Europe Risk Management Market to Witness Exponential Growth Rate of 19.2 by 2030

WILMINGTON, DE, UNITED STATES, September 18, 2024 /EINPresswire.com/ -- The Europe risk management market size was valued at $2,626.03 Million in 2020, and is projected to reach $15,152.87 billion by 2030, growing at a CAGR of 19.2% from 2021 to 2030.

Europe Risk Management market trends in Spain is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in Europe Risk Management and threat management, which drives organizations to invest heavily in Europe Risk Management market to sustain growth and improve productivity. In addition, factors such as major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in work force management strategy in emerging economies notably contribute toward the market growth. Furthermore, key players in Spain are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

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Risk management software is used by organizations to efficiently and effectively manage different types of risks. This software is known for its different capabilities such as identifying and managing different types of risks and for taking measures to avoid potential crisis. The primary goal of risk management software is to identify potential risks before they occur so that risk handling activities may be invoked and planned when and where needed across the lifecycle of a product to achieve the objective of an organization.

The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has moderate impact on growth of the market as auditors of various industries are adopting risk management software to solve various compliances and other audit related issues of an organization. In addition, various companies across Europe have adopted bring your own device (BYOD) culture or work from home culture in their organizations, which have become a major threat, owing to surge in cyber-attacks and data thefts in companies. Thus, to prevent such attacks, companies are adopting risk management software, which positively impacts growth of the market. Furthermore, various banks and financial institute have noted that there is a rise in phishing attacks since mid of February 2020. Thus, to control such attacks, banks and financial institutes are using risk management software, which provides growth opportunities for the Europe risk management market.

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This report gives an in-depth profile of some key market players in the Europe risk management market are Camms., Fusion Risk Management, Inc., IBM corporation, Lockpath, Inc., Logicmanager, Inc., Safetyculture, SAP SE, SAS Institute Inc., Servicenow, and Sword GRC. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

Key Findings Of The Study

By component, the Software segment dominated the Europe risk management market in 2020. However, the service segment is expected to exhibit significant growth during the forecast period.
On the basis of Deployment Mode, the on-premise segment accounted for the highest revenue of market in 2020; however, the cloud segment is expected to witness the highest growth rate during the forecast period.
Depending on organizational size, the large-scale segment generated the highest revenue in 2020. However, the SMEs segment is expected to witness the highest growth rate in the near future.
Depending on industry vertical, the BFSI segment generated the highest revenue in 2020. However, the manufacturing segment is expected to witness the highest growth rate in the near future.
Country wise, the Europe risk management market was dominated by UK. However, Spain is expected to witness significant growth in the coming years.

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