Summary
The global risk advisory service market was valued at $124.5 billion in 2024, and is projected to reach $426.5 billion by 2034, growing at a CAGR of 13% from 2025 to 2034.
A professional service that helps businesses identify, manage, and reduce risks that could harm their operations, reputation, or financial condition is referred to as risk advisory service. These risks can include cyberattacks, operational failures, financial fraud, legal issues, or regulatory problems. Risk advisors work with companies to assess potential threats, create plans to mitigate resilient these risks, and ensure compliance with rules and standards. They also help improve internal processes, security systems, and business strategies to make organizations more and better prepared for unexpected events. Risk advisory services are commonly used in industries like finance, healthcare, manufacturing, and IT. The goal is to protect the company from losses and support long-term growth by making smarter and safer business decisions.
Rise in number of cybersecurity threats and data breaches boosts the growth of the risk advisory service market. Businesses are facing increasing of cyberattacks, hacking, and data theft as they adopt digital platforms and rely heavily on online systems. These incidents can lead to huge financial losses, legal troubles, and damage to the reputation of the company. Thus, companies turn to risk advisory services to mitigate these risks. These services guide organizations in identifying weak points in their systems, strengthening their cybersecurity measures, and preparing plans to deal with cyber threats. With new types of cyberattacks emerging regularly, businesses are realizing the importance of staying ahead. Risk advisors also help companies follow data protection laws and avoid penalties. As more companies invest in cybersecurity, the demand for expert advice and support continues to grow, making cybersecurity one of the key drivers of the risk advisory services market.
Segment Review
The risk advisory service market is segmented on the basis of type, organization size, industry vertical, and region. By type, it is segmented into operational risk, financial risk, compliance and regulatory risk, technology and cyber risk and others. By organization size, it is classified into large enterprises, small and medium-sized enterprises. By industry vertical it is segmented into BFSI, IT and telecom, healthcare, retail and e-commerce, government and public sector, manufacturing, and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Takeaways:
By Type, the technology and cyber risk segment held the largest share in the risk advisory service market for 2024.
By Organization Size, the large enterprises segment held the largest share in the risk advisory service market for 2024.
By Industry Vertical, the BFSI segment held the largest share in the risk advisory service market for 2024.
Region-wise, North America held the largest risk advisory service market in 2024. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period.
Competition Analysis
The report compiled the profiles of key players operating in the risk advisory service market are Cherry Bekaert, Price Waterhouse Cooper (PwC), Weaver and Tidwell, LLP, FTI Consulting, Inc., KPMG International Limited, Grant Thornton International Ltd., Deloitte Touche Tohmatsu Limited, BDO International Limited, RSM International Ltd., CLA Global TS Holdings Pte Ltd, MBG Corporate Services, Aon plc, Protiviti Inc., The Risk Advisory Group Ltd, IBM Corporation, Chubb Group Holdings Inc., Alvarez & Marsal Holdings, LLC, Willis Towers Watson PLC, Forvis Mazars Group SC, Ernst & Young Global Limited.
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● Consumer Buying Behavior Analysis
● End user preferences and pain points
● Investment Opportunities
● Technology Trend Analysis
● Pain Point Analysis
● Regulatory Guidelines
● Strategic Recommendations
● Additional company profiles with specific to client's interest
● Historic market data
Key Market Segments
By Type
● Operational Risk
● Financial Risk
● Compliance and Regulatory Risk
● Technology and Cyber Risk
● Others
By Organization Size
● Large Enterprises
● Small and Medium-sized Enterprises
By Industry Vertical
● BFSI
● IT and Telecom
● Healthcare
● Retail and E-commerce
● Government and Public Sector
● Manufacturing
● Others
By Region
● North America
○ U.S.
○ Canada
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ Cherry Bekaert
○ Deloitte Touche Tohmatsu Limited
○ FTI Consulting, Inc.
○ Grant Thornton International Ltd.
○ BDO International Limited
○ Weaver and Tidwell, LLP
○ KPMG International Limited
○ Price Waterhouse Cooper (PwC)
○ RSM International Ltd.
○ MBG Corporate Services
○ Aon plc
○ IBM Corporation
○ Alvarez & Marsal Holdings, LLC
○ Ernst & Young Global Limited (EY)
○ Protiviti Inc.
○ Chubb Group Holdings Inc.
