Global Non-Financial Risk Management Consulting Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Non-Financial Risk Management Consulting Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Non-Financial Risk Management Consulting, also known as Operational Risk Management Consulting, refers to a specialized advisory service provided by consulting firms to help organizations identify, assess, mitigate, and manage risks that are not directly related to financial markets or transactions. These non-financial risks encompass a wide range of operational, strategic, regulatory, and reputational risks that can impact an organization's performance, resilience, and reputation.

Market Overview:

The latest research study on the global Non-Financial Risk Management Consulting market finds that the global Non-Financial Risk Management Consulting market reached a value of USD 48677.06 million in 2023. It’s expected that the market will achieve USD 76913.23 million by 2029, exhibiting a CAGR of 7.92% during the forecast period.

The conflict between Russia and Ukraine has exposed new economic uncertainties, because both Russia and Ukraine are important global suppliers. Risk management consulting providers are very suitable for providing important insights and analysis in such a period. Their new priorities include strengthening scenario planning, investigating new and expected risks, cutting costs and planning divestment when necessary. With the renewed attention to these areas, the non-financial risk management consulting industry may still maintain its growth track in the uncertainty.

Driver

1. The awareness of downstream organizations to strengthen non-financial risk management is constantly increasing
2. Reform of Basel agreement: This reform has recently culminated in the finalization of the Basel framework, which introduces substantial changes to the calculation of operational risk capital (ORC) in many financial institutions.
3. The enhancement of automation and digital processes in the financial sector is driving the Non-Financial Risk (NFR) Management Consulting industry

Restraints

1. Banks take their own initiative in a fragmented IT market: The Non-Financial Risk Management Consulting market faces a notable restraint due to the fact that banks often take their own initiative in a highly fragmented IT market.
2. In the corporate world, budget constraints often compel organizations to make strategic decisions about resource allocation.

Trends

1. Holistic Risk Management: The trend towards holistic risk management is gaining momentum as organizations increasingly recognize the need to integrate Non-Financial Risk (NFR) management into their broader risk management strategies.
2. Enabling technology and analytics to power the risk function

Region Overview:

Asia Pacific had the highest growth rate of all regions in 2022.

In 2022, the share of the Non-Financial Risk Management Consulting market in North America stood at 37.83%.

Company Overview:

Deloitte is one of the major players operating in the Non-Financial Risk Management Consulting market, holding a share of 13.61% in 2023.

Deloitte, PwC, EY, KPMG and Accenture are the five key players in the global Non-Financial Risk Management Consulting market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Non-Financial Risk Management Consulting market in the past 5 years.

Segmentation Overview:

The Operational Resilience Regulatory & Compliance segment by type showed a value growth of 14.76% in 2022.

Among different product types, Operational Resilience Regulatory & Compliance segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the SMEs segment occupied the biggest share from 2018 to 2022.

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

KPMG
Guidehouse
New Link Consulting
Aon
Baringa
BCG
Accenture
Capgemini
PA Consulting
Advisense
IBM
Implement
EY
PwC
Deloitte
Oliver Wyman
Crowe
McKinsey & Company
Protiviti
Willis Towers Watson

In Chapter 4 and Chapter 14.2, on the basis of types, the Non-Financial Risk Management Consulting market from 2019 to 2030 is primarily split into:

Conduct Risk
Reputational Risk
Third-party Risk
Enterprise Risk Management
Financial Crime
Operational Resilience Regulatory & Compliance
Digital Risk

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Non-Financial Risk Management Consulting market from 2019 to 2030 covers:

Large Business
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) 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)