Risk management is the method of identifying, controlling and assessing the risks of an organization’s profits and capital. These risks can come from a wide variety of sources such as natural disasters, financial uncertainty, accidents, strategic management mistakes and legal liabilities.
Risk management is the type of software that an organization uses to efficiently and effectively manage different types of risks. It measures risk processes and assists in providing perceptive action plans for current industry assessments. Risk management helps organizations increase their real time risk identification capabilities and efficiently improve decision making. It helps the organization analyze, integrate and visualize the value of risk management-focused efforts.
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The increase in data security breaches in businesses and the rise to strict compliance with government regulation are some of the key factors that will drive the growth of the risk management market. In addition, growth in the IoT landscape and increasing adoption of risk management in financial institutions are stimulating market growth. However, the high cost and complexity of software installation and configuration and less security provided by risk management are hindering market growth.
Moreover, the increasing demand form in developing economies and the integration of artificial intelligence into risk management are expected to provide key opportunities for the growth of the risk management market during the forecast period.
Global risk management is segmented based on component, mode of deployment, organizational size, industry vertical and region. In component terms, it is split into software and services. In terms of deployment mode, the market is split into on-premise and cloud. According to the size of the organization, it is divided into large enterprises and small and medium enterprises. Based on the industry vertical, it is classified into BFSI, IT & telecom, retail, healthcare, energy and utilities, manufacturing, government and defense and more. By region, it is evaluated across North America, Europe, Asia-Pacific, and LAMEA.
The major 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.
Key benefits for stakeholders
• The study provides an in-depth analysis of the global risk management market along with current and future trends to explain the impending investment pockets.
• Information on key drivers, restraints, and opportunities and their analysis of the impact on market size is provided in the report.
• Porter’s five forces analysis describes the potency of the buyers and suppliers operating in the industry.
• Quantitative analysis of the global risk management market for the period 2018–2026 is provided to determine the market potential.
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Key market segments
By Component
• Software
• Service
Via Deployment Mode
• On Premises
• Clouds
According to the Size of the Organization
• Large Business
• Small and Medium Businesses
By Industry vertical
• BFSI
• IT and Telecom
• Tingi
• Taking care of your health
• Energy and Utilities
• Labor
• Government and Defense
• Others
By Region
• North America
or US
or Canada
• Europe
of the UK
or Germany
or France
or Other parts of Europe
• Asia-Pacific
or China
of India
of Japan
or Other parts of the Asia-Pacific
• LAMEA
or Latin America
or Middle East
of Africa
MAJOR PLAYERS IN THE MARKET
• IBM Corporation
• Lockpath, Inc.
• LogicManager, Inc.
• MetricStream Inc.
• Qualys, Inc.
• SAP SE
• SAS Institute Inc.
• Service Today
• RSA Security LLC
• Thomson Reuters
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