2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Are the Primary Drivers Supporting the Market Growth of theEnterprise Risk Management Market?

The rise in instances of data security violations within businesses is fueling the growth of the enterprise risk management market. Data breaches, which occur when information is illicitly extracted from a system without the knowledge or permission of the owner, are becoming more common due to factors such as weakened or stolen identities, vulnerabilities in applications, malware, malicious insider activity, and simple insider mistakes, among others. Enterprise risk management plays a pivotal role in identifying, assessing, and preparing for potential losses arising from these breaches. For instance, as per reports from The Office of the Australian Information Commissioner (OAIC), a governmental body based in Australia, in September 2024, 63 data breaches were reported by Australian government agencies, representing 12% of all notifications. Subsequently, the increase in data security breaches is expected to boost the enterprise risk management market’s growth.

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What is the Predicted Annual Growth Rate of theEnterprise Risk Management Market Impact Industry Trends by 2034?

In recent times, the enterprise risk management market scale has been on a consistent growth trajectory. The market, which was worth $5 billion in 2024, is projected to expand to $5.17 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 3.5%. The historic period’s growth can be linked to several factors including regulatory compliance mandates, the menace of cybersecurity, business continuity strategies, data analytics and insights, and interruptions in the supply chain.

In the coming years, the market size of enterprise risk management is anticipated to experience robust growth, increase to $7.28 billion in 2029, with a compound annual growth rate (CAGR) of 8.9%. The reasons behind this progression during the projection period include the emergence of uncharted risks, readiness for pandemics, adjustments in regulations and their complexity, along with crisis handling and response. Key trends during this forecast phase encompass incorporation with up-and-coming technologies, management of cybersecurity risks, merging artificial intelligence (AI) and machine learning (ML), tackling climate change and ESG (Environmental, Social, Governance) risks, and managing risks from third parties.

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What Are the Latest Innovations Influencing theEnterprise Risk Management Market?

In the enterprise risk management market, leading companies are establishing knowledge centers for enterprise risk to broaden their risk management capabilities and encourage educated decision-making processes. These centers act as unified sources for best practices, strategies, and analytical instruments, permitting businesses to identify, evaluate, and alleviate risks in a more efficient manner. For instance, IRM India Affiliate, a professional firm based in India, launched the Enterprise Risk Knowledge Centre in August 2024. The center is meant to function as a broad hub for professionals in the realm of risk management, offering access to an extensive array of resources, such as research papers, guides for best practices, and educational materials. The platform’s objective is to expedite the sharing of knowledge and teamwork among practitioners, thereby enabling organizations to strengthen their risk assessment structures and refine their general risk management strategies.

Who Are the Major Industry Players Accelerating Growth in theEnterprise Risk Management Market?

Major companies operating in the enterprise risk management market include Dell Technologies Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Infosys Limited, Fidelity National Information Services Inc., Thomson Reuters Corporation, Wolters Kluwer N.V., ACL Services Ltd., RSA Security LLC, OneTrust LLC, MetricStream Inc., NAVEX Global Inc., Cority Inc., Riskonnect Inc., Enablon Inc., GRC Solutions Inc., Galvanize Inc., Resolver Inc., ProcessUnity Inc., LockPath Inc., Aravo Solutions Inc., BWise Inc., LogicManager Inc., LogicGate Inc., Quantivate Inc., SAI Global Pty. Ltd., Optial Inc., Rsam LLC, Ideagen Ltd.

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Which Primary Segments of the Enterprise Risk Management Market Are Driving Growth and Industry Transformations?

The enterprise risk management market covered in this report is segmented –

1) By Deployment: Cloud, On-Premises

2) By Component: Hardware, Software, Services

3) By Industry Vertical: BFSI, IT And Telecom, Retail, Healthcare, Energy And Utilities, Manufacturing, Government And Defense

Subsegments:

1) By Cloud: Public Cloud, Private Cloud, Hybrid Cloud, Cloud-based Risk Management Solutions

2) By On-Premises: On-Premises Software Solutions, On-Premises Infrastructure Management, Custom On-Premises Implementations

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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theEnterprise Risk Management Market?# Market?

North America was the largest region in the enterprise risk management market in 2024. 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, Africa.

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