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Global Operational Risk Management Market to Grow to 1.68bn by2013...



Leading analyst, Chartis Research, forecasts the worldwide operational risk management (ORM) market to grow to $1.68bn by 2013 at a compound annual growth rate (CAGR) of 6.9%. This growth is fueled by:



> On-going replacement market, as first generation ORM systems have proven to be too rigid or not scalable.


> Ongoing demand from emerging markets of Asia, Africa and Latin America


> Increased demand in specific vertical segments such as insurance, asset/fund management and broker/dealers.


> Convergence of oprisk, ERM and GRC


> Increased focus on benefits of compliance



Increasingly firms are moving away from their fixation on box-ticking compliance and are working towards integrating ORM into everyday business activities. Comments Peyman Mestchian, Head of Advisory Board at Chartis, This has resulted in development of value-based ORM initiatives to justify the required budgets for comprehensive ORM and GRC systems.



On the supply side, the market is still fragmented and selecting an ORM system is highly dependent on the specific needs, sophistication and geographical location of the buyer. Successful ORM software vendors have continued to invest in R's38;D. Much of this investment has focused on increasing the flexibility and user-configurability of the products. Integration of components such as loss data, RCSA, KRIs, scenario analysis, capital calculation and reporting on a single technology platform has also consumed much of the product development efforts. A clear trend among the leading solutions is the integration/packaging of best-practice content (e.g. loss data, risk/control libraries, KRIs).



This report is an update to Chartis's 2008 report on operational risk management systems. It looks at both the demand and supply side of the market. It covers the main market and regulatory requirements and the competitive landscape. The report also includes updated forecasts of market size, competitive landscape (covering 18 ORM system vendors) and future outlook.



The full report is available at www.chartis-research.com.






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