Risk Analytics Global Market Report 2023 – By Risk Type Application (Financial Risks, Operational Risks, Compliance Risks, Strategic Risks, Other Risk Type Applications), By Component (Solution, Services), By Organization Size (Large Enterprises, Small And Medium Sized Enterprises (SMES)), By Deployment Mode (On Premises, Cloud), By Vertical (BFSI, Manufacturing, Transportation, Retail, IT and Telecommunication, Healthcare, Government) – Market Size, Trends, And Global Forecast 2023-2032

The enterprise risk management refers to processes that strategically examines risk management from the viewpoint of the entire company or organization. It is a top-down strategy that tries to recognize, evaluate, and get ready for prospective losses, dangers, hazards, and other potential for harm that may obstruct an organization's operations and goals and/or result in losses. The main types of deployment of enterprise risk management are cloud and on-premises. The on-premise enterprise risk management refers to enterprise risk management solutions that are implemented in-house and as part of an organization's IT infrastructure where the solution, as well as any connected procedures, are the responsibility of the enterprise. The main components of enterprise risk management include hardware, software, and services. The end-users of enterprise risk management include BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, and government and defense. The global enterprise risk management market is segmented - 1) By Deployment: Cloud, On-Premises 2) By Component: Hardware, Software, Services 3) By Industry Vertical: BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense The global enterprise risk management market size will grow from $4.78 billion in 2022 to $5.1 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the enterprise risk management is expected to grow to $6.38 billion in 2027 at a CAGR of 5.8%. The surge in data security breaches in enterprises is driving the enterprise risk management market. A data breach is a situation in which information is taken from a system without the owner's knowledge or consent. Data security breaches are increasing due to weak and stolen credentials, application vulnerabilities, malware, malicious insiders, insider error and others. Enterprise risk management helps to recognize, evaluate, and get ready for prospective losses that may arise due to data security breaches. For instance, in 2021 according to the Identity Theft Resource Center (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, data breaches in 2021 surpassed the total number in 2020 by 17%. Therefore, a rise in data security breaches will propel the enterprise risk management market growth. Major players in the enterprise risk management market are IBM Corporation, Capgemini, Fidelity National Information Services, Inc., Infosys Limited, Oracle Corporation, SAP SE, LogicManager, Inc., MetricStream, Dell Inc., Ideagen PLC., Intelex Technologies, SAI Global Pty Limited, QUALYS, Inc., Alyne GmbH, MEGA International, and NAVEX Global, Inc. The strategic partnership is a key trend gaining popularity in the enterprise risk management market. Companies operating in the enterprise risk management sector are entering into strategic partnerships to leverage each other's resources and expand into new markets. For instance, in August 2021, Galvanize, a US-based software as a service company that builds security, risk management, compliance, and audit software for the governance, risk management, and compliance (GRC) market, partnered with Turnkey. Through this partnership, Turnkey will include Galvanize's HighBond platform in its extensive lineup of tech-enabled solutions for customers. Turnkey is a London-based provider of Integrated Risk Management (IRM), Identity Access Management (IAM) and cyber and application Security. In September 2022, IppoPay Technologies Pvt Ltd., an India-based provider of payment infrastructure, acquired Tutelar Fintech Private Limited for an undisclosed amount. With the acquisition, IppoPay is expected to enter the payments infrastructure market and Tutelar enables IppoPay to fight against frauds in the financial transactions. Tutelar Fintech Private Limited is an India-based risk management company using full-stack AI. North America was the largest region in the enterprise risk management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the enterprise risk management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The enterprise risk management market consists of revenues earned by entities by providing enterprise risk management components including event modification and objective setting. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The enterprise risk management market research report is one of a series of new reports from The Business Research Company that provides enterprise risk management market statistics, including enterprise risk management industry global market size, regional shares, competitors with an enterprise risk management market share, detailed enterprise risk management market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise risk management industry. This enterprise risk management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The enterprise governance, risk, and compliance (eGRC) refers to a strategy used by enterprises to manage their governance, corporate compliance and enterprise risk management with applicable regulations while effectively maintaining business objectives. eGRC helps enterprises to achieve anticipated goals through the automation of workflow, while simultaneously ensuring that is adherence to government regulations and internal controls that employees must adhere to company-wide. The main components of enterprise, governance, risk and compliance (eGRC) market are software and services. Software refers to a set of instructions, data, or programs used to operate a computer and execute specific tasks. The organization size is large enterprises and small and medium enterprises. The deployment is cloud-based and on-premise. The various verticals involved BFSI, healthcare, government, energy and utilities, manufacturing, retail and consumer goods, telecom and IT, and other verticals. The global enterprise governance risk and compliance egrc market is segmented - 1) By Component: Software, Services 2) By Organization Size: Large Enterprise, Small And Medium Enterprise 3) By Deployment Model: Cloud-Based, On-Premise 4) By Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Government, Energy And Utilities, Manufacturing, Retail And Consumer Goods, Telecom And Information Technology (IT), Other Verticals The global enterprise governance, risk and compliance (egrc) market size will grow from $33.29 billion in 2022 to $38.26 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the enterprise governance, risk and compliance (egrc) is expected to grow to $66.87 billion in 2027 at a CAGR of 15.0%. Increasing cyber-attack incidents are expected to propel the growth of the enterprise governance, risk, and compliance (eGRC) market going forward. A cyber-attack refers to any attempt to gain unauthorized access to a computer, computing system, or computer network with the intent to cause damage. Organizations globally are adopting eGRC solutions to leverage numerous features such as risk and compliance management, business resiliency applications, and financial audit management. For instance, according to a report published by SonicWall, a US-based cybersecurity company, there has been a 105% surge in ransomware cyberattacks in 2021. Governments saw an 1885% increase in cyberattacks, while the healthcare industry faced a 755% increase in cyberattacks in 2021. Therefore, the increasing cyber-attack incidents are driving the enterprise governance, risk, and compliance (eGRC) market growth. Major players in the enterprise governance, risk and compliance (eGRC) market are IBM Corporation, LogicManager Inc., MetricStream Inc., Microsoft Corporation, SAP SE, SAS Institute Inc., Oracle Corporation, RSA Security LLC, Thomson Reuters Corporation, Lockpath Inc., Infosys Limited, Convercent, Refinitive, Modulo Security LLC and Mphasis Limited. Technological advancements are a key trend gaining popularity in the enterprise governance, risk, and compliance (eGRC) market. Major companies operating in the enterprise governance, risk, and compliance market are focused on developing new technological solutions to strengthen their position. For instance, in January 2022, MetricStream, a US-based software company operating in the integrated risk management (IRM) and governance, risk, and compliance (GRC), launched an AI (artificial intelligence), deep domain capabilities, and risk quantification capabilities embedded solution, ConnectedGRC for addressing several urgent business challenges related to risk, compliance, audit, cyber risks, and environmental, social, and governance (ESG). With MetricStream's integrated GRC software, professionals can collaborate more effectively, share information, and manage risk quantitatively. ConnectedGRC offers three distinct product lines including BusinessGRC, CyberGRC, and ESGRC. In April 2020, Tricor Group, a Hong Kong-based business expansion specialist company, acquired Axcelasia Inc., for an undisclosed amount. With this acquisition, Tricor aims to provide governance, risk, and compliance (GRC) solutions for end-users to manage their complex compliance and regulatory requirements and responsibilities. Axcelasia is a Malaysia-based company operating in enterprise governance, risk, and compliance. North America was the largest region in the enterprise, governance, risk, and governance (eGRC) market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise, governance, risk, and governance (eGRC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the enterprise, governance, risk, and governance (eGRC) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The enterprise governance, risk, and compliance (eGRC) market consist of revenues earned by entities by providing compliance management and audit management. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The enterprise governance, risk and compliance (eGRC) market research report is one of a series of new reports from The Business Research Company that provides eGRC market statistics, including eGRC industry global market size, regional shares, competitors with a eGRC market share, detailed eGRC market segments, market trends and opportunities, and any further data you may need to thrive in the eGRC industry. This eGRC market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Governance, Compliance, and Risk Management Software (GRC software) refer to an integrated suite of software tools for creating and operating an enterprise GRC program, a business strategy for managing governance, risk management, and compliance with industry and government standards. The main types of components in