Global Risk Management Market Size, Share & Trends Analysis Report By Component (Software and Service), By Deployment Model (On-premise and Cloud), By Organization Size, By Vertical, By Regional Outlook and Forecast, 2023 - 2030

Global Risk Management Market Size, Share & Trends Analysis Report By Component (Software and Service), By Deployment Model (On-premise and Cloud), By Organization Size, By Vertical, By Regional Outlook and Forecast, 2023 - 2030


The Global Risk Management Market size is expected to reach $35.7 billion by 2030, rising at a market growth of 15.2% CAGR during the forecast period.

Monitor and respond to consumer feedback to address issues promptly and protect the brand's reputation. They were developing strategies for effective communication during crises to manage public perception and maintain customer loyalty. Consequently, the movie characters segment would generate approximately 13.86% share of the market by 2030. Managing credit risk associated with customer transactions, particularly in cases of extended credit terms or installment payments. International retailers were managing currency exchange rate risks to avoid financial losses.

The complexity of these regulations creates an opportunity for risk management solutions to provide tools that streamline compliance processes, track regulatory changes, and ensure adherence to diverse compliance requirements. Thus, stringent regulatory compliance requirements act as a driving force for expanding the market. Moreover, Globalization leads to businesses engaging in diverse markets, which exposes them to various risks, such as geopolitical, economic, and regulatory. This diversification creates a higher demand for sophisticated risk management strategies and solutions. Cross-border operations often involve dealing with different legal, cultural, and regulatory environments. Thus, globalization and cross-border operations have expanded the market.

However, the speed at which risks evolve in a complex and dynamic environment can outpace the ability of traditional risk management models and tools to adapt. This can result in outdated risk assessments and strategies that fail to address emerging threats. The complexity of the business landscape makes it challenging to identify and anticipate emerging risks. Due to the above factors, market growth will be hampered in the coming years.

By Component Analysis

Based on component, the market is fragmented into service and software. The service segment garnered a significant revenue share in the market in 2022. Risk assessment and consulting services provide organizations with the expertise to conduct comprehensive risk assessments. Experienced consultants analyze the unique risk landscape of a business, identify potential threats, and recommend tailored strategies to enhance resilience. This service component ensures that risk management strategies align with the distinct needs and goals of the organization. Financial risk management advisory services give organizations insights into market fluctuations, credit risks, and liquidity challenges. Experts in financial risk management guide businesses in optimizing investment strategies, hedging against financial uncertainties, and ensuring financial stability.

By Deployment Model

On the basis of deployment model, the market is segmented into on-premises and cloud. In 2022, the on-premises segment dominated the market with the maximum revenue share. On-premises deployment affords organizations greater control over their data governance policies. This is mainly crucial in industries where data privacy and confidentiality are paramount. Organizations can implement robust data governance measures, including encryption, access controls, and auditing, to safeguard sensitive risk-related information. On-premises deployment ties the performance and scalability of risk management systems to the organization's internal network infrastructure. This can pose challenges in rapidly scaling resources or adapting to dynamic workloads. Organizations must carefully plan and invest in scalable infrastructure to accommodate future growth and changing requirements.

By Organization Size

By organization size, the market is categorized into large enterprises and small & medium enterprises. The small & medium enterprises segment recorded a remarkable revenue share in the market in 2022. SMEs can optimize their insurance coverage by understanding their risks. This helps in avoiding over-insurance or under-insurance, ensuring cost-effectiveness and appropriate coverage. SMEs can use risk management to identify operational risks, such as process inefficiencies, technology failures, or human errors. Addressing these risks enhances overall operational efficiency. SMEs often face credit, cash flow, and financial stability challenges. Risk management can help identify and manage these risks, ensuring the business's financial health.

By Vertical Analysis

On the basis of vertical, the market is BFSI, IT & telecom, retail, healthcare & lifesciences, energy & utilities, manufacturing, government & defense, and others. In 2022, the BFSI segment witnessed the largest revenue share in the market. Banks assess the creditworthiness of borrowers to manage the risk of default. This involves analyzing financial statements, credit history, and collateral to make informed lending decisions. Financial institutions manage the risk arising from fluctuations in interest rates, exchange rates, and market prices of securities by aligning their assets and liabilities. BFSI entities often use derivatives to hedge against market risks, especially regarding currency and interest rate exposures. Offer insurance products to customers and utilize reinsurance to transfer some of the risks associated with underwriting.

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region garnered a significant revenue share in the market in 2022. Regulatory frameworks in the Asia Pacific region are evolving to address emerging risks and protect various stakeholders. Compliance with regulations related to financial services, data privacy, and cybersecurity is crucial, leading to increased adoption of risk management solutions. There is a cultural shift toward recognizing the value of risk management as a strategic business function. Organizations acknowledge the need to manage risks to achieve long-term sustainability and resilience proactively.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Recent Strategies Deployed in the Market
  • Nov-2023: Qualys, Inc. has unveiled the TruRisk Platform, a solution for agile cyber risk management. This platform is crafted to enhance adaptive cyber risk management, allowing customers to quantitatively assess, communicate, and proactively address potential cyber risks.
  • Oct-2023: IBM Corporation has launched an updated version of its managed detection and response services, incorporating new artificial intelligence technologies. The enhanced TDR Services now feature AI models that consistently learn from actual client data, including responses from security analysts. These models are designed to automatically resolve low-priority and false-positive alerts, using a confidence level defined by the client.
  • Sep-2023: ServiceNow, Inc. has entered into a partnership with Wipro Limited, an IT service and consultancy company. This partnership aims to develop Wipro CyberTransform - Intelligent ServiceNow Risk and Security Solutions, a solution that facilitates organizations in seamlessly integrating their risk, compliance, and security strategies more efficiently and rapidly.
  • Sep-2023: IBM Corporation has expanded the capabilities of the IBM Cloud Security and Compliance Center. This suite comprises updated cloud security and compliance solutions aimed at assisting enterprises in minimizing risks and safeguarding data in their hybrid, multicloud environments, and workloads. The expansion underscores the IBM's commitment to industry-specific capabilities, addressing practical business challenges for clients.
  • Jun-2022: SAS Institute, Inc. has acquired Kamakura Corporation, a software company. This acquisition is part of SAS's effort to broaden its portfolio of risk solutions and aligns with their significant investments in a cloud-ready risk management platform and integrated solutions.
List of Key Companies Profiled
  • RSA Security LLC (Symphony Technology Group)
  • IBM Corporation
  • SAS Institute, Inc.
  • SAP SE
  • ServiceNow, Inc.
  • Qualys, Inc.
  • Thomson Reuters Corporation (The Woodbridge Company)
  • NAVEX Global, Inc. (Lockpath)
  • MetricStream, Inc.
  • LogicManager, Inc.
Global Risk Management Market Report Segmentation

By Component
  • Software
  • Service
By Deployment Model
  • On-premise
  • Cloud
By Organization Size
  • Large Enterprises
  • Small & Medium Enterprises
By Vertical
  • BFSI
  • Government & Defense
  • Energy & Utilities
  • Healthcare & Lifesciences
  • Manufacturing
  • Retail
  • IT & Telecom
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA


Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Risk Management Market, by Component
1.4.2 Global Risk Management Market, by Deployment Model
1.4.3 Global Risk Management Market, by Organization Size
1.4.4 Global Risk Management Market, by Vertical
1.4.5 Global Risk Management Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis – Global
4.1 Market Share Analysis, 2022
4.2 Strategies Deployed in Risk Management Market
4.3 Porter’s Five Forces Analysis
Chapter 5. Global Risk Management Market by Component
5.1 Global Software Market by Region
5.2 Global Service Market by Region
Chapter 6. Global Risk Management Market by Deployment Model
6.1 Global On-premise Market by Region
6.2 Global Cloud Market by Region
Chapter 7. Global Risk Management Market by Organization Size
7.1 Global Large Enterprises Market by Region
7.2 Global Small & Medium Enterprises Market by Region
Chapter 8. Global Risk Management Market by Vertical
8.1 Global BFSI Market by Region
8.2 Global Government & Defense Market by Region
8.3 Global Energy & Utilities Market by Region
8.4 Global Healthcare & Lifesciences Market by Region
8.5 Global Manufacturing Market by Region
8.6 Global Retail Market by Region
8.7 Global IT & Telecom Market by Region
8.8 Global Others Market by Region
Chapter 9. Global Risk Management Market by Region
9.1 North America Risk Management Market
9.1.1 North America Risk Management Market by Component
9.1.1.1 North America Software Market by Region
9.1.1.2 North America Service Market by Region
9.1.2 North America Risk Management Market by Deployment Model
9.1.2.1 North America On-premise Market by Region
9.1.2.2 North America Cloud Market by Region
9.1.3 North America Risk Management Market by Organization Size
9.1.3.1 North America Large Enterprises Market by Country
9.1.3.2 North America Small & Medium Enterprises Market by Country
9.1.4 North America Risk Management Market by Vertical
9.1.4.1 North America BFSI Market by Country
9.1.4.2 North America Government & Defense Market by Country
9.1.4.3 North America Energy & Utilities Market by Country
9.1.4.4 North America Healthcare & Lifesciences Market by Country
9.1.4.5 North America Manufacturing Market by Country
9.1.4.6 North America Retail Market by Country
9.1.4.7 North America IT & Telecom Market by Country
9.1.4.8 North America Others Market by Country
9.1.5 North America Risk Management Market by Country
9.1.5.1 US Risk Management Market
9.1.5.1.1 US Risk Management Market by Component
9.1.5.1.2 US Risk Management Market by Deployment Model
9.1.5.1.3 US Risk Management Market by Organization Size
9.1.5.1.4 US Risk Management Market by Vertical
9.1.5.2 Canada Risk Management Market
9.1.5.2.1 Canada Risk Management Market by Component
9.1.5.2.2 Canada Risk Management Market by Deployment Model
9.1.5.2.3 Canada Risk Management Market by Organization Size
9.1.5.2.4 Canada Risk Management Market by Vertical
9.1.5.3 Mexico Risk Management Market
9.1.5.3.1 Mexico Risk Management Market by Component
9.1.5.3.2 Mexico Risk Management Market by Deployment Model
9.1.5.3.3 Mexico Risk Management Market by Organization Size
9.1.5.3.4 Mexico Risk Management Market by Vertical
9.1.5.4 Rest of North America Risk Management Market
9.1.5.4.1 Rest of North America Risk Management Market by Component
9.1.5.4.2 Rest of North America Risk Management Market by Deployment Model
9.1.5.4.3 Rest of North America Risk Management Market by Organization Size
9.1.5.4.4 Rest of North America Risk Management Market by Vertical
9.2 Europe Risk Management Market
9.2.1 Europe Risk Management Market by Component
9.2.1.1 Europe Software Market by Country
9.2.1.2 Europe Service Market by Country
9.2.2 Europe Risk Management Market by Deployment Model
9.2.2.1 Europe On-premise Market by Country
9.2.2.2 Europe Cloud Market by Country
9.2.3 Europe Risk Management Market by Organization Size
9.2.3.1 Europe Large Enterprises Market by Country
9.2.3.2 Europe Small & Medium Enterprises Market by Country
9.2.4 Europe Risk Management Market by Vertical
9.2.4.1 Europe BFSI Market by Country
9.2.4.2 Europe Government & Defense Market by Country
9.2.4.3 Europe Energy & Utilities Market by Country
9.2.4.4 Europe Healthcare & Lifesciences Market by Country
9.2.4.5 Europe Manufacturing Market by Country
9.2.4.6 Europe Retail Market by Country
9.2.4.7 Europe IT & Telecom Market by Country
9.2.4.8 Europe Others Market by Country
9.2.5 Europe Risk Management Market by Country
9.2.5.1 Germany Risk Management Market
9.2.5.1.1 Germany Risk Management Market by Component
9.2.5.1.2 Germany Risk Management Market by Deployment Model
9.2.5.1.3 Germany Risk Management Market by Organization Size
9.2.5.1.4 Germany Risk Management Market by Vertical
9.2.5.2 UK Risk Management Market
9.2.5.2.1 UK Risk Management Market by Component
9.2.5.2.2 UK Risk Management Market by Deployment Model
9.2.5.2.3 UK Risk Management Market by Organization Size
9.2.5.2.4 UK Risk Management Market by Vertical
9.2.5.3 France Risk Management Market
9.2.5.3.1 France Risk Management Market by Component
9.2.5.3.2 France Risk Management Market by Deployment Model
9.2.5.3.3 France Risk Management Market by Organization Size
9.2.5.3.4 France Risk Management Market by Vertical
9.2.5.4 Russia Risk Management Market
9.2.5.4.1 Russia Risk Management Market by Component
9.2.5.4.2 Russia Risk Management Market by Deployment Model
9.2.5.4.3 Russia Risk Management Market by Organization Size
9.2.5.4.4 Russia Risk Management Market by Vertical
9.2.5.5 Spain Risk Management Market
9.2.5.5.1 Spain Risk Management Market by Component
9.2.5.5.2 Spain Risk Management Market by Deployment Model
9.2.5.5.3 Spain Risk Management Market by Organization Size
9.2.5.5.4 Spain Risk Management Market by Vertical
9.2.5.6 Italy Risk Management Market
9.2.5.6.1 Italy Risk Management Market by Component
9.2.5.6.2 Italy Risk Management Market by Deployment Model
9.2.5.6.3 Italy Risk Management Market by Organization Size
9.2.5.6.4 Italy Risk Management Market by Vertical
9.2.5.7 Rest of Europe Risk Management Market
9.2.5.7.1 Rest of Europe Risk Management Market by Component
9.2.5.7.2 Rest of Europe Risk Management Market by Deployment Model
9.2.5.7.3 Rest of Europe Risk Management Market by Organization Size
9.2.5.7.4 Rest of Europe Risk Management Market by Vertical
9.3 Asia Pacific Risk Management Market
9.3.1 Asia Pacific Risk Management Market by Component
9.3.1.1 Asia Pacific Software Market by Country
9.3.1.2 Asia Pacific Service Market by Country
9.3.2 Asia Pacific Risk Management Market by Deployment Model
9.3.2.1 Asia Pacific On-premise Market by Country
9.3.2.2 Asia Pacific Cloud Market by Country
9.3.3 Asia Pacific Risk Management Market by Organization Size
9.3.3.1 Asia Pacific Large Enterprises Market by Country
9.3.3.2 Asia Pacific Small & Medium Enterprises Market by Country
9.3.4 Asia Pacific Risk Management Market by Vertical
9.3.4.1 Asia Pacific BFSI Market by Country
9.3.4.2 Asia Pacific Government & Defense Market by Country
9.3.4.3 Asia Pacific Energy & Utilities Market by Country
9.3.4.4 Asia Pacific Healthcare & Lifesciences Market by Country
9.3.4.5 Asia Pacific Manufacturing Market by Country
9.3.4.6 Asia Pacific Retail Market by Country
9.3.4.7 Asia Pacific IT & Telecom Market by Country
9.3.4.8 Asia Pacific Others Market by Country
9.3.5 Asia Pacific Risk Management Market by Country
9.3.5.1 China Risk Management Market
9.3.5.1.1 China Risk Management Market by Component
9.3.5.1.2 China Risk Management Market by Deployment Model
9.3.5.1.3 China Risk Management Market by Organization Size
9.3.5.1.4 China Risk Management Market by Vertical
9.3.5.2 Japan Risk Management Market
9.3.5.2.1 Japan Risk Management Market by Component
9.3.5.2.2 Japan Risk Management Market by Deployment Model
9.3.5.2.3 Japan Risk Management Market by Organization Size
9.3.5.2.4 Japan Risk Management Market by Vertical
9.3.5.3 India Risk Management Market
9.3.5.3.1 India Risk Management Market by Component
9.3.5.3.2 India Risk Management Market by Deployment Model
9.3.5.3.3 India Risk Management Market by Organization Size
9.3.5.3.4 India Risk Management Market by Vertical
9.3.5.4 South Korea Risk Management Market
9.3.5.4.1 South Korea Risk Management Market by Component
9.3.5.4.2 South Korea Risk Management Market by Deployment Model
9.3.5.4.3 South Korea Risk Management Market by Organization Size
9.3.5.4.4 South Korea Risk Management Market by Vertical
9.3.5.5 Singapore Risk Management Market
9.3.5.5.1 Singapore Risk Management Market by Component
9.3.5.5.2 Singapore Risk Management Market by Deployment Model
9.3.5.5.3 Singapore Risk Management Market by Organization Size
9.3.5.5.4 Singapore Risk Management Market by Vertical
9.3.5.6 Malaysia Risk Management Market
9.3.5.6.1 Malaysia Risk Management Market by Component
9.3.5.6.2 Malaysia Risk Management Market by Deployment Model
9.3.5.6.3 Malaysia Risk Management Market by Organization Size
9.3.5.6.4 Malaysia Risk Management Market by Vertical
9.3.5.7 Rest of Asia Pacific Risk Management Market
9.3.5.7.1 Rest of Asia Pacific Risk Management Market by Component
9.3.5.7.2 Rest of Asia Pacific Risk Management Market by Deployment Model
