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Enterprise Governance, Risk and Compliance (eGRC) Market: Trajectory and Potential Growth Drivers Over $83.78 billion by 2029
Enterprise Governance, Risk and Compliance (eGRC) Market Size
What Is The Projected Market Size Of The Global Enterprise Governance, Risk and Compliance (eGRC) Market And Its Growth Rate?
• The enterprise governance, risk and compliance (eGRC) market size has grown rapidly in recent years. It stood at $40.62 billion in 2024 and is projected to grow to $45.65 billion in 2025 at a compound annual growth rate (CAGR) of 12.4%.
• The eGRC market size is expected to see a significant expansion in the next few years, with forecasts estimating it to reach $83.78 billion in 2029 at a CAGR of 16.4%.
• Factors contributing to growth in the historic period include risk management requirements, data security concerns, globalization challenges, audit and accountability needs, and operational efficiency.
• The forecasted growth can be attributed to developments in the cybersecurity threat landscape, the importance of climate and sustainability, the need for real-time monitoring and reporting, and resilience planning.
What Is Driving The Growth In The Enterprise Governance, Risk and Compliance (eGRC) Market?
Increasing cyber-attack incidents are expected to propel the growth of the enterprise governance, risk, and compliance (eGRC) market. Cyber-attacks, which involve any unauthorized access to a computer, computing system, or computer network with the intent to cause damage are becoming more common worldwide, leading to a greater demand for eGRC solutions. Furthermore, organizations globally are adopting eGRC solutions to leverage features such as risk and compliance management, business resiliency applications, and financial audit management. For instance, a UK Government report estimated that UK businesses faced around 7.78 million cybercrimes of various kinds and approximately 116,000 non-phishing cybercrimes in 2023. This dramatic rise in cyber-attacks is driving the enterprise governance, risk, and compliance (eGRC) market growth.
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Who Are the Key Players Driving Enterprise Governance, Risk and Compliance (eGRC) Market Growth?
Major companies operating in the eGRC market include:
• Microsoft Corporation
• The International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Thomson Reuters
• Wolters Kluwer N.V.
• SAS Institute Inc.
• RSA Security LLC
• Workiva
• OneTrust LLC
• MetricStream Inc.
• NAVEX Global Inc.
• Sword GRC
• Riskonnect Inc.
• Resolver Inc.
• ACL Services Ltd.
• Convercent
• ProcessUnity Inc.
• SureCloud
• Lockpath
• LogicManager Inc.
• Cura Software
• LogicGate Inc.
• SAI Global
• Quantivate LLC
• Alyne GmbH
• CyberSaint Security
• 360factors Inc.
• ConvergePoint Inc.
• Bwise Beheer B.V.
What Are The Key Trends In The Enterprise Governance, Risk and Compliance (eGRC) Market?
Key trends that are expected to dominate the forecast period include:
• Regulatory technology (regtech) evolution
• Advanced analytics and AI
• Technology integration
• Emphasis on cybersecurity risk
• Regulatory technology (regtech) integration
What Are The Segments Of The Global Enterprise Governance, Risk and Compliance (eGRC) Market?
The enterprise governance, risk and compliance (eGRC) market is segmented by:
1) Component: Software, Services
2) Organization Size: Large Enterprise, Small And Medium Enterprise
3) Deployment Model: Cloud-Based, On-Premise
4) Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Government, Energy And Utilities, Manufacturing, Retail And Consumer Goods, Telecom And Information Technology (IT), Other Verticals
Which Region Leads The Enterprise Governance, Risk and Compliance (eGRC) Market?
In 2024, the North American region held the largest share of the eGRC market. However, the Asia-Pacific region is expected to be the fastest-growing region in the forecast period. Other regions covered in this report are Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Enterprise Governance, Risk and Compliance (eGRC) Market Global Market Report?
- Market Size Analysis: Analyze the Enterprise Governance, Risk and Compliance (eGRC) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Enterprise Governance, Risk and Compliance (eGRC) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Enterprise Governance, Risk and Compliance (eGRC) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Enterprise Governance, Risk and Compliance (eGRC) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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