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Risk Management Software Market size is set to grow by USD 11.05 billion from 2024-2028, Increase in data and security breaches among enterprises boost the market, Technavio

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NEW YORK, July 18, 2024 /PRNewswire/ — The global risk management software market size is estimated to grow by USD 11.05 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.69%  during the forecast period. Increase in data and security breaches among enterprises is driving market growth, with a trend towards rising adoption of cloud-based risk management solutions. However, high cost and complexity in installation and configuration of the software  poses a challenge. Key market players include Aravo Solutions Inc., Cura Global GRC Solutions PTE LTD., Dell Technologies Inc., Diligent Corp., Fusion Risk Management Inc., Ideagen, International Business Machines Corp., Intertek Group Plc, Kroll LLC, LogicGate Inc., LogicManager Inc., MetricStream Inc., NAVEX Global Inc., ProcessUnity Inc., Riskonnect Inc., RSM International Ltd., SAP SE, Stiftelsen Det Norske Veritas, Thomson Reuters Corp., and Wolters Kluwer NV.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Risk Management Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.69%

Market growth 2024-2028

USD 11055 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

16.01

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 31%

Key countries

US, UK, Japan, Germany, and Canada

Key companies profiled

Aravo Solutions Inc., Cura Global GRC Solutions PTE LTD., Dell Technologies Inc., Diligent Corp., Fusion Risk Management Inc., Ideagen, International Business Machines Corp., Intertek Group Plc, Kroll LLC, LogicGate Inc., LogicManager Inc., MetricStream Inc., NAVEX Global Inc., ProcessUnity Inc., Riskonnect Inc., RSM International Ltd., SAP SE, Stiftelsen Det Norske Veritas, Thomson Reuters Corp., and Wolters Kluwer NV

Market Driver

Cloud-based risk management solutions are gaining popularity among organizations due to their advantages over traditional on-premises systems. These solutions enable real-time risk visibility, scalability, flexibility, and cost savings. For instance, RiskCloud and LogicManager are cloud-based risk management platforms that offer comprehensive risk management tools and services. They help identify, assess, mitigate, and monitor risks across business activities, providing real-time insights through reporting capabilities. These solutions are particularly beneficial for organizations with multiple locations or remote workers, enabling access from anywhere with an internet connection and promoting team collaboration. Additionally, cloud-based risk management solutions offer enhanced security and data protection through dedicated security teams and advanced security technologies. These factors are driving the growth of the global risk management software market. 

The Risk Management Software Market is experiencing significant growth due to increasing trends in phishing attacks, extortion, and cybersecurity threats. Awareness towards data security is on the rise, driving the demand for innovative cybersecurity solutions. Economic uncertainties and financial constraints have led end-users to seek cost-effective solutions from risk management providers. Deployment modes vary from cloud-based and mobile solutions to on-premises, catering to diverse business needs. Component-wise, predictive analytics, machine learning, and natural language processing are key trends. The insurance sector, financial institutions, IT industry, and other end-users are adopting these solutions for risk assessment, decision making, and risk mitigation activities. Pre-loss prevention and post-loss management activities are crucial in the current digital age, with real-time capabilities, document storage, financial reporting, and integrated banking essential features. Product developers continue to focus on secure technology to combat identity theft and other cyber threats. The market’s growth prospects are promising, with rapid digitalization and the widespread use of smartphones driving demand. 

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Market Challenges

Risk management software is a valuable tool for businesses to identify and mitigate potential risks and threats. However, the installation and configuration process can be costly and complex due to customization needs and system integrations. Every business has unique risk management requirements, necessitating a consultation process with vendors to ensure customization. Integration with existing systems, such as financial management or customer relationship management software, also adds complexity. Additionally, data security is a significant consideration, requiring secure installation and configuration, often involving encryption or access control. For instance, a healthcare provider implementing risk management software must consider data privacy and medical record confidentiality, necessitating customization and seamless integration with electronic medical records. These factors contribute to the high cost and complexity of risk management software, potentially hindering market growth.The Risk Management Software market faces several challenges that organizations must address to ensure effective risk mitigation. Security breaches pose a significant threat, requiring technological expertise to prevent cyber-attacks and data breaches. Developing economies present opportunities for expansion but also bring infrastructure challenges. Trade regulations and production analysis are critical issues, especially in association with legal liabilities and financial uncertainty. Risk management software is a primary driver for addressing these challenges, offering assessment, summarization, and visualization capabilities. However, software installation, configuration, and infrastructure requirements can be complex. Cloud-based applications offer flexibility but introduce security risks, particularly in the work-from-home culture. Moreover, natural disasters and data-related risks add to the complexity. Cybercriminals target digital media and communication networks, causing damage and loss. Strategic decisions regarding risk management software implementation require careful consideration of these challenges and the potential risks involved. The board must be aware of these issues and make informed decisions to mitigate risks and protect their organization.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This risk management software market report extensively covers market segmentation by  

