Press release
Greatest Rise in Operational Risk Management Solution Market during 2021-2028 | MetricStream, Inc., RSA Security LLC, SAP SE.
The SAM operational risk management solution market is expected to grow from US$ 45.13 million in 2021 to US$ 74.35 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028.Artificial Intelligence (AI) is a powerful technology used across the industrial, business, consumer, and public sectors. AI is increasingly used in businesses to mitigate operational risk effectively. The application of AI holds great potential to enable intelligent risk management. Many industrial factories have implemented AI-based programs to reduce severe injuries and fatalities as part of targeted efforts to focus on risks with the highest potential consequences.
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Commercially available AI and machine learning (ML) advanced analytics solutions have been successfully applied to such programs. Further, identifying specific compliance requirements from environmental permits and other complex regulatory documents has been necessary in the undertaking of labor-intensive and error-prone. A compliance technology company provides a compliance automation solution, that uses AI technology to help solve this problem. The cloud-based platform implements Natural Language Processing (NLP) algorithms to interpret and extract Environmental, Health, and Safety (EHS) requirements. The requirements dramatically speed up and improve the accuracy of converting unstructured data contained in voluminous regulatory documents to a set of actionable compliance obligations.
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Major Key players covered in this report:
• Adapt IT Holdings Ltd
• Cura Global GRC Solutions PTE LTD
• MetricStream, Inc.
• RSA Security LLC
• SAP SE
• Shell International B.V.
• Sphera Solutions, Inc.
• TenForce
SAM Operational Risk Management Solution Market Segmentation
The SAM operational risk management solution market is segmented into deployment, enterprise size, and country. Based on deployment, the SAM operational risk management solution market is bifurcated into on-premise and cloud. The on-premise segment led the market in 2020; however, the cloud segment is expected to be the faster-growing segment during the forecast period. Based on enterprise size, the SAM operational risk management solution market is bifurcated into SMEs and large enterprise. The large enterprise segment led the market in 2020; however, the SMEs segment is expected to be the faster-growing segment during the forecast period. Based on country, the SAM operational risk management solution market is segmented into Brazil, Argentina, and the Rest of SAM.
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With the new features and technologies, vendors attract new customers to grow their footprints in emerging markets. This factor is likely to drive the SAM operational risk management solution market. The SAM operational risk management solution market is expected to grow at a substantial CAGR during the forecast period.
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