Integration of advanced technologies in risk management software is expected to create lucrative opportunities in the industry. Rise in data and security concerns among enterprises, increase in stringent government regulatory compliances, and surge in adoption of risk management among financial institutions drive the growth of the Europe risk management market.
Major industry players such as – Camms., Fusion Risk Management, Inc., IBM corporation, Lockpath, Inc., Logicmanager, Inc., Safetyculture, SAP SE, SAS Institute Inc., Servicenow, and Sword GRC.
The risk management market in Europe was estimated at 2.62 billion in 2020 and is expected to hit $15.15 billion by 2030, registering a CAGR of 19.2% from 2021 to 2030.
Based on country, the market across the UK dominated the market with the major share in 2020, accounting for more than one-fourth of the Europe risk management industry. This is due to rise in investment in their emerging technologies in order to implement streamlined work processes so as to reduce risks and improve the corporate performance altogether. Simultaneously, the market across Spain is expected to witness the fastest CAGR of 24.6% from 2021 to 2030, owing to increase in usage of risk management software in the BFSI, IT, healthcare, and government industries to improve security, businesses, and the overall customer experience.
Based on deployment model, the on-premise segment held the highest market share in terms of revenue, accounting for nearly three-fifths of the Europe risk management market, owing to increase in cases of cyber-attacks. The cloud segment, however, is estimated to exhibit the fastest CAGR of 20.5% during the forecast period. This is because there’s been a steep rise in the adoption of cloud-based risk management software among both the large-and mid-sized enterprises across Europe in the last few years.
Download Sample Report (Get Full Insights in PDF – 189 Pages) at:
Based on component, the software segment dominated with the largest share in 2020, holding more than two-thirds of the Europe risk management market. Increase in activities such as financial fraud, identity theft, data theft, cyber-attacks, and physical threats in industries drive the segment growth. The services segment, on the other hand, is expected to cite the fastest CAGR of 20.8% throughout the forecast period, due to rise in adoption of various services among the end-users.
- The COVID-19 outbreak has impacted the growth of the Europe risk management market positively, as auditors of various industries have started to adopt risk management software to solve various compliances and other audit related issues in organizations.
- Also, the majority of companies across Europe have adopted BYOD culture, while some of them have also taken recourse to the work from home drift. This in turn, has posed a major threat, due to surge in cyber-attacks and data thefts in companies. Therefore, to prevent such attacks, business ventures have incorporated risk management software, which has boosted the market altogether.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/15773
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.