Risk Management Consulting Market Report 2025 (Global Edition)

Global Risk Management Consulting Market Report 2025 Market Size Split by Type (Operational Risk Management, Credit Risk Management, Cybersecurity & Digital Risk, Network Risk, Balance Sheet Managemen...

Risk Management Consulting Market Report Description

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Competitive Landscape of the Risk Management Consulting market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge products, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Risk Management Consulting Industry News 

In September 2023, Financial markets were shaken by several major risk events in the last year, including the collapse of Silicon Valley Bank (SVB) in March, which roiled the banking sector and ultimately led to the forced takeover of Credit Suisse. 

(Source: https://www.risk.net/awards/7957788/risk-management-consultant-of-the-year-kpmg)

In January 2024, BCG will be a trusted partner for our clients at their most critical moments, going beyond regulatory readiness to help organizations ensure operational readiness for any compliance, regulatory risk management, or crisis response scenario.

(Source: https://www.bcg.com/capabilities/risk-management-and-compliance/compliance-and-crisis-management)

Top Companies Market Share in Risk Management Consulting Industry: (In no particular order of Rank)

• KPMG
• Deloitte
• FTI Consulting
• Oliver Wyman
• Accenture
• Marsh
• Pwc
• EY
• Capgemini
• Princeton Holdings Limited
• Mercadien Group
• Metrics
• Silver Stone Group
• Others
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Risk Management Consulting

Which Region will dominate the Risk Management Consulting Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Risk management consultants to ensure compliance with laws, regulations, and industry standards such as the Sarbanes-Oxley Act (SOX), medical portability, etc., due to stringent regulatory requirements in industries such as finance, healthcare, and technology. North America has stringent regulatory frameworks across various industries, including finance, healthcare, energy, and technology. Companies operating in these sectors are required to comply with a myriad of regulations related to data protection, financial reporting, environmental sustainability, and consumer privacy, among others. With high-profile data breaches, ransomware attacks, and cyber threats, organizations are turning to cybersecurity risk management consulting services to protect sensitive information, improve cybersecurity, and comply with data privacy regulations such as the California Consumer Regulations. 

Which Region is Expanding at the Fastest CAGR?

The European region is witnessing an increase; With the proliferation of digital technologies and the increasing frequency of cyber threats, cybersecurity has become a top priority for organizations across Europe. High-profile data breaches, ransomware attacks, and cybersecurity incidents have highlighted the importance of robust risk management practices to protect sensitive information, intellectual property, and critical infrastructure. Risk management consulting firms play a vital role in helping organizations assess their cybersecurity risks, develop comprehensive risk mitigation strategies, and enhance their cyber resilience posture.

The current report Scope analyzes Risk Management Consulting Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Risk Management Consulting Market

According to Cognitive Market Research, the global Risk Management Consulting market size was estimated at USD 113681.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 45472.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031. 5. The financial services industry in North America is subject to rigorous regulatory oversight, particularly in the aftermath of the global financial crisis and subsequent regulatory reforms. Financial institutions face regulatory requirements related to risk management, capital adequacy, liquidity management, anti-money laundering (AML), and fraud prevention. Risk management consulting firms offer specialized expertise in financial risk management, regulatory compliance, stress testing, model validation, and internal controls, supporting financial institutions in navigating regulatory complexities and enhancing their risk management capabilities.

According to Cognitive Market Research, the US had a major share in the Risk Management Consulting market with a market size of USD 35877.79 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. The US boasts sophisticated, high-profile data breaches, ransomware attacks, and cyber threats; organizations are turning to cybersecurity risk management consulting services to protect sensitive information, improve cybersecurity, and comply with data privacy regulations such as the California Consumer Regulations. We encourage investment in—privacy Protection Act (CCPA).

• The Canada Risk Management Consulting market had a market share of USD 5456.70 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. The rapid adoption of digital technology and cloud computing is driving demand for risk management consultants who address the risks of digital transformation, including cybersecurity, data privacy, regulatory compliance, and technology integration challenges.
• The Mexico Risk Management Consulting market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 4138.00 million in 2024.

 

Europe Risk Management Consulting Market

According to Cognitive Market Research, with a market value of USD 113681.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 34104.36 million. Organizations in Europe are increasingly adopting enterprise risk management (ERM) frameworks to holistically identify, assess, and manage risks across their operations. ERM enables companies to integrate risk management into strategic planning processes, align risk appetite with business objectives, and enhance decision-making transparency. Risk management consulting firms assist clients in implementing ERM programs, conducting risk assessments, establishing risk governance structures, and embedding risk management practices into organizational culture.

• The United Kingdom Risk Management Consulting market had a market share of USD 5729.53 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period. Brexit and the ongoing Brexit negotiations will create regulatory uncertainty, geopolitical risk, and trade disruption for companies operating in Europe, as well as the impact of Brexit.

