Enterprise Risk Management Market Growth Analysis, Top Segments, Research Report 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Enterprise Risk Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The enterprise risk management market size has grown steadily in recent years. It will grow from $4.89 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to regulatory compliance requirements, cybersecurity threats, business continuity planning, data analytics and insights, supply chain disruptions.

The enterprise risk management market size is expected to see strong growth in the next few years. It will grow to $6.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to emergence of new risks, pandemic preparedness, regulatory changes and complexity, crisis management and response. Major trends in the forecast period include integration with emerging technologies, cybersecurity risk management, integration of artificial intelligence (AI) and machine learning (ML), climate change and ESG (environmental, social, governance) risks, third-party risk management.

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Market Segmentation:
The enterprise risk management market covered in this report is segmented -
1) By Deployment: Cloud, On-Premises
2) By Component: Hardware, Software, Services
3) By Industry Vertical: BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense

Major Driver - Rising Data Security Breaches Fueling Growth In Enterprise Risk Management Market
The surge in data security breaches in enterprises is driving the enterprise risk management market. A data breach is a situation in which information is taken from a system without the owner's knowledge or consent. Data security breaches are increasing due to weak and stolen credentials, application vulnerabilities, malware, malicious insiders, insider error and others. Enterprise risk management helps to recognize, evaluate, and get ready for prospective losses that may arise due to data security breaches. For instance, in 2021 according to the Identity Theft Resource Center (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, data breaches in 2021 surpassed the total number in 2020 by 17%. Therefore, a rise in data security breaches will propel the enterprise risk management market growth.

Competitive Landscape:
Major companies operating in the enterprise risk management market report are Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Infosys Limited, Fidelity National Information Services Inc., Thomson Reuters Corporation, Wolters Kluwer N.V., ACL Services Ltd., RSA Security LLC, OneTrust LLC, MetricStream Inc., NAVEX Global Inc., Cority Inc., Riskonnect Inc., Enablon Inc., GRC Solutions Inc., Galvanize Inc., Resolver Inc., ProcessUnity Inc., LockPath Inc., Aravo Solutions Inc., BWise Inc., LogicManager Inc., LogicGate Inc., Quantivate Inc., SAI Global Pty. Ltd., Optial Inc., Rsam LLC, Ideagen Ltd.

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Top Trend - Innovations In Enterprise Risk Management With Cutting-Edge Technologies
Major Companies operating in the enterprise risk management market are innovating new technologies such as third-party risk management (TPRM) to sustain in the market. Third-party risk management (TPRM) is a crucial aspect of safeguarding any organization, and choosing the right solution can make all the difference. For instance, in August 2022, AuditBoard, a US-based, audit and risk management company, Launches Third-Party Risk Management Solution, Empowering Enterprises to tackle IT vendor risk at scale. With this potent new addition to AuditBoard's linked risk platform, third-party risk management programs may scale more effectively and satisfy the expanding demands of their business by dismantling organizational silos and including pertinent stakeholders both inside and outside the company.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Enterprise Risk Management Market Characteristics
3. Enterprise Risk Management Market Trends And Strategies
4. Enterprise Risk Management Market - Macro Economic Scenario
5. Enterprise Risk Management Market Size And Growth
…..
27. Enterprise Risk Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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