○ CLA Global TS Holdings Pte Ltd
○ The Risk Advisory Group Ltd
○ Forvis Mazars Group SC
○ Willis Towers Watson PLC
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Table of Contents
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Moderate to high bargaining power of suppliers
3.3.2. Moderate to high threat of new entrants
3.3.3. Moderate to high threat of substitutes
3.3.4. Moderate to high intensity of rivalry
3.3.5. Moderate to high bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Digital Transformation and Adoption of Advanced Technologies
3.4.1.2. Demand for Risk-Based Decision-Making and Strategic Planning
3.4.2. Restraints
3.4.2.1. High Cost of Implementing Risk Advisory Solutions
3.4.2.2. Data Privacy Concerns while Outsourcing Advisory Services
3.4.3. Opportunities
3.4.3.1. Integration of AI and Analytics into Risk Advisory Services
CHAPTER 4: RISK ADVISORY SERVICE MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Operational Risk
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Financial Risk
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Compliance and Regulatory Risk
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Technology and Cyber Risk
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Others
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
CHAPTER 5: RISK ADVISORY SERVICE MARKET, BY ORGANIZATION SIZE
5.1. Overview
5.1.1. Market size and forecast
5.2. Large Enterprises
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Small and Medium-sized Enterprises
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: RISK ADVISORY SERVICE MARKET, BY INDUSTRY VERTICAL
6.1. Overview
6.1.1. Market size and forecast
6.2. BFSI
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. IT and Telecom
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Healthcare
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Retail and E-commerce
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country
6.6. Government and Public Sector
6.6.1. Key market trends, growth factors and opportunities
6.6.2. Market size and forecast, by region
6.6.3. Market share analysis by country
6.7. Manufacturing
6.7.1. Key market trends, growth factors and opportunities
6.7.2. Market size and forecast, by region
6.7.3. Market share analysis by country
6.8. Others
6.8.1. Key market trends, growth factors and opportunities
6.8.2. Market size and forecast, by region
6.8.3. Market share analysis by country
CHAPTER 7: RISK ADVISORY SERVICE MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast By Region
