As per MRFR analysis, the GCC Enterprise Risk Management Market Size was estimated at 128.44 (USD Million) in 2023.The GCC Enterprise Risk Management Market is expected to grow from 135.12(USD Million) in 2024 to 324.12 (USD Million) by 2035. The GCC Enterprise Risk Management Market CAGR (growth rate) is expected to be around 8.279% during the forecast period (2025 - 2035).
Key GCC Enterprise Risk Management Market Trends Highlighted
The economic and regulatory climate of the GCC are driving a number of noteworthy changes in the enterprise risk management market. The growing focus on regulatory compliance, especially in industries like banking and oil & gas, is one major market driver. GCC governments, such as those in Saudi Arabia and the United Arab Emirates, are enforcing stringent laws that call for strong risk management systems.
Organizations are being forced by regulations to implement thorough Enterprise Risk Management (ERM) systems in order to successfully reduce any hazards. Additionally, the GCC's numerous industries are undergoing digital transformation, which is opening up possibilities for a more robust integration of technology into risk management procedures.
Businesses are using cutting-edge technology, such big data analytics and artificial intelligence, to improve their capacity to recognize and evaluate threats instantly. In line with international best practices, this movement is making risk management more responsive and dynamic.
The significance of cybersecurity in the context of enterprise risk management has also gained attention in recent years. Organizations in the GCC must include cyber risk into their entire risk management strategies as they embrace digitalization and confront growing dangers from cyberattacks.
Businesses are being forced to improve their cybersecurity measures as a vital part of their ERM systems due to the increasing frequency of cyberattacks. Additionally, companies are realizing that their organizational structures require a culture change toward proactive risk management.
This change offers chances to create seminars and training courses to help staff members become more risk-aware. Organizations may strengthen their resistance to possible disruptions by cultivating an atmosphere that places a high priority on risk mitigation.
All things considered, the GCC Enterprise Risk Management Market is developing quickly due to rising emphasis on cybersecurity, technological developments, and regulatory requirements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
One of the primary drivers of growth in the GCC Enterprise Risk Management Market is the increasing regulatory compliance requirements imposed by governments and international bodies.
For instance, the Central Bank of the UAE has implemented stricter regulations and guidelines to enhance transparency and accountability in financial services, necessitating organizations to adopt robust Enterprise Risk Management frameworks. This regulatory landscape has prompted firms across various sectors to invest in comprehensive Enterprise Risk Management solutions to avoid potential penalties.
In 2023, the UAE's financial regulatory authorities reported a 15% increase in compliance costs for businesses, underscoring the necessity for organizations to adopt enterprise risk management systems that can facilitate compliance and mitigate risks effectively.
As a result, firms like Emirates NBD, which have already started integrating advanced risk management solutions, will contribute significantly to the growth of the GCC Enterprise Risk Management Market.
The surge in cybersecurity threats across the GCC region is another major driver propelling the growth of the GCC Enterprise Risk Management Market. According to the Bahrain Telecommunications Regulatory Authority, the country experienced over a 25% increase in reported cyber incidents in 2022.
This alarming trend has spurred organizations in the GCC to prioritize their cybersecurity measures, which are closely linked to enterprise risk management.
Companies like Saudi Aramco have acknowledged the need to strengthen their cybersecurity posture and have implemented extensive enterprise risk management programs to protect sensitive data from breaches. The emphasis on cybersecurity risk management is not only vital for protecting assets but also critical for maintaining stakeholder trust in the long run.
Economic diversification is a crucial focus for many GCC countries, such as Saudi Arabia and the UAE, as they aim to reduce reliance on oil revenues and promote sustainable growth. The Saudi Vision 2030 and UAE Vision 2021 emphasize diversifying the economy, which inherently increases exposure to various risks across different sectors.
Consequently, companies are incentivized to adopt Enterprise Risk Management strategies tailored to these diversifying economic landscapes.
Reports from the Saudi Arabian General Investment Authority indicate a significant uptick in foreign investments in non-oil sectors, and firms in these sectors must be equipped to manage the associated risks. This growing emphasis on diversification will continue to drive demand for effective enterprise risk management solutions in the GCC region.
The ongoing technological advancements and digital transformation initiatives across the GCC region are significant drivers for the growth of the GCC Enterprise Risk Management Market. Organizations are increasingly adopting digital technologies such as artificial intelligence and machine learning to enhance their risk assessment and management capabilities.
