Enterprise governance, risk, and compliance Market Business Opportunities, Latest Innovations, Top Players and Forecast by 2027|Top Companies are Microsoft (US), SAP (Germany), Oracle (US), Alyne (Germany) and ProcessGene (Israel)

Market Overview

During the projection period, the global eGRC market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.9 percent, from USD 36.1 billion in 2021 to USD 60.7 billion in 2026. The growing requirement to satisfy severe compliance standards and gain a holistic perspective of policy, compliance, risk-related data, and increasing data and security breaches are among the primary drivers driving the eGRC market expansion. Furthermore, eGRC suppliers will benefit from the rising integration of Artificial Intelligence (AI) and blockchain technology with Governance Risk Compliance (GRC) systems.

The enterprise governance, risk, and compliance market has been divided into BFSI, telecommunications, energy and utility, healthcare, government, mining, manufacturing, natural resources, information technology (IT), retail & consumer goods, transportation and logistics, and others on the end-user.

GRC (governance, risk, and compliance) is a strategic approach for an organization's overall governance, risk management practices, and regulatory compliance. Consider GRC as a method for aligning IT with business goals while effectively managing the risks and achieving regulatory needs.

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Market Segmentation

Grand View Research has segmented the global enterprise governance, risk & compliance market based on component, services, software, vertical, enterprise type, and region:

Software

Audit Management
Risk Management
Business Continuity
Information Security & Data Management
Compliance & Policy Management
Regulatory Change Management
Services

Consulting
Support & Maintenance
Integration & Implementation
Organization Size
Enterprise type

Large Enterprises
Small Enterprises
Medium Enterprises
Vertical

Aerospace & Defense
Consumer Goods & Retail
Automotive
ITES & Telecom
Healthcare & Life Science
Others
Region

North America
Western Europe
Latin America
Eastern Europe
Japan
Asia Pacific Excluding Japan
The Middle East and Africa
Regional Classification

Asia Pacific, Latin America, North America, Europe, and the Middle East, and Africa are the regions in which the Enterprise Governance, Risk, and Compliance Industry are divided. During the projected period, North America will have the largest Enterprise Governance, Risk, and Compliance Market Size. Many vendors in this area have adopted numerous inventive techniques to sustain their market position. The numerous vendors connected with the eGRC market are increasing their reach in their specific area to service their changing client expectations, which is attributed to the industry's growth rate. The Asia Pacific would be in the driver's seat.

Industry News

Compliance and risk management have become critical components of business goals and non-negotiable elements of corporate strategy. With new requirements and standards coming into effect in the current rigorous regulatory climate, adhering to regulatory changes to ensure safety has emerged as a top priority for every bank.

Following the epidemic, major banks worldwide reported a significant surge in phishing and other similar threats. Several banks loosened security rules to maintain business continuity, including allowing money transactions via e-mail. Distant employees with access to firm information not protected by or monitored by the bank's internal firewall are among the most serious security risks.

As technological improvements have aided the majority of financial services vendors worldwide, a push is being made toward the essential need for security and reliability.

The enterprise governance, risk, and compliance market has a high level of competition and is fairly concentrated. Prominent corporations have used numerous techniques like new product creation, acquisition, and partnership to increase their market share. As corporate governance and compliance standards grow for end-users, creativity and feature updates are prevalent.

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Enterprise Governance, Risk, and Compliance Market, by Component (Software and Service), by Organization Size (SME, Large Enterprise), by Deployment Model (Cloud, On-Premise) and End-User (Retail, Education, Government) - Forecast 2027

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