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Risk Management Market Top Participant To Focus On Regional Expansion the COVID-19

The global risk management market should reach $17.1 billion by 2021 from $11.0 billion in 2016 at a compound annual growth rate (CAGR) of 9.2%, from 2016 to 2021.

Report Scope:

This report focuses on the global markets for risk management technologies. Enterprise risk has varied definitions and interpretations among organizations depending on their size, industry and risk maturity. The market for ERM technologies has transformed from a tactical focus to meet regulatory compliances to a more strategic approach on enterprise-wide risk management. Consequently, modern ERM applications focus on addressing the dynamic and unique needs of organizations by offering a comprehensive suite of applications, including risk assessment, modeling, reporting and mitigation. This represents a radical change in the dynamics as the majority of ERM platform providers use to offer different components of risk management as individual products.

The term “technologies” in this report covers applications and services that automate the management, measurement, remediation and reporting of risks against specific objectives.
Important notes regarding assumptions, market estimates and coverage of risk tools/applications are listed below –

– Market size includes the revenue earned/customer spend on risk management solutions, which are categorized below. Revenue values are in U.S. dollars, unadjusted for inflation.
– Enterprise software solutions: Combining risk management content and data with risk management software to provide an integrated “one-stop-shop” for risk technology buyers. A combination of functionally rich risk applications with comprehensive data management, risk analytics, business intelligence and reporting technologies
– Stand-alone tools: Function and domain specific tools such as banking (stress testing, credit portfolio analysis, capital estimation, credit collection and recovery), insurance (solvency regulation), healthcare (Medicaid audits), oil and gas (environment, health and safety or EHS), manufacturing (quality management).
– Analytics and database management solutions linked with risk management tool for modeling and predictions.
– GUI-based dashboard, reporting and presentation tools.
– Market estimates also include user spending for support services, integration and consultation as they are used in conjunction with the software/tools.
– Market estimates do not include hardware.
– This market is based on the summation of ERM revenues earned by the ERM technology providers, and it excludes applications developed in-house and solely for exclusive use.

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Report Includes:

– An overview of the global markets for risk management.
– Analysis of global market trends, with data from 2015, 2016, and CAGRs through 2021.
– Extensive analysis of factors like economic slowdown, regulatory changes, rising competition, disruptive technologies, capital unavailability, fraud, cyber threat, natural calamities, drop in oil prices, and market volatility
– Information covering the influences of mobile technology, cloud computing, social media, (e.g., social media data and/ or analytics), artificial intelligence, and real-time and high-performance computing
– Coverage of Financial Risk Management (credit, liquidity, assets etc.) and Operational (product failure, customer satisfaction, cyber threat, integrity loss etc.)
– Profiles of major players in the field.

REASONS FOR DOING THE STUDY

Technology is continually evolving, and the trend in risk management is toward greater efficiency and monitoring risk at the enterprise level. As a result, stakeholders need
insight into the main markets available for risk management technologies. BCC Research provides a detailed market forecast for several market segments, including
technologies, discipline, deployment, etc.

With the introduction of risk management into the corporate world, companies can now devise strategies and make high impact, complex decisions that involve multiple
objectives and uncertainty. Factors such as economic slowdown, regulatory changes, rising competition, disruptive technologies, unavailability of capital, fraud, cyber
threats, natural calamities, drop in oil prices and market volatility have driven organizations toward implementation of enterprise risk management (ERM) programs.
Enterprise risk management enables organizations to have a robust and comprehensive enterprise-wide view of potential events that are likely to negatively
impact their ability to achieve their business objectives.

Because risk grows in proportion to organizational growth, there is high demand for relevant and timely information. Risk managers today need to deliver low cost, high
value risk management services and the use of technology is important to enhancing their effectiveness and productivity. While people are needed for their expertise and
project management, ERM technology is required for consistency, communication and collaboration. Enterprise risk management calls for consistency that can only be
delivered through the right technological solutions. Moreover, organizations are seeking advanced risk management technology-based solutions in order to address
their need for a real-time and reliable risk management program to predict future risks.

This report looks at some of the key technology areas that have a significant influence on enterprise risk management. These areas of technology include integrated risk
management systems, advanced analytics, including artificial intelligence and big data. These solutions reduce costs and implementation times, which in turn drive a technology-based approach toward enterprise risk management.

SCOPE OF REPORT

This report focuses on the global markets for risk management technologies. Enterprise risk has varied definitions and interpretations among organizations depending on their size, industry and risk maturity. The market for ERM technologies has transformed from a tactical focus to meet regulatory compliances to a more strategic approach on enterprise-wide risk management. Consequently, modern ERM applications focus on addressing the dynamic and unique needs of organizations by offering a comprehensive suite of applications, including risk assessment, modeling, reporting and mitigation. This represents a radical change in the dynamics as the majority of ERM platform providers use to offer different components of risk management as individual products.

The term “technologies” in this report covers applications and services that automate the management, measurement, remediation and reporting of risks against specific
objectives.

Important notes regarding assumptions, market estimates and coverage of risk tools/applications are listed below:
– Market size includes the revenue earned/customer spend on risk management solutions, which are categorized below. Revenue values are in U.S. dollars, unadjusted
for inflation.
– Enterprise software solutions: Combining risk management content and data with risk management software to provide an integrated “one-stop-shop” for risk technology buyers. A combination of functionally rich risk applications with comprehensive data management, risk analytics, business intelligence and reporting technologies.
– Stand-alone tools: Function and domain specific tools such as banking (stress testing, credit portfolio analysis, capital estimation, credit collection and recovery), insurance (solvency regulation), healthcare (Medicaid audits), oil and gas (environment, health and safety or EHS), manufacturing (quality management).
– Analytics and database management solutions linked with risk management tool for modeling and predictions.
– GUI-based dashboard, reporting and presentation tools.
– Market estimates also include user spending for support services, integration and consultation as they are used in conjunction with the software/tools.
– Market estimates do not include hardware.
– This market is based on the summation of ERM revenues earned by the ERM technology providers, and it excludes applications developed in-house and solely for
exclusive use.

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