9.3.5.7.3 Rest of Asia Pacific Risk Management Market by Organization Size
9.3.5.7.4 Rest of Asia Pacific Risk Management Market by Vertical
9.4 LAMEA Risk Management Market
9.4.1 LAMEA Risk Management Market by Component
9.4.1.1 LAMEA Software Market by Country
9.4.1.2 LAMEA Service Market by Country
9.4.2 LAMEA Risk Management Market by Deployment Model
9.4.2.1 LAMEA On-premise Market by Country
9.4.2.2 LAMEA Cloud Market by Country
9.4.3 LAMEA Risk Management Market by Organization Size
9.4.3.1 LAMEA Large Enterprises Market by Country
9.4.3.2 LAMEA Small & Medium Enterprises Market by Country
9.4.4 LAMEA Risk Management Market by Vertical
9.4.4.1 LAMEA BFSI Market by Country
9.4.4.2 LAMEA Government & Defense Market by Country
9.4.4.3 LAMEA Energy & Utilities Market by Country
9.4.4.4 LAMEA Healthcare & Lifesciences Market by Country
9.4.4.5 LAMEA Manufacturing Market by Country
9.4.4.6 LAMEA Retail Market by Country
9.4.4.7 LAMEA IT & Telecom Market by Country
9.4.4.8 LAMEA Others Market by Country
9.4.5 LAMEA Risk Management Market by Country
9.4.5.1 Brazil Risk Management Market
9.4.5.1.1 Brazil Risk Management Market by Component
9.4.5.1.2 Brazil Risk Management Market by Deployment Model
9.4.5.1.3 Brazil Risk Management Market by Organization Size
9.4.5.1.4 Brazil Risk Management Market by Vertical
9.4.5.2 Argentina Risk Management Market
9.4.5.2.1 Argentina Risk Management Market by Component
9.4.5.2.2 Argentina Risk Management Market by Deployment Model
9.4.5.2.3 Argentina Risk Management Market by Organization Size
9.4.5.2.4 Argentina Risk Management Market by Vertical
9.4.5.3 UAE Risk Management Market
9.4.5.3.1 UAE Risk Management Market by Component
9.4.5.3.2 UAE Risk Management Market by Deployment Model
9.4.5.3.3 UAE Risk Management Market by Organization Size
9.4.5.3.4 UAE Risk Management Market by Vertical
9.4.5.4 Saudi Arabia Risk Management Market
9.4.5.4.1 Saudi Arabia Risk Management Market by Component
9.4.5.4.2 Saudi Arabia Risk Management Market by Deployment Model
9.4.5.4.3 Saudi Arabia Risk Management Market by Organization Size
9.4.5.4.4 Saudi Arabia Risk Management Market by Vertical
9.4.5.5 South Africa Risk Management Market
9.4.5.5.1 South Africa Risk Management Market by Component
9.4.5.5.2 South Africa Risk Management Market by Deployment Model
9.4.5.5.3 South Africa Risk Management Market by Organization Size
9.4.5.5.4 South Africa Risk Management Market by Vertical
9.4.5.6 Nigeria Risk Management Market
9.4.5.6.1 Nigeria Risk Management Market by Component
9.4.5.6.2 Nigeria Risk Management Market by Deployment Model
9.4.5.6.3 Nigeria Risk Management Market by Organization Size
9.4.5.6.4 Nigeria Risk Management Market by Vertical
9.4.5.7 Rest of LAMEA Risk Management Market
9.4.5.7.1 Rest of LAMEA Risk Management Market by Component
9.4.5.7.2 Rest of LAMEA Risk Management Market by Deployment Model
9.4.5.7.3 Rest of LAMEA Risk Management Market by Organization Size
9.4.5.7.4 Rest of LAMEA Risk Management Market by Vertical
Chapter 10. Company Profiles
10.1 RSA Security LLC (Symphony Technology Group)
10.1.1 Company Overview
10.1.2 SWOT Analysis
10.2 IBM Corporation
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional & Segmental Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Product Launches and Product Expansions:
10.2.5.2 Acquisition and Mergers:
10.2.6 SWOT Analysis
10.3 SAS Institute, Inc.
10.3.1 Company Overview
10.3.2 Recent strategies and developments:
10.3.2.1 Acquisition and Mergers:
10.3.3 SWOT Analysis
10.4 SAP SE
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 SWOT Analysis
10.5 ServiceNow, Inc.
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Regional Analysis
10.5.4 Research & Development Expenses
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.6 Qualys, Inc.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.5.2 Product Launches and Product Expansions:
10.6.5.3 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Thomson Reuters Corporation (The Woodbridge Company)
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 SWOT Analysis
10.8 NAVEX Global, Inc. (Lockpath)
10.8.1 Company Overview
10.8.2 Recent strategies and developments:
10.8.2.1 Product Launches and Product Expansions:
10.8.2.2 Acquisition and Mergers:
10.8.3 SWOT Analysis
10.9 MetricStream, Inc.
10.9.1 Company Overview
10.9.2 SWOT Analysis
10.10. LogicManager, Inc.
10.10.1 Company Overview
10.10.2 SWOT Analysis
Chapter 11. Winning Imperatives of Risk Management Market

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