The Business Research Company’s Operational Risk Management Solution Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The operational risk management solution market is experiencing significant growth, driven by the increasing need for organizations to proactively manage potential risks associated with their day-to-day operations. These solutions offer a comprehensive framework and set of tools designed to identify, assess, mitigate, and manage operational risks, ensuring business continuity and safeguarding against financial losses and reputational damage.

Market Size and Growth
The global operational risk management solution market size reached $1.86 billion in 2023 and is expected to grow to $2.05 billion in 2024 at a CAGR of 10.1%. This growth can be attributed to factors like rising demand for these solutions, increasing adoption by large enterprises, and the need to comply with stringent regulatory requirements. Looking ahead, the market is projected to reach $2.97 billion by 2028 at a CAGR of 9.7%. This continued growth is anticipated to be driven by rising cyber attacks, evolving government regulations, and the growing need for risk analytics due to the significant impact of poor risk management.

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Rising Cyber Attacks Fuel Market Growth
The increasing number of cyber attacks is a major factor propelling the growth of the operational risk management solution market. Cyber attacks exploit vulnerabilities in computer systems and networks to compromise data, disrupt operations, and cause financial damage. Operational risk management solutions help organizations identify and mitigate potential vulnerabilities within their digital infrastructure, enhancing resilience, protecting sensitive data, and minimizing the impact of cyber threats. For instance, according to the International Business Machines Corporation, the total number of cybersecurity vulnerabilities tracked increased by 11% from 2021 to 2022. This highlights the growing need for robust operational risk management solutions to combat cyber threats.

Major Players and Market Trends
Leading companies in the operational risk management solution market include International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, and several others. These companies are focusing on product innovation, such as risk-based monitoring solutions, to empower organizations with intelligent decision-making and enhanced compliance. For instance, Tata Consultancy Services launched the TCS ADD suite, a risk-based monitoring solution utilizing AI and machine learning to remotely monitor risks in clinical trials.

Market Segments
The operational risk management solution market is segmented by various factors, including:
• Type: Risk Assessment and Mitigation Tools, Compliance Risk Management Software, Operational Risk Management Software, Risk Management Frameworks, Other Types
• Deployment: On-Premise, Cloud
• Enterprise Size: Small and Medium-Sized Enterprise (SME), Large Enterprise

Geographical Landscape
North America was the dominant region in the operational risk management solution market in 2023. However, Asia-Pacific is expected to be the fastest-growing region in the coming years due to factors like rising healthcare expenditure and increasing government initiatives to improve healthcare infrastructure.

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Operational Risk Management Solution Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Operational Risk Management Solution Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on operational risk management solution market size, operational risk management solution market drivers and trends, operational risk management solution market major players, competitors' revenues, market positioning, and market growth across geographies. The operational risk management solution market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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