Operational Risk Management Solution Market is anticipated to Create a value opportunity of around USD 3.6 billion by 2031 | Corporater AS (Norway), Cura Global GRC Solutions PTE LTD (Singapore), MasterControl Inc. (US)

The global operational risk management solution market was valued at US$ 1.7 billion in 2021 and it is anticipated to grow up to US$ 3.6 billion by 2031, at a CAGR of 8.1% during the forecast period.

To Remain 'Ahead' Of Your Competitors, Request for A Sample - https://www.globalinsightservices.com/request-sample/GIS10396

Operational risk management solutions enable an organization to develop and implement strategies to effectively manage the risk of loss resulting from inadequate or failed internal processes and systems. Operational risk management solutions are the new differentiator. Digitally transforming and integrating operational risk management (ORM) strategies, processes & tools provide plant leaders with intelligence to navigate risks, maintain governance & controls, and drive continuous performance improvements. Additionally, ORM software solution helps create an automated, repeatable risk assessment system that mitigates human error factors or external events.

Market Drivers and Trends

Over the past few years, the financial sector has emerged and grown rapidly. For instance, according to the article published by the Milan Fintech Summit, the number of global fintech startups tripled in the past 2 years, increasing from over 12,200 in 2019 to 26,000 in 2021. Also, due to the continuous technological changes and innovation, new risks are constantly emerging in the fintech companies, such as merchant risk, fraud risk, regulatory risk, countering terrorist financing & anti-money laundering, credit risk, data privacy, consumer risks, and outsourcing risk. All these risks can be effectively handled with the help of operational risk management solutions.

View Detailed Report Description - https://www.globalinsightservices.com/reports/operational-risk-management-solution-market/

The increase in the new fintech companies has also increased the risks and challenges, which must be appropriately addressed as they may represent themselves in several types. The rapid pace of innovation not only poses difficulties to the financial companies but also to the regulators. Several companies providing operational risk management solutions for fintech companies include MetricStream, CURA Software Solutions, CAREWeb, and SAP SE. Further, in August 2021, HDFC Bank (India's largest private sector bank) adopted Bloomberg's multi-asset risk management system in its technology stack, preparing to transition to risk-free rates (RFR). Therefore, the increasing adoption of operational risk management solutions in fintech companies due to multiple benefits supports the growth of the global operational risk management solution market.

Major Players in the Global Operational Risk Management Solution Market

The key players studied in the global operational risk management solution market are Corporater AS (Norway), Cura Global GRC Solutions PTE LTD (Singapore), MasterControl Inc. (US), MetricStream, Inc. (US), Northern Trust Corporation (US), RSA Security LLC (US), SAP SE (Germany), Shell (UK), Sphera Solutions, Inc. (US), and TenForce (Belgium).

Get a customized scope to match your need, ask an expert - https://www.globalinsightservices.com/request-customization/GIS10396

COVID-19 Impact

The COVID-19 pandemic had forced companies to adopt work-from-home trends. In 2020, the COVID-19 pandemic created an enormous challenge for global businesses to continue operating despite massive shutdowns of offices and other facilities. The changing nature of working style affected information technology (IT) security. Therefore, organizations witnessed an increased risk of cyberattacks due to the extensive use of open-source software or apps, such as zoom and skype, during remote working. Furthermore, the surge in digital traffic presented an opportunity for numerous online frauds, phishing attacks, denial of inventory, and ransomware attacks. Due to the increased risk of cybercrimes, enterprises look for advanced operational risk management solutions to detect and manage any abnormal behavior in the networks. Thus, the growing remote working facility is rising the global operational risk management solution market growth.

Similarly, in 2021 and 2022, the demand for operational risk management solutions increased due to enterprises' rising trend of hybrid working styles. The digital transformation of businesses in several industries such as BFSI, pharmaceutical, and transportation & logistics support the growth of the global operational risk management solution market.

Global Operational Risk Management Solution Market Segmentation

By Deployment Type

On-Premise
Cloud-Based

By Enterprise Size

Large Enterprises
SMEs

Buy Now - https://www.globalinsightservices.com/checkout/single_user/GIS10396

With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

New Report Published by Global Insight Services -https://www.globalinsightservices.com/reports/hydrogen-projects-database/?utm_source=utm_source%3Dopenpr_pranali_pawar&utm_medium=member_desktop

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

This release was published on openPR.