Digital Risk Management market projected to reach USD 34.68 billion by 2032, driven by cybersecurity needs

From GlobeNewswire: 2025-01-20 09:00:00

The Digital Risk Management market was valued at USD 9.82 billion in 2023, projected to reach USD 34.68 billion by 2032 with a CAGR of 15.12%. Cybersecurity threats, AI adoption, and consumer data protection are driving demand. Businesses are investing in advanced DRM solutions as cyberattacks surge, with 75% having incident response plans.

Advancements in AI and machine learning are fueling the growth of the DRM market. The expansion of IoT and cloud services increases vulnerabilities, boosting demand for sophisticated DRM solutions. Qualys’ enhancement of its TruRisk platform with TotalAI indicates market growth. Organizations are prioritizing effective risk management, particularly in finance and healthcare sectors.

In 2023, the Software segment dominated the DRM market with 60% of total revenue, driven by increased demand for advanced solutions to tackle cyber threats. Services segment is projected to grow at a CAGR of 16.45% from 2024 to 2032. BFSI sector holds 32% of revenue share, while Healthcare segment is expected to grow at a CAGR of 18.93%.

North America dominated the DRM market in 2023 with 39% revenue share, followed by Europe and Asia Pacific. Sectors like healthcare, retail, and finance leverage Big Data to enhance operations and improve customer experiences. The Services segment is seeing rapid growth, driven by the need for personalized support in digital risk management. The Asia Pacific region leads in digital risk management with robust infrastructure and heavy investments in cybersecurity solutions. Expected to grow at a CAGR of 16.96% from 2024 to 2032, driven by digital transformation and rising cyber threats. Key developments include Oracle and Datricks/SAP Signavio launching AI-powered risk management solutions.

For more information on the digital risk management market, visit https://www.snsinsider.com/reports/digital-risk-management-market-3787. SNS Insider offers consulting services like Go To Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking. With a focus on providing accurate market data and insights, SNS Insider helps clients make informed decisions in a rapidly changing environment.



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