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
NEW YORK, Jan. 16, 2020 /PRNewswire/ -- 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.
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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.
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.
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.
Scope of the Study
Market Segmentation:
By Component
• Software
o Risk Management
o Audit Management
o Incident Management
o Compliance Management
o Policy Management
o Others
• Services
o Integration & Deployment
o Advisory & Consulting
o Support & Maintenance
By Organization Size
• Large Enterprises
• Small & Medium-Sized Enterprises
By Deployment Mode
• On Premise
• Cloud
By End User
• BFSI
• Healthcare & Life Sciences
• Energy & Utilities
• Retail & Consumer Goods
• Telecom & IT
• Government & Public Sector
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• IBM Corporation
• Microsoft Corporation
• SAP SE
• Oracle Corporation
• Software AG
• Dell Technologies Inc.
• Fidelity Information Services (FIS), Inc.
• Alyne GmbH
• LogicManager, Inc.
• ProcessGene Ltd.
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• Assured post sales research support with 10% customization free
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