Global Financial Risk Management Consulting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Financial Risk Management Consulting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Financial risk management consulting refers to consulting agencies that provide services to identify, evaluate, manage, report and limit the financial risks they face. As global concerns about financial risks increase, financial risk management consulting helps companies build a financial risk management framework and improve compliance.

Market Overview:

The latest research study on the global Financial Risk Management Consulting market finds that the global Financial Risk Management Consulting market reached a value of USD 8412.79 million in 2022. It’s expected that the market will achieve USD 17469.4 million by 2028, exhibiting a CAGR of 12.95% during the forecast period.

According to historical data, the development of the consulting industry is closely related to the development of the global economy. During the economic boom, organizations enjoyed higher revenues and budgets, which provided a financial basis for increasing consulting expenditures. Conversely, economic downturns usually cause organizations to reduce spending, which in turn leads to budget cuts, including consulting spending.

The impact of COVID-19 on the global economy has been fully demonstrated. In recent years, the global management consulting business has been growing at a steady rate. However, due to this epidemic, the industry has encountered obstacles this year. It is expected that the global economy will decline and will affect the financial risk management consulting industry.

Macroeconomic fluctuations

The recent economic and political turmoil that has prevailed around the world, the decline in oil prices and other commodity prices, and exchange rate fluctuations have had a significant impact on many companies. The increase in these financial risks requires companies to re-examine strategies related to these risks and adopt financial risk management measures.
The development of the financial industry has also brought a series of risks, and the importance of financial risk management has become increasingly prominent
The financial industry has developed rapidly in recent years, and economic development has provided new opportunities for the financial industry. At the same time, the probability of occurrence of economic risks has also shown an upward trend, which highlights the importance of financial risk management. Adopting relevant policies and countermeasures to reduce the occurrence of financial risks is the ultimate goal of financial risk management. Complexity, concealment, fickleness, etc. are all characteristics of financial risks. Financial risk management should be combined with their characteristics to find and implement reasonable financial risk management measures to ensure the smooth operation of the economy.

Enterprises have put forward higher and higher requirements for the professional ability of management consultants

On the one hand, management consulting practitioners not only need to have higher analytical skills, communication skills and professional ethics, but also need to have more professional knowledge and rich experience. On the other hand, since the management consulting industry in emerging markets is still in the development stage, there is still a lack of high-quality management consulting talents.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview

Ernst & Young is one of the major players operating in the Financial Risk Management Consulting market, holding a share of 9.71% in 2022.

Ernst & Young

EY provides professional services. The Company offers assurance, audit, tax, financial, and business advisory services to automotive, financial, government, entertainment, mining, real estate, technology, and telecommunication industries. EY serves customers worldwide.

Deloitte

Deloitte provides professional services. Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services.

Segmentation Overview:

By type, Market and Credit Risk segment accounted for the largest share of market in 2021.

Market and Credit Risk

Market risk is the possibility of an investor experiencing losses due to factors that affect the overall performance of the financial markets in which he or she is involved. Credit risk is the possibility of a loss resulting from a borrower is failure to repay a loan or meet contractual obligations. Credit risk means the chance that you won not get all your money back, market risk means the risk that the value of your investment can fluctuate.

Capital Management, Liquidity and Treasury Risk

Liquidity and Capital Risk is generally defined as the risk associated with an enterprise is ability to convert an asset or security into cash to prevent a loss. Treasury Risk is the risk associated with the management of an enterprise's holdings-ranging from money market instruments through to equities trading.

Accounting and Financial Reporting Risk

Financial reporting risk refers to the risk of serious errors in financial reports.

Application Overview:

By application, the SMEs segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Financial Risk Management Consulting market covered in Chapter 3:

Deloitte
Boston Consulting Group
Ernst & Young
Willis Towers Watson
Guidehouse
Crowe
Capgemini
PricewaterhouseCoopers
Bain & Company
KPMG
Kearney
Aon
IBM
McKinsey & Company

In Chapter 4 and Chapter 14.2, on the basis of types, the Financial Risk Management Consulting market from 2018 to 2029 is primarily split into:

Market and Credit Risk
Capital Management, Liquidity and Treasury Risk
Accounting and Financial Reporting Risk

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Financial Risk Management Consulting market from 2018 to 2029 covers:

Large Business
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)