Verdantix Forecasts The Operational Risk Software Market Will Reach $14.6 Billion
Summary
LONDON--( BUSINESS WIRE )--Independent research firm Verdantix has published a ground-breaking forecast for operational risk management software.“Operational excellence programmes and industry 4.0 strategies will drive a big increase in demand for operational risk management software” commented David Metcalfe, Verdantix CEO.“That’s why we are already seeing a surge of interest in software which dramatically improves the potential to control risks at complex industrial assets.In 2018, oil and gas will account for $548m which is 48% of spend; North America and Europe represent 77% of the market; and 41% of investment will be allocated to Asset Performance Management vendors such as ABB, AspenTech, Aveva and SAP.Digitization of industrial assets, processes and equipment will drive long-term growth in spending on operational risk management software.