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2020

Japan Preventive Risk Analytics Market

Japan Preventive Risk Analytics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component ,Type, Deployment Model, User Type and Industry Vertical : Opportunity Analysis and Industry Forecast, 2020-2027

IC : Software and Services

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Author's: Rachita Rake | Onkar Sumant
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Preventive Risk Analytics Market Statistics in Japan - 2027

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 2019 to 2026.Preventive risk analytics is atype of software used by organizations to efficiently and effectively manage different types of risks. This software is known for its different capabilities such as identifying as well as managing different types of risk and for taking measures to avoid potential crisis. The rise in various cyber-attacks, fraudulent attacks, and data theft indifferent businesses due to ongoing trend of digitization are the major factors that drive the growth of the Japan preventive risk analytics market.
 
The solution segment dominates the Japan preventive risk analytics market share in 2019 and is projected to maintain its dominance during the forecast period. The growth of the segment is attributed to rise in popularity of preventive risk analytics solutions in Japan due to increase in amount of data that is exposed. These solutions provide clear visibility regarding the challenges as well as uncertainties about a particular process. Also, it helps by assessing these uncertainties and avoiding system failure and anything that can hamper the daily business operations. However, theservice segmentis expected to attain significant growth in the upcoming years, owing to increase in deployment of preventive risk analytics tools and solutions, which is resulting in increased demand for pre and post-deployment services. 

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The on-premise segment dominatedthe Japan preventive risk analytics market size in 2019 and is projected to maintain its dominance during the forecast period. However, cloud-based solutions are expected to attain significant market growth in the upcoming years, owing to a paradigm shift in the deployment methods from on-premise to cloud-based models. Cloud-based risk analytics solutions do not involve capital cost as well as are low on maintenance requirements, and hence, can be preferred by mid-sized institutions. These solutions facilitate enterprises to havesuperior control over access to applications and sensitive information from distant locations, which further fuel its adoption among the end users. 

Japan Preventive Risk Analytics Market
By Component
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Solution is projected as one of the most lucrative segments.

The report focuses on the growth prospects, restraints, and trends of the Japan preventive risk analytics market. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on themarket in Japan.

Japan Preventive Risk Analytics Market
By Deployment Mode
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Compliance risk is projected as one of the most significant segments.

Segment review

The Japan preventive risk analytics market is segmented on the basis of component, deployment mode, organization size, type, industry vertical, and region. In terms of component, it is bifurcated into solution and services. In terms of deployment mode, the market is divided into on-premise and cloud. As per organization size, it is bifurcated into large enterprises and small & medium enterprises. In terms of type, the market is categorized into strategic risks, financial risks, operational risks and compliance risks. Based on industry vertical, it is classified into BFSI, IT& telecom, retail, healthcare, energy & utilities, manufacturing, government & defense, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Japan Preventive Risk Analytics Market
By Deployment Model
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Cloud-based segment is projected as one of the most significant segments in the forecasted period.

The report analyses the profiles of key players operating in the market include 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 industry.

Japan Preventive Risk Analytics Market
By User Type
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Small and medium size enterprises are projected as one of the most significant segments.

Top impacting factors

Rise in adoption of risk analytics among financial institutions

Risk analytics has become increasingly important in financial and banking institutions due to increase in frauds, money laundering, and terrorist activities. Furthermore, the adoption of risk analytics in financial institutions helps them improve awareness, strengthen know your employee (KYE) through technological intervention, and facilitate monitoring & surveillance of transactions. Thus, the adoption of preventive risk analytics solution is increasing among the banks and financial institutionsdue to its numerous benefits. For instance, Mizuho Bank partnered with IBM Japan in August 2017 to obtain more advanced and efficient risk management.

Japan Preventive Risk Analytics Market
By Industry Vertical
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Manufacturing industry is projected as one of the most significant segments.

