Market Size And Forecast: Operational Risk Management Software Applications 2020-2026 (Global)

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Executive Summary

In this report, Verdantix provides detailed analysis of the current market size and future prospects of the operational risk management (ORM) software application market. This analysis finds that the ORM software application market will grow from $1.5 billion in 2020, at a CAGR of 9%, to $2.6 billion in 2026. The ORM software market – and the control of work (CoW) software subsegment in particular – have displayed a high degree of resilience to the COVID-19 pandemic; in fact, the pandemic has caused increased demand for risk management software. To maximize growth , ORM software providers must broaden their offerings to cover process safety management (PSM), have an open architecture to support greater integrations with industrial systems and incorporate digital twins to visually communicate risk.

Table of contents

Forecasting The Operational Risk Management Software Application Market 
Model Updates Reflect The Impact of the COVID-19 Pandemic and Global Economic Condition
The ORM Software Application Market Was Worth $1.5 Billion In 2020
The ORM Software Market Has Rebounded Following The Initial Shock From The COVID-19 Pandemic
The ORM Software Application Market Will Reach $2.6 Billion In 2026
ORM Software Suppliers Need To Do Three Things To Exploit The Attractive Market Opportunity

Table of figures

Figure 1. 2020 ORM Software Application Market Size 2020 By Region 
Figure 2. 2020 ORM Software Application Market Size By Industry 
Figure 3. ORM Software Application Market Forecast (2020-26) 
Figure 4. ORM Software Application Market Forecast By Region (2020-26) 
Figure 5. ORM Software Application Market Forecast By Industry (2020-26) 
Figure 6. ORM Software Application Market Forecast By Category (2020-26) 

About the authors

Malavika Tohani

Research Director

Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

Hugo Fuller

Analyst

Hugo is a Technology Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on covering connected worker technologies, best practices, market trends and growth strategies. Hugo joined Verdantix in 2020 having worked previously in public relations and earned media at Cision. He holds a bachelor’s degree in English from University College London.

Joe Osborne

Analyst
Joe is an Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on covering industrial risk management technologies and the use of Digital Twins and UAVs for asset management. Joe joined Verdantix shortly after being awarded his Masters in Aerospace Engineering from the University of Bristol.

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