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eGRC Market worth $37.26 billion by 2030, growing at a CAGR of 11.93% - Exclusive Report by 360iResearch

02-29-2024 07:19 AM CET | IT, New Media & Software

Press release from: 360iResearch

eGRC Market | 360iResearch

eGRC Market | 360iResearch

The "eGRC Market by Component (Services, Software), Type (Audit Management, Compliance Management, Incident Management), Deployment Mode, Organization Size, End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global eGRC Market to grow from USD 16.92 billion in 2023 to USD 37.26 billion by 2030, at a CAGR of 11.93%.

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The Enterprise Governance, Risk, and Compliance (eGRC) includes software solutions, services, and tools that facilitate businesses in effectively managing their governance, risk management, and compliance processes. These comprehensive systems optimize organizational performance by automating workflows, monitoring real-time risks, and ensuring regulatory adherence. The eGRC solutions are gaining significant traction across various industries due to the increasing need for organizations to manage their financial risks while adhering to regulatory norms efficiently. The increasing complexity of regulatory frameworks worldwide and rising cybersecurity threats raise the demand for robust eGRC solutions. However, the high costs associated with implementing comprehensive eGRC systems and the complexity of integrating these solutions with existing IT infrastructure may adversely impact the deployment of eGRC solutions across the end-use sectors. Besides, developing innovative solutions that cater to evolving industry needs and integrating advanced technologies such as artificial intelligence into eGRC platforms can enable real-time analysis of risks while automating repetitive tasks, thereby improving decision-making capabilities.

The eGRC market is evolving in the Americas owing to a surge in regulatory requirements due to increased data breaches and cybersecurity incidents. Countries in the Americas have also seen significant investments in research and development of eGRC technologies to establish best practices for regulatory compliance. Several EU countries have invested heavily in eGRC initiatives to promote information sharing between government bodies and private organizations. Additionally, there is a growing need for eGRC solutions across various industries within the Middle East and Africa due to rapid digitalization efforts within these regions. The rapidly growing economies, including China, Japan, and India, embracing digital transformation across industries, including healthcare, finance, and retail, are increasing demand for effective risk management solutions. To strengthen their regional presence, Asian governments have initiated several programs promoting cloud adoption and data security compliance through tailor-made eGRC platforms. Moreover, advancements in eGRC technology can effectively manage evolving risks with increasing regulatory complexities.

Market Segmentation & Coverage:

This research report categorizes the eGRC Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Services and Software. The Services is further studied across Integration, Support, and Training & Consulting. The Services is projected to witness significant market share during forecast period.

Based on Type, market is studied across Audit Management, Compliance Management, Incident Management, Policy Management, and Risk Management. The Policy Management is projected to witness significant market share during forecast period.

Based on Deployment Mode, market is studied across Cloud and On-Premises. The On-Premises is projected to witness significant market share during forecast period.

Based on Organization Size, market is studied across Large Enterprises and SMEs. The Large Enterprises is projected to witness significant market share during forecast period.

Based on End-User, market is studied across BFSI, Energy & Utility, Government, Healthcare, IT, Manufacturing, Mining & Natural Resources, Retail & Consumer Goods, Telecommunication, and Transportation & Logistics. The Manufacturing is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 39.61% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the eGRC Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the eGRC Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the eGRC Market, highlighting leading vendors and their innovative profiles. These include Avolution Pty Ltd., Cumulocity GmbH by Software AG, Ideagen PLC, International Business Machines Corporation, LogicManager, Inc., MEGA International S.A., MetricStream Inc., Microsoft Corporation, Mphasis Limited, NAVEX Global, Inc., Neto Consulting, Okta, Inc., Oracle Corporation, Protiviti Inc., Resolver Inc., SAI360 by Intertek Group plc, SAP SE, SAS Institute Inc., ServiceNow, Inc., Thomson Reuters Corporation, TIBCO Software Inc., VComply Technologies, Inc., and Wolters Kluwer N.V..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. eGRC Market, by Component
7. eGRC Market, by Type
8. eGRC Market, by Deployment Mode
9. eGRC Market, by Organization Size
10. eGRC Market, by End-User
11. Americas eGRC Market
12. Asia-Pacific eGRC Market
13. Europe, Middle East & Africa eGRC Market
14. Competitive Landscape
15. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the eGRC Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the eGRC Market?
3. What is the competitive strategic window for opportunities in the eGRC Market?
4. What are the technology trends and regulatory frameworks in the eGRC Market?
5. What is the market share of the leading vendors in the eGRC Market?
6. What modes and strategic moves are considered suitable for entering the eGRC Market?

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Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

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