USD 8.9 billion
AI For Risk Management Market Size, Share, Growth Analysis, By Technology(Hardware, software, Services), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2059 |
Region:
Global |
Published Date: July, 2024
Pages:
257
|Tables:
36
|Figures:
67
AI For Risk Management Market Insights
AI For Risk Management Market size was valued at USD 8.9 billion in 2019 and is poised to grow from USD 11.36 billion in 2023 to USD 68.5 billion by 2031, at a CAGR of 11.3% during the forecast period (2024-2031)
AI For Risk Managements are becoming popular since It has many applications such as ideation, data sourcing, model development, monitoring.AI in risk management primarily will help in identifying organizations regulatory and reputational risk.Based on current frameworks and companies organizational values, it will conduct risk assessment and use it to determine the data,company needs to collect and process.It is vital to choose the right sets of data that will influence the quality of result. That can be decided based on the previous risk management, which is suitable for AI model processing.
It will help in threat analysis and management, risk reduction, fraud detection and data classification.Mil engines can be particularly used to analyse large amounts of data from various sources that can generate real time prediction models that allow risk managers and security teams to address risk well in time.Along with providing the ability to evaluate unstructured data about risky behaviors in organizational operations, AI can also help with its algorithms to identify patterns of behavior related to past incidents and transpose them as risk predictors.However, processing huge amounts of data and enabling specialized AI services would be costlier. That will affect the growth of industry.Along with higher investment, data privacy and data protection are major concerns for the growth of the market. Therefore, encryption, transit, security, mechanization, obfuscation may be required for data companies that upload to the cloud service.
US AI For Risk Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Machine Learning
Fastest Growth
Machine Learning
Growth Rate
11.3% CAGR
Global AI For Risk Management Market ($ Bn)
Country Share for North America Region (%)
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AI For Risk Management Market Segmental Analysis
Global AI For Risk Management market is segmented on the basis of offerings, vertical, By technology,and region. By Vertical, the market is segmented into BFSI, Retail, Government & Defense, Manufacturing, Enterprise, Healthcare, Automotive & Transportation, Others. By technology, the market is segmented into Machine Learning, Natural Language Processing, Context-aware computing. By offerings, the market is segmented into Hardware, services and Software. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
AI For Risk Management Market Analysis by Vertical
By Vertical, the global market is divided into many segments such as BFSI, Retail, Government & Defense, Manufacturing, Enterprise, Healthcare, Automotive & Transportation, Others. Enterprise segment held the largest global AI For Risk Management market share due to the wide range of benefits provided by AI in enterprise Risk Management.Along with Enterprise, AI has various amounts of benefits for all the industry verticals in risk management systems. In the BFSI sector , AI will enhance risk management to limit data links, thwart cyber attacks and enhance security.
AI For Risk Management Market Analysis by Technology
By Technology, the AI For Risk Management market is classified into Machine Learning, Natural Language Processing, Context-aware computing and others. The Machine Learning segment is one of the main reasons for innovation and growth across all technology industries in the AI risk management global market. It is considered a game-changer in Risk management.The rapid adoption of deep learning throughout the End use sector, there will be significant rise in machine learning technology.Machine learning platforms are gaining popularity as a tool to automate monitoring, spot outliers and sort through the massive amounts of data produced by security technology.Along with major businesses around the world are utilizing deep learning and machine learning ability to improve risk management protocol.
Global AI For Risk Management Market By Technology
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AI For Risk Management Market Regional Insights
Globally, North America is estimated to hold the highest global AI For Risk Management market share . Main factors during this growth period is the presence of top market players such as NVIDIA, Microsoft and others.
Among all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of AI In Risk Management technology in bigger organizations in the region of Asia Pacific and mainly in China and Japan. Penetration of Data threats & cyberattacks in Asia Pacific has doubled in the last few years. In addition, bigger organizations and startups are investing heavily in order to provide high data security services at an affordable price to the consumers, which is likely to boost the demand for AI In Risk management in the region.
Global AI For Risk Management Market By Region
- Largest
- Fastest
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AI For Risk Management Market Dynamics
AI For Risk Management Market Drivers
Swift Solutions to Bolster Market Growth
- One of the vital aspects that provides information on attacker sources, indicator of compromise, behavioral trends related to cloud account use, and attack against various types of cloud service is threat intelligence data.Machine learning can be used to aggregate the feeds of threat intelligence and analyze it at scale.Along with it, it is also processed for likelihood and predictability models.
AI For Risk Management Market Restraints
High Privacy Concerns to Hinder Market Growth
- For various startups and new industries entering into this market, enabling specialized AI service will be highly expensive if even if they use cloud native services, processing huge amounts of data may be costly.Along with higher investments, data privacy and data protections are major concerns with AI and machine intelligence.
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AI For Risk Management Market Competitive Landscape
Competition in the global AI For Risk Management market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of Softwares and services compatible with AI For Risk Management will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
AI For Risk Management Market Top Player’s Company Profiles
- Smart bridge
- Protecht
- Yodel Services
- MetricStream
- Navex Global
- Origami Risk
- RMS
- Deltek
- Congruity360
- Enablon
AI For Risk Management Market Recent Developments
- In October 2022,Sphera, a leading global provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services, has completed its planned acquisition of riskmethods, a Munich, Germany-based software company that specializes in supply chain risk management (SCRM). This acquisition supports Sphera's continued innovation and expansion in the ESG solutions space.riskmethods' software as a service (SaaS) solution uses artificial intelligence (AI), big data and machine learning to identify, analyze and help mitigate all types of supply chain risk, including monitoring sustainability practices and ESG compliance in the supply chain.
AI For Risk Management Key Market Trends
- One of the trending areas that is being used for total risk management solutions is blockchain. It provides a secure way of storing data and tracking transactions. This means that it can be used to track risks and to ensure that they are being managed properly. Along with development of blockchain in risk management solutions, there is increased focus on ethics in risk management because there are ethical implications associated with the use of AI, such as potential for bias.
AI For Risk Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global AI For Risk Management market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as safety from data threats , privacy risk . AI For Risk Managements will enable Software and services to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.9 billion |
| Market size value in 2031 | USD 68.5 billion |
| Growth Rate | 11.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on AI For Risk Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on AI For Risk Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the AI For Risk Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the AI For Risk Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the AI For Risk Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the AI For Risk Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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