Global Risk Management Market By Discipline (Financial Risk, Operational Risk), Technology Coverage (Integrated Risk Management, Advanced Analytics and Reporting), Industry (Banking, Capital Markets, Insurance, Oil and Gas, Utilities, Others), Deployment Type (Cloud, On- Premise), Software and Service (Consulting, Software, Service), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Risk Management Market
Global Risk Management Market is expected to rise from its initial estimated value of USD 13.12 billion in 2018 to an estimated value of USD 26.62 billion by 2026, registering a CAGR of 9.25% in the forecast period of 2019-2026. Increasing demand for risk management technologies is driving the growth of this market.
Market Definition: Global Risk Management Market
Risk management is the process which is used to identify the threats in the organizations and to eliminate those dangers. These threats can be strategic management error, financial errors, legal liabilities etc. Risk management plan is made as per the company processes so that they can identify the threats. These days they are widely used in banking, capital markets, oil and gas etc.
- Increasing demand for risk management software is driving the growth of this market
- Rising demand for risk management from various industries like banking, insurance, oil and gas etc. is another factor driving the market.
- Lack of skilled and trained professional is restraining the market growth
- Less adoption of risk management in under developed countries is restraining the market
Segmentation: Global Risk Management Market
- By Discipline
- Financial Risk
- Operational Risk
- By Technology Coverage
- Integrated Risk Management
- Advanced Analytics and Reporting
- By Industry
- Banking, Capital Markets
- Oil and Gas
- By Deployment Type
- On- Premise
- By Software and Service
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In April 2019, The Travelers Companies announced the launch of their new mobile app called Risk Toolworks which is specially designed so that the customers can get access to the company’s tools, resources and guides. They enable the customers to keep their information safe so that they can protect their businesses.
- In March 2019, POWERS Insurance and Risk Management announced the launch of their emerging risks division which is mainly designed for the insurance risk strategies. They are lined up with green energy, cannabis and cyber. The main aim is to help the clients business, employees and stakeholders.
Global risk management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of risk management market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working in the risk management market are Accenture, Allgress, Inc., BWise., Check Point Software Technologies Ltd., ControlCase LLC, Covalent Softwares, Ultimaker BV, Deloitte, Dell Inc, Enablon, FireEye, Inc., Fiserv, Inc., IBM CORPORATION, Lockpath, Inc., Oracle, PwC., Protiviti Inc., Riskonnect Inc., RSA Security LLC, SAP SE, Tata Consultancy Services Limited.
Research Methodology: Global Risk Management Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted 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 can 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. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved