Future of the Global Enterprise Governance, Risk and Compliance (eGRC) Market: Trends, Innovations, and Key Forecasts Through 2034

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Enterprise Governance, Risk and Compliance (eGRC) Market Size Growth Forecast: What to Expect by 2025?
Recent years have seen a swift expansion of the market size for enterprise governance, risk and compliance (egrc). Its projections suggest an advancement from $40.62 billion in 2024 to $45.29 billion in 2025, harboring a compound annual growth rate (CAGR) of 11.5%. This historical progression is influenced by factors such as the need for risk management, apprehensions about data security, the challenges brought about by globalization, demands for audit and accountability, and the necessity for operational efficiency.

How Will the Enterprise Governance, Risk and Compliance (eGRC) Market Size Evolve and Grow by 2029?
The market size for enterprise governance, risk and compliance (egrc) is forecasted to undergo swift expansion in the coming years. It is predicted to elevate to $81.99 billion in 2029 with a compound annual growth rate (CAGR) of 16.0%. The projected growth during this period is linked to elements like the landscape of cybersecurity threats, the importance of climate and sustainability, real-time monitoring and reporting, as well as resilience planning. Distinctive movements in the forecasted period include the development of regulatory technology (regtech), advanced analytics and AI, technology integration, emphasis on cybersecurity risk, and assimilation of regulatory technology (regtech).

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What Drivers Are Propelling the Growth of Enterprise Governance, Risk and Compliance (eGRC) Market Forward?
The escalation in incidents of cyber-attacks is projected to steer the advancement of the enterprise governance, risk, and compliance (eGRC) market. Cyber-attack entails any illicit attempt to attain unauthorized access to a computer or a computing system or network with an objective to inflict harm. eGRC solutions are being embraced worldwide by organizations to exploit various attributes like risk and compliance management, business resiliency applications, and financial audit management. For instance, in April 2024, The Department for Science, Innovation, and Technology, a UK government department, reported that approximately 7.78 million diverse cybercrimes were encountered by UK businesses and about 116,000 non-phishing cybercrimes occurred in 2023. As for UK charities, they faced almost 924,000 various kinds of cybercrimes during the same timeframe. Hence, the surge in cyber-attack incidents is spurring the growth of the enterprise governance, risk, and compliance (eGRC) market.

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Which Emerging Trends Are Transforming the Enterprise Governance, Risk and Compliance (eGRC) Market in 2025?
The surge in technological innovations is a noteworthy trend increasing traction in the enterprise governance, risk, and compliance (eGRC) industry. Many prominent firms in the eGRC market are emphasizing on the creation of novel technological solutions to fortify their market presence. To illustrate, in January 2022, MetricStream, an American software corporation working in the integrated risk management (IRM) and governance, risk, and compliance (GRC) sectors, introduced ConnectedGRC, a solution equipped with AI (artificial intelligence), deep domain capabilities, and risk quantification capacities for addressing multiple pressing business issues concerning risk, compliance, audit, cyber risks, and environmental, social, and governance (ESG). The integrated GRC software provided by MetricStream enhances professionals' ability to interact more seamlessly, exchange information, and quantify risk. ConnectedGRC comprises three unique product categories including BusinessGRC, CyberGRC, and ESGRC.

What Are the Key Segments in the Enterprise Governance, Risk and Compliance (eGRC) Market?
The enterprise governance, risk and compliance (egrc)market covered in this report is segmented -

1) By Component: Software, Services
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) By Deployment Model: Cloud-Based, On-Premise
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Government, Energy And Utilities, Manufacturing, Retail And Consumer Goods, Telecom And Information Technology (IT), Other Verticals

Subsegments:
1) By Software: Risk Management Software, Compliance Management Software, Audit Management Software, Policy Management Software, Incident Management Software, Third-Party Risk Management Software, Business Continuity Management Software
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services, Managed Services

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Who Are the Key Players Shaping the Enterprise Governance, Risk and Compliance (eGRC) Market's Competitive Landscape?
Major companies operating in the enterprise governance, risk and compliance (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 Geographic Markets Are Powering Growth in the Enterprise Governance, Risk and Compliance (eGRC) Market?
North America was the largest region in the enterprise, governance, risk, and governance (eGRC) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise governance, risk and compliance (egrc) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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