Market Size And Forecast: Operational Risk Management Software 2019-2024 (Global)
Sebastian Winter
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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.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
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 softwar...
Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef...
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