Japan Preventive Risk Analytics Market Expected to Reach $ 4,540.95 million by 2026

According to a recent report published by Allied Market Research, titled, “Japan Preventive Risk Analytics Market by Component,Type, Deployment Model, User Type, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027,”the Japan preventive risk analytics market size was valued at $1,170.63 million in 2019, and is projected to reach $4,540.95 million by 2027, growing at a CAGR of 18.5% from 2020to 2027.

Preventive risk analytics are used by an organization to efficiently and effectively manage different types of risks. The primary goal of preventive risk analytics is to identify potential risks before theiroccurrence so that proper risk handling measures can be taken across the organizations. Numerous benefits offered by risk analytics, such as efficient business decisions, realistic expectations, escalations, and focus on risk, are the lucrative factors that boost the market growth. 

Furthermore, surge in data security breaches in enterprise and increase in government regulatory compliances are some of the major factors, which are expected to drive the Japan preventive risk analytics market growth. In addition, rise in adoption of risk analytics in financial institutions and growth in IoT landscape further fuels the growth of the market. However, high cost and complexity in installation, configuration of the software, and less security provided by the risk analytics hamper the growth of the market in Japan. Furthermore, integration of artificial intelligence in risk analytics is expected to provide major opportunities for the growth of the risk analytics market during the forecast period.

The operational risks segment dominated the Japan preventive risk analytics marketshare in 2018 and is projected to maintain its dominance during the forecast period, owing to the need to streamline the process of operational risk management across different industry verticals.Furthermore, the compliance risks segment is expected to grow at a significant CAGR during the forecast period, owing toincrease in cost of money laundering fine,which is the major factor driving the adoption of compliance management solutions.

The BFSI sector dominated the Japan preventive risk analytics market in 2019 and is projected to maintain its dominance during the forecast period, owing to rise in adoption of the solution for identifying and mitigating different types of risksfor the organizations. Also, rise in need to minimize the risk associated with governance & compliance requirements as well as to obtain a unified view of risk across the organizations is creating numerous opportunities in the Japan preventive risk analytics market analysis. Furthermore, the manufacturing sector is expected to grow at a significant CAGR in the upcoming years. The growth of the industry is attributed torise in trend of IoT and automation in the manufacturing sector, which has proliferated the amount of unsecured data, which is expected to create numerous opportunities for the Japan preventive risk analytics market during the forecast period.

Key Findings of The Study

• By component, the solution segment led the Japan preventive risk analytics market in terms of revenue in 2019.However, the service segment is expected to grow at a highest CAGR in the upcoming years.
• By type, the operational risk segment led the market in terms of revenue in 2019. However, the compliance risk segment is expected to grow at a highest CAGR in the upcoming years.
• By deployment model, the on-premise segment accounted for the highest Japan preventive risk analytics market share in 2019. However, the cloud-based segment is expected to grow at a highest CAGR in the upcoming years.
• By user type, the large enterprise segment accounted for the highest share of Japan preventive risk analytics industry in 2019. 
• By industry vertical, the BFSIsegmented accounted for the highest market share in 2019. However, the manufacturing segment is expected to grow at a highest CAGR in the upcoming years. 

The key players profiled in the studyare IBM Corporation, Accenture PLC, Capgemini, Fidelity national information services Inc. (FIS), Oracle Corporation, SAP SE, SAS Institute Inc., Verisk analytics Inc., Recorded future, Inc., and AXIOMSL, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the Japan preventive risk analytics market.