Enterprise Risk Management Global Market Report 2022

New York, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enterprise Risk Management Global Market Report 2022" - https://www.reportlinker.com/p06325432/?utm_source=GNW
, Intelex Technologies, SAI Global Pty Limited, QUALYS, INC., Alyne GmbH, MEGA International, and NAVEX Global, Inc.

The global enterprise risk management market is expected to grow from $4.46 billion in 2021 to $4.82 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The enterprise risk management market is expected to reach $6.20 billion in 2026 at a CAGR of 6.5%.

The enterprise risk management market consists of sales of enterprise risk management solutions and services by entities (organizations, sole traders, and partnerships) that strategically examines risk management from the viewpoint of the entire company or organization. It is a top-down strategy that tries to recognize, evaluate, and get ready for prospective losses, dangers, hazards, and other potential for harm that may obstruct an organization's operations and goals and/or result in losses.

The main types of deployment of enterprise risk management are cloud and on-premises.The on-premise enterprise risk management refers to enterprise risk management solutions that are implemented in-house and as part of an organization's IT infrastructure where the solution, as well as any connected procedures, are the responsibility of the enterprise.

The main components of enterprise risk management include hardware, software, and services. The end-users of enterprise risk management include BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, and government and defense.

North America was the largest region in the enterprise risk management market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the enterprise risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The enterprise risk management market research report is one of a series of new reports that provides enterprise risk management market statistics, including enterprise risk management industry global market size, regional shares, competitors with a enterprise risk management market share, detailed enterprise risk management market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise risk management industry. This enterprise risk management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The surge in data security breaches in enterprises is driving the enterprise risk management market.A data breach is a situation in which information is taken from a system without the owner's knowledge or consent.

Data security breaches are increasing due to weak and stolen credentials, application vulnerabilities, malware, malicious insiders, insider error and others.Enterprise risk management helps to recognize, evaluate, and get ready for prospective losses that may arise due to data security breaches.

For instance, in 2021 according to the Identity Theft Resource Center (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, data breaches in 2021 surpassed the total number in 2020 by 17%. Therefore, a rise in data security breaches will propel the growth of the enterprise risk management market.

The strategic partnership is a key trend gaining popularity in the enterprise risk management market.Companies operating in the enterprise risk management sector are entering into strategic partnerships to leverage each other's resources and expand into new markets.

For instance, in August 2021, Galvanize, a US-based software as a service company that builds security, risk management, compliance, and audit software for the governance, risk management, and compliance (GRC) market, partnered with Turnkey.Through this partnership, Turnkey will include Galvanize's HighBond platform in its extensive lineup of tech-enabled solutions for customers.

Turnkey is a London-based provider of Integrated Risk Management (IRM), Identity Access Management (IAM) and cyber and application Security.

In February 2019, SAI Global, a US-based company that provides integrated risk management (IRM) solutions, acquired Bwise for an undisclosed amount.Through this acquisition, the risk management, internal audit, and regulatory compliance platform from BWise will be combined with SAI Global's market-leading SAI360 risk and compliance solution to produce the most comprehensive integrated approach to risk management.

BWise is a US-based software company that offers financial, corporate, and IT governance solutions.

The countries covered in the enterprise risk management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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