GCC Risk Management Market

Market Overview:

The GCC risk management market size reached USD 257.0 Million in 2024. Looking forward, the market to is expected to reach USD 874.0 Million by 2033, exhibiting a growth rate (CAGR) of 14.2% during 2025-2033. The growing adoption in the energy sector due to fluctuations in oil prices and geopolitical uncertainties, increasing awareness about information security and data protection, and rising focus on corporate governance represent some of the key factors driving the market.

Risk management is a method that allows businesses and organizations to identify, evaluate, and address potential threats and uncertainties that could impact their operations. It comprises the identification and analysis of various risks, such as financial, operational, regulatory, geopolitical, technological, and market-related factors, which may pose challenges to businesses. It maintains performance and protects the assets and reputation of an organization. It enables organizations to make informed decisions, enhance resilience, and ensure sustainable growth and success in the highly competitive business landscape. It minimizes the adverse effects of potential risks and allows businesses to follow a structured approach that includes risk identification, risk assessment, risk prioritization, risk mitigation, and ongoing monitoring and evaluation. It also benefits in avoiding legal penalties and fines and enhancing the reputation and credibility of a company. It assists in ensuring the long-term sustainability and growth of a business, reducing the impact of disruptions, and maintaining business continuity. Besides this, it aids in enhancing the ability of a business to withstand and recover from adverse events and uncertainties. As it allows for faster and more efficient problem-solving in challenging situations, the demand for risk management is rising in the GCC region.

GCC Risk Management Market Trends:

Enhancing Regulatory Frameworks and Compliance Standards

Governments and financial regulators in GCC nations are progressively implementing tighter regulatory requirements to achieve financial stability and reduce systemic risk. The UAE Cybersecurity Report 2025, created by the UAE Cyber Security Council (CSC) and cybersecurity company CPX, indicates that malicious actors are progressively utilizing AI to execute phishing attacks, disseminate misinformation widely, and compromise critical infrastructure. These AI-driven dangers require a similarly smart and coordinated reaction. Institutions are being asked to implement international risk management frameworks like Basel III, IFRS 17, and Solvency II. Regulatory tightening is forcing companies across industries, mainly banking, insurance, and energy, to upgrade their risk governance frameworks. Organizations are making risk analytics platforms, compliance software, and internal audit systems investments in order to stay compliant and not face regulatory fines. Cross-border trading and foreign investment regulation is also becoming more complex and demands more sophisticated tools and skills for risk identification and mitigation. These changing compliance needs are driving sustained demand for both in-house and outsourced risk management capabilities, as well as growing need for professional services like consulting and audit support across the region.

Speeding Digital Transformation and Cybersecurity Risks

Firms in the GCC are witnessing rapid digitalization, fueled by national visions like Saudi Vision 2030 and the UAE's digital economy plans. The Saudi Vision 2030 Report indicates that Saudi Arabia's digital economy has grown to about SAR495 billion, accounting for 15% of the national GDP, highlighting the rapid expansion of the sector. While operational efficiency is being improved by digitalization, it is also bringing with it increased vulnerability to cyber attacks, data breaches, and information technology (IT) infrastructure risks. With companies relocating their operations to the cloud and embracing technologies such as artificial intelligence (AI), internet of things (IoT), and blockchain, the attack surface for cybercriminals is increasing. This is necessitating that companies embed cybersecurity as an integral element of their enterprise risk management (ERM) planning. To this end, the need for sophisticated risk assessment platforms, threat intelligence systems, and managed security services is surging significantly. Financial institutions, government organizations, and health care providers are especially concerned with cybersecurity expenditures to protect sensitive information and preserve business continuity.

Emerging Technological Innovation in Risk Analytics and AI Integration

Improved access to emerging technologies like AI, ML, big data, and predictive analytics is revolutionizing how organizations manage risk. Across the GCC, businesses are aggressively adopting these technologies to obtain immediate access to risk exposures, streamline risk assessment activities, and facilitate more informed decisions. AI-based solutions are utilized to identify anomalies, simulate intricate risk scenarios, and forecast upcoming threats in financial, operational, and cyber security areas. This digital revolution is facilitating early risk identification, minimizing time and expense taken on manual assessments. In addition, governments and regulatory authorities are encouraging the uptake of fintech and regtech innovations to enhance risk compliance and governance. Market adoption is being driven by the expanding ecosystem of technology vendors, startups, and risk-tech consulting companies. With increasing digital maturity among sectors, AI-driven risk analytics is becoming an essential component of contemporary risk management in the GCC. IMARC Group predicts that the GCC artificial intelligence market is anticipated to attain USD 22.4 Billion by 2033.

GCC Risk Management Market Growth Drivers:

Rising Geopolitical Tensions and Supply Chain Vulnerabilities

Middle East geopolitical dynamics, regional conflicts, trade sanctions, and changing diplomatic allegiances are bringing a considerable degree of uncertainty to business life. These risks are derailing supply chains, impacting cross-border investments, and making it challenging for strategic planning of multinational organizations in the GCC. As the supply chains around the world get increasingly entwined, regional disruptions can have a ripple effect on manufacturing, logistics, and delivery of services. Businesses are implementing more advanced risk modeling tools to evaluate geopolitical exposure and create stronger supply chains. Business continuity planning, scenario analysis, and real-time monitoring are emerging as key elements of risk strategy. Organizations are also looking towards geopolitical risk intelligence services to guide strategic decisions and ensure compliance with global sanctions and trade regimes. This increasing geopolitical uncertainty is driving the need for integrated risk management frameworks that merge strategic foresight with operational agility, especially for companies dealing in international trade and key infrastructure projects.

