HTF MI just released the Global Risk Management Consulting Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025–2031. The marketization process is being accelerated by the market study’s segmentation by important regions. The market is currently expanding its reach. Major companies in Risk Management Consulting Market are: Accenture (Ireland), Aon plc (United Kingdom), Boston Consulting Group (United States), Deloitte (United States), Ernst & Young (EY) (United Kingdom), KPMG (Netherlands), Marsh & McLennan Companies, Inc. (United States), McKinsey & Company (United States), Mercer (United States), Milliman (United States)

According to HTF Market Intelligence, the global Risk Management Consulting Market size was valued at USD 35 Billion in 2024 and estimated to reach revenue of USD 60 Billion by 2031, with a CAGR of 8% from 2025 to 2031.

The Risk Management Consulting Market is Segmented by Application (Automotive, BFSI, Payments & Transaction Banking, Manufacturing, Retail, Others) by Type (Enterprise Risk Management (ERM), Operational Risk Management (ORM), Credit Risk Management (CRM), Others) by Organization (Large Enterprise, Small & Medium Enterprises (SME)) and by Geography (North America, South America, Europe, Asia Pacific, MEA)

Definition: This market comprises advisory firms helping organizations identify, assess, prioritize, and mitigate risks across strategic, financial, operational, compliance, cyber, and third‑party domains. Services include maturity assessments, framework design (e.g., ISO/COBIT/NIST‑aligned), controls implementation, training, crisis simulation, and ongoing monitoring via managed services. Providers increasingly combine domain expertise with data science and software, integrating GRC/IRM tools, cyber telemetry, vendor‑risk platforms, and climate models. Buyers include regulated industries—banks, insurers, healthcare—as well as manufacturers and the public sector. Engagements target board assurance, regulatory compliance, resilience, and performance improvement through risk‑informed decision‑making.

Market Trends: Shift from qualitative heat maps to quant‑driven models, scenario analysis, and continuous monitoring. Integration of ESG, cyber, and third‑party risk into enterprise‑wide frameworks. Rise of managed detection/response, red‑teaming, and resilience testing. Consultants bundle advisory with platforms (GRC, IRM, TPRM) and data subscriptions. Sector‑specific playbooks emerge for critical infrastructure and financial services.

Market Drivers: Heightened regulatory scrutiny, cyber threats, supply‑chain shocks, climate exposures, and board‑level accountability push enterprises to formalize risk frameworks. M&A activity and digital transformation increase need for controls harmonization. Insurance partners and audit committees demand better quantification and reporting, driving advisory engagements, managed services, and GRC tool implementations.

Market Opportunities: Productize repeatable risk services, bundle with dashboards, and offer outcome‑linked pricing. Expand mid‑market via modular packages. Build climate and operational resilience offerings for energy, utilities, and logistics. Create alliances with insurers and software vendors to integrate risk transfer, controls, and monitoring. Scale near‑shore delivery centers to address talent gaps and margin pressure.

Market Challenges: Talent scarcity in cyber/quant risk, fragmented tool ecosystems, and client fatigue from overlapping frameworks slow adoption. Demonstrating ROI for remediation programs can be difficult. Data privacy rules complicate cross‑border analytics. Smaller clients resist enterprise‑grade pricing, while large clients push for outcome‑based fees. Regulatory changes create uncertainty for long multi‑year programs.

Dominating Region: North America

Fastest‑Growing Region: Middle East & Africa

Market Leaders & Development Strategies: In March 2023, Accenture has acquired Optimind, a French management consulting company for financial services industry. This acquisition will help the company to gain strong foothold in risk management consulting market.

The titled segments and sub‑section of the market are illuminated below: In‑depth analysis of Risk Management Consulting market segments by Types: Enterprise Risk Management (ERM), Operational Risk Management (ORM), Credit Risk Management (CRM), Others. Detailed analysis of Risk Management Consulting market segments by Applications: Automotive, BFSI, Payments & Transaction Banking, Manufacturing, Retail, Others.

Global Risk Management Consulting Market – Regional Analysis: North America: United States of America (US), Canada, and Mexico. South & Central America: Argentina, Chile, Colombia, and Brazil. Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt, and South Africa. Europe: the UK, France, Italy, Germany, Spain, Nordics, BALTIC Countries, Russia, Austria, and the Rest of Europe. Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam, etc) & Rest. Oceania: Australia & New Zealand.

Risk Management Consulting Market Research Objectives: Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years. – To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry‑specific challenges and risks). – To analyze the with respect to individual future prospects, growth trends and their involvement to the total market. – To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market. – To deliberately profile the key players and systematically examine their growth strategies. Five Forces & PESTLE Analysis: In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry. • Political (Political policy and stability as well as trade, fiscal, and taxation policies) • Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates) • Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles) • Technological (Changes in digital or mobile technology, automation, research, and development) • Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions) • Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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Risk Management Consulting Market Hits New High | Major Giants- Aon, Deloitte, Milliman

HTF Market Intelligence released a 143‑page Global Risk Management Consulting Market Study, projecting the market to grow from USD 35 B in 2024 to USD 60 B by 2031 (CAGR 8%). The report highlights major consulting firms—Accenture, Aon plc, Boston Consulting Group, Deloitte, EY, KPMG, Marsh & McLennan, McKinsey, Mercer, and Milliman—as leaders. It outlines market segmentation, drivers such as regulatory scrutiny and cyber threats, opportunities like productizing risk services, and challenges including talent scarcity and fragmented tool ecosystems. North America dominates, while the Middle East & Africa is the fastest‑growing region.