Global Digital Risk Management Market Research With Size, Growth, Key Players, Segments And Forecast To 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 presents an extensive market research report on the Digital Risk Management Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The digital risk management market size has grown rapidly in recent years. It will grow from $10.58 billion in 2023 to $11.89 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to increasing cyber threats, regulatory compliance mandates, globalization and interconnectedness, data sensitivity concerns.

Digital Risk Management Market Full Report: https://www.thebusinessresearchcompany.com/report/digital-risk-management-global-market-report

The digital risk management market size is expected to see rapid growth in the next few years. It will grow to $20.42 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to increased regulatory complexity, growing dependency on digital technologies, focus on third-party risk management, integration with enterprise risk management.. Major trends in the forecast period include rise of cloud-based digital risk management solutions, application of artificial intelligence in risk assessment, focus on brand reputation management, utilization of big data analytics for risk insights, implementation of incident response planning..

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Key Market Players:
Microsoft Corporation, The International Business Machines Corporation, Oracle Corporation, Broadcom Inc., SAP SE, ServiceNow Inc, Rsam, SAS Institute Inc., Proofpoint Inc., RSA Security LLC, Optiv Security Inc, Rapid7, Qualys Inc., OneTrust, Metricstream, NAVEX Global Inc., Riskonnect Inc., ZeroFox Holdings Inc, SecurityScorecard, Archer Technologies LLC, Galvanize, LogicGate Inc., Resolver Inc., BitSight, Hyperproof Inc., OTORIO, Fastpath Solutions LLC, ProcessUnity, LogicManager Inc., Apptega are prominent players in the industry.

Market Drivers:
The increased number of cyberattack cases are expected to propel the growth of the digital risk management market going forward. Cyberattacks refer to deliberate, malicious activities carried out in the digital world by damaging or gaining unauthorized access to computer systems, networks, devices, or data. Digital risk management is a crucial aspect of cybersecurity, focused on identifying, assessing, and mitigating potential risks and threats that organizations face in the digital realm. For instance, in 2022, according to the Annual Cyber Threat Report 2021-2022 by the Australian Cyber Security Centre, an Australia-based government agency, Australia recorded a staggering 76,000 cybercrime reports, representing a 13% increase from the 2021 financial year. Therefore, the increased number of cyberattacks is driving the growth of the digital risk management market.

Market Segments Include:
1) By Component: Software, Services
2) By Deployment: Cloud, On-Premises
3) By Enterprise Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services and Insurance (BFSI), Information Technology(IT) And Telecom, Healthcare, Retail, Manufacturing, Other Industry

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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