Component 1.1 Software1.2 ServicesDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Software-  The global risk management software market’s software segment is experiencing notable growth due to the rising demand for tools that mitigate risks and enhance organizational performance. This expansion is driven by technological advancements, escalating data volumes, and the necessity for proficient risk analysis and management. Two prominent software types in this market are quantitative risk assessment software and simulation software. Quantitative risk assessment software quantifies risks using statistical tools and algorithms, and it’s widely adopted in finance, healthcare, and insurance sectors. Simulation software predicts potential outcomes and evaluates risks’ impact on business operations, commonly used in various industries, including finance, healthcare, and energy. Risk management software’s advantages include automating complex processes, such as compliance management, which ensures regulatory adherence, streamlines the process, and eliminates manual errors. Additionally, predictive analytics software, a crucial software type, analyzes historical trends to identify potential risks and predict future outcomes, making it indispensable in finance, healthcare, and energy industries. These factors are anticipated to fuel the adoption of software in the global risk management software market throughout the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global GRC platform market is poised for robust growth driven by increasing regulatory complexities and the need for streamlined risk management across industries. GRC platforms integrate governance, risk, and compliance management to enhance operational efficiency and ensure regulatory adherence, thereby mitigating organizational risks effectively.

The global treasury and risk management software market is experiencing significant expansion fueled by rising financial complexities and the imperative for efficient cash flow management. These software solutions empower organizations to optimize liquidity, manage financial risks, and enhance decision-making through advanced analytics and real-time insights, catering to diverse financial needs across sectors.

Research Analysis

The Risk Management Software market is experiencing significant growth due to the rapid digitalization of businesses and the increasing use of smartphones. Traditional administrative and financial tasks are being automated, making way for real-time risk assessment, decision making, and mitigation activities. Online, cloud-based applications are becoming the preferred choice for end-users, offering document storage and easy access to risks and issues from anywhere. Risk boards can monitor and manage legal liabilities, financial uncertainty, and security risks in real-time. The association between risk management and data security is becoming increasingly important, with the need for robust systems to protect sensitive information. Pre-loss prevention is a key focus area, with organizations seeking to minimize potential issues before they become major problems. Deployment types include on-premises, cloud-based, and hybrid solutions.

Market Research Overview

Risk management software is a critical tool for organizations to mitigate various risks in today’s digitally-driven world. With the increasing use of smartphones and digitization, administrative and financial tasks are being automated, leading to the growth of cloud-based, real-time risk management solutions. Document storage, financial reporting, integrated banking, and organizational data are some key features of these applications. Product developers are focusing on secure technology to address identity theft and cybersecurity issues in financial institutions and the IT industry. Cloud-based security solutions are primary drivers for growth, with cloud-based application deployment being a preferred mode. Growth segments include developing economies, work-from-home culture, and expanding operations in digital media and communication networks. Risk management software addresses various risks, including financial uncertainty, legal liabilities, security risks, natural disasters, and data-related risks. Innovative solutions for risk assessment, decision making, and mitigation activities are in high demand. End-users include various industries, with deployment types ranging from on-premises to cloud-based. Rapid digitalization and economic uncertainties are primary growth drivers, but cybercrimes, such as phishing attacks, extortion, and cyber-attacks, pose significant challenges. Pre-loss prevention and post-loss management activities are essential components of effective risk management.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareServicesDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TELUS transforms legacy telecommunications site into 195 new homes for Nanaimo

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Across Canada, demand for rental housing continues to outpace supply. TELUS Living is helping address this challenge by transforming existing TELUS properties into smart, sustainable homes in communities where new housing is needed most.