governance, compliance, and risk management software are software and services. GRC software manages the risks in different organizational areas. Software used in GRC is used in IT sectors to tackle the risks in the organization. The different deployment modes include on-premises, cloud, and hybrid. This software is used in small and medium enterprises (SMEs), and large enterprises. GRC software is used in different industry verticals such as BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecom and IT, transportation and logistics, and others. The global governance compliance and risk management software market is segmented - 1) By Component: Software, Services 2) By Deployment: On-Premises, Cloud, Hybrid 3) By Enterprise Type: Small And Medium Enterprise (SME), Large Enterprise 4) By Industry Vertical: BFSI, Construction And Engineering, Energy And Utilities, Government, Healthcare, Manufacturing, Retail And Consumer Goods, Telecom And IT, Transportation And Logistics, Other Industry Verticals The global governance, compliance and risk management software market size will grow from $38.11 billion in 2022 to $42.72 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the governance, compliance and risk management software is expected to grow to $69.96 billion in 2027 at a CAGR of 13.1%. The rising use of cloud-based networking is expected to propel the growth of the governance, compliance, and risk management software market going forward. Cloud networking consists of on-premises cloud and public cloud which manages the network capabilities in organizations. Cloud networking is used by risk managers, accounts officers, and auditors to simplify their activities in an organization. For instance, Cisco Global Cloud Index (2016-2021), 94% of all workload runs on cloud networking and virtualized environment. Furthermore, according to Eurostat, a Luxembourg-based statistical office of the European Union, approximately 41 % of EU enterprises used cloud computing in 2021. Therefore, the rise in the use of cloud-based networking drives the governance, compliance, and risk management software market growth. Major players in the governance, compliance and risk management software market are IBM, Dell Technologies, SAP SE, Oracle Corporation, Software AG, LogicManager, Riskonnect Inc., Galvanize Inc., SAI Global, MetricStream, Sword GRC, Check Point Software Technologies, MEGA International, Resolver Inc., Lockpath, ProcessGene, ReadiNow, LogicGate, Microsoft Corporation, RSA Security LLC, and BWise BV. Automation of GRC programs through specialized software applications is shaping the governance, compliance, and risk management software market. GRC software assists firms in managing all of the relevant documentation and processes to ensure optimal productivity and preparation. For Instance, in 2020 IBM, a US-based software company launched an IBM OpenPages with Watson. IBM OpenPages with Watson is a GRC platform powered by AI and data that helps enterprises manage risk and regulatory compliance. GRC is made easier with IBM OpenPages because it unifies segmented risk management tasks into a single, highly visual interface. It makes use of a variety of IBM technologies and capabilities, such as Watson Assistant, Watson Natural Language Translator, and IBM Cloud Pak for Data, to reduce the requirement for user training and enable organizations to standardize and automate their responses to GRC concerns. In February 2020, Symplr, a US-based provider of healthcare governance, risk, and compliance solutions and services acquired The Patient Safety Company from Main Capital Partners for an undisclosed amount. The combination of Symplr and The Patient Safety Company (TPSC) broadens the healthcare sector's leading end-to-end GRC platform of scale to incorporate patient safety as well as incident reporting and monitoring. The Patient Safety Company is a Netherlands-based company that provides web-based quality management and integrated GRC software for the healthcare sector. Asia-Pacific was the largest region in the governance, compliance and risk management software market in 2022. The regions covered in the governance, compliance and risk management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the governance, compliance and risk management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The governance, compliance, and risk management software market includes revenues earned by entities by providing software tools that automate the processes of identifying risks, adhering to regulations, developing company policies, lowering costs, and expanding business potential. The governance, compliance, and risk management software (GRC software) is used by risk managers, accounts officers, and auditors to simplify their activities in an organization. The GRC software deals with audit management, Internal policy management, compliance management, risk and incidence management, and information security management. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The governance, compliance, and risk management software market research report is one of a series of new reports from The Business Research Company that provides governance, compliance, and risk management software market statistics, including governance, compliance, and risk management software industry global market size, regional shares, competitors with governance, compliance, and risk management software market share, detailed governance, compliance, and risk management software market segments, market trends and opportunities, and any further data you may need to thrive in the governance, compliance, and risk management software industry. This governance, compliance, and risk management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Security and vulnerability management refers to the ongoing, regular process of various processes, tools, and strategies for identifying, evaluating, treating, and reporting security vulnerabilities and misconfigurations within an organization's software and systems. The implementation of security and vulnerability management alongside with other security tactics is vital for organizations to prioritize possible threats and minimize their attack surface. The main components of security and vulnerability management are software and services. Services involving security and vulnerability management are used to identify, prioritize, and evaluate vulnerabilities and help organizations with effective vulnerability management. The various organization sizes include small and medium scale and large scale and involve various targets such as content management system vulnerabilities, API vulnerabilities, internet of things (IoT) vulnerabilities, and others. These are used in several applications, including banking, financial services and insurance (BFSI), government and defence, healthcare, IT and telecom, retail, and others. The global security and vulnerability management market is segmented - 1) By Component: Software, Services 2) By Organization Size: Small and Medium Scale, Large Scale 3) By Target: Content Management System Vulnerabilities, API Vulnerabilities, Internet of Things (IoT) Vulnerabilities, Other Targets 4) By Application: Banking, Financial Services And Insurance (BFSI), Government and Defense, Healthcare, IT and Telecom, Retail, Other Applications The global security and vulnerability management market size will grow from $13.4 billion in 2022 to $14.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global security and vulnerability management is expected to grow to $19.11 billion in 2027 at a CAGR of 7.2%. The rise in the adoption of security and vulnerability assessment and management tools is expected to drive the growth of the security and vulnerability management market going forward. Security and vulnerability management tools aid in the assessment, identification, and reporting of security flaws. A large number of firms are utilizing security and vulnerability assessment and management technologies to minimize security issues. For example, in October 2021, Synk, a US-based security company operating in security and vulnerability management, broadened its portfolio with Snyk Code, a static application security testing (SAST) tool that already supports Java, JavaScript, and Python, now it includes support for C#, Ruby, PHP, and Go. In the last 12 months, Snyk clients and customers have run more than 300 million tests, fixing more than 30 million vulnerabilities in a 90-day timeframe. Snyk also announced that its annual recurring income (ARR) has climbed by 154 percent year over year, owing to a customer base that currently includes over 1,200 companies such as Asurion, Google, Intuit, MongoDB, New Relic, Revolut, and Salesforce. Therefore, the rise in the adoption of security and vulnerability assessment and management tools is driving the security and vulnerability management market. Major players in the security and vulnerability management market are IBM, McAfee, Broadcom Inc., Qualys Inc., Dell, Acunetix, AT&T, Balbix, Breachlock Inc., Brinqa, Claroty, Digital Defense Inc., F-Secure Corporation, Holm Security, Rapid7, Positive Technologies, RiskIQ, and NetIQ Corporation. Technological advancements have emerged as a key trend gaining popularity in the security and vulnerability market. Major companies operating in the security and vulnerability management sector are focused on developing innovative products and applications to strengthen their position. For Example, in May 2022, New Relic, a US-based observability company, launched New Relic Vulnerability Management. It will enable organizations to identify and address security risks more quickly and precisely. In order to manage security and risk comprehensively, every member of the software team, including security engineers, can use New Relic as the default platform to aggregate native and third-party security signals across the entire software stack. Using mappings and correlations, engineers can monitor, debug, and secure the entire software stack more effectively and reduce overall risks. In June 2021, Cisco, a US-based company operating in security and vulnerability management, acquired Kenna Security for an undisclosed amount. Through this acquisition, Cisco clients will be able to tackle important security posture concerns by collaborating cross-functionally to swiftly automate cybersecurity threat prediction, prioritization, identification, and remediation. Cisco will be able to lower the attack surface as well as the time it takes to detect and respond to security threats. Kenna Security Inc., is a US-based company that manufactures risk-based vulnerability management software for vulnerability management. North America was the largest region in the security and vulnerability management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security and vulnerability management market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the security and vulnerability