The Ministry of Communications and Information Technology of Saudi Arabia has reported that the adoption of digital solutions in enterprise risk management can lead to a 30% increase in efficiency in risk mitigation processes.
This technological shift enables organizations to proactively identify and address potential risks, thereby contributing to a more resilient operational framework. Leading firms in the GCC, such as Ooredoo and Qatar National Bank, are investing heavily in innovative technologies to bolster their enterprise risk management frameworks, further intensifying market growth.
The GCC Enterprise Risk Management Market encompasses several critical types of risks that organizations face in their operations. These encompass Hazard Risk, Financial Risk, Operational Risk, and Strategic Risks, each playing a vital role in shaping the risk management landscape in the region.
Hazard Risk primarily deals with the potential for injuries, environmental damage, or property loss due to unforeseen incidents, making it essential for industries such as construction, oil and gas, and manufacturing to implement effective management strategies.
With the GCC region's focus on infrastructural development and sustainability initiatives, addressing Hazard Risk has become increasingly paramount. Financial Risk addresses the challenges associated with funding, investment, and exchange rate fluctuations, which are particularly relevant in the economically diversified GCC markets.
Companies need to adopt robust financial risk frameworks to navigate volatile economic conditions and maintain capital stability. The importance of understanding financial risk cannot be overstated, especially in an era where global market dynamics continuously change.
Operational Risk encompasses risks arising from internal processes, people, and systems, as well as external events that can disrupt operations. With businesses becoming more reliant on technology and interconnected systems, the complexities of managing operational risk are significant.
Organizations in the GCC must ensure that they establish comprehensive strategies to mitigate potential disruptions to maintain business continuity. Strategic Risks relate to adverse events that could jeopardize an organization's ability to achieve its objectives, such as shifts in market trends, regulatory changes, or competitive actions.
As the GCC countries continue to diversify their economies and enhance their global competitiveness, understanding and managing strategic risks will be critical for organizations striving to thrive in this dynamic landscape.
The segmentation of the GCC Enterprise Risk Management Market into these types assists organizations in focusing on specific areas that require attention, enabling them to deploy resources effectively. Insights into these risk types suggest that companies must adopt a proactive approach to risk management by integrating these categories into their overall business strategies.
As organizations strive to enhance resilience and adaptability, a holistic understanding of these risk types will prove indispensable in navigating the complexities of the GCC market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Application segment of the GCC Enterprise Risk Management Market focuses primarily on financial institutions such as Banks, Credit Unions, and Thrifts, which play a crucial role in the region's economy. In the GCC, banks are essential as they help manage financial risks, adapt to regulatory changes, and implement advanced risk management practices to ensure compliance and prevent financial crises.
Credit Unions, while smaller, provide community-focused services and are increasingly recognizing the need for robust risk management solutions to protect members' assets. Thrifts, on the other hand, are vital in offering savings and lending options, necessitating effective risk management strategies to maintain stability and growth in their operations.
The governance and stability provided by thorough risk management prevent potential financial losses, enhance customer trust, and support overall economic development in the GCC.
In managing these risks, these financial entities contribute significantly to the financial health and resilience of the region, thereby underscoring the importance of the Application segment in the broader GCC Enterprise Risk Management Market landscape.
The GCC Enterprise Risk Management Market is witnessing significant growth driven by the increasing complexity of risks faced by organizations in the region. Growing awareness of the importance of identifying, assessing, and mitigating risks has led to a burgeoning demand for effective enterprise risk management solutions.
This market is characterized by various key players offering a range of services and technologies tailored to meet the unique needs of businesses operating in the Gulf Cooperation Council region.
Competitive insights into this market reveal that organizations are increasingly opting for integrated approaches to risk management that not only comply with regulatory requirements but also enhance strategic decision-making and align with organizational goals.
As companies seek to navigate through uncertainties, understanding the competitive landscape becomes crucial for identifying opportunities and innovation trends that can shape the future of risk management in the GCC.
Among the players in the GCC Enterprise Risk Management Market, Resolver has established a strong presence by focusing on risk management solutions that promote efficiency and visibility for organizations. The company leverages advanced technology to provide integrated platforms that facilitate risk identification, assessment, and reporting.