7.2. North America
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by Type
7.2.3. Market size and forecast, by Organization Size
7.2.4. Market size and forecast, by Industry Vertical
7.2.5. Market size and forecast, by country
7.2.5.1. U.S.
7.2.5.1.1. Market size and forecast, by Type
7.2.5.1.2. Market size and forecast, by Organization Size
7.2.5.1.3. Market size and forecast, by Industry Vertical
7.2.5.2. Canada
7.2.5.2.1. Market size and forecast, by Type
7.2.5.2.2. Market size and forecast, by Organization Size
7.2.5.2.3. Market size and forecast, by Industry Vertical
7.3. Europe
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by Type
7.3.3. Market size and forecast, by Organization Size
7.3.4. Market size and forecast, by Industry Vertical
7.3.5. Market size and forecast, by country
7.3.5.1. UK
7.3.5.1.1. Market size and forecast, by Type
7.3.5.1.2. Market size and forecast, by Organization Size
7.3.5.1.3. Market size and forecast, by Industry Vertical
7.3.5.2. Germany
7.3.5.2.1. Market size and forecast, by Type
7.3.5.2.2. Market size and forecast, by Organization Size
7.3.5.2.3. Market size and forecast, by Industry Vertical
7.3.5.3. France
7.3.5.3.1. Market size and forecast, by Type
7.3.5.3.2. Market size and forecast, by Organization Size
7.3.5.3.3. Market size and forecast, by Industry Vertical
7.3.5.4. Italy
7.3.5.4.1. Market size and forecast, by Type
7.3.5.4.2. Market size and forecast, by Organization Size
7.3.5.4.3. Market size and forecast, by Industry Vertical
7.3.5.5. Spain
7.3.5.5.1. Market size and forecast, by Type
7.3.5.5.2. Market size and forecast, by Organization Size
7.3.5.5.3. Market size and forecast, by Industry Vertical
7.3.5.6. Rest of Europe
7.3.5.6.1. Market size and forecast, by Type
7.3.5.6.2. Market size and forecast, by Organization Size
7.3.5.6.3. Market size and forecast, by Industry Vertical
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by Type
7.4.3. Market size and forecast, by Organization Size
7.4.4. Market size and forecast, by Industry Vertical
7.4.5. Market size and forecast, by country
7.4.5.1. China
7.4.5.1.1. Market size and forecast, by Type
7.4.5.1.2. Market size and forecast, by Organization Size
7.4.5.1.3. Market size and forecast, by Industry Vertical
7.4.5.2. Japan
7.4.5.2.1. Market size and forecast, by Type
7.4.5.2.2. Market size and forecast, by Organization Size
7.4.5.2.3. Market size and forecast, by Industry Vertical
7.4.5.3. India
7.4.5.3.1. Market size and forecast, by Type
7.4.5.3.2. Market size and forecast, by Organization Size
7.4.5.3.3. Market size and forecast, by Industry Vertical
7.4.5.4. Australia
7.4.5.4.1. Market size and forecast, by Type
7.4.5.4.2. Market size and forecast, by Organization Size
7.4.5.4.3. Market size and forecast, by Industry Vertical
7.4.5.5. South Korea
7.4.5.5.1. Market size and forecast, by Type
7.4.5.5.2. Market size and forecast, by Organization Size
7.4.5.5.3. Market size and forecast, by Industry Vertical
7.4.5.6. Rest of Asia-Pacific
7.4.5.6.1. Market size and forecast, by Type
7.4.5.6.2. Market size and forecast, by Organization Size
7.4.5.6.3. Market size and forecast, by Industry Vertical
7.5. LAMEA
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by Type
7.5.3. Market size and forecast, by Organization Size
7.5.4. Market size and forecast, by Industry Vertical
7.5.5. Market size and forecast, by country
7.5.5.1. Latin America
7.5.5.1.1. Market size and forecast, by Type
7.5.5.1.2. Market size and forecast, by Organization Size
7.5.5.1.3. Market size and forecast, by Industry Vertical
7.5.5.2. Middle East
7.5.5.2.1. Market size and forecast, by Type
7.5.5.2.2. Market size and forecast, by Organization Size
7.5.5.2.3. Market size and forecast, by Industry Vertical
7.5.5.3. Africa
7.5.5.3.1. Market size and forecast, by Type
7.5.5.3.2. Market size and forecast, by Organization Size
7.5.5.3.3. Market size and forecast, by Industry Vertical
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2024
CHAPTER 9: COMPANY PROFILES
9.1. Cherry Bekaert
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Operating business segments
9.1.5. Product portfolio
9.1.6. Key strategic moves and developments
9.2. Price Waterhouse Cooper (PwC)
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Operating business segments
9.2.5. Product portfolio
9.2.6. Key strategic moves and developments
9.3. Weaver and Tidwell, LLP
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Operating business segments
9.3.5. Product portfolio
9.3.6. Key strategic moves and developments
9.4. FTI Consulting, Inc.
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Operating business segments
9.4.5. Product portfolio
9.4.6. Business performance
9.4.7. Key strategic moves and developments
9.5. KPMG International Limited
9.5.1. Company overview
9.5.2. Key executives
9.5.3. Company snapshot
9.5.4. Operating business segments
9.5.5. Product portfolio
9.5.6. Business performance
9.5.7. Key strategic moves and developments
9.6. Grant Thornton International Ltd.
9.6.1. Company overview
9.6.2. Key executives
9.6.3. Company snapshot
9.6.4. Operating business segments
9.6.5. Product portfolio
9.6.6. Key strategic moves and developments
9.7. Deloitte Touche Tohmatsu Limited
9.7.1. Company overview
9.7.2. Key executives
9.7.3. Company snapshot
9.7.4. Operating business segments
9.7.5. Product portfolio
9.7.6. Key strategic moves and developments
9.8. BDO International Limited
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Operating business segments
9.8.5. Product portfolio
9.8.6. Key strategic moves and developments
9.9. RSM International Ltd.
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Operating business segments
9.9.5. Product portfolio
9.9.6. Key strategic moves and developments
9.10. CLA Global TS Holdings Pte Ltd
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.11. MBG Corporate Services
9.11.1. Company overview
9.11.2. Key executives
9.11.3. Company snapshot
9.11.4. Operating business segments
9.11.5. Product portfolio
9.12. Aon plc
9.12.1. Company overview
9.12.2. Key executives
9.12.3. Company snapshot
9.12.4. Operating business segments
9.12.5. Product portfolio
9.12.6. Business performance
9.12.7. Key strategic moves and developments
9.13. Protiviti Inc.
9.13.1. Company overview
9.13.2. Key executives
9.13.3. Company snapshot
9.13.4. Operating business segments
9.13.5. Product portfolio
9.13.6. Business performance
9.13.7. Key strategic moves and developments
9.14. The Risk Advisory Group Ltd
9.14.1. Company overview
9.14.2. Key executives
9.14.3. Company snapshot
9.14.4. Operating business segments
9.14.5. Product portfolio
9.15. IBM Corporation
9.15.1. Company overview
9.15.2. Key executives
9.15.3. Company snapshot
9.15.4. Operating business segments
9.15.5. Product portfolio
9.15.6. Business performance
9.15.7. Key strategic moves and developments
9.16. Chubb Group Holdings Inc.
9.16.1. Company overview
9.16.2. Key executives
9.16.3. Company snapshot
9.16.4. Operating business segments
9.16.5. Product portfolio
9.16.6. Business performance
9.16.7. Key strategic moves and developments
9.17. Alvarez & Marsal Holdings, LLC
9.17.1. Company overview
9.17.2. Key executives
9.17.3. Company snapshot
9.17.4. Operating business segments
9.17.5. Product portfolio
9.17.6. Key strategic moves and developments
9.18. Willis Towers Watson PLC
9.18.1. Company overview
9.18.2. Key executives
9.18.3. Company snapshot
9.18.4. Operating business segments
9.18.5. Product portfolio
9.18.6. Business performance
9.18.7. Key strategic moves and developments
9.19. Forvis Mazars Group SC
9.19.1. Company overview
9.19.2. Key executives
9.19.3. Company snapshot
9.19.4. Operating business segments
9.19.5. Product portfolio
9.19.6. Key strategic moves and developments
9.20. Ernst & Young Global Limited (EY)
9.20.1. Company overview
9.20.2. Key executives
9.20.3. Company snapshot
9.20.4. Operating business segments
9.20.5. Product portfolio
9.20.6. Key strategic moves and developments
