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Financial Risk Management Software Market to Reach $9.2 Billion, Globally, by 2031 at 14.4% CAGR: Allied Market ResearchThe 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 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-
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.
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-
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:
Financial Risk Management Software Market Report Highlights Component
Deployment Mode
Enterprise Size
End-User
By Region
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: Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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