According to our latest market study on “Treasury and Risk Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Enterprise Size, Application, and End-User,” the treasury and risk management market size is projected to reach US$ 7,156.90 million by 2028 from US$ 4,739.39 million in 2021; it is expected to grow at a CAGR of 6.1% from 2021 to 2028.
With the digital transformation and the use of cloud-based platforms, the treasury and risk management market is rising due to its simple deployment and reduced deployment time and cost. Moreover, the internet infrastructure has gained traction in developed countries, and it is booming in many developing countries such as India, China, and Brazil, enabling end users to access the cloud-based platform. A few benefits of the cloud-based treasury and risk management are secure hosting of critical data, improved security and scalability, and quick recovery of files. The backups are stored on a private or shared cloud host platform. Thus, organizations can quickly recover critical data. Further, the data can be easily accessed via secure logins with a stable internet connection. Cloud-based treasury and risk management platforms also reduce repair & maintenance costs and enhance customer satisfaction. Therefore, due to the multiple benefits of cloud-based treasury and risk management platforms, there is an increase in their adoption by large enterprises and small & medium enterprises (SMEs) for better fund/asset management, which fuels the treasury and risk management market growth. Furthermore, companies such as Broadridge Financial Solutions, Inc.; FIS; Oracle Corporation; and SAP SE are adopting cloud-based treasury and risk management platforms. Therefore, the growing use of cloud-based treasury and risk management platforms is driving the market.
Key Players Influencing the Market
- Broadridge Financial Solutions, Inc.
- FIS
- Oracle Corporation
- Pricewaterhousecoopers International Limited (PWC)
- SAP SE
- Fiserv, Inc.
- Calypso Technology, Inc (Adenza)
- Kyriba Corp
- Mors Software
- Wolters Kluwer
According to the Monetary Authority of Singapore report published in January 2021, many multinational corporations (MNCs) are increasing fund flows and setting up their corporate treasury centers in Singapore to facilitate capital raising, cash management, and risk hedging. The growth in the banking sector in APAC is helping in the adoption of treasury and risk management solutions because banks are adopting these solutions to maximize their profits securely to control the risk of exposure. Due to the recent financial crisis, managing liquidity and risk in the best possible way is important for banks. Banks must have good treasury and risk management solutions to optimize their investment and funding operations.
The treasury functions are clear beneficiaries of financial analytics, which provides better insights into customers, competitors, profitability, and processes. Financial analytics can also strengthen the chief financial officer’s (CFO) ability to drive strategic decision-making and investment planning. Thus, creating an analytics-driven organization has also become the top driver of collaboration between the CFO and chief information officer (CIO). Thus, the demand for financial analytics services is growing significantly, driving the treasury and risk management market.
Impact of COVID-19 Pandemic on Asia Pacific Treasury and Risk Management Market
The rising spending on the IT sector supported the growth of the treasury and risk management market in APAC. For instance, China’s domestic ICT spending grew by 8%, Malaysia’s ICT spending increased by 7.5%, and New Zealand’s ICT spending increased by 9.6% in 2019, according to the article published by the CIO TECH ASIA.
In 2020, the COVID-19 pandemic positively impacted the APAC treasury and risk management market due to increased ICT spending. For instance, according to the article published by the Kizhakedath Media Services, in 2020, APAC spent a total of US$ 1,200 billion on the ICT sector, including software, services, telecom services, hardware, and new technologies. Further, from 2021 to 2022, spending on the ICT sector continues to rise. For instance, as per the article published by the Kizhakedath Media Services, APAC spent a total of ~US$ 1,300 billion on the ICT sector in 2021. Therefore, the APAC treasury and risk management market continues to grow in 2021 and 2022.
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