Press release
Enterprise Governance, Risk, and Compliance (eGRC) Market Poised for Strong Growth Amid Rising Cybersecurity Threats and BFSI Demand
Enterprise Governance Risk Compliance Market
Cybersecurity Concerns Propel Market Expansion
The growing frequency and sophistication of cyber-attacks have been a major catalyst for the eGRC market. Businesses are leveraging advanced risk management systems to tackle the mounting threats posed by cybercriminals. According to AAG IT Services, ransomware attacks surged to 236.1 billion incidents in the first half of 2022. Similarly, SonicWall reported a 105% rise in ransomware intrusions in 2021, with cyberattacks targeting governments increasing by 1,885% and the healthcare sector by 755%.
These alarming figures underscore the urgent need for effective eGRC solutions that encompass risk management, compliance tracking, and business resiliency. By adopting these tools, organizations aim to mitigate potential cybersecurity breaches and safeguard their critical assets.
To Receive A PDF Sample Of The Report, Visit @https://www.emergenresearch.com/request-sample/3057
BFSI Sector Drives Demand
The BFSI industry is emerging as a key driver of the eGRC market, as financial institutions seek to manage risks, comply with stringent regulations, and maintain financial stability. The adoption of modern technologies such as artificial intelligence (AI), machine learning (ML), and blockchain is further accelerating this demand. According to Monster.com, the BFSI sector in India grew by 27% in February 2022, propelled by the rise of digital payments and technological advancements.
eGRC solutions in the BFSI sector ensure robust governance frameworks, reduce risks, and support compliance with evolving regulatory requirements, thereby fostering greater transparency and trust.
Challenges Hindering Growth
Despite its promising growth prospects, the eGRC market faces challenges related to the complexity of implementation and integration with existing systems. Adapting to diverse regulatory standards across regions increases operational burdens for businesses, while the shortage of skilled professionals further complicates the process. These barriers lead to increased costs and slower adoption, dampening market growth to some extent.
Segmentation Insights: Consulting and Integration Services Lead the Way
The eGRC market is segmented into integration, consulting, and support services. Consulting services dominate the market, driven by the unique needs of businesses based on their industry, size, and regional regulatory requirements. This segment is expected to continue leading in revenue generation as organizations seek tailored solutions to address their specific challenges.
Meanwhile, the integration segment is projected to witness the fastest growth during the forecast period. Integrated eGRC solutions offer significant benefits, including streamlined compliance measures, proactive risk management, and improved collaboration by eliminating organizational silos. These advantages are driving widespread adoption, bolstering the segment's growth.
To Get A Discount On The Latest Report, Visit @https://www.emergenresearch.com/request-discount/3057
Enterprise Governance Risk Compliance Top Companies and Competitive Landscape
The Enterprise Governance, Risk, and Compliance (GRC) Industry is highly competitive with a multitude of service providers that are offering a series of solutions to organizations to enable them in very effectively managing compliance requirements, alleviating risks, and ensuring the best form of governance. These major players of the sector are FIS, Genpact, IBM, Maclearglobal.com, MetricStream. Regulation complexity and increased concern regarding risk management are factors that drive competition in the sector, leading these players to continuously innovate and improve their offerings so as to meet changing business requirements.
In November 2023, MetricStream created a cloud GRC solution that combines Amazon Web Services (AWS) AWS Audit Manager with MetricStream CyberGRC. MetricStream's new cloud GRC solution allows customers to centrally manage risks, compliance standards, frameworks, and controls, as well as automate evidence collection and assessments for both on-premises and AWS environments.
Some of the key companies in the global Enterprise Governance Risk Compliance Market include:
FIS
Genpact
IBM
Maclearglobal.com
MetricStream
Microsoft
NAVEX Global, Inc.
Oracle
RSA Security LLC
SAI360
SAP SE
SAS Institute Inc.
Software AG
Thomson Reuters
Wolters Kluwer N.V.
Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market
Enterprise Governance Risk Compliance Latest Industry Updates
In November 2023, IBM stated that Watsonx.governance is planned to be generally available by December 2023. This platform is intended to assist enterprises in debunking myths about AI models, the data fed into the system, and the outcomes. While the corporate world is seeing an increase in applications that use generative AI driven by Large Language Models (LLM), it is also dealing with the related risks and difficulties. These obstacles range from the necessity for better sourcing of training data from the internet to the development of outputs that require more explainability. Watsonx.governance provides enterprises with tools for successfully managing risks, increasing transparency, and preparing for upcoming AI-focused legislation.
In November 2023, Brillio formed a partnership with Microsoft to jointly develop cutting-edge horizontal and industrial solutions using Microsoft Azure OpenAI Service. These intelligent solutions, available on the Microsoft Azure Marketplace, will combine Brillio's significant industry and digital experience with Microsoft's AI and analytics platforms. This collaboration is positioned to enable enterprises in a variety of industries, including healthcare, banking, retail, financial services, life sciences, consumer packaged goods, and insurance. The goal is to drive the transition of business models, accelerate innovation, and capitalize on new growth opportunities.
In September 2023, Oracle Access Governance has been upgraded to help IT teams allocate, track, and manage user access to apps and other digital resources more efficiently. Only authorized people can access restricted assets such as source code, patents, databases, apps, and infrastructure resources such as cloud servers and services. This cloud-native tool reduces risk by providing a thorough understanding of how users interact with technical resources.
Buy Now: @https://www.emergenresearch.com/select-license/3057
Enterprise Governance Risk Compliance Market Segmentation Analysis
Component Outlook (Revenue, USD Billion; 2020-2033)
Software
Services
Software Outlook (Revenue, USD Billion; 2020-2033)
Audit Management
Compliance Management
Risk Management
Policy Management
Incident Management
Others
Software Usage Outlook (Revenue, USD Billion; 2020-2033)
Internal
External
Services Model Outlook (Revenue, USD Billion; 2020-2033)
Integration
Consulting
Support
Deployment Mode Outlook (Revenue, USD Billion; 2020-2033)
Cloud
On-premise
Business Function Outlook (Revenue, USD Billion; 2020-2033)
Finance
Information Technology
Legal
Operations
Organization Size Outlook (Revenue, USD Billion; 2020-2033)
Small & Medium Enterprise
Large Enterprise
Vertical Outlook (Revenue, USD Billion; 2020-2033)
Finance
Information Technology
Legal
Operations
Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
Browse More Report By Emergen Research:
Enterprise Governance Risk Compliance Market Size @ https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market/market-size
Enterprise Governance Risk Compliance Market Share @ https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market/market-share
Enterprise Governance Risk Compliance Market Trends @ https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market/market-trends
Enterprise Governance Risk Compliance Regional Market Demand @ https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market/regional-market-demand
Enterprise Governance Risk Compliance Market Analysis @ https://www.emergenresearch.com/industry-report/enterprise-governance-risk-compliance-market/market-analysis
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Enterprise Governance, Risk, and Compliance (eGRC) Market Poised for Strong Growth Amid Rising Cybersecurity Threats and BFSI Demand here
News-ID: 3771800 • Views: …
More Releases from Emergen Research
Global Internet of Things (IoT) in Healthcare Market to Reach USD 299.05 Billion …
The global Internet of Things (IoT) in Healthcare Market was valued at USD 299.05 billion in 2023 and is expected to grow at a CAGR of 16.5% during the forecast period. This growth is fueled by the rising use of connected healthcare devices, increasing demand for early disease detection through remote monitoring, and growing adoption of artificial intelligence (AI) tools within IoT-based healthcare systems.
The market is also benefiting from the…
Global Stem Cell Therapy Market to Reach USD 49.2 Billion by 2034, Growing at 13 …
The global Stem Cell Therapy Market, valued at USD 13.7 billion in 2024, is projected to reach USD 49.2 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.6%. Growth is being fueled by the rising burden of chronic diseases, rapid progress in cell-based studies, and increasing investments in regenerative medicine and personalized healthcare solutions.
