Report : Middle East and Africa Operational Risk Management Solution Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (On-Premise and Cloud) and Enterprise Size (SMEs and Large Enterprise)
SMEs Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to a new market research study on “MEA Operational Risk Management Solution Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Enterprise Size” is expected to reach US$ 114.63 million by 2028 from US$ 74.72 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the MEA operational risk management solution market along with the drivers and restraints pertaining to the market growth. Rising implementation of hybrid working styles and combination of artificial intelligence in operational risk management are the major factor driving the growth of the MEA operational risk management solution market. However, challenges related to operational risk management solution hinders the growth of MEA operational risk management solution market.
The MEA operational risk management solution market has been segmented based on deployment, enterprise size, and country. Based on deployment, the MEA operational risk management solution market is segmented into on-premise and cloud. The on-premise segment dominated the MEA operational risk management solution market in 2020 and cloud segment is expected to be fastest growing during forecast period. Based on enterprise size, the MEA operational risk management solution market is segmented into SMEs and large enterprise. The large enterprise segment dominated the MEA operational risk management solution market in 2020 and SMEs segment is expected to be fastest growing during forecast period. Based on country, the MEA operational risk management solution market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
Adapt IT Holdings Ltd; Cura Global GRC Solutions PTE LTD; MetricStream, Inc.; RSA Security LLC; SAP SE; Shell International B.V.; Sphera Solutions, Inc.; and TenForce are among the leading companies in the MEA operational risk management solution market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, Sphera has been honored in Built In’s 2022 Best Places to Work Awards as announced by the technology platform. Specifically, Sphera was awarded a place on the Best Large Companies to Work for in Chicago list.
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