The global operational
risk management solution market size is expected to grow from US$ 1,656.4
million in 2021 to US$ 3,098.0 million by 2028; operational risk management
solution market share is estimated to grow at a CAGR of 9.4% from 2021 to 2028.
The
report provides the current market size for the Operational Risk Management
Solution Market, defines trends, and presents growth forecasts for nine years
from 2021 to 2028. 2021 is considered as the base year, and 2021 to 2028 is the
forecast year for the entire report. All the market numbers for revenue are
provided in US dollars. The market is analyzed by the supply side, considering
the market penetration of Benefits Management Platform for all the regions
globally.
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The List of Companies -
Operational Risk Management Solution Market
1.
Adapt IT
Holdings Ltd
2.
MetricStream,
Inc.
3.
RSA Security
LLC
4.
TPSCO LLC
5.
Rombit NV
6.
SAP SE
7.
Shell
International B.V.
8.
Sphera
Solutions, Inc.
9.
TenForce
10.
Cura Global
GRC Solutions PTE LTD
After the COVID-19 pandemic, corporate players have
introduced changes in their operations by enabling flexible work schedules,
allowing remote working, and enhancing the employee experience. The hybrid work
models are defined as a more flexible, digital, and rewarding future for their
employees. According to an article published by GENESIS INTEGRATION, 55% of the
US workers want a work pattern that allows the mix of working from home and
office. The article data also reveals that more than 2 in 5 working adults
(42%) are willing to give up some percentage of their salary for higher
flexibility at work. Further, 74% of newer generation would prefer either
working from home or splitting work time between home and work, as per the
article published by GENESIS INTEGRATION. The rising adoption of a potentially
permanent hybrid workforce has led to an increase in operational risk
management solutions due to the rise in cybersecurity attacks with remote
working. Further, businesses also need to address the increasing risk of
internal fraud.
According to the article by Risk Management Intelligence in
October 2021, employee fraud cases in Asia Pacific region have increased over
the past year in the COVID-19 pandemic. Some of the essential risks include
procurement fraud, cash theft, and falsification of expense claims. Further,
business processes will continue to transform in hybrid working environments,
thereby increasing the demand for operational risk management solutions due to
high risks. Internal controls and business continuity plans need to be
reassessed and audited to ensure that operational and process risks are
correctly mapped out and mitigated. Also, with increasing reliance on
third-party service providers, including technology and business process
outsourcing providers, organizations need to strengthen their third-party risk
management strategy. Hence, with the rising adoption of the hybrid workforce
model in the current scenario, several risks are also increasing, such as
cybersecurity, internal fraud, and business process risks. Therefore, the
growing implementation of hybrid work culture is creating significant
opportunities for the future growth of the operational risk management solution
market industry players.
In
2020, the COVID-19 pandemic had contributed to the operational risk management
solution market growth, as millions of employees worked remotely. Such standard
protective measures have resulted in the increased usage of third-party
networks, digital platforms, and personal computing devices. Further, such
network connectivity solutions increase the risks of cyberattacks and other
malware. Furthermore, the surge in digital traffic presented an opportunity to
numerous online frauds, phishing attacks, denial of inventory, and ransomware
attacks. According to the Global DNS Threat report, in 2021, 79% of global
organizations experienced domain name system (DNS) attacks in 2020.
Furthermore, the top DNS attacks included DNS phishing (~39%), DNS malware
(~34%), distributed denial of service (DDoS) attacks (~27%), DNS
hijacking/credential attacks (~12%), DNS tunneling (~17%), zero-day
vulnerabilities (~16%), and cloud instance misconfiguration abuse (~13%).,
Enterprises are adopting advanced operational risk management solutions to
detect and manage any abnormal behavior in the networks due to the increased
risks of cybercrimes.
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TABLE
OF CONTENTS
1.
Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Operational Risk
Management Solution Market - By Deployment
1.3.2 Global Operational Risk
Management Solution Market - By Enterprises Size
1.3.3 Global Operational Risk
Management Solution Market - By Geography
2. Key
Takeaways
3.
Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4.
Operational Risk Management Solution Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5.
Operational Risk Management Solution Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Adoption of
Operational Risk Management in Fintech Companies
5.1.2 Rising Instances of Cyber
Attacks in Various Organizations
5.2 Market Restraints
5.2.1 Challenges Related to
Operational Risk Management Solution
5.3 Market Opportunities
5.3.1 Ongoing Implementation of Hybrid
Working Styles
5.4 Future Trends
5.4.1 Integration of Artificial
Intelligence in Operational Risk Management
5.5 Impact Analysis of Drivers and
Restraints
6.
Operational Risk Management Solution Market - Global Market Analysis
6.1 Global Operational Risk Management
Solution Market Overview
6.2 Global Operational Risk Management
Solution Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. Operational
Risk Management Solution Market Revenue and Forecasts To 2028 - Deployment
7.1 Overview
7.2 Operational Risk Management Solution
Market, By Deployment (2020 And 2028)
7.3 On-Premise
7.3.1 Overview
7.3.2 On-Premise: Operational Risk
Management Solution Market Revenue and Forecast To 2028 (US$ Million)
7.4 Cloud
7.4.1 Overview
7.4.2 Cloud: Operational Risk
Management Solution Market Revenue and Forecast To 2028 (US$ Million)
8.
Operational Risk Management Solution Market Revenue and Forecasts To 2028 -
Enterprise Size
8.1 Overview
8.2 Operational Risk Management Solution
Market, By Enterprise Size (2020 And 2028)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: Operational Risk Management
Solution Market Revenue and Forecast To 2028 (US$ Million)
8.4 Large Enterprises
8.4.1 Overview
8.4.2 Large Enterprises: Operational
Risk Management Solution Market Revenue and Forecast To 2028 (US$ Million)
9.
Operational Risk Management Solution Market - Geographic Analysis
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