Asia Pacific Operational Risk Management Solution Market Growth and Forecast by 2028

The APAC operational risk management solution market is expected to grow from US$ 347.29 million in 2021 to US$ 721.84 million by 2028; it is estimated to grow at a CAGR of 11.0% from 2021 to 2028.

After the emergence of the COVID-19 pandemic, corporate players preferred flexible work schedules by allowing remote working and enhancing the employee experience. The hybrid work models enable them to define a flexible, digital, and rewarding future for their employees. The rising adoption of a potentially permanent hybrid workforce has led to increased use of operational risk management solutions due to the rising cybersecurity attacks with remote working. Further, businesses need to address the growing risk of internal fraud. According to one report, employee fraud cases have increased due to remote work over the past year. A few risks are procurement fraud, cash theft, and falsification of expense claims. Moreover, business processes are expected to continue to transform in hybrid working situations, thereby boosting the need for operational risk management solutions due to high risks. Internal controls and business continuity plans must be reassessed and audited to ensure that operational and process risks are correctly mapped out and mitigated. Further, organizations need to strengthen their third-party risk management strategy with increasing reliance on third-party service providers, such as technology and business process outsourcing providers. With the rising adoption of the hybrid workforce model, several risks, including cybersecurity, internal fraud, and business process risks, are increasing. Therefore, the growing implementation of hybrid work culture will create significant growth opportunities for the growth of the APAC operational risk management solution market players in the coming years.

With the new features and technologies, vendors attract new customers to grow their footprints in emerging markets. This factor is likely to drive the APAC operational risk management solution market. The APAC operational risk management solution market is expected to grow at a substantial CAGR during the forecast period. 

APAC Operational Risk Management Solution Market Revenue and Forecast to 2028 (US$ Million)

APAC Operational Risk Management Solution Market Segmentation 

The APAC operational risk management solution market is segmented into deployment, enterprise size, and country. Based on deployment, the APAC operational risk management solution market is bifurcated into on-premise and cloud. The on-premise segment led the market in 2020; however, the cloud segment is expected to be the faster-growing segment during the forecast period. Based on enterprise size, the APAC operational risk management solution market is bifurcated into SMEs and large enterprise. The large enterprise segment led the market in 2020; however, the SMEs segment is expected to be the faster-growing segment during the forecast period. Based on country, the APAC operational risk management solution market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC.         

Adapt IT Holdings Ltd; Cura Global GRC Solutions PTE LTD; MetricStream, Inc.; RSA Security LLC; SAP SE; Shell International B.V.; Sphera Solutions, Inc.; and TenForce are among the leading companies operating in the APAC operational risk management solution market.

Asia Pacific Operational Risk Management Solution Report Scope