Yahoo Finance Treasury and Risk Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, Enterprise Size, Application, and End User
The global treasury and risk management market is expected to grow from US$ 4739. 39 million in 2021 to US$ 7156. 90 million by 2028; it is estimated to grow at a CAGR of 6. 1% during 2021–2028.
New York, May 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Treasury and Risk Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, Enterprise Size, Application, and End User" - https://www.reportlinker.com/p06279473/?utm_source=GNW
The treasury and risk management market in North America and Europe is growing due to the development of the technology & automotive sectors.With the growing technology sector in North America, there is an increase in the adoption of treasury and risk management solutions/services.
As the growth in the technology sector continues, smart companies realize that treasury plays an important role by providing input into strategy and advice to ensure the development is sustainable and financially efficient.Furthermore, the rapid expansion of technological firms requires efficient cash management and payment and collection methods.
The automotive sector in Europe is also growing.Thus, with the continuous growth in the automotive sector, the demand for treasury and risk management is increasing because of several benefits, including the cash management tool, which helps manage the organization’s bank accounts; the automotive treasury function delivers efficiency, control, and scalability; and the comprehensive finance & treasury transformation program in the automotive sector.
Therefore, with the growth of technology and automotive sectors in these regions, the demand for treasury and risk management solutions/services is increasing.
The APAC treasury and risk management market is growing due to the rising banking sector.Several banks are experiencing growth in their market capitalization, including China Merchants Bank Co.
Ltd., China Construction Bank Corp., Bank of China Ltd., and Agricultural Bank of China Ltd. Further, the number of banks is increasing considerably. Thus, increase in the number of banks and rise in the market capitalization of banks are creating a huge opportunity for treasury and risk management market players.
The treasury and risk management market in the MEA and SAM is growing due to the development of the manufacturing sector in these regions.Factors such as fourth industrial revolution (4IR) growth and government initiatives (Saudi Arabia’s Vision 2030, Bahrain’s Economic Vision 2030, Abu Dhabi’s Economic Vision 2030, and Dubai’s Industrial Strategy 2030 in the UAE) are supporting manufacturing growth across the MEA and SAM.
Due to the growth in the manufacturing sector in these two regions, the demand for treasury and risk management solutions/services is forecasted to grow because these solutions/services effectively handle cash management in the manufacturing sector, including payments, account analysis, and statements, and outsourced treasury management solutions that include managed bank connectivity.
Impact of COVID-19 Pandemic on Global Treasury and Risk Management Market
Prior to the COVID-19 pandemic, the demand for treasury and risk management solutions/services was prevalent due to the growing digitalization. For instance, in April 2019, according to the article published by Business Wire, the spending on digital transformation was US$ 1.18 trillion in 2019, an increase of 17.9% over 2018.
As per treasury and risk management market analysis, in 2020, the COVID-19 pandemic remarkably influenced the operations of enterprises and changed some fundamental aspects of businesses.The spread of COVID-19 in 2020 led to global lockdowns in several countries to avert the crisis and minimize the risk of infection.
This created a major boom in the adoption of digital technologies to keep enterprises functional during the COVID-19 outbreak.Most enterprises shifted to cloud infrastructure and continued their operations while maintaining lockdown restrictions.
Moreover, the COVID-19 pandemic pushed businesses to think of the future of corporate treasury in line with digitization, integrated risk management, and a renewed focus on cost optimization and cash management.Thus, the adoption of treasury and risk management solutions/services witnessed a rise in 2020.
Therefore, the overall COVID-19 pandemic impact on the treasury and risk management market was positive in 2020.
As per treasury and risk management market analysis in 2021 and 2022, the relaxation of lockdown measures, adoption of cloud technologies by several businesses, and organizations moving toward automation with technologies such as artificial intelligence (AI) and machine learning for cash management have positively impacted the treasury and risk management market growth.For instance, in May 2021, Refinitiv and IBSFINtech announced a collaboration to launch a new cloud-based automated treasury management solution.
The solution named InTReaX would be a management solution for cash & liquidity and currency risk. Thus, the adoption of cloud-based treasury management solutions by several businesses will create multiple opportunities for the market players.
The treasury and risk management market size before the COVID-19 pandemic was US$ 4,337.46 million in 2019. The treasury and risk management market size during the pandemic was US$ 4,526.57 million in 2020. Furthermore, in 2021, the treasury and risk management market size was US$ 4,739.39 million. Therefore, the overall impact of the COVID-19 pandemic on the treasury and risk management market share was positive in 2020.
Based on component, the market is bifurcated into solution and services.The solution segment led the market with a larger share in 2020.
In terms of deployment, the treasury and risk management market is bifurcated into cloud-based and on-premises.The cloud-based segment led the market with a larger market share in 2020.
Based on enterprise size, the treasury and risk management market is bifurcated into small & medium-size enterprises and large enterprises.The large enterprises segment accounted for a larger market share in 2020.
In terms of application, the market is segmented into account management, cash & liquidity management, compliance & risk management, and financial resource management. The cash & liquidity management segment accounted for the largest share in 2020. Based on end user, the market is segmented into BFSI, IT & telecom, retail & ecommerce, healthcare, manufacturing & automotive, and others. The BFSI segment led the treasury and risk management market with the largest share in 2020. Geographically, the treasury and risk management market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The North America segment led the treasury and risk management market in 2020.
The overall treasury and risk management market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the treasury and risk management market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the treasury and risk management market.
The key companies operating in the treasury and risk management market include Broadridge Financial Solutions, Inc.; FIS; Oracle Corporation; Pricewaterhousecoopers International Limited (PWC); SAP SE; Fiserv, Inc.; Calypso Technology, Inc (Adenza); Kyriba Corp; Mors Software; and Wolters Kluwer.
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