Sep 24, 2021, 10:30 ET
CHICAGO, Sept. 24, 2021 /PRNewswire/ -- According to a new market research report "eGRC Market with COVID-19 by Offering (Software and Services), Software (Usage and Type), Type (Policy Management, Compliance Management, Audit Management, and Risk Management), Business Function, End User, and Region – Global Forecast to 2026", published by MarketsandMarkets™, the global eGRC Market size is projected to grow from USD 36.1 billion in 2021 to USD 60.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period. The major factors contributing to the market growth include the growing need to meet stringent compliance mandates and get a holistic view of policy, risk & compliance data, and increasing data & security breaches. These factors lead to the growing need for precise eGRC solutions, which support organizations to effectively manage Governance Compliance Risk (GRC) programs for driving the growth of the eGRC industry.
Browse in-depth TOC on "eGRC Market"
457 – Tables
50 – Figures
360 – Pages
Ask for Report Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1310
Among deployment mode, cloud segment to grow at the highest CAGR during the forecast period
The use of eGRC solutions is increasing acroCloud-based eGRC solutions are becoming popular as they offer a cost-effective and efficient way to manage governance, risk, and compliance. As cloud-based solutions offer a wide range of benefits, the adoption of the same is increasing among various industries. The adoption of cloud-based eGRC solutions is increasing among SMEs as these solutions are budget-friendly and easy to deploy. Cloud-Based eGRC vendors offer GRC solutions to help organizations automate compliance, as well as control monitoring processes. Furthermore, it enhances the visibility into risk exposure. Hence, vendors are projected to deploy eGRC solutions to leverage the benefits offered by the cloud.
Healthcare vertical to grow at the highest CAGR during the forecast period
The use of eGRC solutions is increasing across all verticals to manage the challenges associated with risk and compliance. Verticals that are leveraging eGRC solutions include Banking, Financial Services, and Insurance (BFSI), telecommunication, energy & utility, government, healthcare, manufacturing, mining & natural resources, retail & consumer goods, Information Technology (IT), transportation & logistics and others. Among these, the healthcare vertical is expected to grow at the highest growth rate, owing to the growing need to manage various standards and ensure compliance requirements for regulations. The healthcare sector is constantly focusing on enhancing the services delivered to patients. While delivering the best services to patients and staff, clinics and hospitals must assess and control various risks with regards to patient safety, federal regulations, and medical errors. In addition, risk and compliance management solutions enable healthcare service provides to consolidate the information in the form of silos to manage risk and compliance in the organization.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1310
North America to hold the largest market size during the forecast period
North America is contributing maximum in terms of revenue generation in the global eGRC Market. The region is witnessing major developments in the eGRC space. Multiple vendors across the region are involved in developing innovative products and solutions. They are focusing on the integration of advanced technologies, such as Analytics, Natural Language Processing, and Machine Learning (ML). Among all the countries of North America, the US is expected to lead in terms of the adoption of eGRC solutions. The growing business complexities and changing regulatory requirements are expected to drive market growth in the region.
Major vendors in the global eGRC Market include IBM (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), Wolters Kluwer (Netherlands), Dell EMC (US), FIS (US), Software AG (Germany), RSA Security (US), MEGA International (France), Ideagen (UK), Mphasis (India), MetricStream (US), Protiviti (US), SAI Global (US), ProcessGene (Israel), LogicManager (US), Quantivate (US), Riskonnect (US), NAVEX Global (US), Alyne(Germany), and Lexcomply (India), StandardFusion (Canada).
Browse Adjacent Markets: Software and Services Market Research Reports & Consulting
Cybersecurity Market with Covid-19 Impact Analysis by Component (Software, Hardware, and Services), Software (IAM, Encryption, APT, Firewall), Security Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026
RegTech Market by Component (Solutions and Services), Application (Risk and Compliance Management, Identity Management, Regulatory Reporting, AML and Fraud Management), Vertical, Deployment Type, Organization Size, and Region - Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/enterprise-governance-risk-compliance-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/enterprise-governance-risk-compliance.asp
Share this article