• The France Risk Management Consulting market is projected to witness growth at a CAGR of 5.2% during the forecast period with a market size of USD 3137.60 million in 2024.
• According to Cognitive Market Research, the Germany Risk Management Consulting market size was valued at USD 6752.66 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. In Germany, Germany is renowned for its advanced infrastructure and high standards. 
• The Italy Risk Management Consulting market is projected to grow at a CAGR of 5.4% during the forecast period, reaching a market size of USD 2932.97 million in 2024.
• The Russia Risk Management Consulting market is projected to grow at a CAGR of 5.0% during the forecast period, reaching a market size of USD 5286.18 million in 2024.
• The Spain Risk Management Consulting market is projected to grow at a CAGR of 5.1% during the forecast period, reaching a market size of USD 2796.56 million in 2024.
• The Luxembourg Risk Management Consulting market is projected to grow at a CAGR of 6.1% during the forecast period, reaching a market size of USD 1057.24 million in 2024.
• The Portugal Risk Management Consulting market is projected to grow at a CAGR of 5.8% during the forecast period, reaching a market size of USD 716.19 million in 2024.
• The Greece Risk Management Consulting market is projected to grow at a CAGR of 6.3% during the forecast period, reaching a market size of USD 409.25 million in 2024.
• The rest of the Europe Risk Management Consulting market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 5286.18 million in 2024.

 

Asia Pacific Risk Management Consulting Market

According to Cognitive Market Research, the global Risk Management Consulting market size was estimated at USD 113681.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 26146.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031. Asia's role as a global manufacturing and supply chain hub exposes companies to supply chain risks such as geopolitical tensions, trade disputes, natural disasters, and disruption. These are driving the demand for supply chain risk management consulting. Services to improve supply chain resilience and reduce operational risk. The diverse regulatory environments of Asian countries create compliance challenges for multinational companies operating in the region, which must manage regulatory requirements, ensure compliance with local laws, and mitigate regulatory risks in areas such as data. Demand for mitigating risk management consultants is increasing. 

• According to Cognitive Market Research, the China Risk Management Consulting market size was valued at USD 11766.0 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. The rapid adoption of digital technologies such as e-commerce, fintech, and artificial intelligence in Asia is creating opportunities and risks for businesses to address cybersecurity threats and data privacy concerns.

• The Japan Risk Management Consulting market is projected to grow at a CAGR of 8.0% during the forecast period, reaching a market size of USD 3608.24 million in 2024.

• The India Risk Management Consulting market had a market share of USD 3137.60 million in 2024 and is projected to grow at a CAGR of 11.3% during the forecast period. Technology consultants are in high demand for risk management, technology risks, and regulatory compliance challenges associated with digital transformation.
• The South Korea Risk Management Consulting market is projected to grow at a CAGR of 8.6% during the forecast period, reaching a market size of USD 2614.67 million in 2024.
• The Australia Risk Management Consulting market is projected to grow at a CAGR of 9.2% during the forecast period, reaching a market size of USD 1359.63 million in 2024.
• The South East Asia Risk Management Consulting market is projected to witness growth at a CAGR of 10.5% during the forecast period, with a market size of USD 1804.12 million in 2024.
• The Rest of the Asia Pacific Risk Management Consulting market is projected to grow at a CAGR of 9.3% during the forecast period, reaching a market size of USD 1856.41 million in 2024.

 

South America Risk Management Consulting Market

According to Cognitive Market Research, the global Risk Management Consulting market size was estimated at USD 113681.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 5684.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031. Latin America's political instability, economic instability, and currency fluctuations pose risks to companies operating in the region, which require companies to assess political risk, manage foreign exchange risk, and manage regulatory requirements. 

According to Cognitive Market Research, the Brazil Risk Management Consulting market size was valued at USD 2432.78 million in 2024 and is projected to grow at a CAGR of 7.5 % during the forecast period. As Brazil is prone to natural disasters such as hurricanes, earthquakes, and floods, as well as environmental risks such as deforestation, pollution, and the effects of climate change, risk management consultants are in demand. is increasing

• The Argentina Risk Management Consulting market had a market share of USD 954.92 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. Infrastructure projects in sectors such as energy, transportation, and communications demand risk management consultants to assess project risk, secure financing, manage regulatory compliance, and mitigate geopolitical risks associated with infrastructure investments in Argentina.
• The Colombia Risk Management Consulting market is projected to grow at a CAGR of 6.7% during the forecast period, reaching a market size of USD 505.88 million in 2024.
• The Peru Risk Management Consulting market is projected to grow at a CAGR of 7.1% during the forecast period, reaching a market size of USD 466.09 million in 2024.
• The Chile Risk Management Consulting market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 409.25 million in 2024.
• The Rest of Latin America Risk Management Consulting market is projected to grow at a CAGR of 6.0% during the forecast period, reaching a market size of USD 915.13 million in 2024.