management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The security and vulnerability management market consists of revenues earned by entities that are engaged in providing services such as System Misconfigurations, Out-of-date or Unpatched Software, Missing or Weak Authorization Credentials, Malicious Insider Threats, Missing or Poor Data Encryption, Zero-day Vulnerabilities, Vulnerability Detection, Cyber Security Vulnerability Assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The security and vulnerability management market research report is one of a series of new reports from The Business Research Company that provides security and vulnerability management market statistics, including security and vulnerability management industry global market size, regional shares, competitors with a security and vulnerability management market share, detailed security and vulnerability management market segments, security and vulnerability management market trends and opportunities, and any further data you may need to thrive in the security and vulnerability management industry. This security and vulnerability management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Information technology (IT) is the use of computers, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data. The main type of information technology (IT) are IT services, computer hardware, telecom, and software products. Computer hardware is the physical components that a computer system requires to function and encompasses everything within a PC or laptop. The services are used by large, small, and medium enterprises of financial services, retail and wholesale, manufacturing, healthcare and others. The global information technology (IT) market is segmented - 1) By Type: IT Services, Computer Hardware, Telecom, Software Products 2) By Organization Size: Large Enterprise, Small and Medium Enterprise 3) End User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End User Industries Subsegments Covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software The global information technology (IT) market size grew from $8179.48 billion in 2022 to $8852.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The information technology (IT) market is expected to grow to $11995.97 billion in 2027 at a CAGR of 7.9%. The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. In the cloud computing model, data is stored on the internet by a cloud computing provider, who manages and operates data storage as a service. Many companies are now choosing applications hosted in the cloud for their day-to-day operations. For example, according to statistics provided by hostingtribunal.com, 60% of computing workloads were running in the public cloud in 2019. Similarly, 94% of enterprise workloads are expected to be processed by cloud data centers in 2021. Companies are also opting for cloud-based data storage, thus boosting the demand for IT services. Major companies in the information technology (IT) market include Apple, Microsoft, Verizon Communications, China Mobile, AT&T Inc., Huawei, Deutsche Telekom AG, Dell Technologies Inc., Samsung Electronics Co., Ltd. and Comcast Corporation. The outbreak of COVID-19 disease (COVID-19) has acted as a significant restraint on the information technology (IT) market share in 2020 as supply chains were disrupted due to trade restrictions and employees working for these establishments faced difficulties related to infrastructure and communication owing to lockdowns imposed by governments globally, forcing them to work from home. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity, with countries entering a state of 'lock down,' and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the information technology (IT) market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software publishers would open source software that was not making money, but now companies are open sourcing software to increase their presence and share in the market. Supabase, a YC-incubated startup that offers developers an open-source alternative, announced that it had raised a $6 million in funding to create new open-source tools. Asia-Pacific was the largest region in the information technology (IT) market in 2022. North America was the second largest region of the information technology (IT) market. The regions covered in the information technology (IT) industry analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the information technology (IT) market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The information technology (IT) market consists of revenues earned by entities by providing IT services such as computer networking, broadcasting, systems design services and information distribution technologies like television and telephones and other equipment used during the process. The market value includes the value of related goods sold by the service provider or included within the service offering. The information technology (IT) market also includes sales of computers, computer peripherals and telecommunications equipment which are used in providing IT services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The information technology (IT) market research report is one of a series of new reports from The Business Research Company that provides information technology (IT) market statistics, including information technology (IT) industry global market size, regional shares, competitors with information technology (IT) market share, detailed information technology (IT) market segments, market trends and opportunities, and any further data you may need to thrive in the information technology (IT) industry. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The patient safety and risk management software is a computer program used in risk management by analyzing and reporting medical issues that arise in healthcare institutions. This program is also used for reduction and prevention of such kind of errors. Patient safety concentrates on minimizing harm to patients whereas risk management prioritizes patient harm as well as other forms of hazards. The main types of patient safety and risk management software are risk management and safety solutions, claims management solutions, and governance, risk and compliance solutions. The risk management and safety solutions are applied for risk management by analyzing and reporting medical issues that arise in healthcare institutions. Risk assessment and reduction are both included in safety risk management. The various types of deployment modes in patient safety and risk management software include private cloud and public cloud. They are adopted by hospitals, ambulatory care centers, long-term care centers, pharmacies, and other end users. The global patient safety and risk management software market is segmented - 1) By Type: Risk Management And Safety Solutions, Claims Management Solutions, Governance, Risk And Compliance Solutions 2) By Deployment Mode: Private Cloud, Public Cloud 3) By End-User: Hospitals, Ambulatory Care Centers, Long-Term Care Centers, Pharmacies, Other End Users The global patient safety and risk management software market size will grow from $2.02 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the patient safety and risk management software is expected to grow to $3.37 billion in 2027 at a CAGR of 10.9%. The increasing adoption of IT in healthcare sector is expected to propel the growth of the patient safety and risk management software market going forward. The healthcare industry has benefited greatly from advances in information technology (IT). Electronic medical records are one example of a huge improvement that IT has given to hospitals (EMR). With the use of this technology, medical data can be compiled into a single database. Use of digital tools and teleconsultation is another recent advance in information technology (IT) in Healthcare. For Instance, in 2020, during the pandemic lockdown in India, 85% of practitioners used digital tools and teleconsultation. On the other hand, first-time users accounted for 80% of all teleconsultation services. When compared to 2019, telehealth visits grew by 50% in 2020.Therefore, the adoption of IT in healthcare sector is expected to propel the growth of patient safety and risk management software industry going forward. Major players in the patient safety and risk management software market are Conduent, Becton, Dickinson and Company, Health Catalyst, Inc., RLDatix, Riskconnect, Inc., Clarity Group, Symplr, RiskQual Technologies, Smartgate Solutions Ltd., Prista Corporation, Ideagen plc, IQVIA Holdings Inc., NAVEX Global Inc., and Wolters Kluwer N.V. Adopting different innovative technologies have emerged as a key trend in patient safety and risk management software market. Innovative technology is a term used to describe a technological or scientific process or product that is characterized in terms of production, research, and development. The companies operating in the patient safety and risk management software market are focusing on developing innovative products with latest technologies to increase customer reach and expand their business offerings. For instance, In May 2022, Mindray, one of the leading global providers of medical devices and solutions has launched M-Connect IT Solution, helping optimize clinical workflow and ensure patient safety in hospitals. In June 2021, RLDatix, a UK-based provider of healthcare governance, risk, and compliance (GRC) solutions acquired Allocate for an undisclosed amount. With this acquisition, RLDatix will combine its industry-leading patient safety, compliance, risk and provider management capabilities. Allocate, a UK-based provider of human capital management solutions that help healthcare organizations deliver effective care and safe. North America was the largest region in the patient safety and risk management software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient safety and risk management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the patient safety and risk management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The patient safety and risk management software market consist of revenues earned by entities by providing patient safety and risk management software used to analyze and report medical issues. