On the basis of the component, the risk analytics market is subdivided into software and services. Of both the categories, the services market is anticipated to witness the higher growth during the forecast period as different companies are outsourcing the risk management and analysis to third party vendors.

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The primary factor that is aiding the growth of global risk analytics market includes the rising need for risk management across several industries. The business organizations are increasingly making investments to harness their massive and rapidly increased quantities of data and information. The companies are putting their existing data to work that was previously trapped in functional silos and multiple business units. The companies are increasingly working on new types of data that they are observing from wide ranges of external sources.

Risk analytics tools are helping the business organizations to attain and make decisions after becoming aware of the specific risks pertaining to a particular task. This creates a growth opportunity for the vendors providing risk analytics solutions.

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North America is the largest risk analytics market. The demand for this technology is increasing in this region due to robust infrastructure, technological advancements, and the presence of key players and large enterprises in this region.

Some of the key players operating in the risk analytics industry include Fidelity National Information Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Moody’s Corporation, Verisk Analytics, Inc., Axiomsl, Inc., Gurucul, Provenir and Risk Edge Solutions.

Source: VynZ Research