NANAIMO, BC, July 23, 2026 /CNW/ — TELUS Living today opened a new 195-home purpose-built rental community in downtown Nanaimo, transforming a former telecommunications property into smart, sustainable housing that helps address one of Canada’s most pressing challenges: increasing rental supply in growing communities. Located at 235 Wallace St, the multi-storey, mixed-use build features 195 purpose-built rental units, providing much-needed housing supply to downtown Nanaimo, while thoughtfully honouring the city’s unique coastal identity and heritage.

The Nanaimo development is part of TELUS’ long-term strategy to repurpose legacy telecommunications infrastructure into purpose-built rental housing as the company modernizes its network and completes the transition from copper to PureFibre technology. The Nanaimo community joins TELUS Living’s growing portfolio of developments that are transforming underutilized TELUS properties into housing across Canada.

“The Nanaimo development represents exactly what TELUS Living stands for by providing purpose-built rental housing tailored to the specific needs of the community it serves. We’ve designed 235 Wallace St with Nanaimo’s unique character in mind, offering a curated lifestyle that blends a climate-conscious, Zero Carbon Design approach with top-tier wellness and smart-tech amenities,” said Manasweeta Bhatia, Vice President of Corporate Real Estate at TELUS. “We shape every TELUS Living project by listening to the community, understanding its unique identity and design needs, and building accordingly. Its central downtown location and proximity to both Vancouver Island University and Nanaimo Regional General Hospital also position it as an ideal home for students, educators, and healthcare workers seeking modern, connected living.”

“More housing and good jobs are a win-win for downtown Nanaimo,” said Sheila Malcolmson, MLA for Nanaimo-Gabriola Island. “Adding to the approximately 1,500 affordable homes our B.C. government has completed and underway in Nanaimo, it’s great to see TELUS stepping up with 195 new units. It’s been great to see hundreds of construction and indirect jobs in town, and I can’t wait to see folks move into their new homes.”

“I’m thrilled to see a new rental option in downtown Nanaimo, and especially excited that this conversion was made with sustainability and active transportation in mind,” said George Anderson, MLA for Nanaimo-Lantzville. “Ensuring everyone can find homes they can afford in the communities they love requires creative approaches, and I hope to see more creativity like this in the future.”

“I’m delighted to celebrate the opening of TELUS Living Nanaimo, a landmark project that strengthens our downtown as a vibrant, inclusive place to live,” said Leonard Krog, Mayor of Nanaimo. “This partnership between the City of Nanaimo, our community, and TELUS demonstrates what’s possible when we work together toward shared goals. The addition of nearly 200 diverse housing options is exactly what our city needs, and we’re excited about the positive impact this will have on our community. TELUS’ commitment to our city and investment in our future will contribute to Nanaimo’s economic and social vitality.”

Situated within walking distance of downtown’s vibrant cafes, eclectic Old City Quarter, the iconic Harbourfront Walkway, and a short transit ride from Vancouver Island University and Nanaimo Regional General Hospital, the development is architecturally designed to blend classic and contemporary exterior elements. Curated for modern living, the community offers an expansive suite of indoor and outdoor social amenities alongside street-level retail and public art contributions.

Project Highlights:

Smart-Enabled Living: Powered by the TELUS PureFibre network, the custom TELUS Living App provides keyless entry, smart climate control, leak detection, parcel notifications, visitor management, and amenity bookings.Social & Wellness Amenities: Features a rooftop deck with an outdoor kitchen, BBQs, and panoramic views, alongside a state-of-the-art fitness centre and resident lounge.Pet & Active Lifestyle Ready: Equipped with a dedicated children’s outdoor play area, outdoor bark park and pet care station, secure underground parking, bike storage and maintenance facilities.Premium Functional Interiors: Studio to three-bedroom layouts include private balconies, individual A/C with Energy Recovery Ventilators (ERVs) for optimal air quality, Samsung SmartThings appliances, and in-suite laundry.Gold-Standard Sustainability: Sets a Vancouver Island benchmark aligned with Zero Carbon Design standards and Salmon-Safe development guidelines that actively protects local ecosystems.

This opening marks a significant milestone in TELUS Living’s mission to transform existing real estate holdings into purpose-built rentals that bridge the housing gap with smart, sustainable, and community-focused developments. As TELUS completes its transition from legacy copper to advanced fibre networks, the company is transforming its historic central offices–which once served as the backbone of B.C.’s phone system–into vibrant, smart, purpose-built rental communities. TELUS Living is breathing new life into these properties to help address Canada’s housing crisis. For more details on TELUS Living Nanaimo or to view available floor plans, please visit telusliving.com/nanaimo.

About TELUS

TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 17 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. TELUS Health is enhancing approximately 170 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. TELUS Digital specializes in digital customer experiences and future-focused digital transformations that deliver value for their global clients. Guided by our enduring ‘give where we live’ philosophy, TELUS continues to invest in initiatives that support education, health and community well-being. In 2023, we launched the TELUS Student Bursary, which strives to ensure that every young person in Canada who wants a postsecondary education has the opportunity to pursue one. To date, the program has distributed over $6 million in bursaries to 2,000 students and counting. Since 2000, TELUS, our team members and retirees have contributed $1.85 billion in cash, in-kind contributions, time and programs, including 2.5 million days of service–earning TELUS the distinction of the world’s most giving company.

For more information, visit telus.com.

For more information, please contact:
Brandi Rees
TELUS Public Relations
brandi.rees@telus.com 

SOURCE TELUS Communications Inc.

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Award-Winning Author Euran Daniels to Deliver Opening Keynote at International Nevus Outreach Conference, Unveiling New $100,000 Global Initiative to Advance CMN Research and Awareness

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ORLANDO, Fla., July 24, 2026 /PRNewswire/ — Award-winning author, entrepreneur, and Congenital Melanocytic Nevus (CMN) advocate Euran S. Daniels will deliver the opening keynote address at the 2026 Nevus Outreach International Conference on Sunday, July 26, 2026, at 1:00 p.m. at the Renaissance Orlando at SeaWorld®.

Launching the conference under this year’s theme, “Amplify,” Daniels will share his personal journey of living with CMN for more than 50 years and challenge attendees to transform awareness into meaningful action through hope, advocacy, and research.

During his keynote, Daniels will unveil a new global initiative aimed at expanding awareness and inspiring greater support for CMN research. The initiative will encourage individuals, healthcare organizations, corporations, and philanthropists to join a collaborative effort to improve the lives of those affected by this rare skin condition.

“For more than fifty years, I’ve lived with a visible mark that became my purpose,” said Daniels. “My hope is that every person leaves this conference believing they can make a difference by amplifying hope, supporting research, and leaving a positive impact on the lives of others.”

CMN is a rare skin condition present at birth that, in its larger forms, affects approximately 1 in every 20,000 births. Individuals living with CMN may face complex medical challenges, including an increased risk of melanoma, multiple surgeries, and the emotional impact of living with a visible difference.

Daniels’ keynote will focus on three powerful messages: You’re Not Alone. Live Your Life. Leave Your Mark.Through his story of resilience and leadership, he hopes to inspire families, advocates, researchers, and community leaders to work together to create greater awareness and opportunity for those living with CMN.

Media are invited to attend the keynote address to learn more about this initiative. 

For more information, visit www.EuranDaniels.com or to support CMN research, visit www.nevus.org/joineuran.

Media Contact:
Media Relations – Fanisha Love (910) 262-3439
Email: info@danielscompany.com
Website: www.EuranDaniels.com

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SOURCE Daniels Company

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Immigration Desk Shares Guidance for Entrepreneurs and Foreign Businesses Planning US Expansion in 2026

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NEWTON, Mass., July 24, 2026 /PRNewswire/ — Immigration Desk is highlighting key immigration considerations for entrepreneurs, investors, and foreign-owned companies looking to establish or expand a presence in the United States, as interest in cross-border growth continues alongside evolving visa procedures and compliance expectations. The firm noted that many business owners plan with a general goal of opening a US office,  only to be met by a system that favors careful planning and documentation. 

Immigration planning often intersects with business planning, with company structure, ownership percentage, funding sources, job roles, and operational timelines influencing the pathways available and evidence required. A viable business plan alone often isn’t enough, and applicants must also meet specific legal definitions tied to visa categories. Those definitions, however, can differ significantly depending on the route pursued.