 

Middle East and Africa Risk Management Consulting Market

According to Cognitive Market Research, the global Risk Management Consulting market size was estimated at USD 113681.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2273.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031. With the proliferation of digital technologies and the increasing frequency of cyber threats, cybersecurity has become a top priority for organizations across MEA. High-profile data breaches, ransomware attacks, and cybersecurity incidents have highlighted the importance of robust risk management practices to protect sensitive information, intellectual property, and critical infrastructure. 

According to Cognitive Market Research, the GCC Countries Risk Management Consulting market size was valued at USD 973.11 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Political instability, economic uncertainty, and regulatory challenges in some African countries pose risks to companies operating in the region, and they need to navigate the regulatory environment and assess political risks. There is a growing demand for risk management consultants to develop risk mitigation strategies.

• The Egypt Risk Management Consulting market is projected to grow at a CAGR of 7.5% during the forecast period, reaching a market size of USD 238.73 million in 2024.
• The South Africa Risk Management Consulting market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 359.23 million in 2024. Extraction of natural resources, such as oil, gas, and minerals, poses environmental, social, and geopolitical risks for companies operating in extractive industries and assesses their environmental impact.
• The Turkey Risk Management Consulting market is projected to grow at a CAGR of 6.7% during the forecast period, reaching a market size of USD 195.53 million in 2024.
• The Nigeria Risk Management Consulting market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 238.73 million in 2024.
• The Rest of the MEA Risk Management Consulting market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 268.29 million in 2024.

Risk Management Consulting Market Analysis

Risk Management Consulting Type  Segment Analysis

According to Cognitive Market Research, Advanced Risk Analytics held the major market share over the forecast period. This dominance can be attributed to several factors, including requirements for organizations to more accurately identify risks by analyzing large amounts of data from multiple sources, allowing organizations to predict and mitigate potential threats proactively

Balance Sheet Management Climate is the fastest-growing category over the forecast period. Risk management consultants help organizations optimize their asset and liability mix based on their risk appetite, liquidity needs, and profitability goals. They evaluate interest rate risk, liquidity risk, credit risk, and market risk exposure on the balance sheet and develop an ALM strategy to manage these risks effectively. 

• Advanced Risk Analytics
• Balance Sheet Management
• Credit Risk Management
• Cybersecurity & Digital Risk
• Network Risk
• Operational Risk Management
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Risk Management Consulting Industry. Request a Free Sample PDF!

Risk Management Consulting End Users Segment Analysis

According to Cognitive Market Research, Large enterprises hold a prominent market share. External risk management consultants provide an objective perspective on risk, eliminating internal bias and conflicts of interest. This fairness allows you to identify blind spots and areas for improvement that may be overlooked within your company. Risk management consultants tailor their services to each client's specific needs and challenges, providing customized solutions that meet the client's unique risk profile, business objectives, and regulatory requirements.

SMEs are the fastest-growing category over the forecast period. Consultants perform detailed risk assessments and analyses using advanced methodologies and tools to identify, quantify, and prioritize risks across multiple areas of your business, including operational, financial, compliance, and reputational. Consultants can help you develop a comprehensive risk management strategy that aligns with your organization's goals and risk appetite. These can help you define risk tolerance thresholds, develop risk mitigation plans, and implement monitoring mechanisms to track your exposure to risk over time.

• Large Enterprise
• SME

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Risk Management Consulting Industry Segment Analysis

According to Cognitive Market Research, Financial institutions hold a prominent market share. Financial institutions operate in highly regulated environments and must comply with a myriad of regulations, such as Basel III, the Dodd-Frank Act, Anti-Money Laundering (AML) laws, and Know Your Customer (KYC) requirements. Risk management consultants assist in interpreting regulatory guidelines, assessing compliance gaps, and implementing risk-based compliance programs to ensure adherence to regulatory requirements.

Insurance Payments & Transaction Banking is the fastest-growing category over the forecast period. Insurance companies rely on accurate risk assessment to determine premiums, underwrite policies, and manage insurance portfolios effectively. Risk management consultants help develop underwriting guidelines, assess risk exposures, and implement risk-based pricing models to optimize underwriting decisions and enhance profitability. Actuarial analysis is essential for insurance companies to estimate liabilities, reserves, and pricing adequacy accurately. Risk management consultants provide actuarial expertise in analyzing insurance risks, projecting future cash flows, valuing insurance liabilities, and conducting reserving studies to ensure financial solvency and regulatory compliance.

• Banking and Financial Services
• Automotive
• IT and Telecom
• Retail
• Healthcare
• Energy and Utilities
• Manufacturing
• Government and Defense
• Others

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion