Enterprise Risk Management Market 2030 By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), Deployment (Cloud, On-Premises), Institution (Banks, Credit Unions, Specialty Finance, Thrifts) - Industry Trends, Component (Hardware, Software, Services)- Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competive Index & Regional Footprints by MarketDigits

Industry : Information Technology | Pages : 180 Pages | Published On : Dec 2023

         
     

The Enterprise Risk Management Market size is estimated to grow from USD 5.3 Billion in 2022 to reach USD 7.9 Billion by 2030, growing at a CAGR of 5.3% during the forecast period from 2023 to 2030.

Enterprise Risk Management Market Size


Graph
             2020                         2023 to 2030      

ReportDetails
Market Size ValueUSD 5.3 Billion in 2022
Market Size ValueUSD 7.9 Billion by 2030
CAGR5.3%
Forecast Period2023 to 2030
Historic Data2020
Segments CoveredBy Deployment, Component, Institution, Risk Type, Industry Vertical and Region
Geographics CoveredNorth America, Latin America, Europe, Asia-Pacific, Rest of the World

 

Major players Enterprise Risk Management Market include: IBM, Capgemini., FIS., Infosys Limited, Oracle, SAP SE, LogicManager, Inc., MetricStream Inc., BWise., Dell Inc., SAS Institute Inc., Enablon France SAS, Intelex Technologies, Microsoft, Thomson Reuters., Wolters Kluwer N.V., SAI Global Pty Limited., ProcessGene Ltd., Ideagen Plc., NAVEX Global, Inc., MEGA International, Alyne GmbH.  & others.

Navigating the Global Enterprise Risk Management Market: Drivers and Challenges in the Digitalization and IoT Era

The global enterprise risk management market is experiencing significant growth during the forecast period. The rise in enterprise data security breaches and the increasingly stringent government regulatory compliance requirements worldwide. Moreover, the integration of risk management in FinTech organizations and the rapid expansion of the Internet of Things (IoT) environment are also contributing to market growth. The adoption of machine learning in risk management is further expected to boost the market during the forecast period.

The market's momentum is further fuelled by the growing digitalization trend, which aims to enhance customer experiences and leads to an increased demand for risk management solutions from banks and other financial institutions. Additionally, the use of software to more effectively manage process and data risks is projected to drive the enterprise risk management market forward throughout the forecast period. Advancements in cloud technology, driven by increased development activities, will offer new and sustainable opportunities, contributing to the market's expansion, especially in the Asia-Pacific, Latin America, the Middle East, and Africa regions.

However, some challenges may hinder the market's growth in the forecast period. High installation costs and complexities in software development could act as limitations for enterprise risk management. Furthermore, rising security concerns present the greatest challenge for the market's continuous growth.

Furthermore, as the business environment becomes more competitive, investors, stakeholders, and regulatory bodies are increasingly demanding higher transparency and accountability from organizations. Enterprise Risk Management enables companies to demonstrate their commitment to risk management, thereby enhancing their reputation and trustworthiness in the market.

Growing Demand for Enterprise Risk Management Market in Banks.

Developing software that works in combination with traditional finance operations has been challenging, but many financial institutions realise the importance of integrating information technology into their entire processes.

Various financial institutions, including specialty finance, credit unions, and thrifts, are proactively preparing for the digital future through strategic technological innovations. However, for banks, investing in technology-driven enterprise risk management services has become more than just following market trends. Banks are now making significant investments in enterprise risk management solutions to foster a risk-aware culture and efficiently implement risk strategies.

Banks dominated the enterprise risk management market in 2022, and this trend is expected to strengthen further in the upcoming years. Key players in the enterprise risk management market are concentrating on providing digital risk management software and services tailored for banks to capitalize on this growth and enhance their sales performance

The demand for enterprise risk management services is set to surge, accounting for a significant portion of the market revenue. As next-generation technologies like artificial intelligence and blockchain emerge, leading enterprise risk management companies are anticipated to focus on deploying tech-driven software to gain a competitive edge in the market.

North America holds the largest market share in the Enterprise Risk Management (ERM) market.

The region boasts a mature and well-established business environment, particularly in the United States, with a high concentration of large enterprises across various industries. These organizations typically have more extensive risk management needs and are early adopters of ERM solutions. Also, North America faces stringent regulatory requirements across industries like finance, healthcare, and energy, necessitating robust risk management practices and driving the demand for ERM solutions.

The awareness of risks in North American companies, with a strong emphasis on risk mitigation and proactive risk management. The region's business culture prioritizes managing risks effectively, contributing to the adoption of ERM solutions. Additionally, North America is known for being at the forefront of technological advancements, making it an early adopter of cutting-edge risk management technologies and practices. The region's willingness to invest in advanced solutions further propels the growth of the ERM market.

Moreover, the presence of a robust and substantial financial sector in North America, particularly in the United States, creates significant demand for risk management solutions. Financial institutions require comprehensive ERM frameworks to navigate complex financial landscapes successfully. Furthermore, North America faces a higher number of cybersecurity threats compared to some other regions, increasing the need for sophisticated ERM solutions to protect sensitive data and mitigate cyber risks effectively.

The Enterprise Risk Management Market research report provides an in-depth overview of the industry including market segmentation by deployment, component, institution, risk type, industry vertical and region. Analysis of the global market with a special focus on high-growth applications in each vertical and fast-growing market segment. It includes a detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top player’s rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, and game-changing developments such as new product launches, collaborations, expansions, investment analysis, mergers, and acquisitions.