Rise in innovations in the Fintech industry in Japan

Japan is experiencing a Fintech boom and the investment in Fintech companies in the country has increased significantly since the past few years and is expected to witness significant growth in the upcoming years. Megabanks and other financial institutions in Japan are on the move toward collaborating with and funding Fintech startups. Also, many startup accelerators’ programs have been run by private companies to support Fintech startups, which is opportunistic for the market.Though the number of Fintech companies in the country is still small from an international perspective, number of Fintech venture companies in Japan is on the rise and have been delivering new financial products and services, by combining various information technologies such as cloud-computing, Artificial Intelligence (AI), big data analytics, blockchain, biometric authentication, open APIs or application programming interfaces, and others.

Key benefits for stakeholders 

  • The study provides an in-depth analysis of the Japan preventiverisk analytics market along with the current & future market trends to elucidate the imminent investment pockets.
  • Information about key drivers, restrains, and Japan preventive risk analytics market opportunityand their impact analysis on the market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the Japan preventiverisk analytics market from 2019 to 2026 is provided to determine the market potential.

Japan Preventive Risk Analytics Market Report Highlights

Aspects Details
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By Component
  • Solution
  • Service
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By Type
  • Strategic risks
  • Financial risks
  • Operational risks
  • Compliance risks
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By Deployment Mode
  • On-Premise
  • Cloud-Based
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By User Type
  • Large Enterprises
  • Small & Medium Enterprises
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By Industry Vertical
  • BFSI
  • IT & Telecom
  • Retail
  • Healthcare
  • Energy & Utilities
  • Manufacturing
  • Government & Defense
  • Other
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Key Market Players

ACCENTURE PLC, FIDELITY NATIONAL INFORMATION SERVICES, INC. (FIS), AXIOMSL, INC., VERISK ANALYTICS, INC., RECORDED FUTURE, INC., SAS INSTITUTE INC., INTERNATIONAL BUSINESS MACHINES CORPORATION, ORACLE CORPORATION, CAPGEMINI, SAP SE

Analyst Review

The adoption of preventive risk analytics has increased over time for preventing organizations to mitigate various types of threats that include attacks, natural catastrophes, and new and emerging risks. Furthermore, various banks and financial institutions across the globe are adopting risk analytics to reduce different fraudulent activities and meet strict regulatory compliance requirements. The adoption of risk analytics is expected to increase in the upcoming years owing to adoption of risk analytics in various organizations across Japan to optimize and mitigate risks that can negatively affect the organization’s products or services. Increase in the complexities in business process and rise in digitization among the financial institutions fuel the growth of the market. In addition, increase in number of data and security breaches among the organizations and rise in innovation in the Fintech industry propels the growth of the market. 

According to a study conducted by Accenture Japan on risk analytics, several factors are negatively impacting the Japan preventive risk analytics market. These factors include shortage of core risk management talent & skills, shortage of skills in new and emerging technologies, increased velocity, variety & volume of data, and lack of integration with other business functions hampers the risk function effectiveness. However, to cope with the ongoing digitization, Japan banking as well as capital markets are investing in technology, integration, and skilled workforce to drive value from their risk functions. Also, BFSI industry in Japan is investing in new technologies to enhance efficiency and improve risk outcomes. For instance, 86% companies participated in a survey are using big data analytics to address cost pressure. Also, 49% companies are using RPA* to replace high-volume low value-added tasks. Integration of new technologies is expected to expose the companies to numerous risks, which in turn will generate the need for the adoption of preventive risk analytics solutions. 

The global preventive risk analytics market is moderately concentrated, and companies are focusing on leveraging new technologies for offering intelligent solutions to cater to the evolving end-user requirements. In addition, the large companies dominate the preventive risk analytics market owing to their ability to offer innovative and high-quality services to end-users on a different scale and with customization that suits their specific needs. Key players have adopted various growth strategies to enhance and develop their product portfolio, garner maximum market share, and increase their market penetration. The market is witnessing new product launches by the leading players. One of the notable product launches in the market is the launch of NextGen, an AI-powered risk analytics scoring engine by Citi group in April 2019. The NextGen will help the bank eliminate time-consuming manual processes and deliver a better view of risk activities and insights.
 

Author Name(s) : Rachita Rake | Onkar Sumant

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Japan Preventive Risk Analytics Market

Opportunity Analysis and Industry Forecast, 2020-2027