According to a new report, published by KBV research, The Global Risk Analytics Market size is expected to reach $96.82 billion by 2031, rising at a market growth of 12.5% CAGR during the forecast period.
The Software segment is leading the Global Risk Analytics Market by Type in 2023; thereby, achieving a market value of $59.8 billion by 2031. This can be attributed to the growing adoption of software solutions that provide advanced analytics, predictive modeling, and reporting capabilities. These software tools are critical for organizations to effectively assess, manage, and mitigate risks. They offer flexibility and scalability companies need to navigate the complexities of risk management in dynamic business environments. As businesses increasingly recognize the value of data-driven insights in identifying potential risks and optimizing decision-making processes, the software segment continues to thrive, particularly in the finance, healthcare, and insurance industries.
The Cloud segment is anticipating a CAGR of 13.1% during (2024 - 2031). Cloud-based risk analytics solutions offer several advantages, including scalability, flexibility, and lower upfront costs, making them attractive to small and medium-sized enterprises (SMEs) and large organizations looking for more cost-efficient solutions. Accessing risk analytics tools remotely and collaborating across multiple locations has made cloud deployments increasingly popular. Furthermore, the growing trend toward digital transformation and the increasing adoption of cloud technologies in various industries are driving the expansion of the cloud segment in the market.
The Operational Risk segment is generating the maximum revenue in the Global Risk Analytics Market by Risk Types in 2023; thereby, achieving a market value of $31.59 billion by 2031. Operational risks are associated with failures in internal processes, systems, human errors, or external events that impact an organization’s ability to achieve its objectives. As businesses face growing challenges such as cyber threats, supply chain disruptions, and technological failures, robust operational risk management strategies have become more critical. This has led to a significant demand for risk analytics solutions that can help organizations identify, assess, and mitigate operational risks effectively, ensuring continuity and efficiency in their operations.
The Telecom & IT segment is registering a CAGR of 11.1% during (2024 - 2031). With the rapid growth of digital infrastructure and the increasing reliance on technology, telecom and IT companies face many risks, including cyber threats, data breaches, network failures, and compliance challenges. Risk analytics tools help these companies proactively monitor and manage risks, ensuring the security and stability of their services. The increasing need for advanced cybersecurity solutions and the growing volume of data handled by telecom and IT firms have driven the demand for risk analytics solutions in this sector.
Full Report: https://www.kbvresearch.com/risk-analytics-market/
The North America region dominated the Global Risk Analytics Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $34.8 billion by 2031. The Europe region is experiencing a CAGR of 12.3% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 13.4% during (2024 - 2031).
By Type
By Deployment
By Risk Types
By Vertical
Unique Offerings 
