The Global Enterprise Governance, Risk and Compliance (EGRC) Market size is expected to reach $62.1 billion by 2025, rising at a market growth of 12.3% CAGR during the forecast period. Enterprise, governance, risk, and compliance (eGRC) can be understood as a framework that combines repositories for controls, laws and regulations, risks, assessments, policies, etc. The eGRC solutions provide several benefits including consolidation of governance, risk, and compliance (GRC) elements, making better and well-informed decisions, improving efficiency and effectiveness by reducing the chances of replication of processes, etc.
Enterprise Governance, Risk and Compliance (EGRC) Market Size
The use of eGRC solutions to handle the difficulties associated with risk and compliance is growing across all verticals. Verticals that leverage eGRC solutions include Banking, Financial Services and Insurance (BFSI), Construction and Engineering, Government, Healthcare Energy and Utility, Mining and Natural Resources, Manufacturing, Retail and Consumer Goods, Telecom and Information Technology (IT), and Transportation and Logistics. Among these, the manufacturing vertical is anticipated to expand at the highest growth pace due to the increasing need to handle different norms and guarantee regulatory compliance requirements.
Enterprise Governance, Risk and Compliance (EGRC) Market Share
Based on Component, the market is segmented into Software and Services. Enterprise GRC software accounted for the biggest share based on the component in 2018 and is expected to keep its dominance over the forecast period. Implementation of EGRC software enables organizations enhance efficiency, achieve visibility, and decrease cost of compliance and risk. Software segment is further bifurcated into Risk Management, Audit Management, Incident Management, Compliance Management, Policy Management and Others. Services segment is further segmented into Integration Deployment, Advisory Consulting and Support Maintenance. Based on Organization Size, the market is segmented into Large Enterprises and Small Medium-Sized Enterprises. Based on Deployment Mode, the market is segmented into On Premise and Cloud. Based on End User, the market is segmented into BFSI, Healthcare Life Sciences, Energy Utilities, Retail Consumer Goods, Telecom IT, Government Public Sector and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East Africa.
KBV Cardinal Matrix
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Software AG, Dell Technologies Inc., Fidelity Information Services (FIS), Inc., Alyne GmbH, LogicManager, Inc. and ProcessGene Ltd.
Market Segmentation:
By Component
By Organization Size
By Deployment Mode
By End User
By Geography
Companies Profiled
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