“Business immigration is not a single form or a single standard,” said Anu Gupta, attorney at Immigration Desk. “Entrepreneurs and foreign businesses often come to the process thinking in terms of growth goals like opening a location, hiring, and launching a product. However, the immigration system asks for detailed proof of role, eligibility, and structure. Planning early helps align those two realities and avoids last-minute surprises.”

Immigration Desk notes that entrepreneurs and foreign businesses typically evaluate options based on the nature of the US activity and the individual’s role. For some, the relevant question is whether a company can transfer an executive, manager, or specialized employee to a US office under an intracompany framework, particularly when the business can document a qualifying relationship between entities.

For others, the analysis may focus on investment-based categories where the applicant is actively directing and developing a US enterprise. In still other cases, founders may explore categories that emphasize extraordinary ability, research-based work, or employer sponsorship, depending on the individual’s background and the company’s needs.

L-1 and E-2 Visas: Pathways for Multinational Companies and Investors

For companies evaluating intracompany transfers, the L-1 visa provides a structured pathway for multinational businesses to bring executives, managers, or employees with specialized knowledge to a U.S. office — including newly established entities. Immigration Desk notes that L-1 cases require careful documentation of the qualifying relationship between the foreign and U.S. companies, as well as a clear demonstration of the applicant’s role and seniority. For new U.S. offices in particular, USCIS applies additional scrutiny to whether the operation is sufficiently established to support the position being petitioned.

The E-2 treaty investor visa offers a separate route for entrepreneurs from qualifying treaty countries who are making a substantial investment in and actively directing a U.S. enterprise. While the E-2 does not require a minimum investment threshold, Immigration Desk emphasizes that the investment must be proportional to the nature of the business and at risk in a commercial sense — factors that require careful structuring and documentation from the outset. Unlike some other business visa categories, the E-2 does not provide a direct path to permanent residency, which means founders relying on it should also plan for long-term status options early in the process.

The firm also points to a recurring challenge for growth-stage companies: staffing. Employer-sponsored visas can involve strict timing, evolving agency practices, and in some categories, annual numerical limits. In recent years, many employers have sought clarity on how to plan around the H-1B cap and lottery cycle, particularly when hiring needs don’t align neatly with government filing windows.

While the H-1B category remains widely used for specialized professional roles, Immigration Desk emphasizes that businesses should treat it as one part of a broader hiring and compliance plan rather than a single solution, especially when role definitions, worksite compliance, and documentation requirements are central to adjudication.

“People often focus on the name of a visa category, but the practical work is in the documentation and the operational reality behind the petition,” Gupta added. “For businesses, that means understanding what the government expects in terms of job duties, business activity, and the evidence that supports eligibility. For entrepreneurs, it can mean clarifying ownership, funding, and what day-to-day leadership looks like in a way that is consistent and well documented.”

Immigration Desk also notes that immigration planning frequently involves risk management. Businesses may need to consider how quickly a US operation must become functional, what happens if timelines shift, and how to maintain continuity if a petition is delayed or requires additional review. For founders, the concerns often include whether a pathway supports both business operations and personal stability, including travel, family planning, and long-term status options.

The firm cautions that immigration outcomes depend on individualized facts and that what works for one company may not apply to another. However, the most consistent problems, like incomplete timelines, inconsistent documentation, unclear roles, and last-minute filings, are completely avoidable. In response to those issues, Immigration Desk encourages business owners to approach US immigration as a phased process that begins with strategy and thorough preparation, with an operational plan for compliance after arrival.

For more information, please refer to the company’s website.

Immigration Desk
704 Walnut Street Newton, MA 02459
1-800-688-7892
https://immigrationdesk.com/
clients@ImmigrationDesk.com 

At Immigration Desk, attorney Anu Gupta and her team have helped thousands of entrepreneurs, investors, and multinational companies navigate complex immigration matters. With more than 40 years of combined experience and over 10,000 immigration cases handled, the firm has developed a reputation for careful preparation and strategic case planning. Whether you are a startup founder, a multinational executive, or an investor seeking to establish a presence in the United States, Immigration Desk can help you determine the most effective immigration strategy for your situation.

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SOURCE Immigration Desk

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