unstructured data for predictive analysis, risk analysis, forecasting, and others. This increasing usage will create demand for risk analytics as well as risk analytics uses large amounts of structured/unstructured data to predict the risk with a large degree of accuracy. For instance, according to a report by an American data storage company Seagate Technology PLC, the global data will increase by 61% to 175 zettabytes (ZB) by 2025 from 33 ZB in 2018. 90 ZB of data will be created on IoT devices by 2025. Close to 30% of the data created will be consumed in real-time by 2025. It indicates that there is a huge amount of data that needs to be stored, handled, and used/analyzed. Therefore, the rising usage of a large amount of structured and unstructured data will drive the risk analytics market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, FIS Inc., Accennture PLC., ACI Worldwide Inc., Adyen N. V., Aon plc, Authorize. Net, AxiomSL Ltd., BlueSnap, Braintree, Capgemini SE, Eastnets, Experian Health, First Data Corporation, Fiserv Inc., Ingenico Group, Interkassa, Marsh & McLennan Companies Inc., Moody's Analytics Inc., OneSpan Inc., PayPal Holdings Inc., RSA Security LLC, Square Inc., Stripe Inc., VeriFone Inc., Verisk Analytics Inc., Worldpay Inc.

Risk Analytics Market 2024 Key Insights:

• The risk analytics market size is expected to see rapid growth in the next few years. It will grow to $63.04 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%.
• Increasing Use Of Large Amounts Of Structured And Unstructured Data To Drive The Market
• Technological Advancement Transforms The Market
• North America was the largest region in the risk analytics market in 2023

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