Insights into the Evolving Landscape of IT Risk Management (ITRM)

 


Quadrant Knowledge Solutions Reveals that IT Risk Management Market is Projected to Register a CAGR of 11.90% by 2027. Organizations worldwide engage in partnerships with various third-party entities such as vendors, suppliers, and contractors to outsource their products and essential services, aiming to reduce operational costs, enhance profitability, gain a competitive edge, expedite time to market, and enhance overall productivity.

According to Quadrant Knowledge Solutions, "IT risk management (ITRM)," also referred to as 'information security risk management,' constitutes a component of the enterprise risk management (ERM) framework, focusing on cyber and IT risks and threats throughout the risk management lifecycle.

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The following key inquiries will be addressed in this study:

·       What is the current competitive landscape within the IT Risk Management (ITRM) market?

·       What is the market share held by major vendors in this domain?

·       What are the primary competitive dynamics observed in the global and regional markets for ITRM?

·       Who are the prominent vendors operating in the global and regional markets?

·       Are there vendors specializing in particular industries?

·       How do different vendors compare in terms of their offerings between cloud-based and on-premises solutions?

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Vendors covered:

Allgress, Acuity Risk Management, Apptega, Diligent, IBM, LogicManager, LogicGate, OneTrust, Metricstream, NAVEX, RSA (Archer), Riskonnect, Reciprocity, Resolver, ServiceNow, SAI360, SDG Corporation, SureCloud, and TechDemocracy.

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Given the escalating cyber threats and digital vulnerabilities, vendors specializing in IT risk management increasingly harness technologies like artificial intelligence, machine learning, and predictive analytics to enable continuous monitoring of activities. Concurrently, global regulations and compliance standards are growing stricter, with regulators placing greater emphasis on risk monitoring, segregation of duties (SOD) management reporting, and continuous control monitoring (CCM).

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