Financial Risk Management Software Market to Reach $9.2 Billion, Globally, by 2031 at 14.4% CAGR: Allied Market Research

News provided by

May 08, 2023, 11:00 ET

PORTLAND, Ore., May 8, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Financial Risk Management Software Market by Component (Software, Service), by Deployment Mode (On-premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by End-User (Banks, Insurance Companies, NBFCs, Credit Unions): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global financial risk management software industry generated $2.5 billion in 2021 and is anticipated to generate $9.2 billion by 2031, witnessing a CAGR of 14.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/47851

Drivers, restraints, and opportunities-

The growth of the global financial risk management software market is driven by factors such as the rise in the complexity of financial instruments, increasing regulatory compliance requirements, and an upsurge in the volatility of the world's financial markets. However, the growth of the financial risk management software market is restrained by the complex IT infrastructures with numerous legacy systems and high cost of deploying financial risk management software. Furthermore, increased flexibility and scalability of financial risk management software as compared to traditional on-premise solutions are expected to create new avenues for growth in the financial risk management software industry in the future.

COVID-19 Scenario-

The COVID-19 pandemic had a positive impact on the market for financial risk management software as it increased demand for the financial risk management software and caused widespread market volatility, credit risk, and operational risk. As businesses want to improve their capacity to forecast, monitor, and manage their financial risks, this increased demand for financial risk management software.
Additionally, as businesses look for more adaptable and scalable solutions that can be accessed remotely, the pandemic accelerated the shift to cloud-based financial risk management software.

Want to Access the Statistical Data & Graphs, and Key Players' Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/47851

The software segment to maintain its leadership status throughout the forecast period-

Based on component, the software segment held the highest market share in 2021, accounting for around two-thirds of the global financial risk management software market, and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to increasing regulatory scrutiny, the requirement that businesses adhere to industry standards and regulations, the exponential growth of the financial data that businesses generate, the demand for advanced tools to identify and stop fraud, and the rising threat of cyberattacks. However, the service segment is projected to manifest the highest CAGR of 16.1% from 2022 to 2031. This is due to the fact that the financial risk management industry is becoming more complex. Businesses need more specialized and sophisticated risk management solutions as they face an increasing number of risks, which frequently necessitate professional consulting services. Furthermore, as regulatory requirements become stricter, many businesses are turning to risk management service providers to guarantee compliance and avert financial penalties.

The on-premise segment to dominate the market during the forecast period-

Based on deployment mode, the on-premise segment contributed the largest share of more than three-fifths of the global financial risk management software market in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to the fact that on-premise software performs better and responds more rapidly than cloud-based solutions, especially for time-sensitive applications like high-frequency trading. Therefore, these represent the primary growth trends for the segment. Moreover, the cloud segment is estimated to witness the fastest CAGR of 16.4% from 2022 to 2031. This is because cloud-based software solutions are less expensive than on-premises solutions, and they don't require significant hardware or infrastructure investments. Furthermore, cloud-based solutions provide pricing models that are more dependable and transparent, making it simpler for financial institutions to manage their budgets.

Procure Complete Report (461 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/42d33Zs

North America to maintain its dominance by 2021-

By region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global financial risk management software market. The growth is attributed to the increasing adoption of cloud-based solutions, rising awareness about the importance of risk management, and surging demand for integrated risk management solutions. Also, organizations in North America are rapidly adopting cloud-based risk management software solutions due to their scalability, cost-effectiveness, and ease of use. Furthermore, the Europe region is likely to dominate in terms of revenue from 2022 to 2031. However, the Asia-Pacific region is expected to witness the fastest CAGR of 17.4% during the forecast period, owing to businesses in Asia-Pacific utilizing risk analytics tools more frequently to help them understand their risk profiles. In the Asia Pacific region, the use of artificial intelligence and machine learning in risk management software solutions is expanding. These technologies can assist organizations in automating and streamlining their risk management procedures as well as in more efficiently identifying and reducing risks.

Leading Market Players-

Fiserv, Inc.
Accenture
Abrigo
Temenos
Riskonnect
S&P Global Inc.
Oracle
SAS Institute Inc.
LogicGate, Inc.
Ernst & Young Global Limited (EY)

The report analyzes these key players in the global financial risk management software market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

Looking for Customization Request: https://www.alliedmarketresearch.com/request-for-customization/47851

Key Benefits for Stakeholders:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the financial risk management software market forecast from 2021 to 2031 to identify the prevailing financial risk management software market opportunity.
The market research for the financial risk management software market is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the financial risk management software market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global financial risk management software market trends, key players, market segments, application areas, and market growth strategies.

Financial Risk Management Software Market Report Highlights

Component

Software
Service

Deployment Mode

On-premise
Cloud

Enterprise Size

Large Enterprises
Small and Medium-sized Enterprises (SMEs)

End-User

Banks
Insurance Companies
NBFCs
Credit Unions

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players : Abrigo, Accenture, Ernst & Young Global Limited (EY), Fiserv, Inc., LogicGate, Inc., Oracle, Riskonnect, SAS Institute Inc., S&P Global Inc, Temenos

Trending Reports in BFSI (Book Now with Discount + COVID-19 Scenario):

Financial Consulting Software Market by Offering (Software, Service), by Deployment Model (On-premise, Cloud), by Enterprise Size (Large Enterprises, SMEs), by End-user (Banks, Wealth Management Firms, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Financial Guarantee Market by Product Type (Bank Guarantees, Documentary Letter of Credit, Standby Letter of Credit (SBLC), Receivables Financing, and Others), Enterprise Size (Small Enterprises, Medium-sized Enterprises, and Large Enterprises), and End User (Exporters and Importers): Global Opportunity Analysis and Industry Forecast, 2021-2030

Management Consulting Services Market by Type (Strategy Consulting, Operations Consulting, Financial Advisory, Technology Consulting, Human Resources Consulting), by Organization Size (Large Enterprises, Small & Medium-Sized Enterprises), by Industry Vertical (BFSI, IT and Telecom, Manufacturing, Retail and E-Commerce, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

BFSI Crisis Management Market by Component (Solution and Services), Deployment Type (On-premises and Cloud), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), and Application (Disaster Recovery & Business Continuity, Risk & Compliance Management, Crisis Communication, Incident Management & Response, and Others), and End User (Banks, Insurance Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

ATM Managed Services Market by Service Type (ATM Replenishment & Currency Management, Network Management, Security Management, Incident Management, and Others), and ATM Location

(Onsite ATMs, Offsite ATMs, Worksite ATMs, and Mobile ATMs): Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

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.

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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.

Contact Us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube |