Market Insights

The global enterprise governance risk and compliance market is gaining prospect owing to the benefits it caters to the customers in the information and communication technology sector. On this, Market Research Future has published its latest reports on the global enterprise governance risk and compliance market and states that it can expect its expansion by 13% CAGR during the forecast period from 2017 to 2023, with an aim to achieve a valuation of USD 48 Billion in the same period. The study, thus, enlists various factors that have kept the market motivated throughout the growth period.

Overview

Enterprise governance, risk, and compliance (eGRC) are referred to as a strategic discipline plan that allows the organizations to find and protect against all types of threats and improves operations. Across the globe, various organizations are now opting for these solutions for their safety of data and information and better operation options. With the changing environment, the businesses are becoming more secured and thus giving rise to the progressive enterprise governance risk and compliance solutions.

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Market Drivers Trends

According to the study of MRFR, the enlisted factors such as growing demand for corporate governance, regulatory requirements, and compliance are the major boosters for the egrc market size. The benefits offered such as reducing costs, rationalizing controls, identify operational inefficiencies are also making a benchmark for the market in the evolving information and communication technology industry, thus gaining much traction, at present.

The need to surge the operational efficiency by the organizations has also become the key driver for the market growth during the assessment period. Businesses are now in need to have various regulatory policies from various countries, which is also posing as a significant factor for the market’s growth over the processing period. 

On the flip side, the factor of lack of awareness and limited resources in provision of the enterprise governance, risk, and compliance solutions is continuously hindering the growth of enterprise governance, risk and compliance market and would continue over the assessment period.

Market Segmentation

According to MRFR’s study, the global enterprise governance, risk, and compliance market has been segmented through component, deployment model, organization size, and end-user.

Enterprise governance, risk, and compliance market in terms of component type is segmented into software, which comprises of audit management, policy management, compliance management, risk management, financial control management. The segment also includes service which is even further segmented into support, integration, consulting.

In terms of deployment model, the market includes cloud and on-premise.

In terms of organization size, the market includes SME and large enterprise.

In terms of end-user, the market includes, BFSI, energy, transportation, it and telecom, retail, healthcare, manufacturing, education, government, and many more.

Detailed Regional Analysis

Region-wise analysis of the global enterprise governance, risk, and compliance market is studied for regions of Asia Pacific, Americas, Europe and Rest of the World

North America has the most significant share of the market and leads as well, as the region has the presence of many regulations. At the same time, economically, the region is superior with lots of businesses which forces the market to explore opportunities remarkably. Banking on this, the region has guaranteed the have the most significant share of the market for itself and will in the market’s forecast period.

The Asia Pacific region is expecting the fast growth of the said market during the forecast period. The emerging economic countries such as China, Japan, and South Korea have increased disposable income and has ushered a desire to provide opportunity for more businesses to come in the coming years. These factors have given a substantial rise to the market.

Key Players

The protruding players in the enterprise governance, risk, and compliance market are listed as Dell EMC (U.S.), SAS (U.S.), Oracle (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), MetricStream (U.S.), Resolver (UK), BWise (Netherlands), Resources Connection, Inc. (U.S.), and many more.

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About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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