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Credit Risk Rating Software Market Share

Report ID: GMI9577
Published Date: May 2024
Report Format: PDF

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Credit Risk Rating Software Market Share

Moody's Analytics and SAS Institute hold a significant market share of over 18% in the credit risk rating software industry. The demand for the credit risk rating software industry is growing due to the concerted efforts of the corresponding companies in this segment. Companies invest in research and development to create efficient and user-friendly software solutions. They focus on enhancing predictive analytics, risk modelling capabilities, and real-time analytics products to meet the evolving needs of financial institutions.

In addition, the companies offer customized solutions and support services to ensure seamless integration and efficiency. These targeted efforts are contributing to increased adoption of credit risk rating software, driving market demand and innovation in the industry.

Credit Risk Rating Software Market Companies

Major companies operating in the credit risk rating software industry are:

Equifax
Experian
FICO
FIS
Moody's Analytics
Oracle
Provenir
Salesforce
SAS Institute
Temenos

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of credit risk rating software reached USD 10.9 billion in 2023 and is set to witness 9% CAGR from 2024 to 2032, owing to the critical need for accurate credit risk assessments driven by reports from senior government agencies.

The credit scoring software segment is poised to cross USD 7 billion by 2032, due to the rising need to accurately assess the creditworthiness of borrowers.

The large enterprises organization segment in the credit risk rating software industry accounted for 63% revenue share in 2023, on account of the rising demand for sophisticated software that can accurately assess credit and mitigate risks.

North America market accounted for 33% of the revenue share in 2023, attributed to the rising need to improve risk management practices, meet regulatory requirements, and make sound credit decisions.