The global AI market is expected to reach USD 35,870.0 million by 2025 from its direct revenue sources, growing at a CAGR of 57.2% from 2017 to 2025, whereas it is expected to garner around USD 58,975.4 million by 2025 from its enabled revenue arena.
The global risk analytics market was valued at USD $9.15 billion in 2017 and is expected to reach $19.31 billion by 2023.
The market is expected to move towards taking a unified approach to risk management and developing an integrated risk management solution to enable business units and functions to incorporate risk intelligence into the many actions they take across different business units. Deployment of these solutions over the cloud is expected to provide opportunities to SMEs to take better decisions. However, the cyber risks associated are the major factor restraining the deployment of these solutions over the cloud.
- Data is Disparate. Enterprise data is typically spread across hundreds of different sources and stored in incompatible formats. International Data Corporation estimates that more than 90% of the data businesses create is “unstructured,” which is defined as unorganized data that resides outside the realm of ERP.
- Increasing Management Oversight. Enterprises are under increasing pressure to report a growing amount of information to internal management teams, boards of directors, internal and external auditors, and other stakeholders.
- Structural Shifts in Workforce Organization. Market dynamics and the globalization of enterprises have changed the way people work together. Organizations are becoming increasingly global, with employees geographically distributed to support strategic and business needs. Workforce flexibility initiatives have resulted in more employees working remotely.
- Consumerization of Enterprise IT. Technical advancements in smart phones and tablets have enabled the proliferation of mobile devices across the enterprise. Enterprise cloud-based solutions are becoming increasingly common and are enabling employees to work from anywhere with an internet connection, often from a mobile device.