What is Risk Advisory Service?
Risk advisory services help a business or organization to understand the risks it faces and minimize such risks. Changing the external and internal environment can put businesses under pressure to maintain the effectiveness of their processes and controls. Some failures in executing or managing critical operations impact the organization to a great extent and create a negative impression on the organization. These increasing failures and pressures in corporate sectors create an additional focus towards risk advisory services from regulators, financial institutions, and dependent directors.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Grant Thornton LLP (United States), KPMG (Netherlands), Deloitte (United Kingdom), Ernst & Young (United Kingdom), BearingPoint (Netherlands), Delta Capita Limited (United Kingdom), Alvarez and Marsal (United States), McKinsey & Company (India), PA Consulting (United Kingdom), Capco (Belgium) and DuPont Sustainable Solutions (United States) |
Global Risk Advisory Service is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching software. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Grant Thornton LLP (United States), KPMG (Netherlands), Deloitte (United Kingdom), Ernst & Young (United Kingdom), BearingPoint (Netherlands), Delta Capita Limited (United Kingdom), Alvarez and Marsal (United States), McKinsey & Company (India), PA Consulting (United Kingdom), Capco (Belgium) and DuPont Sustainable Solutions (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Zanders Treasury and Finance Solutions (Netherlands), Boston Consulting Group (United States), Elixirr (United Kingdom) and Innopay (Netherlands).
The market study is broken down by Type (Operational Risk, Regulatory Risk, Strategic Risk, Cyber Risk and Others) and major geographies with country level break-up.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Risk Advisory Service market by Type, Application and Region.
On the basis of geography, the market of Risk Advisory Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. SME's will boost the Risk Advisory Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales, the sub-segment i.e. Online will boost the Risk Advisory Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Cyber will boost the Risk Advisory Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 7th January 2022, Ernst & Young has expanded its capabilities in the workforce transformation business with the acquisition of Clerestory Consulting. The combination will help clients put their people at the center of their business strategy, helping them become more adaptable, flexible, and agile in the face of rapid change.
In 12th January 2022, Alvarez and Marsal grows insurance and risk advisory services with the addition of Tamseel Butt. Alvarez and Marsal’s commit to helping companies and investors address current and future financial performance and operating risk concerns in a rapidly changing insurance marketplace.
Market Trend
- Increasing Risks Associated with Cyber-Related Threats
Market Drivers
- Rising Adopting the new Normal of Connecting Remotely
- Growing Risks with the Adoption of New Technologies
Opportunities
- A large Number of Businesses Implement Transformation Initiatives like Adoption of Digital Technologies, Transition to Cloud, and Advanced Technologies
Restraints
- Risk Advisory Services are Highly Expensive
- Fraud Related Activities Associated with the Risk Advisory Service
Challenges
- Continuously Changing Regulatory Guidelines
Key Target Audience
Risk Advisory Service Providers, New Entrants, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.