Market Size And Forecast: Operational Risk Management Software 2019-2024 (Global)

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Executive Summary

This report provides detailed analysis of the current market size and future prospects of the operational risk management (ORM) software market. The analysis provides executives at ORM software vendors, practice leaders in systems integrators and financial investors with market data to inform business planning and strategy. In 2019 the ORM software market was worth $1.4 billion and forecasted to reach $2.2 billion in 2024. Growth in 2020 will only reach 4.0% due to the COVID-19 pandemic and ensuing economic recession but will pick up again quickly as managers leverage ORM software capabilities to achieve their operational excellence objectives. ORM vendors need to do four things to exploit the attractive market opportunity: manage current customer relationships during the COVID-19 period, develop simplified functionality for low to medium       EHS-risk markets, provide greater integration with industrial systems for process industries and leverage emerging technologies to enhance real-time risk management.

Table of contents

Forecasting The Operational Risk Management Software Market  
The 2019 ORM Software Market Reflects Spending On A Patchwork Of Different Applications
The Operational Risk Management Software Market Is Worth $1.4 Billion In 2019
ORM Software Market Growth Depressed By COVID-19 And Concurrent Economic Shocks To Reach $1.5 Billion In 2020
Operational Excellence Strategies Will Drive ORM Software Growth
ORM Software Market Will Reach $2.2 Billion In 2024
ORM Vendors Need To Do Four Things To Exploit The Attractive Market Opportunity 

Table of figures

Figure 1. 2019 ORM Software Market Size By Region
Figure 2. 2019 ORM Software Market Size By Industry
Figure 3. ORM Software Market Forecast And Growth Rate For 2019-2024 
Figure 4. ORM Software Market Forecast By Region For 2019-2024
Figure 5. ORM Software Market Forecast By Industry For 2019-2024
Figure 6. ORM Software Market Forecast By Capability For 2019-2024

About the authors

Sebastian Winter

Industry Analyst
Sebastian is an Industry Analyst in the Verdantix Operational Excellence practice. His research agenda covers digital twins for industrial facilities, asset management software, and connected worker platforms. Sebastian also delivers market strategy, voice of the customer, thought leadership, CDD, and digital strategy advisory pieces. Prior to joining Verdantix, Sebastian worked for Trucost, a division of S&P Global, and held positions in China, Brunei and Kenya. Sebastian holds an MSc Environmental Technology from Imperial College London.

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.

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