Enterprise Governance, Risk, And Compliance (eGRC) Market Size, Share Global Analysis Report, 2021 – 2026

Industry Insights

[198+ pages Report] The latest findings and offering on the enterprise governance, risk, and compliance (eGRC) market released by Facts & Factors cover the entire market summary in a neatly titled “Global Enterprise Governance, Risk, And Compliance (eGRC) Market” report. The current study estimates the global enterprise governance, risk, and compliance (eGRC) market to be valued at USD 32.1 Billion in the year 2020 and will grow at an estimated CAGR rate of 10.8% to an overall value of USD 61.2 Billion in the year 2026.

Market Overview

Enterprise governance, risk, and compliance (eGRC) is a concept of tackling governance, mitigating risks, and compliances for an enterprise or an organization by creating a wider set of policies that provide policies, procedures, regulatory controls, risk assessment controls, risk monitoring measures, and internal controls to name a few. These mechanisms identify the correct mechanisms in order to identify, manage, and anticipate incoming risks so that the upper management can induce policies and institute procedures for minimizing risks.

Industry Growth Factors

The global enterprise governance, risk, and compliance (eGRC) market are expected to witness higher growth during the forecast period owing to the rising need of meeting stringent compliance standard mandates coupled with rising data and security breaches to name a few. Additionally, increasing integration of technologies pertaining to artificial intelligence and blockchain technologies coupled with the rising number of eGRC vendors is expected to increase the footprint of the global enterprise governance, risk, and compliance (eGRC) market during the forecast period. Moreover, increasing complexities in the ongoing infrastructure-related projects coupled with the rising volume of data are expected to boost the global enterprise governance, risk, and compliance (eGRC) market during the forecast period.

The global enterprise governance, risk, and compliance (eGRC) market are expected to be driven by factors pertaining to real-time situation monitoring tools coupled with efficient implementation leading to the prevention of monetary and reputational risks to name a few. However, irregular regulatory policies across the global scale are expected to hamper the growth of the global enterprise governance, risk, and compliance (eGRC) market during the forecast period.

Segmentation Analysis

The global enterprise governance, risk, and compliance (eGRC) market are segmented into components, type, services, enterprise size, industry verticals, and regions.

The global enterprise governance, risk, and compliance (eGRC) market are bifurcated into software & services on the basis of components. The software segment is expected to witness the largest market share during the advent of the forecast owing to decreasing cost of software integrated solutions coupled with increasing functionality dealing with compliance to supply chain, quality control, and OSHA mandated rules. Based on type, the global enterprise governance, risk, and compliance (eGRC) market are divided into audit management, compliance management, risk management, policy management, incident management, and others. The segment pertaining to risk management is expected to witness the largest market share during the advent of the forecast owing to the latter’s ability to avert breaches against requirements and further help avoid subsequent policies to name a few. The global enterprise governance, risk, and compliance (eGRC) market are segregated into integration, consulting, and support on the basis of services. The consulting segment is expected to occupy the largest market share during the advent of the forecast owing to the shifting paradigm of consumers to the emergence of IoT and other digital frameworks coupled with the integration of big data practices to name a few.

The global enterprise governance, risk, and compliance (eGRC) market can be segregated into SMEs and large enterprises on the basis of enterprise size. The segment pertaining to large enterprise is expected to witness the largest market share during the advent of the forecast owing to changing regulatory scenarios coupled with rising number of measures evolving mitigating threats to name a few. The global enterprise governance, risk, and compliance (eGRC) market can be shattered intoBSFI, construction & engineering, energy & utilities, healthcare, government, manufacturing, retail & consumer goods, telecom & IT, and others on the basis of industry verticals. The segment pertaining to BSFI is expected to witness the largest market share during the advent of the forecast owing to risk management tools pertaining to identifying potential threats to the consumers coupled with increasing number of third parties expanding their product range to name a few.

Report Scope

Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to the region is the home to many large-scale companies that are often prone to cyber-attacks and phishing scams coupled with increasing government scrutiny to name a few. Additionally, the rising adoption of big data, AI, and ML-based solutions coupled with the rising number of general activities of organizations is expected to increase the footprint of the enterprise governance, risk, and compliance (eGRC) market during the forecast period. Factors pertaining to the increased adoption of cloud-based measures are further expected to open new revenue opportunities for the enterprise governance, risk, and compliance (eGRC) market during the forecast period. Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast period owing to the rising IT sector in emerging economies such as IT and China coupled with the rising need for tackling internal and external business risks to name a few.

Competitive 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
• FIS

By Component Segment Analysis

• Software
• Services

By Type Segment Analysis

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

By Services Segment Analysis

• Integration
• Consulting
• Support

By Enterprise Size Segment Analysis

• SMEs
• Large Enterprises

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