Report : North America Operational Risk Management Solution Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On-Premise and Cloud) and Enterprise Size (SMEs and Large Enterprise)
Cloud Segment to Dominate North America Operational Risk Management Solution Market During 2021–2028
According to a new market research study on “North America Operational Risk Management Solution Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Enterprise Size” is expected to reach US$ 1,366.23 million by 2028 from US$ 722.74 million in 2021. The market is estimated to grow at a CAGR of 9.5% from 2021 to 2028. The report provides trends prevailing in the North America operational risk management solution market along with the drivers and restraints pertaining to the market growth. Growing adoption of operational risk management in fintech companies and accentuating instances of cyber-attacks in various organizations are the major factor driving the growth of the North America operational risk management solution market. However, obstacles related to operational risk management solution hinders the growth of North America operational risk management solution market.
The North America operational risk management solution market has been segmented based on deployment, enterprise size, and country. Based on deployment, the North America operational risk management solution market is segmented into on-premise and cloud. The cloud segment dominated the North America operational risk management solution market in 2020 and same segment is expected to be fastest growing during forecast period. Based on enterprise size, the North America operational risk management solution market is segmented into SMEs and large enterprise. The large enterprise segment dominated the North America operational risk management solution market in 2020 and SMEs segment is expected to be fastest growing during forecast period. Based on country, the North America operational risk management solution market is segmented into the US, Canada, and Mexico.
Adapt IT Holdings Ltd; Cura Global GRC Solutions PTE LTD; MetricStream, Inc.; RSA Security LLC; SAP SE; Shell International B.V.; Sphera Solutions, Inc.; TenForce; and TPSCO LLC are among the leading companies in the North America operational risk management solution market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, Adapt IT Holdings Limited (“Adapt IT”), has been acquired by Volaris Group Inc. (Volaris) effective 3 January 2022. The acquisition results in the diversified South African software company being backed by a well-capitalized leading global technology firm that is keen to support further growth.
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