Enterprise Risk Management Market is segmented by region and further by countries, deployment, component, institution, risk type, and industry vertical. Players, stakeholders, and other participants in the global Enterprise Risk Management Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

The report further studies the market strategies of key players, recent development status, future plans, and Enterprise Risk Management Market trends across the world. Also, it splits Enterprise Risk Management Market Segmentation by by deployment, component, institution, risk type, industry vertical and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

  • Enterprise Risk Management Market, By Deployment
    • Cloud-Based
    • On Premises
  • Enterprise Risk Management Market, By Component   
    • Hardware
    • Software
    • Services
  • Enterprise Risk Management Market, By Institution
    • Banks
    • Credit Unions
    • Specialty Finance
    • Thrifts
  • Enterprise Risk Management Market, By Risk Type
    • Hazard risk
    • Financial risk
    • Operational risk
    • Strategic risks
  • Enterprise Risk Management Market, By Industry Vertical
    • BFSI
    • IT & Telecom
    • Retail
    • Healthcare
    • Energy & Utilities
    • Manufacturing
    • Government & Defence
  • Enterprise Risk Management Market, By Geography
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Rest of Asia Pacific
    • Rest of the World
      • Middle East
      • UAE
      • Saudi Arabia
      • Israel
    • Africa
      • South Africa
      • Rest of Africa      

Reason to purchase this Enterprise Risk Management Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Enterprise Risk Management Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different and Enterprise Risk Management Market segments in the top spending countries across the world and identify the opportunities offered by each of them.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Enterprise Risk Management Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Enterprise Risk Management Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Enterprise Risk Management Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.

TOC

Table and Figures

  1. Executive Summary
  2. Introduction
    1. Key Takeaways
    2. Report Description
    3. Market Scope & Definition
    4. Stakeholders
    5. Research Methodology
      1. Market size
      2. Key data points from primary sources
      3. Key data points from secondary sources
      4. List of primary sources
      5. List of secondary sources
  3. Market Overview
    1. Introduction
    2. Industry Segmentation
    3. Market Trends Analysis
    4. Major Funding & Investments
    5. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    6. Value Chain Analysis
    7. Pricing Analysis
      1. Pricing Analysis, By Products
      2. Average Pricing Benchmark Analysis
  4. Enterprise Risk Management Market, By Deployment
    1. Cloud-Based
    2. On Premises
  5. Enterprise Risk Management Market, By Component        
    1. Hardware
    2. Software
    3. Services
  6. Enterprise Risk Management Market, By Institution
    1. Banks
    2. Credit Unions
    3. Specialty Finance
    4. Thrifts
  7. Enterprise Risk Management Market, By Risk Type
    1. Hazard risk
    2. Financial risk
    3. Operational risk
    4. Strategic risks
  8. Enterprise Risk Management Market, By Industry Vertical
    1. BFSI
    2. IT & Telecom
    3. Retail
    4. Healthcare
    5. Energy & Utilities
    6. Manufacturing
    7. Government & Defense
  9. Enterprise Risk Management Market, By Geography
    1. Enterprise Risk Management Market, North America
      1. U.S.
      2. Canada
    2. Enterprise Risk Management Market, Latin America
      1. Brazil
      2. Mexico
      3. Argentina
      4. Rest of Latin America
    3. Enterprise Risk Management Market, Europe
      1. UK
      2. Germany
      3. France
      4. Italy
      5. Spain
      6. Russia
      7. Rest of Europe
    4. Enterprise Risk Management Market, Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Rest of Asia Pacific
    5. Enterprise Risk Management Market, Rest of the world
      1. Middle East
        1. UAE
        2. Saudi Arabia
        3. Israel
      2. Africa
        1. South Africa
        2. Rest of Africa
  10. Competitive Analysis
    1. Introduction
    2. Top Companies Ranking
    3. Competitive Landscape
      1. Competition Dashboard
      2. Market Share Analysis (2022)
      3. Emerging company case studies
    4. Company Profiles
      1. IBM
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      2. Capgemini.,
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      3. Infosys Limited
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      4. Oracle
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      5. SAP SE
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      6. LogicManager
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      7. MetricStream Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      8. BWise.

 

 

        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition   
      1. Dell Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      2. SAS Institute Inc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      3. Enablon France SAS
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      4. Intelex Technologies
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      5. Microsoft
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      6. Thomson Reuters.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      7. Wolters Kluwer N.V.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      8. SAI Global Pty Limited.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      9. ProcessGene Ltd.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      10. Ideagen Plc.
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      11. NAVEX Global
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      12. MEGA International
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition
      13. Alyne GmbH
        1. Business Overview
        2. Product Portfolio
        3. Market Segments (Business Segment/Region)
        4. Sales Footprint
        5. Recent Developments
          1. New Product Launch
          2. Mergers & Acquisitions
          3. Collaborations, Partnerships & Agreements
          4. Rewards & Recognition

Methodology:

At MarketDigits, we take immense pride in our 360° Research Methodology, which serves as the cornerstone of our research process. It represents a rigorous and comprehensive approach that goes beyond traditional methods to provide a holistic understanding of industry dynamics.

This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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Covered Key Topics

Growth Opportunities

Market Growth Drivers

Leading Market Players

Company Market Share

Market Size and Growth Rate

Market Trend and Technological

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