Stem cell therapies offer the ability to repair, replace, or restore damaged tissues…
Artificial Intelligence Strengthens Cybersecurity as Threats Grow More Sophistic …
The global Artificial Intelligence in cybersecurity market size was USD 23.8 Billion in 2023 and is expected to reach a market valuation of USD 29.44 billion by the end of 2024 registering a CAGR of 23.7% during the forecast period. The adoption of Artificial Intelligence (AI) in cybersecurity is rapidly gaining traction as organizations worldwide face increasingly complex and frequent cyber threats. By combining advanced technologies such as Machine Learning…
Global Regenerative Medicine Market to Reach USD 125.6 Billion by 2034, Growing …
The global regenerative medicine market, valued at USD 34.2 billion in 2024, is set to grow to USD 125.6 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.9%. Growth is being fueled by rising approvals of advanced therapies, strong demand for personalized treatments in cancer and orthopedics, and expanding cell and gene therapy manufacturing across major markets such as North America, Europe, and Asia.
Once seen as…
More Releases for Enterprise
OpenPayd's Ozan Ozerk Named Enterprise Entrepreneur at 2025 Enterprise Awards
London, 19 June 2025 - Dr. Ozan Ozerk, founder of OpenPayd, has been named "Enterprise Entrepreneur" at this year's Enterprise Awards, an event that celebrates the UK's most impactful technology founders. The ceremony took place at Drapers' Hall on the evening of 18 June, bringing together leaders from across the innovation and investment landscape.
The recognition comes after a period of substantial growth for OpenPayd. In the past 12 months, the…
Redefining Enterprise Connectivity: Enterprise VSAT Market Poised for Remarkable …
Enterprise VSAT's market was estimated to be worth US$ 4,324.5 Mn in 2022, and by the end of 2033, it is anticipated to have increased to US$ 8,110.5 Mn. In 2023, the market for corporate VSAT is anticipated to be worth $4,514.8 Mn USD. From 2023 to 2033, the enterprise VSAT market is anticipated to expand at a 6.0% CAGR.
Businesses in industries like retail and consumer goods, healthcare, BFSI, media…
Enterprise WLAN Market Awareness Overview 2025 | , Hewlett-Packard Enterprise, H …
Global Enterprise WLAN Market: Snapshot
The global enterprise WLAN is registering a significant rise in its valuation, thanks to the increasing penetration of Internet across the world. The rapidly rising market for enterprise WLAN technology is anticipated to boost the cloud technology and the Internet of Things (IoT) industries as well, inducing intense competitiveness. Moreover, the continual technological advancements are projected to increase WLAN applications in a number of industry sectors…
Enterprise Mobility Market - Generating an Increasing Demand for Enterprise Mobi …
Geographically-spread enterprises are constantly faced with scenarios that require the convergence of a large number of communication channels and inclusion of foreign computing devices in the central network.
With a vast rise in mobile devices that need to be integrated with enterprise networks, mostly owing to the increasing trend of policies such as bring-your-own-device and choose-your-own-device, and diversely located workplaces and employees, the need for adopting enterprise mobility solution has…
Enterprise Mobility Market - Generating an Increasing Demand for Enterprise Mobi …
Geographically-spread enterprises are constantly faced with scenarios that require the convergence of a large number of communication channels and inclusion of foreign computing devices in the central network. With a vast rise in mobile devices that need to be integrated with enterprise networks, mostly owing to the increasing trend of policies such as bring-your-own-device and choose-your-own-device, and diversely located workplaces and employees, the need for adopting enterprise mobility solution has…
Develop enterprise applications using Packt's new Microsoft Enterprise Library 5 …
Packt is pleased to announce Microsoft Enterprise Library 5.0, a new book that helps programmers to develop enterprise applications using the enterprise library application blocks as well as set up the initial infrastructure configuration of the application blocks using the configuration editor. Written by Sachin Joshi, this book provides an in-depth knowledge about the individual functional Application Blocks as well as enabling reconfiguration of various applications in order to…
