eGRC Market 2022 | Growing Awareness About Benefits Of Technology

According to Precision Business Insights (PBI), the latest report, the EGRC market is expected to be valued at USD 33.675.2 million in 2022 and is poised to grow at a significant CAGR of 13.2% over 2022-2028.The primary driver of the expansion of the global EGRC market by an increase in the risk of a data breach in establishments and the implementation of strict government regulations towards data security, compliance, and risk management.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/egrc-market/

BFSI Segment to Dominate the eGRC Market:
On the basis of application, the BFSI segment is expected to have a larger revenue share in the global EGRC market, with a value share worldwide. BFSI appeared as the largest segment in previous years and is projected to increase its growth rapidly owing to the bfsi sector has moved into the digital medium and having witnessed significant implementation in AI, Machine Learning, Big Data, IoT, and adoption of fintech as an advanced model. A huge amount of data generated from the fintech and financial service industries has augmented the growth of the digital revolution, subsequently, the risk of data theft & fraudulent activities has boosted the demand for the eGRC market. The need to adopt vigorous EGRC solutions has become important to safeguard the investors and manufacturers' interests. The BFSI sector is aggressively implementing analytics and mechanical edge to monitor flexible and time-saving transactions these factors will expand bfsi sector growth, which in turn the eGRC market is expected to grow progressively over the forecasted period.

North America eGRC Market:
North America is expected to dominate the global EGRC market over the forecast period as this region have a significant revenue share in the past few years owing to a wide range eGrc demand in various application sectors such as healthcare, banking and finance sector, and many more. EGRC is growing to a great extent in the North American market, the providers in this region are diving deep into the roots of generating technologically innovative commodities. The adoption of innovative business models by the U.S. and Canada is another factor by which this region leads the eGRC market. Moreover, these countries are also proceeding with cloud-based EGRC services, and these solutions have taken the market amid the COVID-19 pandemic. The Asia Pacific market is projected to emerge as the fastest-growing regional market during the forecast period. India and China are frequently adopting the implementation of AI and machine learning which is driving the regional demand. India is expected to lead the Asia Pacific region by renovating its efforts to transform the country into an IT center. In contrast, China is already entering the eGRc market by rising investments from public and private authorities to provide eGRC cloud-based services in this region as well as across the world.

Request sample report at https://precisionbusinessinsights.com/request-sample?product_id=60637

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global EGRC market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

The eGRC market is segmented based on component, software, service, type, application, and geography.
Based on the component, the market is segmented into the following:
• Software
• Services

Based on the software, the market is segmented into the following:
• Audit Management
• Risk Management
• Compliance Management
• Incident Management
• Policy Management
• Others

Based on the service, the market is segmented into the following:
• Integration
• Consulting
• Support

Based on the type, the market is segmented into the following:
• Small and Medium Enterprise (SME)
• Large Enterprise

Based on the application, the market is segmented into the following:
• BFSI
• Government
• Construction & Engineering
• Manufacturing
• Energy & Utilities
• Transportation & Logistics
• Healthcare
• Retail & Consumer Goods
• Telecom & IT
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Request Methodology: https://precisionbusinessinsights.com/request-methodology?product_id=60637

Key players' profiles in the EGRC market report are IBM (US), Microsoft (US), SAP (Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), Wolters Kluwer (Netherlands) and FIS (USA).

Contact:
Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers. Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.