Risk management software market to grow at a CAGR of 15.32% from 2022 to 2027|An increase in data and security breaches among enterprises to boost the market growth- Technavio

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The risk management software market size is forecast to increase by USD 7,372.29 million from 2022 to 2027, at a CAGR of 15.32%, according to the recent market study by Technavio. The growth of the market will be driven by the increase in data and security breaches among enterprises, the Increase in stringent government regulatory compliances, and the rise in the adoption of risk management among financial institutions. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Risk Management Software Market - Companies' Scope

Technavio has extensively analyzed 15 major companies, including Aravo Solutions Inc., Cura Global GRC Solutions PTE LTD., Dell Technologies Inc., Diligent Corp., Fusion Risk Management Inc., Ideagen, International Business Machines Corp., Intertek Group Plc, Kroll LLC, LogicGate Inc., LogicManager Inc., MetricStream Inc., NAVEX Global Inc., ProcessUnity Inc., Riskonnect Inc., RSM International Ltd., SAP SE, Stiftelsen Det Norske Veritas, Thomson Reuters Corp., and Wolters Kluwer NV. 

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and companies product offerings.
• The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Expense Management Software Market - Segmentation Assessment

The risk management software market report extensively covers market segmentation by component (software and services), deployment (on-premises and cloud), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

• The market share growth by the software segment will be significant during the forecast period. The growing demand for software that is capable of reducing risk and improving the overall performance of an organization is one of the key drivers of the risk management software market. Factors such as advances in technology, rising volumes of data, and the need for effective risk management and analysis are driving the growth of the segment. Some of the broad applications of this software are in industries such as finance, healthcare, and insurance, where risk analysis is an essential aspect of their operations. The main advantage of using risk management software is the automation of complex and time-consuming processes. These factors are expected to boost the growth of this segment of the risk management market during the forecast period. 
• North America is estimated to contribute 31% to the growth of the global market Factors such as the presence of multiple institutions from banking, financial services, and insurance (BFSI), IT, healthcare, and other industries are contributing significantly to the growth of risk management software market in the region. Furthermore, to easily process such a large number of transactions and optimize the back-office to front-office process, banks need advanced solutions that can automate payments and provide a centralized view. So banking companies are adopting risk management software. Therefore, the increasing adoption of risk management software by various industries such as banking, finance, and others is expected to drive the growth of the regional risk management software market during the forecast period. 

To get detailed insights about inclusions and exclusions, buy the report 

Risk Management Software Market - Market Dynamics

Key Driver - 

One of the key factors driving the risk management software market growth is an increase in data and security breaches among enterprises. There has been an increase in cyberattacks as more businesses depend on big data analytics and cloud computing to gain a competitive advantage. As a result, many organizations are investing in risk management tools designed to recognize and mitigate potential vulnerabilities in their IT infrastructure. Some of these companies are now using advanced threat intelligence platforms to monitor their networks and detect potential threats in real-time. Thus, these factors are expected to fuel the growth of the risk management software market during the forecast period. 

Leading Trend - 

A key factor shaping the risk management software market growth is the rising adoption of cloud-based risk management solutions. The main advantage of cloud-based risk management solutions is that employees can access risk management tools and information from anywhere, anytime, if they have an internet connection. In addition, cloud-based solutions enable better collaboration across teams and departments. Therefore, these benefits are expected to drive the growth of the risk management software market during the forecast period.

 Significant challenge - 

High cost and complexity in the installation and configuration of the software are one of the key challenges that affect the risk management software market growth. One of the main challenges is that the process of installing and configuring risk software often comes with a high cost and complexity. The need to customize this software for every business increases the cost and complexity of this software.  Hence, these factors can create a significant threat and impede the risk management software market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report! 

What are the key data covered in this Risk Management Software Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the risk management software market between 2023 and 2027
• Precise estimation of the risk management software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the risk management software market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of risk management software market companies. 

Register for trial today and gain instant access to 17,000+ market research reports. 
Technavio's SUBSCRIPTION platform

Related Reports:

The treasury and risk management software market is estimated to grow at a CAGR of 6.35% between 2022 and 2027. The size of the market is forecast to increase by USD 1,838.32 million. Furthermore, this report extensively covers market segmentation by type (treasury, investment management, and risk and compliance), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). One of the key factors driving the global treasury and risk management software growth during the forecast period is the benefits associated with treasury and risk management software.

