Security Breaches In Fueling The Risk Management Software Market: A Key Catalyst Accelerating Global Risk Management Software Market Growth in 2025

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Risk Management Software Market Size Growth Forecast: What to Expect by 2025?
In the past years, the market size of risk management software has seen substantial growth. It is predicted that it will expand from $25.17 billion in 2024 to reach $26.5 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.3%. The growth experienced in the historical time period can be linked to factors such as regulatory compliance necessity, the rise in cybersecurity threats, volatility in the financial market, risks associated with globalization and supply chains, as well as prominent risk incidents.

How Will the Risk Management Software Market Size Evolve and Grow by 2029?
It is anticipated that the risk management software market will experience robust growth in the near future, swelling to a market size of $32.53 billion in 2029, with a compound annual growth rate (CAGR) of 5.3%. This growth projection for the period can be associated with the heightened interest in ESG (environmental, social, and governance) risks, the surfacing of new regulatory norms, digital conversion drives, complexity of business operations, and an elevated focus on resilience and business continuity. Noteworthy trends for this forecast period encompass the incorporation of artificial intelligence and machine learning, stress on real-time risk monitoring, the broadening of risk quantification methodologies, and an increased emphasis on supplier and third-party risk management.

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What Drivers Are Propelling the Growth of Risk Management Software Market Forward?
The escalation in security and data breach occurrences are projected to boost the development of the risk management software market in the foreseeable future. Unauthorized access or activities that endanger the privacy, reliability, or accessibility of information or systems are referred to as security breaches, while data breaches specifically pertain to the unauthorized access, release, or procurement of sensitive or protected data. The growing prevalence of such breaches results from an increased dependence on digital systems, complex cyberattacks, inadequate cybersecurity protocols, and human mistakes. Risk management software is employed in the face of security and data breaches to evaluate, prioritize, and lessen possible risks, monitor vulnerabilities, and apply proactive protection measures to shield against online threats. For instance, the Australian Signals Directorate reported in November 2023 that the number of C2 incidents surged from 2 in FY 2021-22 to 5 in FY 2022-23. This spike also includes severe data breaches where cybercriminals stole information from essential infrastructure for monetary gain. Thus, the escalating occurrences of security and data breaches act as a catalyst for the growth of the risk management software market.

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Which Emerging Trends Are Transforming the Risk Management Software Market in 2025?
Significant corporations in the risk management software sector are concentrating on creating advanced security posture management (ASPM) systems to improve cyber resilience and effectively reduce security threats. ASPM incorporates coordinated platforms that manage security policies, enhance application security testing, and handle vulnerabilities across multiple projects, teams, and security tools. For example, Synopsys Inc., a company based in the US that offers electronic products and software applications, unveiled the Synopsys Software Risk Manager in August 2023. This influential application security posture management (ASPM) solution aims to simplify, coordinate and enhance application security testing across various projects, teams, and tools. This all-inclusive solution merges policy-driven test orchestration and vulnerability management with industry-leading application security testing (AST) tools to assist teams in optimizing their application security program ROI.

What Are the Key Segments in the Risk Management Software Market?
The risk management softwaremarket covered in this report is segmented -

1) By Type: Web, Android native, iOS Native, Other Types
2) By Type of Software: Enterprise Risk Management Software, Financial Risk Management Software, Integrated Risk Management Software, Application Risk Management Software, Market Risk Management Software, Credit Risk Management Software, Information Technology Risk Management Software, Quantitative Risk Management Software, Project Risk Management Software
3) By Deployment: On-Premise, Cloud
4) By Service Type: Managed Service, Professional Services
5) By End User: Banking, Insurance, Asset Management, Energy And utilities, Educational institutions, Healthcare, Telecom, Information Technology, Oil And Gas, Retail And Life Sciences

Subsegments:
1) By Web: Cloud-based, On-premise
2) By Android Native: Mobile Applications, Enterprise Apps
3) By iOS Native: Mobile Applications, Enterprise Apps
4) By Other Types: Cross-platform, Hybrid Applications

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Who Are the Key Players Shaping the Risk Management Software Market's Competitive Landscape?
Major companies operating in the risk management software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Adobe Inc., RSM International Ltd., Wolters Kluwer N.V., Intertek Group plc, Infor Inc., SAS Institute Inc., HubSpot Inc., Kroll LLC, Diligent Corporation, NAVEX Global Inc., Demandbase Inc., MetricStream Inc., Riskonnect Inc., Ideagen plc, Chetu Inc., LogicGate Inc., Fusion Risk Management Inc., Act-On Software Inc., Aravo Solutions Inc., ProcessUnity Inc., LogicManager Inc., Cura Technologies Ltd., Yesware Inc., SimplyCast Interactive Marketing Ltd., ThriveHive Inc.

What Geographic Markets Are Powering Growth in the Risk Management Software Market?
North America was the largest region in the risk management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the risk management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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