Increasing Emphasis on ESG and Sustainability Risk Integration

Environmental, Social, and Governance (ESG) considerations are assuming a pivotal position in business planning in the GCC as stakeholders increasingly expect greater transparency, ethical behavior, and sustainable operations. Governments are enacting ESG reporting requirements, and financial institutions are incorporating ESG metrics into lending and investment processes. Organizations are being compelled to recognize and manage climate risk, social compliance risks, and governance failures. The physical and transitional threats of climate change, namely, extreme weather events and carbon transition policies, are especially critical to industries such as oil and gas, utilities, and real estate. ESG risk frameworks are being constructed by companies and third-party consultants hired to evaluate and report on their ESG-linked exposures. Additionally, sustainability-linked bonds and green financing vehicles are establishing new risk categories that require ongoing monitoring and verification. This increasing focus on ESG compliance is reshaping the risk management landscape in the GCC, compelling companies to include non-financial risks in their enterprise risk plans.

Broadening Economic Diversification and Private Sector Development

GCC nations are proactively diversifying their economies from dependence on oil by investing in non-oil sectors like tourism, finance, logistics, health, and renewable energy. This economic development is propelling the development of the private sector, expanding the number of stakeholders who are exposed to different financial, operational, and reputational risks. With emerging industries, there is a developing requirement to recognize, assess, and manage sector-specific risks effectively. Firms are adopting integrated risk management systems to cope with market volatility, challenges in project execution, and supply chain disruptions. Such diversification is also drawing foreign direct investment (FDI), which needs strong governance and risk transparency to secure investor trust. Risk advisory services and insurance products are experiencing increased demand as both regional and international companies seek cover for uncertainties in emerging sectors. As such, economic diversification is making business life more complex and risk-aware, driving the adoption of sophisticated risk management techniques throughout the region.

GCC Risk Management Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC risk management market report, along with forecasts at the regional and country levels for 2025-2033. Our report has categorized the market based on component, deployment mode, enterprise size, and industry vertical.

Component Insights:

• Software
• Services

The report has provided a detailed breakup and analysis of the market based on the component. This includes software and services.

Deployment Mode Insights:

• On-premises
• Cloud-based

A detailed breakup and analysis of the market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based.

Enterprise Size Insights:

• Large Enterprises
• Small and Medium-sized Enterprises

A detailed breakup and analysis of the market based on the enterprise size has also been provided in the report. This includes large enterprises and small and medium-sized enterprises.

Industry Vertical Insights:

• BFSI
• IT and Telecom
• Retail
• Healthcare
• Energy and Utilities
• Manufacturing
• Government and Defense
• Others

A detailed breakup and analysis of the market based on the industry vertical has also been provided in the report. This includes BFSI, IT and telecom, retail, healthcare, energy and utilities, manufacturing, government and defense, and others.

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. 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.

GCC Risk Management Market News:

• August 2025: Saad Saleh Al Sabti and Partners Co. Chartered Accountants and Auditors, ECOVIS Saudi Arabia (ECOVIS Al Sabti), together with TransVare® Corporation, organized a significant event centered on “Digital Transformation in Internal Audit and Enterprise Risk Management Functions.” The gathering united more than a hundred leaders, decision-makers, and experts from various sectors, all eager to examine how digital innovation is reshaping the risk and audit environment.
• July 2025: 36Zero, a UK technology firm revolutionizing construction, mining, and oil & gas operations via AI and IoT solutions, has declared its expansion into Saudi Arabia, aided by AstroLabs, the Gulf's premier business growth platform. Established to fill significant voids in construction project management and worker safety, 36Zero provides a comprehensive method for improving risk management systems via a platform that offers immediate insights into project efficiency and labor management.
• May 2025: Manulife is thrilled to reveal the launch of its new office in the Dubai International Financial Centre (DIFC), representing a noteworthy growth of its Global High-Net-Worth (HNW) operations. This new office establishes Manulife as the premier international high-net-worth insurer in DIFC with a Category 4 license that allows it to advise and arrange life insurance contracts aimed at addressing the growing wealth and insurance requirements of the Middle East. Manulife’s presence in DIFC enables the company to leverage this expansion while strengthening its leadership in a market where the needs for advanced wealth accumulation, legacy planning, and risk management solutions are increasing swiftly.
• January 2025: JAGGAER has unveiled a strategic alliance with Saudi Arabia's Technology Force of Communication and Information Technology (TForce), aimed at enhancing digital procurement and supply chain solutions for organizations nationwide. The collaboration will utilize JAGGAER’s smart Source-to-Pay and supplier collaboration platform to aid Saudi Arabia’s digital transformation goals via JAGGAER’s AI-powered insights, facilitating real-time risk management, optimized expenditure, and effective decision-making, thus strengthening resilience throughout supply chains.

GCC Risk Management Market Report Coverage:

Key Questions Answered in This Report:

• How has the GCC risk management market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC risk management market?
• What is the breakup of the GCC risk management market on the basis of component?
• What is the breakup of the GCC risk management market on the basis of deployment mode?
• What is the breakup of the GCC risk management market on the basis of enterprise size?
• What is the breakup of the GCC risk management market on the basis of industry vertical?
• What are the various stages in the value chain of the GCC risk management market?
• What are the key driving factors and challenges in the GCC risk management market?
• What is the structure of the GCC risk management market and who are the key players?
• What is the degree of competition in the GCC risk management market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC risk management market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC risk management market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC risk management industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.