Escalating Cyberattack Incidents Fuel Expansion Of The Digital Risk Management Market: Strategic Insights Driving Digital Risk Management Market Momentum in 2025

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What Will the Digital Risk Management Industry Market Size Be by 2025?
The size of the digital risk management market has seen a swift expansion in the past couple of years. It is anticipated to escalate from a value of $11.89 billion in 2024 to reach a worth of $13.26 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.5%. The notable growth from the past times can be traced back to the rise in cyber threats, regulatory compliance requirements, the evolution of globalization and interconnectedness, as well as concerns over data sensitivity.

What's the Long-Term Growth Forecast for the Digital Risk Management Market Size Through 2029?
The size of the digital risk management market is projected to experience swift expansion in the upcoming years, increasing to a staggering $24.08 billion by the year 2029, boasting a compound annual growth rate (CAGR) of 16.1%. Factors contributing to this sizable growth during the forecast period include the augmentation of regulatory complexity, increased reliance on digital technologies, an emphasis on third-party risk management, and integration with enterprise risk management. The market's growth forecast also encompasses central trends such as the adoption of cloud-based solutions for digital risk management, the incorporation of artificial intelligence for risk evaluation, a primary focus on managing brand reputation, the use of big data analytics for insightful risk analysis, and the execution of incident response planning.

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What Are the Key Growth Drivers Fueling the Digital Risk Management Market Expansion?
The surge in cyberattack incidents is predicted to fuel the expansion of the digital risk management market in the future. Cyberattacks are purposeful, harmful activities conducted digitally by inflicting damage or gaining unauthorized entry to computer systems, networks, devices, or data. Digital risk management plays a vital role in cybersecurity, aiming to identify, evaluate, and reduce potential risks and threats that organizations confront in the digital sphere. For example, the Annual Cyber Threat Report 2021-2022 by the Australian Cyber Security Centre, a government agency in Australia, stated that in 2022, Australia logged an alarming 76,000 reports of cybercrime, a 13% rise from the 2021 fiscal year. Consequently, the surging incidents of cyberattacks are propelling the growth of the digital risk management market.

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What Are the Key Trends Driving Digital Risk Management Market Growth?
Leading firms in the digital risk management market are embracing a strategic alliance approach, in a bid to provide advanced digital risk management that addresses various significant industry requirements. Strategic alliances involve a process wherein companies utilize each other's strengths and assets for reciprocal benefits and success. For example, AOS DATA, Inc., a data asset management firm based in Japan, formed a partnership with CYFIRMA, a cybersecurity firm based in Singapore in December 2022. Through this collaboration, they aim to create novel solutions for the Attack Surface Analytics Service, which will offer next-generation digital risk management. This includes comprehensive risk assessment, providing organizations with an extensive overview of their digital footprint to detect vulnerabilities across multiple platforms. Moreover, it includes proactive threat intelligence, offering real-time insights into upcoming threats, thus enabling organizations to remain ahead of potential cyber risks.

How Is the Digital Risk Management Market Segmented?
The digital risk managementmarket covered in this report is segmented -

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

Subsegments:
1) By Software: Risk Assessment Software, Compliance Management Software, Threat Detection And Response Software, Identity And Access Management Software
2) By Services: Consulting Services, Implementation Services, Managed Services, Training And Support Services

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Which Companies Are Leading the Charge in Digital Risk Management Market Innovation?
Major companies operating in the digital risk management market report are 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

Which Regions Are Leading the Global Digital Risk Management Market in Revenue?
North America was the largest region in the digital risk management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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