The Enterprise Governance, Risk, and Compliance (eGRC) Market is expected to grow from USD 86.2 billion in 2020 to USD 224.34 billion by 2028, at a CAGR of 12.7% during the forecast period 2021-2028.
Enterprise governance, risk, and compliance (eGRC) is a systematic method used by businesses to manage their governance, enterprise risk management, and corporate compliance with relevant legislation while achieving their business goals. eGRC assists businesses in achieving their objectives through workflow automation while also maintaining compliance with policy guidelines and regulatory laws.With the increasing complexities of rigorous regulatory regulations and changing external reporting responsibilities, business situations, and security demands, more organisations across the world are looking for enterprise-level governance, risk, and compliance management. More businesses are understanding that using technology to support enterprise governance, risk, and compliance procedures is beneficial to accomplishing company objectives and strategies.
The increasing globalisation and commercialization of businesses throughout the world (especially in emerging countries like Asia Pacific and Latin America) has resulted in an increase in the regulatory environment's complexity. As a result, it can be observed that a growing number of businesses are subject to rules imposed by various regulating organisations. The eGRC industry has been fueled by expanding business functions and strict compliance regulations. Vendors have also been upgrading their eGRC solutions to address the new problems that organisations are encountering in response to the rising awareness of and demand for eGRC solutions. With the rising amount of eGRC solutions and upgrades becoming accessible, organisations are embracing these solutions more. There is a rising volume of data as technology is integrated across businesses and geographies. As a result of this digital revolution, there has been an increase in the number of cyber-attacks. This opens up a lot of possibilities for organisations to improve job performance, but it also necessitates the analysis of data silos in order to identify danger. The need for risk management software solutions has risen as company complexity have increased. Organizations may use eGRC solutions to better understand their risk exposure and manage it more cost-effectively. During the projection period, companies are likely to exhibit growing interest in eGRC solutions that use AI technology. However, the varying regulatory policies of each nation, as a result of the lack of precise regulatory rules and regulations for the execution of numerous aspects, is a key stumbling block to the EGRC Market's growth. Another problem that is likely to slow growth to some extent is a lack of knowledge among emerging-market industries. Furthermore, a lack of government support for industrial research, a lack of a technical roadmap, and a lack of a clear vision for investor communities are all predicted to stymie the EGRC market's growth.
This study delivers a comprehensive analysis of Component, End-User, and region. The Component segment includes Software and Services. The Software segment held the largest market share, The rising requirement to facilitate the adoption of eGRC solutions across sectors is related to the expansion of the services segment. The services are becoming increasingly important for the efficient deployment and operation of eGRC systems. As a result, the eGRC market is projected to see a growth in demand for different services such as training, consulting, and support. The End-User segment includes BFSI, telecommunication, energy and utility, mining and natural resources, government, healthcare, manufacturing, retail & consumer goods, Information technology (IT). The BFSI segment held the largest market share.
The market has been divided into North America, Europe, Middle East & Africa, Asia-Pacific and South America. North America holds the largest market share in the U.S., Many large-scale enterprises in North America are continuously vulnerable to cyberattacks and government monitoring. As a result of the labour shortage and cyber risks, businesses are turning to agile and sophisticated software solutions that require less people. GRC solutions aid in the management of an organization's general activities. To minimise financial losses, several businesses have implemented various compliance and risk management strategies. Furthermore, throughout the projected period, the rising usage of big data, IoT, and cloud software technologies in North America is expected to accelerate product adoption.
Some of the notable players in the market IBM (US), Microsoft (US), Oracle (US), SAP(Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), Wolters Kluwer (Netherlands), Dell EMC (US), FIS (US), Software AG (Germany).
Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, Component
Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, Age group
Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Component
4.3.2. Market Attractiveness Analysis by End-User
4.3.3. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increase in stringent compliance mandates
5.2.2. Growing data and security breaches
5.3. Restrains
5.3.1. Various structures of regulatory policies
5.4. Opportunities
5.4.1. Growing number of acquisitions and partnerships
6. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, By Component
6.1. Segment Overview
6.2. Software
6.3. Services
7. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, By End-User
7.1. Segment Overview
7.2. BFSI, telecommunication
7.3. Energy and utility
7.4. Mining and natural resources
7.5. Government
7.6. Healthcare
7.7. Manufacturing
7.8. Retail & consumer goods,
7.9. Information technology (IT),
8. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Enterprise Governance, Risk, and Compliance (eGRC) Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global Enterprise Governance, Risk, and Compliance (eGRC) Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. IBM
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Microsoft
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Oracle
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. SAP
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. SAS Institute
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. ServiceNow
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. Thomson Reuters
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Wolters Kluwer
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Dell EMC
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Software AG
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
List of Table
1. Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
2. Global Software, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
3. Global Services, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
4. Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
5. Global BFSI, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
6. Global telecommunication, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
7. Global energy and utility, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
8. Global mining and natural resources, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
9. Global government, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
10. Global healthcare, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
11. Global manufacturing, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
12. Global retail & consumer goods, Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
13. Global Information technology (IT), Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region, 2018-2028 (USD Billion)
14. North America Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
15. North America Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
16. U.S. Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
17. U.S. Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
18. Canada Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
19. Canada Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
20. Mexico Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
21. Mexico Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
22. Europe Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
23. Europe Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
24. Germany Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
25. Germany Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
26. France Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
27. France Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
28. U.K. Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
29. U.K. Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
30. Italy Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
31. Italy Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
32. Spain Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
33. Spain Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
34. Asia Pacific Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
35. Asia Pacific Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
36. Japan Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
37. Japan Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
38. China Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
39. China Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
40. India Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
41. India Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
42. South America Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
43. South America Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
44. Brazil Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
45. Brazil Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
46. Middle East and Africa Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
47. Middle East and Africa Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
48. UAE Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
49. UAE Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
50. South Africa Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component, 2018-2028 (USD Billion)
51. South Africa Enterprise Governance, Risk, and Compliance (eGRC) Market, By End-User, 2018-2028 (USD Billion)
List of Figures
1. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Segmentation
2. Global Enterprise Governance, Risk, and Compliance (eGRC) Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Attractiveness Analysis By Component
9. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Attractiveness Analysis By End-User
10. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Attractiveness Analysis By Region
11. Global Enterprise Governance, Risk, and Compliance (eGRC) Market: Dynamics
12. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Share by Component(2021 & 2028)
13. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Share by End-User (2021 & 2028)
14. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Share by Regions (2021 & 2028)
15. Global Enterprise Governance, Risk, and Compliance (eGRC) Market Share by Company (2021)
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