About Enterprise Risk Management-
Enterprise risk management is the process of planning, organizing, directing, and controlling all activities of an organization to reduce the harmful effects of the risk on its capital earnings. Enterprise risk management includes financial, strategic, operational, and accidental losses. It helps increase awareness of business risks throughout the organization. Integration of ERM with other organizational functions, such as finance, compliance, and operations, allows for a more holistic approach to risk management. Collaborative efforts contribute to better risk identification and response.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The ERM market is likely to continue evolving with advancements in technology, changes in business environments, and an increased focus on resilience and sustainability. Keep an eye on emerging technologies, regulatory developments, and industry-specific trends to understand the evolving landscape. 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.
Bwise (Netherlands), Capgemini (France), IBM (United States), Dell EMC (United States), FIS (United States), Infosys Limited (India), NAVEX Global, Inc. (United States), SAP SE (Germany), Logic Manager (United States), MetricStream (United States), Oracle (United States), SAP SE (Germany), Intelex Technologies (United States), Protecht Group (Australia), LogicManager, Inc (United States) and Riskconnect Inc (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Enterprise Risk Management- market by and Region.
On the basis of geography, the market of Enterprise Risk Management- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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. SMEs will boost the Enterprise Risk Management- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Model, the sub-segment i.e. Public cloud will boost the Enterprise Risk Management- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased implementation of artificial intelligence in risk management solution
Market Growth Drivers:
Growing risk of data misuse propelling the demand for enterprise risk management and Growing awareness among organizations about the importance of ERM has led to increased adoption.
Challenges:
Capital and operational expenditures increase initially because ERM programs can require expensive and ERM initiatives increase emphasis on governance, requiring business units to invest a significant amount of time in risk management
Restraints:
Poor data quality can lead to inaccurate results and poor decision-making.
Opportunities:
Offering educational resources and training programs on ERM best practices
Market Leaders and their expansionary development strategies
In March 2022, Riskonnect, the leader in integrated risk management (IRM) solutions, has acquired Sword GRC, a UK-based software company that specializes in project and enterprise risk management solutions, from Sword Group. The acquisition advances Riskonnect’s IRM approach by uniquely incorporating project risk into its platform and enabling customers to bring all aspects of enterprise risk under one roof.
In June 2020, NAVEX, the leader in integrated risk and compliance management solutions, launched the availability of three new offerings designed to meet customer needs for solutions that address key risk management issues, Lockpath Third Party Risk Management; Lockpath Business Continuity Management; and Lockpath Privacy, Risk and Compliance Management.
Key Target Audience
Research organization, Government Regulatory, End-User Industry 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 a 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 the purpose to understand the companies positioning regarding the 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 a 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, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.