Risk Analytics Market Growth Accelerates: Strategic Forecast Predicts $73 Billion by 2029

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What Will the Risk Analytics Industry Market Size Be by 2025?
In recent years, there has been a significant expansion in the size of the risk analytics market. It is projected to increase from $37.12 billion in 2024 to $41.67 billion in 2025, with a compound annual growth rate (CAGR) of 12.3%. Factors like business continuity planning, operational efficiency and cost reduction, supply chain risks, financial market instability, and operational risk management have contributed to this historic growth.

What's the Long-Term Growth Forecast for the Risk Analytics Market Size Through 2029?
In the coming years, the risk analytics market is anticipated to experience swift expansion, reaching a value of $73 billion by 2029 with a compound annual growth rate (CAGR) of 15.0%. The rise during the forecast period is attributable to factors like the growing requirement for real-time analytics, incorporation with business intelligence, and specific risk management needs in different sectors. Other factors include the emphasis on operational resilience and concerns about cybersecurity. Foreseen trends in this period include the incorporation of advanced technologies, an amplified focus on cybersecurity analytics, predictive analytics for risk deterrence, emphasis on cloud-based solutions and managing supply chain risk.

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What Are the Key Growth Drivers Fueling the Risk Analytics Market Expansion?
The surge in the application of copious amounts of both structured and unstructured data is expected to fuel the expansion of the risk analytics market. Structured data is normally stored in a relational database and can be effortlessly mapped into assigned fields. Conversely, unstructured data lacks organization according to a preset data model or schema, making it unfit for a standard relational database. Unstructured data makes up 80 to 90% of the data businesses accumulate, growing at a faster rate than its structured counterparts. Businesses are utilizing these vast volumes of structured and unstructured data for predictions, risk assessments, forecasting and other purposes, sparking the demand for risk analytics, as it employs substantial amounts of these data types to predict risk with impressive accuracy. For example, a report from the US-based data storage entity, Seagate Technology PLC, predicts a 61% rise in global data to 175 zettabytes (ZB) by 2025, up from 33 ZB in 2018. IoT devices are expected to generate 90 ZB of data By 2025, with nearly 30% of this data being consumed in real-time. This suggests a massive need for data storage, handling, and analysis. Consequently, the escalation in the usage of copious volumes of structured and unstructured data will act as a catalyst for the growth of the risk analytics market.

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What Are the Key Trends Driving Risk Analytics Market Growth?
The progression of technology is a prominent trend emerging in the risk analytics market. Risk analytics employ artificial intelligence (AI) and machine learning (ML) technologies to process immense amounts of data, reducing error, eliminating bias and indicating areas where risk managers should concentrate more closely. Firms are leveraging AI to enhance their understanding of risk portfolios and yield optimal outcomes. AI-driven risk analytics software is user-friendly and provides precise results. For instance, in March 2022, NICE Actimize, an American software firm, launched its innovative and improved solution, X-Sight Entity Risk SaaS solution. This would deliver a singular risk score to aid financial institutions in better comprehending their clients organization-wide. X-Sight Entity Risk, fortified by artificial intelligence, entity resolution, machine learning, and network analytics, bolsters the effectiveness of advanced anti-money laundering, enterprise fraud prevention, and other financial services applications.

How Is the Risk Analytics Market Segmented?
The risk analytics market covered in this report is segmented -

1) By Risk Type Application: Financial Risks, Operational Risks, Compliance Risks, Strategic Risks, Other Risk Type Applications
2) By Component: Solution, Services
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMES)
4) By Deployment Mode: On-Premises, Cloud
5) By Vertical: BFSI, Manufacturing, Transportation, Retail, IT And Telecommunication, Healthcare, Government

Subsegments:
1) By Financial Risks: Credit Risk, market Risk, Liquidity Risk, Interest Rate Risk
2) By Operational Risks: Process Risks, System Risks, Fraud Risks, External Events
3) By Compliance Risks: Regulatory Risks, Legal Risks, Reporting Risks
4) By Strategic Risks: Competitive Risks, market Entry Risks, Technology Risks
5) By Other Risk Type Applications: Reputational Risks, Environmental Risks, Geopolitical Risks

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Which Companies Are Leading the Charge in Risk Analytics Market Innovation?
Major companies operating in the risk analytics market include International Business Machines Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, FIS Inc., accenture* 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.

Which Regions Are Leading the Global Risk Analytics Market in Revenue?
North America was the largest region in the risk analytics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the risk analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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