Risk management is the procedure of identifying, controlling and assessing of risks of an organization’ earnings and capital. These risks could stem from a wide variety of sources such as natural disasters, financial uncertainty, accidents, strategic management errors and legal liabilities.
Risk management is the type of software which are used by organization to efficiently and effectively manage different types of risks. It measures risk processes and helps in providing perceptive action plans for the current industry assessments. Risk management helps organization to increase their capabilities in recognizing real time risk and efficiently improving decision making. It helps the organization to analyze, aggregate and visualize the value of the efforts devoted in risk management.
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Increase in data security breaches in enterprises and surge in stringent government regulatory compliances are some of the major factors which will drives the growth of the risk management market. In addition, growth in IoT landscape and rising adoption of risk management in financial institution fuels the growth of the market. However, high cost and complexity in installation and configuration of the software and less security provided by the risk management hampers the growth of the market.
Furthermore, rising demand form developing economies and integration of artificial intelligence in risk management are expected to provide major opportunities for the growth of the risk management market during the forecast period.
The global risk management is segmented based on component, deployment mode, organization size, industry vertical and region. In terms of component, it is segmented into software and services. In terms of deployment mode, the market is segmented into on-premise and cloud. As per organization size, it is bifurcated into large enterprises and small & medium enterprises. Based on industry vertical, it is classified into BFSI, IT& telecom, retail, healthcare, energy & utilities, manufacturing, government & defense and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the risk management market analysis are IBM Corporation, Lockpath, Inc., LogicManager, Inc., MetricStream Inc., Qualys, Inc., SAP SE, SAS Institute Inc., ServiceNow, RSA Security LLC and Thomson Reuters. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Key benefits for stakeholders
• The study provides an in-depth analysis of the global risk management market along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global risk management market for the period 2018–2026 is provided to determine the market potential.
Key market segments
By Deployment Mode
By Organization Size
• Large Enterprises
• Small and Medium Enterprises
By Industry vertical
• IT & Telecom
• Energy & Utilities
• Government & Defence
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
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KEY MARKET PLAYERS
• IBM Corporation
• Lockpath, Inc.
• LogicManager, Inc.
• MetricStream Inc.
• Qualys, Inc.
• SAP SE
• SAS Institute Inc.
• RSA Security LLC
• Thomson Reuters