The third-party risk management market size is expected to increase by USD 5.35 billion from 2021 to 2026, at a CAGR of 16.89%. Furthermore, this report extensively covers third-party risk management market segmentation by component (solution and service), deployment (cloud and on-premise), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The benefits associated with third-party risk management is one of the key drivers supporting the third-party risk management market growth during the forecast period.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on companies Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global risk management software market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global risk management software market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Software - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)
• Exhibit 43: Data Table on Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 44: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 46: Chart on Comparison by Deployment
• Exhibit 47: Data Table on Comparison by Deployment

• 7.3 On-premises - Market size and forecast 2022-2027 
• Exhibit 48: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 56: Market opportunity by Deployment ($ million)
• Exhibit 57: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 87: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 company Landscape

• 11.1 Overview

• 11.2 Company landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Company Analysis

• 12.1 companies covered 
• Exhibit 109: companies covered

• 12.2 Market positioning of companies 
• Exhibit 110: Matrix on company position and classification

• 12.3 Dell Technologies Inc. 
• Exhibit 111: Dell Technologies Inc. - Overview
• Exhibit 112: Dell Technologies Inc. - Business segments
• Exhibit 113: Dell Technologies Inc. - Key news
• Exhibit 114: Dell Technologies Inc. - Key offerings
• Exhibit 115: Dell Technologies Inc. - Segment focus

• 12.4 Diligent Corp.
• Exhibit 116: Diligent Corp. - Overview
• Exhibit 117: Diligent Corp. - Product / Service
• Exhibit 118: Diligent Corp. - Key offerings

• 12.5 Fusion Risk Management Inc. 
• Exhibit 119: Fusion Risk Management Inc. - Overview
• Exhibit 120: Fusion Risk Management Inc. - Product / Service
• Exhibit 121: Fusion Risk Management Inc. - Key offerings

• 12.6 International Business Machines Corp. 
• Exhibit 122: International Business Machines Corp. - Overview
• Exhibit 123: International Business Machines Corp. - Business segments
• Exhibit 124: International Business Machines Corp. - Key news
• Exhibit 125: International Business Machines Corp. - Key offerings
• Exhibit 126: International Business Machines Corp. - Segment focus

• 12.7 Intertek Group Plc
• Exhibit 127: Intertek Group Plc - Overview
• Exhibit 128: Intertek Group Plc - Business segments
• Exhibit 129: Intertek Group Plc - Key news
• Exhibit 130: Intertek Group Plc - Key offerings
• Exhibit 131: Intertek Group Plc - Segment focus

• 12.8 Kroll LLC
• Exhibit 132: Kroll LLC - Overview
• Exhibit 133: Kroll LLC - Product / Service
• Exhibit 134: Kroll LLC - Key offerings

• 12.9 LogicManager Inc.
• Exhibit 135: LogicManager Inc. - Overview
• Exhibit 136: LogicManager Inc. - Product / Service
• Exhibit 137: LogicManager Inc. - Key offerings

• 12.10 MetricStream Inc.
• Exhibit 138: MetricStream Inc. - Overview
• Exhibit 139: MetricStream Inc. - Product / Service
• Exhibit 140: MetricStream Inc. - Key offerings

• 12.11 NAVEX Global Inc.
• Exhibit 141: NAVEX Global Inc. - Overview
• Exhibit 142: NAVEX Global Inc. - Product / Service
• Exhibit 143: NAVEX Global Inc. - Key offerings

• 12.12 ProcessUnity Inc.
• Exhibit 144: ProcessUnity Inc. - Overview
• Exhibit 145: ProcessUnity Inc. - Product / Service
• Exhibit 146: ProcessUnity Inc. - Key offerings

• 12.13 Riskonnect Inc.
• Exhibit 147: Riskonnect Inc. - Overview
• Exhibit 148: Riskonnect Inc. - Product / Service
• Exhibit 149: Riskonnect Inc. - Key offerings

• 12.14 RSM International Ltd. 
• Exhibit 150: RSM International Ltd. - Overview
• Exhibit 151: RSM International Ltd. - Product / Service
• Exhibit 152: RSM International Ltd. - Key offerings

• 12.15 SAP SE
• Exhibit 153: SAP SE - Overview
• Exhibit 154: SAP SE - Business segments
• Exhibit 155: SAP SE - Key news
• Exhibit 156: SAP SE - Key offerings
• Exhibit 157: SAP SE - Segment focus

• 12.16 Thomson Reuters Corp. 
• Exhibit 158: Thomson Reuters Corp. - Overview
• Exhibit 159: Thomson Reuters Corp. - Business segments
• Exhibit 160: Thomson Reuters Corp. - Key offerings
• Exhibit 161: Thomson Reuters Corp. - Segment focus

• 12.17 Wolters Kluwer NV
• Exhibit 162: Wolters Kluwer NV - Overview
• Exhibit 163: Wolters Kluwer NV - Business segments
• Exhibit 164: Wolters Kluwer NV - Key offerings
• Exhibit 165: Wolters Kluwer NV - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 166: Inclusions checklist
• Exhibit 167: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 168: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 169: Research methodology
• Exhibit 170: Validation techniques employed for market sizing
• Exhibit 171: Information sources

• 13.5 List of abbreviations 
• Exhibit 172: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED