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Governance, Risk Management & Compliance Market Outlook 2018 Key Players: IBM, SAP, SAS, Microsoft, EMC, Fidelity Bank, Oracle, MetricStream, Turnkey consulting, Thomson Reuters, Newport Group, BWise, ACL

Global Market Insights, Inc.

Global Market Insights, Inc.

Governance, Risk Management & Compliance Market is also segmented into integrated, domain specific, and point solutions. The integrated solution provides an overall industrial solution to an organization. The domain specific offers solutions applicable to specific industry verticals in-line with the organizational goals. Point solutions provide are used to address the customer-specific challenges.

Governance, Risk Management & Compliance (GRC) Market size is driven mainly by the increasing incidences of the cyber-attacks across the countries. In 2017, approximately 164% increase in the cyber security attacks across the globe has been witnessed as compared to 2016. This encourages organizations to adopt advanced risk management solutions to mitigate the risks of cyber security attacks. Furthermore, the stringent government regulations and growing need to adhere to the compliance and corporate governance standards are driving the growth of the GRC market.

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The rise in the use of Artificial Intelligence (AI)-enabled eGRC solutions and the adoption of the software-enabled businesses & IT infrastructure are developing myriad growth opportunities for the growth of the market. However, the high installation cost of the solutions and uncertain government regulations due to uncertain regimes are restricting the growth of the governance, risk management & compliance Market.

There are three main components of governance, risk management & compliance market, governance, risk, and compliance. Governance ensures the alignment of operational activities with the organizational business goals, Risk is associated with the identification of risks involved in business activities along with its optimal solution to avoid severe consequences and Compliance makes sure that the organizational processes and activities meet the laws and regulations related to those systems.

The policy management, risk management, and audit & compliance management are the major solutions available in the market. Policy management is the governance part of the software that involves specifying, updating, communicating, publishing, and enforcing of the policy. The audit management software offers a centralized process to automate the complete the audit lifecycle. Whereas, the risk & compliance management part of the software includes processes to mitigate or minimize risks, utilize the opportunities, and check its compliance with global laws and organizational policies.

Top key Players:

1. IBM
2. SAP
3. SAS
4. Microsoft
5. EMC
6. Fidelity Bank
7. Oracle
8. MetricStream
9. Turnkey consulting
10. Thomson Reuters
11. Newport Group
12. BWise
13. ACL

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The software can be deployed in two ways: on premise or cloud based to avail its benefits. The cloud-based system is widely implemented across the organizations as it is a quick and easy way to perform operations and the cloud gives optimal reliability, security, and scalability in lower cost as compared to the on-premise system.

Transportation and logistics, IT, BFSI, construction and engineering, energy and utility, government, manufacturing, and retail are some of the major end users of the governance, risk management & compliance market. BFSI sector holds the major share due to the rising need among the financial institutes to mitigate the risk of cyber-attacks. The solutions are also used to maintain transparency in the system and provide customized services to end users.

North America governance, risk management & compliance market is leading the market followed by Europe. The growth of the market is attributed to the rising incidences of the cyber attacks in the region. Furthermore, the adoption of the big data, cloud services, and IoT technology fosters the market growth. Asia Pacific is estimated to grow substantially during the forecast timeline. The growing adoption of the cloud services in the region is driving the market growth. Furthermore, growing adoption of the solutions among the SMBs is propelling the market growth.

The major market players in the governance, risk management & compliance market are IBM, SAP, SAS Institute, Microsoft, EMC, Fidelity National Information Services, Oracle, Metric Stream, Turnkey consulting, Thomson Reuters, RSA Archer, Newport Consulting Group, BWise, and ACL. The software providers are mainly focused on the development of more intuitive and configurable platforms, offering expanded content options and better integration.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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