(PRWEB) August 12, 2014
According to new research report "Risk Analytics Market by Solution (Risk Calculation Engines, Scoreboards and Visualization, GRC), Application (Fraud Detection and Prevention, Liquidity Risk Analysis, Real Time Situational Awareness) - Worldwide Market Forecast (2014 - 2019)" by MarketsandMarkets, defines and segments the Risk Analytics Market into various sub-segments with an in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with the insights on trends, opportunities, and challenges.
Browse 66 market tables and 15 figures spread through 190 pages on "Risk Analytics Market".
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Risk factor in business data, competitive and regulatory pressures, increased levels of complexity and volatility, and risk and compliance management are driving the demand for risk analytics solution and service. Risk analytics solutions enable the world’s most successful companies to make risk-aware decisions through smarter enterprise risk management programs and methodologies - driving business performance and better outcomes.
The risk analytics market consists of various types of solution such as extract, transform and load, risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting, governance risk and compliance and others. These tools help to analyze business data and derive valuable insights. The major suppliers in this field include Oracle, SAP, IBM, SAS, Mu Sigma, Moody’s Analytics, Teradata, Angoss and Finanalytica.
Risk analytics analyzes business data to open up new and cost of effective ways for companies to extract business and competitor intelligence. Integrated risk management solutions help organizations increase transparency and collaboration across business units and uncover opportunities for improving overall business performance.
In the coming future, risk analytics is expected to be considered as one of the major elements across organizations. Most of the enterprises have increased their investment in risk analytics technology and recognized that it is the top priority for the investment. Governance, Risk and Compliance (GRC) solutions enable companies to increase business performance and manage risk, apply the appropriate governance, and meet regulatory compliance challenges across the enterprise.
In terms of vertical, banking sector accounts for the largest market share in the overall risk analytics market in 2014. In the long term as well banking is expected to have the largest market share by 2019. The government and healthcare segments are growing with the highest Compound Annual Growth Rate (CAGR) as compared to other verticals. Manufacturing, consumer goods and retail, and telecommunication and IT are the other emerging verticals for the risk analytics market.
The key industry players are solidifying their presence in the risk analytics market through Mergers and Acquisitions (M&A), new start-ups, and new product developments. A few M&A are: IBM acquired a risk analytics company ‘Algorithmics’ to expand its business in the analytics field. This will help IBM to serve the clients in a better way by providing a wide range of business analytics software solutions mainly to the banks, financial institutions and insurance companies.
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