Emerging from the pandemic and facing acute geopolitical, regulatory, climate change, cyber, and supply chain challenges, technology companies find themselves in a complex and constantly evolving risk environment, with data security and privacy the risk of foremost concern in technology industry risk management — as suggested by the results of our global survey of risk professionals in the technology sector, comprising of more than one-third of respondents from Asia.
Let us take a closer look at how the top risk concerns in Asia compare against global figures:
Top 10 risks for Tech companies in Asia vs. Global
In the survey, 58% of respondents ranked pandemic risk as a key concern, placing it second on the list of top risks compared to ninth globally as tech manufacturing facilities in Asia experience more severe impacts from Covid-19 and lockdowns.
Tech companies in Asia also expressed greater concern over regulatory compliance risk compared to their global peers (54% vs. 40%), driven by persistent worries over restrictions due to geopolitical trade wars and resource protectionism, as well as increased governmental scrutiny in areas such as environmental, social, and governance (ESG), foreign direct investment, and data privacy.
Meanwhile, data security and privacy as well as physical and digital business interruption are prominent concerns for both Asia and global tech companies. The Asia and Global Technology Industry Risk Study 2022 reports provide the full ranking of concerns from the survey.
More than just uncovering tech companies’ top risk concerns, the Asia and global reports also reveal:
In the reports, you’ll also find further insights on risk implications and recommendations from Marsh’s experts on how to accurately identify, prioritise, and manage the risks impacting the technology industry, giving you the information you need to strategise and improve your organisation’s resilience.