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)
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Operational Risk Management Solution Market – By Deployment
1.3.2 APAC Operational Risk Management Solution Market – By Enterprises Size
1.3.3 APAC Operational Risk Management Solution Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Operational Risk Management Solution Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Operational Risk Management Solution Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Adoption of Operational Risk Management in Fintech Companies
5.1.2 Surging Instances of Cyber Attacks in Various Organizations
5.2 Market Restraints
5.2.1 Challenges Related to Operational Risk Management Solution
5.3 Market Opportunities
5.3.1 Growing Implementation of Hybrid Working Styles
5.4 Future Trends
5.4.1 Merging Artificial Intelligence in Operational Risk Management
5.5 Impact Analysis of Drivers and Restraints
6. Operational Risk Management Solution Market – APAC Analysis
6.1 APAC Operational Risk Management Solution Market Overview
6.2 APAC Operational Risk Management Solution Market Forecast and Analysis
7. APAC Operational Risk Management Solution Market Analysis – By Deployment
7.1 Overview
7.2 APAC Operational Risk Management Solution Market, By Deployment (2020 And 2028)
7.3 On-Premise
7.3.1 Overview
7.3.2 On-Premise: Operational Risk Management Solution Market Revenue and Forecast To 2028 (US$ Million)
7.4 Cloud
7.4.1 Overview
7.4.2 Cloud: Operational Risk Management Solution Market Revenue and Forecast To 2028 (US$ Million)
8. APAC Operational Risk Management Solution Market Analysis – By Enterprise Size
8.1 Overview
8.2 APAC Operational Risk Management Solution Market, By Enterprise Size (2020 And 2028)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: Operational Risk Management Solution Market Revenue and Forecast To 2028 (US$ Million)
8.4 Large Enterprises
8.4.1 Overview
8.4.2 Large Enterprises: Operational Risk Management Solution Market Revenue and Forecast To 2028 (US$ Million)
9. APAC Operational Risk Management Solution Market – Country Analysis
9.1 Overview
9.1.1 APAC Operational Risk Management Solution Market Breakdown, by Country
9.1.1.1 Australia Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.1.1 Australia Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.1.2 Australia Operational Risk Management Solution Market Breakdown, By Enterprise Size
9.1.1.2 China Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.2.1 China Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.2.2 China Operational Risk Management Solution Market Breakdown, By Enterprise Size
9.1.1.3 India Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.3.1 India Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.3.2 India Operational Risk Management Solution Market Breakdown, By Enterprise Size
9.1.1.4 Japan Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.4.1 Japan Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.4.2 Japan Operational Risk Management Solution Market Breakdown, By Enterprise Size
9.1.1.5 South Korea Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.5.1 South Korea Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.5.2 South Korea Operational Risk Management Solution Market Breakdown, By Enterprise Size
9.1.1.6 Rest of APAC Operational Risk Management Solution Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.6.1 Rest of APAC Operational Risk Management Solution Market Breakdown, By Deployment
9.1.1.6.2 Rest of APAC Operational Risk Management Solution Market Breakdown, By Enterprise Size
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
11. Company Profiles
11.1 Adapt IT Holdings Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 MetricStream, Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 RSA Security LLC
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 SAP SE
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Shell International B.V.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Sphera Solutions, Inc.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 TenForce
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Cura Global GRC Solutions PTE LTD
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. APAC Operational Risk Management Solution Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. APAC Operational Risk Management Solution Market, Revenue and Forecast To 2028 – By Country (US$ million)
Table 3. Australia Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 4. Australia Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 5. China Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 6. China Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 7. India Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 8. India Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 9. Japan Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 10. Japan Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 11. South Korea Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 12. South Korea Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 13. Rest of APAC Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Deployment (US$ million)
Table 14. Rest of APAC Operational Risk Management Solution Market, Revenue and Forecast to 2028 – By Enterprise Size (US$ million)
Table 15. Glossary of Terms
LIST OF FIGURES
Figure 1. APAC Operational Risk Management Solution Market Segmentation
Figure 2. APAC Operational Risk Management Solution Market Segmentation – By Country
Figure 3. APAC Operational Risk Management Solution Market Overview
Figure 4. APAC Operational Risk Management Solution Market, By Deployment
Figure 5. APAC Operational Risk Management Solution Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. APAC Operational Risk Management Solution Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. APAC Operational Risk Management Solution Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Operational Risk Management Solution Market, Forecast and Analysis (US$ Mn)
Figure 11. APAC Operational Risk Management Solution Market, By Deployment (2020 and 2028)
Figure 12. APAC On-Premise: Operational Risk Management Solution Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Cloud: Operational Risk Management Solution Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Operational Risk Management Solution Market, By Enterprise Size (2020 and 2028)
Figure 15. APAC SMEs: Operational Risk Management Solution Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Large Enterprises: Operational Risk Management Solution Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Operational Risk Management Solution Market, by Key Country – Revenue (2020) (US$ Million)
Figure 18. APAC Operational Risk Management Solution Market Breakdown, by Country, 2020 & 2028 (%)
Figure 19. Australia Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
Figure 20. China Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
Figure 21. India Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
Figure 22. Japan Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
Figure 23. South Korea Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
Figure 24. Rest of APAC Operational Risk Management Solution Market, Revenue and Forecast To 2028 (US$ million)
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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