The Australia risk management market size reached USD 270.00 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 782.48 Million by 2033, exhibiting a growth rate (CAGR) of 12.55% during 2025-2033. The rising frequency of cybersecurity threats, expanding regulatory compliance demands, increased enterprise digitization, heightened focus on governance and data protection, rising focus on regulatory alignment, and the surging need for proactive threat mitigation across diverse sectors are among the key factors propelling the market growth.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 270.00 Million |
Market Forecast in 2033 | USD 782.48 Million |
Market Growth Rate 2025-2033 | 12.55% |
Escalating Cybersecurity Threats and Digital Transformation
Australia's rapid digital transformation across sectors has expanded the attack surface for cyber threats, making cybersecurity a critical component of risk management. The proliferation of remote work, cloud services, and digital platforms has introduced new vulnerabilities, compelling organizations to invest in advanced security measures. Australian organizations are projected to spend over AUD 7.3 billion on information security and risk management products and services in 2024. In line with this, cloud security is expected to witness the largest growth, with a 26.9% increase anticipated in 2024 due to the surge in cyber incidents, including ransomware attacks and data breaches. In a 2023 survey conducted by the Australian Institute of Criminology, 47% of respondents reported experiencing at least one cybercrime in the preceding 12 months, underscoring the pervasive nature of digital threats. This environment has led to increased adoption of integrated risk management solutions that encompass cybersecurity, data protection, and compliance, thereby driving market growth.
Increasing Regulatory Complexities and Compliance Requirements
The evolving regulatory landscape in Australia has intensified the need for comprehensive risk management frameworks. Organizations are navigating a complex web of regulations pertaining to data privacy, financial reporting, and operational transparency. In addition to this, high-profile cyber incidents have further catalyzed regulatory scrutiny. For instance, in January 2024, Russian hackers infiltrated 65 Australian government departments and agencies, stealing 2.5 million documents in the country's largest government cyberattack. Such events have prompted regulators to enforce stricter compliance measures, compelling organizations to adopt enterprise governance, risk, and compliance solutions that facilitate real-time risk assessment, policy management, and audit readiness. The integration of these solutions not only ensures compliance but also enhances organizational resilience, thereby contributing to the growth of the risk management market.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on component, deployment mode, enterprise size, and industry vertical.
Component Insights:
The report has provided a detailed breakup and analysis of the market based on the component. This includes software and service.
Deployment Mode Insights:
A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes on-premises and cloud-based.
Enterprise Size Insights:
The report has provided a detailed breakup and analysis of the market based on the enterprise size. This includes large enterprises and small and medium-sized enterprises.
Industry Vertical Insights:
A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, government and defense, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Components Covered | Software, Service |
Deployment Modes Covered | On-premises, Cloud-based |
Enterprise Sizes Covered | Large Enterprises, Small and Medium-sized Enterprises |
Industry Verticals Covered | BFSI, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Government and Defense, Others |
Regions Covered | Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, Western Australia |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |