Financial Risk Management Software Market Set to Expand Significantly by 2031, Driven by Growing Need for Compliance

Financial Risk Management Software Market Set to Expand Significantly by 2031, Driven by Growing Need for Compliance

NEW CASTLE, DE, UNITED STATES, July 17, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Financial Risk Management Software Market by Component (Software, Service), by Deployment Mode (On-premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by End-User (Banks, Insurance Companies, NBFCs, Credit Unions): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global financial risk management software industry generated $2.5 billion in 2021 and is anticipated to generate $9.2 billion by 2031, witnessing a CAGR of 14.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

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Drivers, restraints, and opportunities-

The growth of the global financial risk management software market is driven by factors such as the rise in the complexity of financial instruments, increasing regulatory compliance requirements, and an upsurge in the volatility of the world's financial markets. However, the growth of the financial risk management software market is restrained by the complex IT infrastructures with numerous legacy systems and high cost of deploying financial risk management software. Furthermore, increased flexibility and scalability of financial risk management software as compared to traditional on-premise solutions are expected to create new avenues for growth in the financial risk management software industry in the future.

The software segment to maintain its leadership status throughout the forecast period-

Based on component, the software segment held the highest market share in 2021, accounting for around two-thirds of the global financial risk management software market, and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to increasing regulatory scrutiny, the requirement that businesses adhere to industry standards and regulations, the exponential growth of the financial data that businesses generate, the demand for advanced tools to identify and stop fraud, and the rising threat of cyberattacks. However, the service segment is projected to manifest the highest CAGR of 16.1% from 2022 to 2031. This is due to the fact that the financial risk management industry is becoming more complex. Businesses need more specialized and sophisticated risk management solutions as they face an increasing number of risks, which frequently necessitate professional consulting services. Furthermore, as regulatory requirements become stricter, many businesses are turning to risk management service providers to guarantee compliance and avert financial penalties.

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The on-premise segment to dominate the market during the forecast period-

Based on deployment mode, the on-premise segment contributed the largest share of more than three-fifths of the global financial risk management software market in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to the fact that on-premise software performs better and responds more rapidly than cloud-based solutions, especially for time-sensitive applications like high-frequency trading. Therefore, these represent the primary growth trends for the segment. Moreover, the cloud segment is estimated to witness the fastest CAGR of 16.4% from 2022 to 2031. This is because cloud-based software solutions are less expensive than on-premises solutions, and they don't require significant hardware or infrastructure investments. Furthermore, cloud-based solutions provide pricing models that are more dependable and transparent, making it simpler for financial institutions to manage their budgets.

North America to maintain its dominance by 2021-

By region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global financial risk management software market. The growth is attributed to the increasing adoption of cloud-based solutions, rising awareness about the importance of risk management, and surging demand for integrated risk management solutions. Also, organizations in North America are rapidly adopting cloud-based risk management software solutions due to their scalability, cost-effectiveness, and ease of use. Furthermore, the Europe region is likely to dominate in terms of revenue from 2022 to 2031. However, the Asia-Pacific region is expected to witness the fastest CAGR of 17.4% during the forecast period, owing to businesses in Asia-Pacific utilizing risk analytics tools more frequently to help them understand their risk profiles. In the Asia Pacific region, the use of artificial intelligence and machine learning in risk management software solutions is expanding. These technologies can assist organizations in automating and streamlining their risk management procedures as well as in more efficiently identifying and reducing risks.

Leading Market Players-

Fiserv, Inc.
Accenture
Abrigo
Temenos
Riskonnect
S&P Global Inc.
Oracle
SAS Institute Inc.
LogicGate, Inc.
Ernst & Young Global Limited (EY)
The report analyzes these key players in the global financial risk management software market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

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Key Benefits for Stakeholders:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the financial risk management software market forecast from 2021 to 2031 to identify the prevailing financial risk management software market opportunity.
The market research for the financial risk management software market is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the financial risk management software market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global financial risk management software market trends, key players, market segments, application areas, and market growth strategies.

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