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

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Risk Management Market Size Growth Forecast: What to Expect by 2025?
The expansion of the risk management market has been swift in the past few years. The market, valued at $12.09 billion in 2024, is projected to reach $13.78 billion by 2025, registering a compound annual growth rate (CAGR) of 14.0%. Factors such as more strict regulatory stipulations, advances in insurance, more frequent financial crises, and the impact of globalization, have all contributed to the historical growth pattern.

How Will the Risk Management Market Size Evolve and Grow by 2029?
The market size for risk management is predicted to experience a swift expansion in the following years, anticipating to reach $21.62 billion by 2029 with an 11.9% Compound Annual Growth Rate (CAGR). The predicted growth within the forecast period is due to a surge in cybersecurity threats, escalating economic instability, and rising health and safety concerns. Noteworthy trends to expect within the forecast period encompass integration of AI and machine learning, cybersecurity threats, risks associated with climate change and the environment, resilience of the supply chain, regulatory compliance, and operational robustness.

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What Drivers Are Propelling the Growth of Risk Management Market Forward?
The escalation of cyber threats is anticipated to fuel the progression of the risk management market. Cyber threats essentially represent malicious actions or hazards which exploit weaknesses in computer systems, networks, or digital equipment for a variety of reasons, including monetary benefit, espionage, operational disruption, or damage to reputation. The attack surface has been expanded due to an increase in digitization in society, offering by cybercriminals a wider range of targets to exploit. Risk management methodologies allow organizations to recognize and comprehend the wide range of cyber threats they contend with, such as malware, phishing attacks, data breaches, and inside threats. For example, the Australian Cyber Security Centre, a cyber security agency based in Australia, reported in November 2022 that the incidents of cyber crime received in that year were 76,000, showing a 13% increase from the previous year. Thus, the escalation in cyber threats is stimulating the expansion of the risk management market.

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Which Emerging Trends Are Transforming the Risk Management Market in 2025?
Leading corporations in the risk management sector are introducing innovations like enterprise risk management (ERM) automation tools to give them the upper hand in the market. An ERM automation tool is a software application designed to assist businesses, notably in the tech industry, to automate their risk management procedures. For example, in January 2024, US-based Insurtech Koop Insurance introduced a groundbreaking ERM automation tool. This innovation, targeted at providing tech customers with a pleasant risk management experience, encompasses features such as managing contractual requirements, risk event reporting, control implementation, and smart coverages. The objective of this tool is to assist tech businesses in handling risks proficiently and flexibly, remain adaptable, and uphold their competitive edge in the fast-paced tech market.

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

1) By Component: Solution, Services, Professional, Managed
2) By Deployment Mode: Cloud-based, On-premises
3) By Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecom, Healthcare, Retail, Manufacturing, Government And Defense, Transport And Logistics, Energy And Utilities, Other Verticals

Subsegments:
1) By Solution: Risk Assessment Software, Compliance Management Software, Incident Management Software, Fraud Detection Solutions, Enterprise Risk Management (ERM) Solutions
2) By Services: Risk Consulting Services, Risk Assessment Services, Training And Education Services, Implementation Services
3) By Professional: Risk Management Advisors, Compliance Officers, Risk Analysts, Auditors
4) By Managed: Managed Risk Services, Outsourced Risk Management Solutions, Managed Security Services

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Who Are the Key Players Shaping the Risk Management Market's Competitive Landscape?
Major companies operating in the risk management market are Berkshire Healthway Inc., Allianz SE, AXA SA, plc, Tokio Marine Holdings, Deloitte Touche Tohmatsu Limited, PwC (PricewaterhouseCoopers), Liberty Mutual Insurance, Ernst & Young (EY), Chubb Limited, Zurich Insurance Group, Travelers Companies Inc., KPMG, Capgemini SE, Catlin Group Limited, Marsh & McLennan Companies, Aon plc, Willis Towers Watson, Gallagher, FM Global, Genpact, Munich Re Group, Hiscox Ltd., RSA Insurance Group, Lockton Companies, Verisk Analytics Inc., Protiviti Pvt. Ltd., SAI Global, Swiss Re Ltd., Risk Management Solutions (RMS)

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

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