Market Size And Forecast: Operational Risk Management Software Applications 2020-2026 (Global)
Access this research
Access all Specialist Industrial Transformation Solutions content with a strategic subscription or buy this single report
Need help or have a question about this report? Contact us for assistance
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.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
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, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins…
View Profile
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft…
View Profile
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 Twin…
View Profile