Market Highlights
The Risk Analytics market is growing pervasively mainly due to the proliferation of massive amount of data that is being exposed to various hazards such as data theft among others. Risk analytics, by assessing the uncertainties helps in avoiding vulnerabilities of data forging, system failures and anything that could obstruct business operations.
Risk Analytics provides clear visibility towards the challenges and uncertainties associated with a particular process. Risk calculation tools and engines help in predicting risks and avoid future costs of handling the hazards mentioned above which are escalating the market on the global level garnering a tremendous amount of popularity.
Acknowledging the prominence and value this market is garnering currently and the growth prospect the market is demonstrating worldwide, Market Research Future (MRFR) in its recently published study report asserts that the global Risk Analytics market will reach USD 42 Bn. by 2023, registering a CAGR of 14% throughout the review period (2017-2023).
Banking and insurance industry comprising a significant amount of sensitive data is more at risk and hence, need the risk assessment and risk control tools that can identify fraudulent activities immediately without wasting time. Therefore, the BFSI segment accounts for one of the key forces driving the market growth with a huge demand for Risk Analytics.
Additional factors substantiating the market growth include features of Risk Analytics like scalability and cost optimization. The proliferation of cloud technology fetches many benefits allowing businesses with wide accessibility to insights of Big Data.
Moreover, factors propelling the risk analytics market growth include the increasing industrialization and the improving economic conditions.
On the other hand, Risk Analytics being in its embryonic stage still presents the challenges such as lack of universally accepted standards and current cloud infrastructures. Also, the initial investment required for the implementation of Risk Analytics acts as a hurdle to the market growth.
Segmentation:
For enhanced understanding the report has segmented into four key dynamics;
By Components: Software (Extract, Transform and Load Tools, Dashboard Analytics and Risk Reporting Tools, and Scorecard, Visualization Tools, Risk Calculation Engines, and GRC Software among others.) and Services (Professional Services, Managed Services), others.
By Deployments: On-Cloud and On-Premise, among others.
By Verticals: BFSI, Healthcare, Transportation, Manufacturing, Retail, and Government among others.
By Region: North America, Europe, APAC and the Rest-of-the-World.
The sub-segment – BFSI, by vertical segmentation is growing at a faster rate as compared to others owing to the capacity of risks involved in the BFSI sector.
Regional Analysis:
Globally, the North American region accounts for the leading market for the Risk Analytics. Advancements in technologies and market proliferation of portable connected devices such as mobiles and tablets are some of the prevailing trends which are expected to support the market growth to retain its dominance over the global Risk Analytics market throughout the forecast period.
Presence of well-established infrastructures alongside the presence of key players in the region acts as a key driving force, allowing the favorable environment for developments in technologies. The market is estimated to witness a higher adoption of Risk Analytics tools owing to the government’s efforts to push the markets for cloud technologies.
The Asia Pacific region is projected to grow at the fastest rate during the forecast period, emerging as a promising market for Risk Analytics. Increasing number of businesses in some of the countries such as India, China, Japan, and Korea substantiate the market growth, augmenting the demand for deployment of Risk Analytics technologies. Simultaneously, massive demand for the advanced analytics solutions that can provide comprehensive support and real-time access to data increases the market size, facilitating enterprises to comprehend business scenarios.
The Indian government is promoting Digital India Program with a vision to transform the nation into a digitally empowered economy which in turn, will pose India as a prominent market of Risk Analytics. Companies operating in the APAC region will benefit from the flexible policies of the government as well as the expanding digital market that will have a significant impact on the business community.
Risk Analytics Market – Competitive Analysis
The Risk Analytics market is fiercely competitive with the presence of several large and small players operating in the market. Growth in terms of product innovations and technologies in the market are also expected to create strong investment opportunities for the global players.
Key Players:
Some of the eminent players leading the market include IBM Corporation (US), SAP SE (Germany), Moody's Analytics, Inc. (US), Oracle Corporation (US), SAS Institute Inc. (US), Verisk Analytics, Inc. (US), Misys (UK), Risk Edge Solutions (India), Provenir, Inc. (US), AxiomSL (US), and Gurucul (US).
Industry/ Innovation/ Related News:
September 11, 2018 - MSCI Inc. (US), a leading provider of research-based indexes, ratings, and analytics, announced the next step toward advancing ESG integration into the investment management process by delivering ESG solutions across its suite of risk and portfolio analytics systems.
August 24, 2018 – EY (India), a global professional services organization, announced its plans to roll out SPECTRA - a bespoke Risk Analytics platform to three high-priority sectors namely, Retail and Consumer Products, Financial Services, and Life Sciences.
The Global Calcium Formate Market size is set to touch USD 627.1 million by 2026, registering a CAGR of 4.2% during the forecast period, the market was valued at USD 451.2 Million in 2018.Rapid expansion of construction industry around the globe will be the primary driving force behind the growth of this market.
According to a study published by Oxford Economics, the global construction industry is expected to grow at about 3.9% annually till 2030, with majority of this growth slated to occur in the three major economies of the US, China, and India, accounting for nearly 57% of the growth.
Furthermore, the study reveals that output from construction will increase by a staggering 85% in the next decade at a value of around USD 15.5 trillion by 2030.
Calcium formate is an integral component in the production of concrete and cement-based products.
Thus, with the expected rise in construction activities around the world, the demand for the compound will rise correspondingly.According to the Fortune Business Insights report, titled “Calcium Formate Market Size, Share & Industry Analysis, By Type (Feed Grade, Industrial Grade), By Application (Feed, Construction, Leather, Chemical, and Others), and Regional Forecast, 2019-2026”.The report also contains an in-depth analysis and evaluation of the factors, trends, and dynamics that will influence the market in the forecast period.
Besides this, it provides a thorough research based on which businesses can formulate their strategies to excel in this market.List of Best Companies Operating in the Calcium Formate Market are;LANXESSPerstorpChongqing Chuandong Chemical (Group) Co., Ltd.American ElementsGEO Specialty ChemicalsHenan Botai Chemical Building Materials Company Ltd.Zibo Ruibao Chemical Co., Ltd.Shandong Baoyuan Chemical Co.,LtdJiangxi Kosin Organic ChemicalSidley Chemical Co.,Ltd To gain more insights into the market, click here:https://www.fortunebusinessinsights.com/industry-reports/calcium-formate-market-101683Asia-Pacific to Hold a Commanding Position in the Market; Europe to Grow HealthilyAsia-Pacific is projected to dominate the Calcium Formate Market share owing to the explosion of construction activities in China and India and a flourishing cement and steel industry in Japan.
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