Product ID: SQMIG45E2129
Report ID:
SQMIG45E2129 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
60 |
Figures:
77
Global Risk Analytics Market size was valued at USD 43.45 billion in 2022 and is poised to grow from USD 53.10 billion in 2023 to USD 264.02 billion by 2031, at a CAGR of 22.2% during the forecast period (2024-2031).
A unified platform that makes it easier for risk managers and businesses to analyse, compute, forecast, and mitigate risk is the main factor driving the global market. Additionally, it is anticipated that there will be a lot of chances for software developers due to the rising demand from emerging economies and the integration of artificial intelligence (AI) into these analytics. Several vendors in the market are concentrating on offering AI-integrated solutions that aid organisations in addressing new dangers. Large volumes of structured and unstructured data are now being used more frequently across a range of end-user sectors, which increases the need for risk analytics to manage and protect data from threats. For instance, Seagate Technology PLC estimates that by 2020 and 2025, respectively, the total amount of data in the world would reach 47 and 163 zettabytes. The capital markets, banking, and insurance sectors are anticipated to spend USD 96 billion on risk information technologies and services, according to the Global Association of Risk Professionals. The demand for risk mitigation to manage and protect data from threats is rising as enormous volumes of organised and unstructured data are quickly adopted by many industries. The firms are moving towards a comprehensive approach to risk governance and the deployment of integrated strategies that enable improved regulatory reporting and keep them ahead of the competition.
US Risk Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG45E2129