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Home / All latest News / Global Enterprise Governance, Risk, and Compliance (eGRC) Market

Global Enterprise Governance, Risk, and Compliance (eGRC) Market Revenue Estimated to Reach USD 61.2 Billion by 2026

14-Jan-2020 | Facts and Factors

Facts and Factors Market Research has published a new report titled “Enterprise Governance, Risk, And Compliance (eGRC) Market By Component (Software & Services), By Type (Audit Management, Compliance Management, Risk Management, Policy Management, Incident Management, & Others), By Services (Integration, Consulting, & Support), By Enterprise Size (SMEs & Large Enterprises), By Industry Verticals (BSFI, Construction & Engineering, Energy & Utilities, Healthcare, Government, Manufacturing, Retail & Consumer Goods, Telecom & IT, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global Enterprise Governance, Risk, and Compliance (eGRC) market is predicted to be valued at approximately USD 32.1 Billion in 2020 and is expected to reach a value of around USD 61.2 Billion by 2026, at a CAGR of around 10.8% between 2021 and 2026.

Governance, risk, and compliance encompass three business practices including governance, risk management, and compliance. The term GRC is also defined as an integrated assortment of abilities enabling a firm to achieve its business goals along with addressing the uncertainty and acting with integrity. Additionally, governance is the blend of processes demonstrated in the firm’s structure and the way they are handled & lead towards achieving the business objectives. Moreover, risk or risk management is risk estimation along with its effective handling. Compliance is referred to as adhering to rules and policies of the firm strictly.

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Browse the full “Enterprise Governance, Risk, And Compliance (eGRC) Market By Component (Software & Services), By Type (Audit Management, Compliance Management, Risk Management, Policy Management, Incident Management, & Others), By Services (Integration, Consulting, & Support), By Enterprise Size (SMEs & Large Enterprises), By Industry Verticals (BSFI, Construction & Engineering, Energy & Utilities, Healthcare, Government, Manufacturing, Retail & Consumer Goods, Telecom & IT, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/enterprise-governance-risk-and-compliance-egrc-market-by-286

Massive acceptance of big data analytics and IoT in eGRC solutions to drive the market growth

The growing proportion of risks against business data like data theft and data leakage is predicted to raise the acceptance of compliance solutions & security like big data analytics & connected things across various business verticals. This, in turn, will propel the business scope over the forecast timeline.

Furthermore, an increase in the number of data violations & cyber-crimes will impel the market demand over the forecast period. Apart from this, compliance mandates are predicted to scale up the scope of the business over the forecast timeline. Nonetheless, oscillating regulations and low levels of consciousness in the firm about eGRC is projected to inhibit the growth of enterprise governance, risk, and compliance (eGRC) industry during the period from 2019 to 2025. Apart from this, cyber-security, as well as third parties, can put brakes on the market expansion during the forecast timeline. However, high implementation of risk analytics and cloud-based business model in organizations will provide new growth opportunities for the market over the forecast period.

Software to lead the component segment by 2025 in terms of value

The growth of the software segment during the forecast timeline is owing to the reduced cost of software ownership with integrated services to effectively handle a slew of legislations including supply chain compliance, OSHA, and quality control.

Cloud to dominate the deployment model segment over the forecast period

The segmental growth during the forecast period is credited to the ability of the cloud to provide automatic software upgrades, disaster recovery via cloud-based backup, effective data storage,  and flexibility. Moreover, it also helps in preventing data loss and monitoring of document versions.

Asia Pacific market to record the highest CAGR over the forecast period

The market in the Asia Pacific region is set to register the highest growth rate of more than 11% during the period from 2019 to 2025. The regional market growth is attributed to large-scale awareness among the firms to enhance the business output through effectively designed eGRC solutions witnessed across the developing economies.

Top Market Players

The key market participants in the global enterprise governance, risk, and compliance (eGRC) market are IBM, Oracle, SAP, SAS Institute, ServiceNow, Software AG, RSA Security, MEGA International, Ideagen, Mphasis, MetricStream, Protiviti, SAI Global, Process Gene, LogicManager, Quantivate, Riskonnect, NAVEX Global, Alyne, Lexcomply, StandardFusion, and FIS, among others.

This report segments the Enterprise Governance, Risk, and Compliance (eGRC) market as follows:

Global Enterprise Governance, Risk, And Compliance (eGRC) Market: By Component Segment Analysis

  • Software
  • Services

Global Enterprise Governance, Risk, And Compliance (eGRC) Market: By Type Segment Analysis

  • Audit Management
  • Compliance Management
  • Risk Management
  • Policy Management
  • Incident Management
  • Others

Global Enterprise Governance, Risk, And Compliance (eGRC) Market: By Services Segment Analysis

  • Integration
  • Consulting
  • Support

Global Enterprise Governance, Risk, And Compliance (eGRC) Market: By Enterprise Size Segment Analysis

  • SMEs
  • Large Enterprises

Global Enterprise Governance, Risk, And Compliance (eGRC) Market: By Industry Verticals Segment Analysis

  • BSFI
  • Construction & Engineering
  • Energy & Utilities
  • Healthcare
  • Government
  • Manufacturing
  • Retail & Consumer Goods
  • Telecom & IT
  • Others

Enterprise Governance, Risk, and Compliance (eGRC) Market: By Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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