Enterprise Risk Management Global Market Expected to Witness $6.59 Billion with Impressive Growth at a 6.5% CAGR By 2028 | Oracle Corporation, SAP SE, Capgemini SE, Infosys Limited, OneTrust LLC

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Enterprise Risk Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.59 billion In 2028 At A CAGR Of 6.5% :

The enterprise risk management market size has grown steadily in recent years. It will grow from $4.89 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to regulatory compliance requirements, cybersecurity threats, business continuity planning, data analytics and insights, supply chain disruptions.

The enterprise risk management market size is expected to see strong growth in the next few years. It will grow to $6.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to emergence of new risks, pandemic preparedness, regulatory changes and complexity, crisis management and response. Major trends in the forecast period include integration with emerging technologies, cybersecurity risk management, integration of artificial intelligence (AI) and machine learning (ML), climate change and ESG (environmental, social, governance) risks, third-party risk management.

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Enterprise Risk Management Market Major Segments
The enterprise risk management market covered in this report is segmented -
1) By Deployment: Cloud, On-Premises
2) By Component: Hardware, Software, Services
3) By Industry Vertical: BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense

Key Driver - Rising Data Security Breaches Fueling Growth In Enterprise Risk Management Market

The surge in data security breaches in enterprises is driving the enterprise risk management market. A data breach is a situation in which information is taken from a system without the owner's knowledge or consent. Data security breaches are increasing due to weak and stolen credentials, application vulnerabilities, malware, malicious insiders, insider error and others. Enterprise risk management helps to recognize, evaluate, and get ready for prospective losses that may arise due to data security breaches. For instance, in 2021 according to the Identity Theft Resource Center (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, data breaches in 2021 surpassed the total number in 2020 by 17%. Therefore, a rise in data security breaches will propel the enterprise risk management market growth.

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Prominent Trend - Strategic Partnerships Drive Market Expansion In Enterprise Risk Management Sector

The strategic partnership is a key trend gaining popularity in the enterprise risk management market. Companies operating in the enterprise risk management sector are entering into strategic partnerships to leverage each other's resources and expand into new markets. For instance, in August 2021, Galvanize, a US-based software as a service company that builds security, risk management, compliance, and audit software for the governance, risk management, and compliance (GRC) market, partnered with Turnkey. Through this partnership, Turnkey will include Galvanize's HighBond platform in its extensive lineup of tech-enabled solutions for customers. Turnkey is a London-based provider of Integrated Risk Management (IRM), Identity Access Management (IAM) and cyber and application Security.

Enterprise Risk Management Market Players
Major companies operating in the enterprise risk management market report are Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Infosys Limited, Fidelity National Information Services Inc., Thomson Reuters Corporation, Wolters Kluwer N.V., ACL Services Ltd., RSA Security LLC, OneTrust LLC, MetricStream Inc., NAVEX Global Inc., Cority Inc., Riskonnect Inc., Enablon Inc., GRC Solutions Inc., Galvanize Inc., Resolver Inc., ProcessUnity Inc., LockPath Inc., Aravo Solutions Inc., BWise Inc., LogicManager Inc., LogicGate Inc., Quantivate Inc., SAI Global Pty. Ltd., Optial Inc., Rsam LLC, Ideagen Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the enterprise risk management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Enterprise Risk Management Market Report Structure
3. Enterprise Risk Management Market Trends And Strategies
4. Enterprise Risk Management Market - Macro Economic Scenario
5. Enterprise Risk Management Market Size And Growth
…..
27. Enterprise Risk Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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