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Global Enterprise Risk Management Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Enterprise Risk Management Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 4328.00 Billion
Diagram Market Size (Forecast Year) USD 6591.92 Billion
Diagram CAGR %

Global Enterprise Risk Management Market, By Component (Hardware, Software, Services), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), Deployment (Cloud, On-Premises), Institution (Banks, Credit Unions, Specialty Finance, Thrifts) - Industry Trends and Forecast to 2029

Market Analysis and Size

In the past years, the finance sector is witnessing rapid digitization, and transforming to change the face of the banking industry. Digitalization in the finance sector is expected to enhance customer experience while cutting down expenses. This is beneficial for catering the emerging requirements for enterprise risk management companies.

Global Enterprise Risk Management Market was valued at USD 4328.00 million in 2021 and is expected to reach USD 6591.92 million by 2029, registering a CAGR of 5.40% during the forecast period of 2022-2029. On-Premises segment is expected to witness high growth in the respective market owing to the rise in adoption of on-premise based risk management solutions. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Enterprise risk management (ERM) refers to a framework for managing organizational risk. Organizational risk is known to be a broad term, and it can encompass concerns including employee safety and sensitive data to meeting statutory regulations. Risk can be both internal, and external.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Hardware, Software, Services), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), Deployment (Cloud, On-Premises), Institution (Banks, Credit Unions, Specialty Finance, Thrifts)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

IBM (US), Capgemini. (France), FIS. (US), Infosys Limited(India), Oracle (India), SAP SE (Germany), LogicManager, Inc. (US), MetricStream Inc. (US), BWise. (Netherlands), Dell Inc. (US), SAS Institute Inc. (US), Enablon France SAS (France), Intelex Technologies (Canada), Microsoft (US), Thomson Reuters. (Canada), Wolters Kluwer N.V. (Netherlands), SAI Global Pty Limited. (Australia), ProcessGene Ltd. (Israel), Ideagen Plc. (UK), NAVEX Global, Inc. (US), MEGA International (France), and Alyne GmbH. (Germany), among others

Market Opportunities
  • Increase in number of development activities
  • Use of enterprise risk management (ERM) among organizations for understanding
  • Rise in implementation of stringent regulations and mandates

Enterprise Risk Management Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Management of Risks

The use of enterprise risk management (ERM) among organizations for understanding, anticipating and holistically managing their risks acts as one of the major factors driving the enterprise risk management market. These solutions are effective to make strategic decisions effectively, and respond efficiently.

  • Implementation of Stringent Regulations

The rise in implementation of stringent regulations and mandates by the government across various end-user verticals accelerate the market growth. Also, increase in the adoption of eGRC solutions that fulfill the need for audit, management, and compliance, among others has a positive impact on the market.

  • Rise in Threats

The rise in threats amongst organizations due to digitalization and sharing of large amount of data accelerate further influence the market. The increase in cybersecurity threat is acting as another factor driving the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the enterprise risk management market.

Opportunities

Furthermore, increase in number of development activities extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in investments will further expand the market.

Restraints/Challenges

On the other hand, high cost of installation along with rising complexities in developing software are expected to obstruct market growth. Also, lack of awareness about the various benefits of eGRC, and changes in the company’s code of conduct and organizational structures are projected to challenge the enterprise risk management market in the forecast period of 2022-2029.

This enterprise risk management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on enterprise risk management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Enterprise Risk Management Market

COVID-19 had a positive impact on the enterprise risk management market due to the rise in number of industry verticals adopting enterprise risk management tools during the outbreak of COVID-19. Numerous industries, especially finance sector was deploying enterprise risk management to secure employee security. The enterprise risk management market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of data monetization.

Recent Developments

  • Wolter Kluwer's Compliance Solution announced news regarding the Deposit and IRA Document Suite (DIDS) in May’2021. These feature a full library of deposit and IRA (individual retirement account) banking documents.
  • MetricStream held hands with SmarTek21 in January’2021. The partnership aims at providing customers an improved AI-powered virtual agent experience on the MetricStream Platform and products.

Global Enterprise Risk Management Market Scope and Market Size

The enterprise risk management market is segmented on the basis of component, organization size, deployment, and institution. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Hardware
  • Software
  • Services

Organization Size

  • Small And Medium Enterprises (SMEs)
  • Large Enterprises

Deployment

  • Cloud
  • On-Premises

Institution

  • Banks
  • Credit Unions
  • Specialty Finance
  • Thrifts

Enterprise Risk Management Market Regional Analysis/Insights

The enterprise risk management market is analysed and market size insights and trends are provided by country, component, organization size, deployment, and institution as referred above.

The countries covered in the enterprise risk management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the enterprise risk management market due to the rise in digital transformation across banking institution along with favourable government laws and regulations within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the adoption of ERM solutions by various business segments in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Enterprise Risk Management Market

The enterprise risk management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to enterprise risk management market.

Some of the major players operating in enterprise risk management market are

  • IBM (US)
  • Capgemini. (France)
  • FIS. (US)
  • Infosys Limited (India)
  • Oracle (India)
  • SAP SE (Germany)
  • LogicManager, Inc. (US)
  • MetricStream Inc. (US)
  • BWise. (Netherlands)
  • Dell Inc. (US)
  • SAS Institute Inc. (US)
  • Enablon France SAS (France)
  • Intelex Technologies (Canada)
  • Microsoft (US)
  • Thomson Reuters. (Canada)
  • Wolters Kluwer N.V. (Netherlands)
  • SAI Global Pty Limited. (Australia)
  • ProcessGene Ltd. (Israel)
  • Ideagen Plc. (UK)
  • NAVEX Global, Inc. (US)
  • MEGA International (France)
  • Alyne GmbH. (Germany)

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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

Global Enterprise Risk Management Market is expected USD 6591.92 million by 2029.
The Enterprise Risk Management Market is expected to witness CAGR of 5.40% during the forecast period of 2022-2029
The major players operating in the market are IBM (US), Capgemini. (France), FIS. (US), Infosys Limited(India), Oracle (India), SAP SE (Germany), LogicManager, Inc. (US), MetricStream Inc. (US), BWise. (Netherlands), Dell Inc. (US), SAS Institute Inc. (US), Enablon France SAS (France), Intelex Technologies (Canada), Microsoft (US), Thomson Reuters. (Canada), Wolters Kluwer N.V. (Netherlands), SAI Global Pty Limited. (Australia), ProcessGene Ltd. (Israel), Ideagen Plc. (UK), NAVEX Global, Inc. (US), MEGA International (France), and Alyne GmbH. (Germany), among others.
The major countries covered in the Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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