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Risk Management Market Size is Expected to Reac $18,504.22 Million by 2026
The risk management market trends include increase in data security breaches in enterprises and surge in stringent government regulatory compliance.
By: Valuates Reports
Furthermore, rise in demand from developing economies and integration of artificial intelligence in risk management are expected to provide major opportunities for the growth of the risk management market during the forecast period
The global risk management market size was valued at $6,258.40 million in 2018, and market forecast is projected to reach $18,504.22 million by 2026, growing at a CAGR of 14.6% from 2019 to 2026.
The report focuses on the growth prospects, restraints, and trends of the risk management market analysis. The study provides Porter's five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the risk management market.
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The global risk management market is segmented on the basis of component, deployment mode, organization size, industry vertical, and region. In terms of component, it is segmented into software and services. In terms of deployment mode, the market is segmented into on-premise and cloud. As per organization size, it is bifurcated into large enterprises and small & medium enterprises. Based on industry vertical, it is classified into BFSI, IT& telecom, retail, healthcare, energy & utilities, manufacturing, government & defense and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the risk management market industry are IBM Corporation, Lockpath, Inc., LogicManager, Inc., MetricStream Inc., Qualys, Inc., SAP SE, SAS Institute Inc., ServiceNow, RSA Security LLC, and Thomson Reuters
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The integration of advanced technologies such as artificial intelligence in risk management help the providers to identify risks and fraud, boost the revenue, and add value to their customer. AI-based risk management has increased the efficiency in risk processing and helps in creating a better business insight.