Global Risk Management Market to Reach USD 38.9 Billion by 2033, Stimulated by Rising Cross-Border Transactions

December 10, 2024 | Technology & Media

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According to the latest report by IMARC Group, titled “Risk Management Market Report by Component (Software, Service), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense, and Others), and Region 2025-2033,” the global risk management market size reached USD 13.5 Billion in 2024. Risk management is the procedure of identifying, assessing, and managing the financial, legal, strategic, and security risks of an organization. It functions by identifying, analyzing the likelihood and impact and prioritizing risks based on business objectives; responding to different risk conditions; and monitoring the results. It manages risks emerging from a wide variety of sources, including financial uncertainty, legal liabilities, accidents, strategic management errors, and natural disasters. It enables companies to maintain the health and safety of their employees and customer satisfaction levels. Furthermore, it facilitates efficient compliance with regulatory and internal compliance.

Global Risk Management Market Trends:

At present, the increasing demand for risk management to improve operational efficiency through consistent application of risk processes and control represents one of the crucial factors impelling the market growth. In addition, rising cross-border transactions, along with the adoption of online payment methods to make cashless payments, are contributing to the growth of the market. Besides this, the growing occurrence of cyber security breaches to steal confidential information is offering a favorable market outlook. Additionally, the increasing adoption of risk management in financial institutions to minimize compliance costs is supporting the growth of the market. Apart from this, numerous initiatives undertaken by governing agencies of various countries to prevent money laundering and terrorist activities are bolstering the growth of the market. Looking forward, the market value is projected to reach USD 38.9 Billion by 2033, expanding at a CAGR of 12.48% during 2025-2033.

Market Summary:

Based on the component, software currently dominates the market, followed by services.
On the basis of the deployment mode, on-premises represent the largest segment, followed by cloud-based.
Based on the enterprise size, the market has been segregated into large enterprises and small and medium-sized enterprises. At present, large enterprises exhibit a clear dominance in the market.
On the basis of industry vertical, the market has been classified into BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, government and defense, and others. Presently, BFSI holds the biggest market share.
Region-wise, the market has been divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being ACTICO GmbH, Broadridge Financial Solutions Inc., Fidelity National Information Services Inc., International Business Machines Corporation, LogicManager Inc., MetricStream Inc., NAVEX Global Inc., Oracle Corporation, Qualys Inc., Risk Edge Solutions, SAP SE, SAS Institute Inc., ServiceNow, and Thomson Reuters Corporation.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Components Covered	Software, Service
Deployment Modes Covered	On-premises, Cloud-based
Enterprise Sizes Covered	Large Enterprises, Small and Medium-sized Enterprises
Industry Verticals Covered	BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ACTICO GmbH, Broadridge Financial Solutions Inc., Fidelity National Information Services Inc., International Business Machines Corporation, LogicManager Inc., MetricStream Inc., NAVEX Global Inc., Oracle Corporation, Qualys Inc., Risk Edge Solutions, SAP SE, SAS Institute Inc., ServiceNow, Thomson Reuters Corporation, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Risk Management Market to Reach USD 38.9 Billion by 2033, Stimulated by Rising Cross-Border Transactions

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