by The global Operational risk management solution market size was estimated to be around US$ 1.5 billion in 2022. It is projected to reach US$ 3.67 billion by 2032, indicating a CAGR of 9.40% from 2023 to 2032.
Key Takeaways
- North America contributed more than 42% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- By deployment, the on-premise segment has held the largest market share of 61% in 2022.
- By deployment, the cloud segment is anticipated to grow at a remarkable CAGR of 10.2% between 2023 and 2032.
- By enterprise size, the large enterprise segment generated over 59% of revenue in 2022.
- By enterprise size, the SME segment is expected to expand at the fastest CAGR over the projected period.
Operational Risk Management Solutions encompass a range of software and tools that aid businesses in identifying, evaluating, and controlling operational risks. These solutions provide a comprehensive framework for risk assessment, incident reporting, and compliance management. The primary goal is to minimize the impact of unforeseen events and enhance the organization’s ability to navigate challenges effectively.
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Growth Factors
Several factors contribute to the growth of the Operational Risk Management Solution market. The increasing complexity of business operations, coupled with the rising awareness of the importance of risk mitigation, drives the demand for advanced solutions. Regulatory compliance requirements also fuel the adoption of these solutions, as organizations strive to meet industry standards and legal obligations. Additionally, the continuous advancements in technology, such as artificial intelligence and machine learning, further drive the innovation and expansion of operational risk management tools.
Operational Risk Management Solution Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 9.40% |
| Market Size in 2023 | USD 1.63 Billion |
| Market Size by 2032 | USD 3.67 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Deployment and By Enterprise Size |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Operational Risk Management Solution Market:
The Operational Risk Management Solution market is a dynamic sector that plays a crucial role in helping organizations identify, assess, and mitigate potential risks associated with their operational activities. These solutions are designed to enhance decision-making processes and improve overall business resilience by addressing risks that may arise from various internal and external factors.
Overview: Operational Risk Management Solutions encompass a range of software and tools that aid businesses in identifying, evaluating, and controlling operational risks. These solutions provide a comprehensive framework for risk assessment, incident reporting, and compliance management. The primary goal is to minimize the impact of unforeseen events and enhance the organization’s ability to navigate challenges effectively.
Growth Factors: Several factors contribute to the growth of the Operational Risk Management Solution market. The increasing complexity of business operations, coupled with the rising awareness of the importance of risk mitigation, drives the demand for advanced solutions. Regulatory compliance requirements also fuel the adoption of these solutions, as organizations strive to meet industry standards and legal obligations. Additionally, the continuous advancements in technology, such as artificial intelligence and machine learning, further drive the innovation and expansion of operational risk management tools.
Region Snapshot
The market for Operational Risk Management Solutions is not confined to a specific geographic location; instead, it has a global footprint. North America, Europe, Asia-Pacific, and other regions each play a significant role in the market’s growth.
In North America, stringent regulatory frameworks and the presence of a large number of enterprises contribute to the adoption of these solutions. In the Asia-Pacific region, the increasing awareness of risk management practices and the rapid expansion of businesses fuel the demand for operational risk management solutions.
Recent Developments
- In 2022, Prometheus Group, a prominent global provider of software for optimizing asset management operations, concluded its acquisition of RiskPoynt, a specialized firm renowned for its cutting-edge risk management software solutions.
- In 2022, IBM announced a strategic alliance with SAP to streamline the adoption of a hybrid cloud strategy for its clients. This collaboration leverages the combined expertise of both organizations, offering technological solutions and consultancy services to facilitate the migration of critical workloads from SAP solutions to cloud environments. The initiative is adaptable to meet the needs of a diverse range of industries, catering to those under stringent regulatory oversight and those operating in more flexible, non-regulated sectors.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Operational Risk Management Solution Market Players
- IBM
- SAS Institute Inc.
- RSA Security LLC (A Dell Technologies Company)
- MetricStream Inc.
- Wolters Kluwer
- Oracle Corporation
- Fidelity National Information Services, Inc. (FIS)
- Moody’s Analytics
- Verint Systems Inc.
- SAI Global (Now part of BWise)
- Thomson Reuters (Now Refinitiv)
- Resolver Inc.
- RiskWatch International
- ACL Services Ltd.
- Genpact Limited
Market Segmentations
By Deployment
- On-Premise
- Cloud
By Enterprise Size
- SMEs
- Large Enterprise
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Operational Risk Management Solution Market
5.1. COVID-19 Landscape: Operational Risk Management Solution Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Operational Risk Management Solution Market, By Deployment
8.1. Operational Risk Management Solution Market, by Deployment, 2023-2032
8.1.1. On-Premise
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Cloud
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Operational Risk Management Solution Market, By Enterprise Size
9.1. Operational Risk Management Solution Market, by Enterprise Size, 2023-2032
9.1.1. SMEs
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Large Enterprise
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Operational Risk Management Solution Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.1.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.2.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.5.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Deployment (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Enterprise Size (2020-2032)
Chapter 11. Company Profiles
11.1. IBM
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. SAS Institute Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. RSA Security LLC (A Dell Technologies Company)
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. MetricStream Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Wolters Kluwer
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Oracle Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Fidelity National Information Services, Inc. (FIS)
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Moody’s Analytics
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Verint Systems Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. SAI Global (Now part of BWise)
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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