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The LAMEA Risk Analytics Market Size is estimated to witness a growth of 19.7% CAGR during the forecast period (2017-2023).
Risk analytics (or risk analysis) is the study that is used in identifying underlying uncertainty in a given course of action. The technique is used in parallel with professionals to curtail negative and unforeseen effects in the future. Risk analytics comprises activities such as tracking uncertainty of future cash flows streams, deviance of portfoliostock and its anticipated returns, statistical analysis to identify the probability of success or failure of a project, and probable economic states which would emerge in the future. The insurance industry would be the largest market during the forecast period. The technology of risk analytics significantly contributes to the betterment of insurance sector by allowing the sector to efficiently utilize the prevailing data across the value chain. With efficiency, the sector would register significant rise in profitability. Risk analytics could be efficiently used in various cross functions in the insurance sectors such as in claim settlement, identifying the right claim to focus on, reducing the time otherwise needed in the process, and identifying suspicious participants.
Based on Type, the market is segmented into the Risk Analytics market is segmented into Software and Services. The Software market is further segmented into Extract, Transform & Load Tools, Scorecard & Visualization Tools, Risk Calculation Engines, Dashboard Analytics & Risk Reporting Tools, Governance, Risk & Compliance, and Others. Based on Risk Type, the market is segmented into Financial Risk, Operational Risk, Strategic Risk, and Others. Based on Deployment Type, the market is segmented into Cloud and On-Premise. The verticals covered under the report include BSFI, Government, Risk Type, Healthcare, Manufacturing, Retail, Telecom & IT, Transportation & Logistics, and Others. Based on Country, Risk Analytics market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and Rest of Latin America, Middle East & Africa (LAMEA). Brazil remained the dominant Country in the Latin America, Middle East and Africa Risk Analytics market in 2016. UAE and Saudi Arabia would witness promising CAGR during the forecast period (2017-2023). The report covers the analysis of key stake holders of the Risk Analytics market.
Key companies profiled in the report include International Business Machines Corporation (IBM), Oracle Corporation, SAP SE, SAS Institute, Inc., Fidelity National Information Services Inc., Moody?s Corporation, Verisk Analytics, Inc., and Axiomsl, Inc.