Strategic Forecast for the Operational Risk Management Solution Industry: Market Outlook 2025-2034

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Operational Risk Management Solution Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a significant growth in the market size of operational risk management solutions. The market value forecasted for 2024 is $2.05 billion, with an anticipated growth to reach $2.25 billion in 2025, thanks to a compound annual growth rate (CAGR) of 10.0%. Several factors contributed to this growth in the historic period, including an increase in the demand for operational risk management solutions, greater implementation of these solutions by large corporations, the necessity to address operational risks, and strict regulatory obligations.

How Will the Operational Risk Management Solution Market Size Evolve and Grow by 2029?
Expectations are high for substantial growth in the operational risk management solution market size in the coming years. The projection is that by 2029, it will expand to $3.27 billion, with a compound annual growth rate (CAGR) of 9.8%. This predicted growth in the forecast period is due to an increase in cyber-attacks across various entities, stronger government compliance towards strict industry rules, rising instances demanding risk analytics, and a significant increase in the effects of inadequate risk management. The forecast period will also witness several trends such as advancements in technology propelling growth, the launch of new products, upgrading existing products, the adoption of hybrid work models, and the incorporation of artificial intelligence into operational risk management.

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What Drivers Are Propelling the Growth of Operational Risk Management Solution Market Forward?
The operational risk management solution market is projected to grow due to an increase in cyber attacks. These attacks are malevolent and purposeful exploitations of weaknesses in computer systems, networks or digital infrastructure, with the objective to disrupt normal operations, gain unauthorized access to data, or cause harm. Operational risk management solutions play an essential role in actively recognizing, evaluating, and reducing potential vulnerabilities within a company's digital infrastructure. The goal is to bolster resilience, safeguard sensitive information, and curtail the effects of cyber threats on operational continuity. In July 2023, the International Business Machines Corporation, a technology company based in the US, reported that the total number of cybersecurity vulnerabilities monitored grew significantly by 11% from 21,518 in 2021 to 23,964 in 2022. Consequently, the escalation of cyber attacks is fueling the drive towards operational risk management solution market growth.

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Which Emerging Trends Are Transforming the Operational Risk Management Solution Market in 2025?
Leading organizations engaged in the operational risk management solution market are emphasizing on product advancement, such as risk-based observing solutions, to promote smart decision-making, elevate compliance, and boost study efficiency. The risk-based monitoring solution is a method driven by data that applies machine learning and AI to supervise study and site risks involved in clinical trials remotely. For example, in April 2022, Tata Consultancy Services (TCS), an IT firm based in India, introduced a risk-based monitoring solution for clinical trials called the TCS ADD suite. This aids in transforming clinical operational analytics and bettering study quality. The software applies machine learning and AI to remotely supervise study and site risks and uplift study efficiency. It assists biopharmaceuticals and contract research organizations (CROs) in pinpointing study and site risks by way of sophisticated statistical algorithms and encouraging smart decisions driven by data. The risk-based monitoring solution, which is steered by data science, exactly foresees outcomes related to site workload and risks, thus allowing stakeholders to construct proactive monitoring approaches.

What Are the Key Segments in the Operational Risk Management Solution Market?
The operational risk management solution market covered in this report is segmented -

1) By Type: Risk Assessment And Mitigation Tools, Compliance Risk Management Software, Operational Risk Management Software, Risk Management Frameworks, Other Types
2) By Deployment: On-Premise, Cloud
3) By Enterprise Size: Small And Medium-Sized Enterprise (SME), Large Enterprise

Subsegments:
1) By Risk Assessment And Mitigation Tools: Risk Identification Tools, Risk Analysis Tools, Risk Prioritization Tools, Risk Monitoring Tools
2) By Compliance Risk Management Software: Regulatory Compliance Tracking, Compliance Reporting Tools, Audit Management Tools, Policy Management Tools
3) By Operational Risk Management Software: Risk Data Aggregation Tools, Key Risk Indicator (KRI) Monitoring, Loss Event Tracking, Scenario Analysis Tools
4) By Risk Management Frameworks: Risk Governance Frameworks, Risk Management Standards, Risk Culture Frameworks, Enterprise Risk Management Frameworks
5) By Other Types: Third-Party Risk Management Solutions, Business Continuity Planning Tools, Crisis Management Solutions, Incident Management Software

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Who Are the Key Players Shaping the Operational Risk Management Solution Market's Competitive Landscape?
Major companies operating in the operational risk management solution market report are International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, SAP SE, Fidelity National Information Services Inc., Wolters Kluwer N.V., Genpact Limited, SAS Institute Inc., Verint Systems Inc., Diligent Corporation, NAVEX Global Inc., Sphera Solutions Inc., MetricStream Inc., ACL Services Ltd., Ideagen Plc, Riskonnect inc., MEGA International Srl, Ncontracts LLC, Archer Technologies LLC, Resolver Inc., Origami Risk LLC, LogicManager Inc., Cura Global GRC Solutions Pte Ltd., TENFORCE, Quantivate LLC, SAI Global Pty Limited, ProcessUnity Inc., RiskWatch International LLC

What Geographic Markets Are Powering Growth in the Operational Risk Management Solution Market?
North America was the largest region in the operational risk management solution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the operational risk management solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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