Global Enterprise Governance, Risk and Compliance (eGRC) Market is anticipated to reach USD 64.61 billion by 2025. The eGRC market is anticipated to grow at a healthy rate in the years to come. Enterprise governance, risk and compliance (eGRC) is an innovative and a multifaceted method where the concerns associated with risk management, compliance issues, and corporate governance, are combined, aligned and closely associated strategic activities with a direct influence on business.
On the other hand, the factors that may hamper the growth of the market include low awareness level concerning the advantages of enterprise governance, risks, and compliance. Enterprise governance, risk and compliance (eGRC) industry is anticipated to grow at a significant CAGR of 12.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Enterprise governance, risk and compliance (eGRC) market may be explored by component, software, services, deployment model, organization size, usage, business functions, industry verticals and geography. The market may be explored by component as Service, and Software.
Enterprise governance, risk and compliance (eGRC) industry may be explored by software as Compliance management, Audit management, Risk management, Incident management, Policy management, and others (IT GRC, Business continuity management, issue management, and financial control management). The “Risk Management software” is anticipated to show a substantial growth during forthcoming period. Risk management solutions allow administrations to extract an improved image of their initiative risks.
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Enterprise governance, risk and compliance (eGRC) market may be explored by service as Integration, Consulting and training, and Support. The “Consulting and training” segment dominated the market in 2016 and is anticipated to maintain its dominance by 2024. Compliance management and enterprise governance are rapidly growing in response to progressions and changes in hiring, technology and personnel requirements, consumer demands and concerns, and business practices.
The market may be explored by deployment model as Cloud, and On-premises. The market may be explored by Organization size as Enterprises, and SMBs. The industry may be explored by usage as External, and Internal. The market may be explored by Business function as IT, Finance, Operations, and Legal.
Enterprise governance, risk and compliance (eGRC) industry may be explored by industry verticals as Transportation and logistics, BFSI, Government, Construction and engineering, Healthcare, Energy and utilities, Manufacturing, Retail and consumer goods, Mining and natural resources, Telecom and IT, Others (Media and entertainment, academia, tourism and hospitality, and oil and gas). The “BFSI” dominated the eGRC industry in 2016 and anticipated to maintain its dominance by 2025.
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North America accounted for the major share of the enterprise governance, risk and compliance (eGRC) market size in 2016 and will continue to lead in the forecast period due to factors such as increasing cyber-attacks across the region in the past few years. It has eventually enhanced the requirement for enterprise governance, compliance and risk management solutions. Furthermore, improved technologies such as Internet of Things, cloud software, and big data, has driven the development of eGRC solutions.
Some of the key players that fuel the growth of the enterprise governance, risk and compliance (eGRC) industry include SAS Institute, Inc., Modulo Security, LLC, EMC Corporation, Oracle Corporation, IBM Corporation, Microsoft Corporation,SAP SE, Maclear SA, Deloitte LLP, BWise BV, Fidelity National Information Services, Inc. (FIS), Software AG, Protiviti Inc, and Thomson Reuters Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
Enterprise Governance, Risk and Compliance Component Outlook (Revenue, USD Million, 2015 – 2025)
• Software
• Service
Enterprise Governance, Risk and Compliance Software Outlook (Revenue, USD Million, 2015 – 2025)
• Audit Management
• Compliance Management
• Risk Management
• Policy Management
• Incident Management
• Others
Enterprise Governance, Risk and Compliance Service Outlook (Revenue, USD Million, 2015 – 2025)
• Integration
• Consulting
• Support
Enterprise Governance, Risk and Compliance Enterprise Type Outlook (Revenue, USD Million, 2015 – 2025)
• Small & Medium Enterprise (SME)
• Large Enterprise
Enterprise Governance, Risk and Compliance Vertical Outlook (Revenue, USD Million, 2015 – 2025)
• BFSI
• Construction & Engineering
• Energy & Utilities
• Government
• Healthcare
• Manufacturing
• Retail & Consumer Goods
• Telecom & IT
• Transportation & Logistics
• Others
Enterprise Governance, Risk and Compliance Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
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