Resolver's strengths lie in its user-friendly interface and customizable features, which cater to diverse risk management needs across various industries within the GCC. Their commitment to continuous innovation and customer support positions Resolver as a competitive force, empowering businesses to enhance their risk management processes while fostering a culture of accountability and transparency.
Protiviti, another prominent name in the GCC Enterprise Risk Management Market, offers a comprehensive suite of services that encompass risk consulting, internal audit, and business process improvement. The company is recognized for its expertise in helping organizations navigate the complexities of regulatory compliance and operational risk.
Protiviti's strengths include a deep understanding of the local market dynamics, which allows it to provide tailored solutions that specifically address the challenges faced by GCC businesses. Their service offerings are bolstered by a robust network of professionals with experience in various industries, enabling Protiviti to deliver insights and strategies that drive resilience and growth.
Merger and acquisition activities within the company have also contributed significantly to strengthening its presence in the region, making Protiviti a key player in shaping enterprise risk management practices in the GCC. Overall, Protiviti's focus on collaboration and innovation continues to enhance its reputation as a trusted partner for organizations aiming to optimize their risk management frameworks.
In order to support generative-AI-powered digital skilling throughout the Kingdom and line with Vision 2030 goals through tailored training on cloud, data, and AI, Accenture teamed up with Aramco Digital in September 2024 to implement its AI-native LearnVantage platform in Saudi Arabia.
In July 2024, the company also invested US$170 million in global-GCC specialist ANSR, enhancing its ability to serve corporate risk frameworks based in the GCC through improved digital talent skills.
In March 2025, PwC expanded its footprint in the area by establishing a local ERM-as-a-Service offering designed for GCC banks and sovereign wealth funds and delivering advice on risk governance improvements to a significant Gulf financial regulator.
In August 2024, Deloitte opened a cyber-risk and resilience center in Dubai with the goal of assisting GCC institutions in adhering to NESA and COSO ERM frameworks by standardizing cross-border risk procedures and catastrophe modeling for the energy and infrastructure sectors.
Last but not least, in May 2025, KPMG GCC launched an energy-sector ERM program that combined scenario-driven stress testing and AI-enhanced analytics to assist local oil and gas companies in forecasting supply-chain disruptions, geopolitical concerns, and changes in commodity prices.
In order to promote robust, digitally enabled risk strategies, these advancements highlight a shift in GCC business risk management by fusing global frameworks with artificial intelligence (AI), cloud-based services, and local knowledge.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 128.44(USD Million) |
| MARKET SIZE 2024 | 135.12(USD Million) |
| MARKET SIZE 2035 | 324.12(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 8.279% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Resolver, Protiviti, Accenture, Riskwatch International, PwC, Bain & Company, KPMG, EY, Risk Lens, MetricStream, Deloitte, SAS Institute, Oracle, IBM, McKinsey & Company |
| SEGMENTS COVERED | Type, Application |
| KEY MARKET OPPORTUNITIES | Regulatory compliance advancements, Increased cybersecurity threats, Growing demand for cloud solutions, Expansion of financial services, Rising awareness of risk management. |
| KEY MARKET DYNAMICS | Regulatory compliance requirements, Increasing cyber threats, Demand for operational resilience, Growth in digital transformation, Enhanced focus on enterprise sustainability |
| COUNTRIES COVERED | GCC |
Frequently Asked Questions (FAQ) :
The GCC Enterprise Risk Management Market is expected to be valued at 135.12 million USD in 2024.
By 2035, the GCC Enterprise Risk Management Market is projected to reach a value of 324.12 million USD.
The expected compound annual growth rate (CAGR) for the GCC Enterprise Risk Management Market is 8.279% from 2025 to 2035.
Among various types, Hazard Risk is predicted to grow significantly to 70.0 million USD by 2035.
The Financial Risk segment is forecasted to reach a value of 60.0 million USD by 2035.
Key players in the market include Resolver, Protiviti, Accenture, PwC, KPMG, EY, and Deloitte.
In 2024, the Operational Risk segment is valued at 35.12 million USD.
Challenges in the market include adapting to rapid technological changes and mitigating diverse risk types.
Increasing regulatory requirements and the need for risk mitigation strategies are major growth drivers.
Strategic Risks are projected to rise to 114.0 million USD by the year 2035.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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