Global EnterpriseGovernance, 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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