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.

The rise of the treasury and risk management market can be attributed to the utilization of cloud-based platforms and digital transformation. The deployment of these platforms is easy and cost-effective, resulting in reduced deployment time. With the increasing popularity of the internet infrastructure in developed and developing countries like China, India, and Brazil, end-users can access cloud-based platforms easily. Cloud-based treasury and risk management platforms offer numerous benefits, including secure hosting of vital data, quick file recovery, improved scalability and security, and reduced repair and maintenance costs, leading to improved customer satisfaction. This has resulted in an increase in their adoption by both large and small-medium enterprises for better asset management and fund management, driving the growth of the treasury and risk management market. Major players in this market, including Broadridge Financial Solutions, Inc., FIS, SAP SE, and Oracle Corporation, are also adopting cloud-based treasury and risk management platforms. Therefore, the growing use of cloud-based treasury and risk management platforms is the primary driver of market growth.

The Monetary Authority of Singapore published a report in January 2021, stating that many multinational corporations (MNCs) are increasing fund flows and establishing their corporate treasury centers in Singapore. This move is aimed at facilitating capital raising, cash management, and risk hedging. The banking sector in the APAC region is experiencing growth, and this is facilitating the adoption of treasury and risk management solutions. Banks are increasingly adopting these solutions to securely maximize their profits while minimizing the risk of exposure. Following the financial crisis, it has become crucial for banks to manage liquidity and risk in the best possible way. Therefore, banks must have effective treasury and risk management solutions in place to optimize their investment and funding operations.

Financial analytics is proving to be highly beneficial for treasury functions as it offers valuable insights into customers, competitors, profitability, and processes. Additionally, financial analytics can empower the Chief Financial Officer (CFO) to make informed decisions regarding strategic planning and investment. Consequently, creating an analytics-driven organization has emerged as a top priority for fostering collaboration between CFOs and Chief Information Officers (CIOs). This trend has contributed to a significant rise in the demand for financial analytics services, which is driving growth in the treasury and risk management market.

Impact of COVID-19 Pandemic on Asia Pacific Treasury and Risk Management Market
The growth of the treasury and risk management market in the APAC region has been bolstered by increased spending on the IT sector. This trend is exemplified by notable increases in domestic ICT spending, such as the 8% growth in China, 7.5% growth in Malaysia, and 9.6% growth in New Zealand reported by CIO TECH ASIA in 2019.

The COVID-19 pandemic positively affected the APAC treasury and risk management market in 2020, which was supported by increased spending on the ICT sector. As reported by Kizhakedath Media Services, the total ICT spending in APAC, covering software, services, telecom services, hardware, and new technologies, was US$ 1,200 billion in 2020. Additionally, the expenditure on the ICT sector is expected to continue to rise from 2021 to 2022, with APAC having spent approximately US$ 1,300 billion in 2021, as per the same source. Hence, the APAC treasury and risk management market will grow in the mentioned years.

Key Findings of Study:
The treasury and risk management market by its components, can be divided into solutions and services, with the former having a larger market share in 2021. By deployment, the market is divided into on-premise and cloud-based, with the latter having a larger share in 2021. Based on the size of the enterprise, the market is segmented into small and medium enterprises and large enterprises, with the latter having a larger market share in 2021. In terms of application, the market is segmented into account management, cash, and liquidity management, compliance and risk management, and financial resource management, with the cash and liquidity management segment having the largest market share in 2021. By end-user, the market is segmented into IT and telecom, BFSI, healthcare, manufacturing and automotive, retail, and e-commerce, with the BFSI segment having the largest market share in 2021. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM), with North America holding a significant share of the global treasury and risk management market in 2021.

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