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The patient safety and risk management software market research report is one of a series of new reports from The Business Research Company that provides Patient safety and risk management software market statistics, including Patient safety and risk management software industry global market size, regional shares, competitors with a Patient safety and risk management software market share, detailed Patient safety and risk management software market segments, market trends and opportunities, and any further data you may need to thrive in the Patient safety and risk management software industry. This Patient safety and risk management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Threat intelligence refers to software solutions an organization utilizes to understand the threats that have presently targeting an organization. This information validated inputs are utilized to prepare, eliminate, and identify cyber threats looking to take advantage over valuable resources. The main types of solutions offered under threat intelligence include threat intelligence platforms, risk and compliance management, security information and event management (SIEM), security and vulnerability management (SVM), identity and access management (IAM), user and entity behavior analytics, and incident forensics. The threat intelligence platform refers to a system that gathers, aggregates, and organizes threat intelligence data from a variety of sources and formats. A TIP offers security teams information about known malware and other dangers, allowing them to identify, investigate, and respond to attacks quickly and accurately. They are deployed over the cloud and on-premise facilities. They are used by small & medium enterprises and large enterprises in industries ranging from healthcare, transportation, IT and telecom, manufacturing, BFSI, energy & utilities, government and defense, retail, and education. The global threat intelligence market is segmented - 1) By Solution: Threat Intelligence Platforms, Risk and Compliance Management, Security Information and Event Management (SIEM), Security and Vulnerability Management (SVM), Identity and Access Management (IAM), User and Entity Behavior Analytics, Incident Forensics 2) By Deployment: On-Premise, Cloud 3) By Organisation Size: Small and Medium-Sized Enterprises, Large Enterprises 4) By Vertical: Healthcare, Transportation, IT and Telecom, Manufacturing, Banking, Financial Services, and Insurance, Energy and Utilities, Government and Defense, Retail, Education The global threat intelligence market size will grow from $9.81 billion in 2022 to $11.27 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the threat intelligence is expected to grow to $19.55 billion in 2027 at a CAGR of 14.8%. The increasing demand for better solutions for the protection of network infrastructure is contributing to the growth of the threat intelligence market. The companies operating in different industries are increasingly investing in advanced threat intelligence solutions to reduce the attack surface of a network (network protection). Network protection aids in preventing employees from using applications to access harmful domains and secure the key assets or properties within the network. According to the study published by Delloite and Financial Services Information Sharing and Analysis Center in 2020, the companies involved in financial services spend 10% of their annual IT budget on cyber security. Therefore, the increase in demand for protection of network infrastructure is expected to boost demand for threat intelligence market during forecast period. Major players in the threat intelligence market are IBM Corporation, Optiv Security, Inc., Dell Technologies, Inc., Lookingglass Cyber Solutions, Inc., Webroot Inc., LogRhythm, Inc., Optiv Security, Inc., AlienVault, Inc., Crowdstrike Inc., Anomali, Inc., Fortinet, Inc., DXC Technology, Broadcom, NSFOCUS, and Forcepoint. Technological advancement is a key trend gaining popularity in the threat intelligence market. Technical advancement and new tools being developed in threat intelligence help give information that goes beyond an attacker's resources and helps prevent cybersecurity attacks as well as be future-proof. For instance, in 2021, EclecticIQ, a leading global threat intelligence, hunting, and response technology supplier, launched the EclecticIQ Platform, which places "Intelligence at the coreTM" of cyber defense. The EclecticIQ Platform delivers detection and response (EDR), curated intelligence feeds, threat hunting, and collaboration capabilities, which is built on the company's comprehensive threat intelligence solution. In 2021, Microsoft Corporation, a US-based multinational technology corporation acquired RiskIQ for an undisclosed amount. This acquisition is expected to strengthen the cybersecurity and risk intelligence of its portfolio of Microsoft. Additionally, Microsoft is planning to integrate threat intelligence solution of RiskIQ into its existing portfolio. RiskIQ is a California-based software company involved in offering threat intelligence and attack surface management solutions across the globe. North America was the largest region in the threat intelligence market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the threat intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the threat intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The threat intelligence market includes revenues earned by entities by providing services such as Cyble-real-time threat monitoring, detection, and response. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The threat intelligence market research report is one of a series of new reports from The Business Research Company that provides threat intelligence market statistics, including threat intelligence industry global market size, regional shares, competitors with a threat intelligence market share, detailed threat intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the threat intelligence industry. This threat intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Managed security services are the services provided by third-party vendors as a proactive security measure, which is simple according to the need and ever-evolving security view of an organization. The main types of managed security services are network security, and terminal security. application security, cloud security. Network security refers to the policies, processes, and practices adopted to prevent, detect and monitor unauthorized access, misuse, modification, or denial of a computer network and network accessibility. The managed security services are deployed through on-premise, cloud. The different organization sizes include large enterprises and small and medium-sized enterprises (SMEs) and are applicable in intrusion detection and prevention, threat prevention, distributed denial of services, firewall management, end-point security, and risk assessment. These are used in BFSI, government and defense, retail, manufacturing, healthcare and life sciences, it and telecom, and other end-users. The global managed security services market is segmented - 1) By Type: Network Security, Terminal Security, Application Security, Cloud Security 2) By Deployment Type: On-Premise, Cloud 3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs) 4) By Application: Intrusion Detection and Prevention, Threat Prevention, Distributed Denial of Services, Firewall Management, End-Point Security, Risk Assesme 5) By End User: BFSI, Government and Defense, Retail, Manufacturing, Healthcare and Life Sciences, IT and Telecom, Other End Users The global managed security services market size will grow from $26.51 billion in 2022 to $31.39 billion in 2023 at a compound annual growth rate (CAGR) of 18.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the managed security services is expected to grow to $55.52 billion in 2027 at a CAGR of 15.3%. The rising instances of security breaches are expected to propel the growth of managed security services market going forward. Security breach refers to any incident that results in unauthorized access to computer data, applications, networks, or devices. Managed security services monitor and manage security systems and devices, as a result rising instances of security breaches will increase the demand for managed security services market. For instance, in December 2021, according to the Identity Theft Resource Center (ITRC), a US-based non-profit organization, data breaches increased by 17% in 2021, with 12.91 thousand breaches compared to 11.08 thousand in 2020. Therefore, the increase in security breaches helps to increase the market demand for managed security services. Major players in the managed security services market are International Business Machines Corporation, Cisco Systems Inc., Nippon Telegraph and Telephone Corporation, Secureworks Inc., BT Managed Security Solutions, Check Point Software Technologies Ltd., Wipro Limited, Accenture plc, Symantec, DXC Technology Company, Lumen Tech Inc., Nuspire, BAE Systems, Fujitsu, and Intel Corporation. Strategic collaborations have emerged as a key trend gaining popularity in the managed security services market. Major companies operating in the managed security services sector are entering into new collaboration agreements to strengthen their position in the market. For instance, in September 2021 Atos, a France-based information technology service company partnered with Integrity, a US-based company operating in managed security services. This collaboration aids in the creation and development of a bug bounty program, as well as the provision of automatic detection and remediation services to customers. Further, in July 2021 Atos, a France-based information technology service company partnered with Ooredoo, a Qatar-based company operating in managed security services. This collaboration agreement will create important cybersecurity threat detection and response services for the Qatar Smart Program "TASMU," which aims to improve the quality of life for Qatari citizens, residents, and visitors. In September 2021, PwC, a UK-based company that provides professional services acquired Avaleris for an undisclosed amount. Through this acquisition, PwC will strengthen its portfolio of cybersecurity and will build a strong reputation with clients. Avaleris is a Canada-based company that provides managed security services. North America was the largest region in the managed security services market in 2022. The regions covered in the managed security services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the managed security services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The managed security services market includes revenues earned by entities by providing security services such as managing firewalls, monitoring and handling of interference detection systems, intrusion detection, scanning, and anti-virus services, The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The managed security services market research report is one of a series of new reports from The Business Research Company that provides managed security services market statistics, including managed security services industry global market size, regional shares, competitors with a managed security services market share, detailed managed security services market segments, market trends and opportunities, and any further data you may need to thrive in the managed security services industry. This managed security services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.