Governance, Compliance And Risk Management Software Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Will the Governance, Compliance And Risk Management Software Industry Market Size Be by 2025?
In the past few years, the market size for governance, compliance, and risk management software has seen a swift increase. The market is expected to expand from $46.02 billion in 2024 to $51.09 billion in 2025, marking a compound annual growth rate (CAGR) of 11.0%. The growth observed in the historic period can be credited to factors such as regulatory intricacy, the requirement for risk mitigation, emphasis on corporate governance, concerns about data security, and the effects of globalization.

What's the Long-Term Growth Forecast for the Governance, Compliance And Risk Management Software Market Size Through 2029?
The market size for software that manages governance, compliance, and risk is foreseen to experience a significant enlargement in the coming years, with an estimated value of $88.46 billion in 2029, boasting a Compound Annual Growth Rate (CAGR) of 14.7%. The progression during the forecasted period can be associated with the changing regulatory scenario, cybersecurity hazards, emphasis on adherence to environmental, social, and governance (ESG) norms, and initiatives towards digital transformation. The projected phase will witness predominant trends such as automatic assessment of risks associated with third parties, measures for data privacy and security, ongoing surveillance and immediate reporting, emerging ESG compliance solutions, and interfaces that are user-friendly and intuitive.

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What Are the Key Growth Drivers Fueling the Governance, Compliance And Risk Management Software Market Expansion?
The growth of the governance, compliance, and risk management software market is poised to be fueled by the increasing adoption of cloud-based networking. Comprising both on-site and public clouds, cloud networking is employed to manage network responsibilities within organizations. This technology is utilized by risk managers, account officers, and auditors to streamline their operations within a company. For example, cloud computing adoption among medium-sized businesses has reportedly grown from 53% in 2021 to 59% in 2023, as documented by Eurostat, the Luxembourg-based statistical office of the EU. Thus, the expanding usage of cloud-based networking is acting as a catalyst for the growth of the governance, compliance, and risk management software market.

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What Are the Key Trends Driving Governance, Compliance And Risk Management Software Market Growth?
Specialized software applications automating GRC programs have started to influence the governance, risk management, and compliance software industry. GRC software enables companies to manage all necessary documents and methodologies, promoting efficiency and preparedness. For instance, in August 2022, NAVEX Global, Inc., an American company specializing in GRC software, unveiled the NAVEX One platform. This groundbreaking innovation in the governance, risk, and compliance domain aims to assist multinational businesses in overcoming language barriers, aiding in precise risk and compliance communication between staff, external partners, and program administrators. NAVEX is spearheading the use of machine translations in the GRC sector, specifically targeting the issues of multilingual communication. The inclusion of secure machine translation in NAVEX One allows GRC experts to effortlessly translate supplied information, evaluations, and responses, leading to enhanced communication and quicker problem-solving. The application of dynamic machine translations not only addresses these issues, but also boosts communication efficiency. This shared service, facilitated by cutting-edge AI technology, enables users to directly translate from the NAVEX One interface.

How Is the Governance, Compliance And Risk Management Software Market Segmented?
The governance, compliance and risk management software market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud, Hybrid
3) By Enterprise Type: Small And Medium Enterprise (SME), Large Enterprise
4) By Industry Vertical: BFSI, Construction And Engineering, Energy And Utilities, Government, Healthcare, Manufacturing, Retail And Consumer Goods, Telecom And IT, Transportation And Logistics, Other Industry Verticals

Subsegments:
1) By Software: Governance, Risk, And Compliance (GRC) Software, Risk Management Software, Compliance Management Software, Policy Management Software, Audit Management Software, Incident Management Software, Other Specialized Software
2) By Services: Consulting Services, Implementation Services, Training and Support Services, Managed Services, Other Professional Services

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Which Companies Are Leading the Charge in Governance, Compliance And Risk Management Software Market Innovation?
Major companies operating in the governance, compliance and risk management software market include International Business Machines, Oracle Corporation, SAP SE, ServiceNow Inc., NICE Ltd., Software AG, Workiva Inc., OneTrust LLC, NAVEX Global Inc., MetricStream, Microsoft Corporation, MEGA International, SAI Global, Riskonnect Inc., Galvanize Inc., Lockpath Inc., Resolver Inc., LogicGate Inc., Quantivate LLC, ProcessUnity Inc., ReadiNow Corporation, ProcessGene Ltd., LogicManager, Sword GRC, ZenGRC, Convercent Inc., Cura Software Solutions, Ideagen Plc, MasterControl Inc.

Which Regions Are Leading the Global Governance, Compliance And Risk Management Software Market in Revenue?
Asia-Pacific was the largest region in the governance, compliance and risk management software market in 2024. The regions covered in the governance, compliance and risk management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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