Global Enterprise Governance, Risk, and Compliance (eGRC) Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.




Market Overview:

Managing regulatory risk for any organization is the top risk. For organizations, managing regulatory risk is becoming vital as enterprise governance risk compliance supports organizations to manage and integrate IT operations that are conditional on regulation. With the introduction of government regulations across the industry, verticals globally have led organizations to implement enterprise governance, risk, and compliance (eGRC).The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

The enterprise governance, risk, and compliance (eGRC) enable audit, risk & compliance management, business resiliency applications, and others. Increasing the adoption of digital and automated solutions has led to an increasing volume of risk in organizations. This has led to the adoption of enterprise governance risk compliance, which helps organizations to meet challenges of cybersecurity threats, regulatory change, reputation risk, and third-party exposure.

In the last few years, demand for enterprise governance, risk, and compliance (eGRC) and services have grown-up at a significant rate, because of the introduction of many regulations by government bodies across industries. Also, enterprise governance, risk, and compliance (eGRC) providers are doing a partnership with different public and private firms for up-gradation of their existing infrastructure and implementing eGRC to minimize the damage caused by several risks within organizations.

For business management, it has become necessary to use enterprise governance, risk, and compliance to simplify performance enhancement measures. The enterprise governance, risk, and compliance market are growing because of numerous acquisitions, like OpenPages by IBM, Compliance 360 by SAI Global, TruArx by ANXeBusiness and BWise by NASDAQ OMX. There are several small scale competitors in the enterprise governance, risk and compliance market who offer compliance support and maintenance, consulting, and integration services to businesses.

Market Dynamics:

Enterprise Governance, risk, and compliance (eGRC) policies directly influence IT processes, the aligned IT infrastructure, and associated business processes. In the past, organizations that were exclusively focused on regulatory compliance directives, for example, Sarbanes-Oxley (SOX), are now obliged to the need of addressing an extensive array of eGRC-related regulatory concerns that are widespread across several geographies and their respective administrations.

Removing the borders of where & how an enterprise function entails to crafting an environment of risk visibility, flexible business process design, and information transparency, that is essential to the future of an effective enterprise. In many cases, these efforts are not reinforced strongly comparable to their potential, thereby resulting in poor eGRC support and reduced business agility. The present economic scenario is perceiving many organizations to forcefully address eGRC regulation, including SOX, Gramm-Leach-Bliley, and HIPAA amongst others, and its resultant effect on their business improvement road maps. Additional, several organizations proactively choose to tackle their eGRC processes, such as enterprise risk assessments and thereby integrating it into business process changes numerous eGRC initiatives functioning within the industry, like Enterprise eGRC initiatives & Operational eGRC initiatives are Sarbanes-Oxley Act, Company Ethics/ Foreign Corrupt Practices Act (FCPA), BSA (Bank Secrecy Act), primarily designed for Anti-Money Laundering, FDA cGXP/ISO 13485/21CFR Part 11, HACCP/ISO22000 Compliance and among others.

The advent of big data is expected to traction the growth of the artificial intelligence-based eGRC system market as a large volume of data needs to be captured, stored and analyzed. The requirement of managing and improving the computational model of such data has become a primary concern among the end-users. This is enabling them to adopt artificial intelligence solutions at a faster pace. The adoption of artificial intelligence is expected to change the entire outlook of big data and big data analytics.

On the other hand, limited resources and awareness within organizations, complexities related to governing security across cloud platforms, the fluctuating structure of regulatory policies, and the growing complexity of risk and compliance programs are the some of the factors restraining the enterprise governance, risk, and compliance (eGRC) market.

Key Market Trends

Risk management Expected to Emerge as the Largest Software Category

Risk management is expected to account for the largest market share in terms of overall revenue amongst the other software solutions in the enterprise governance, risk, and compliance (eGRC) market. Risk management helps enterprises prevent breaches and make sure that any risk related to the activities of the enterprise is identified and addressed in a way that supports the organization's business goals.

According to the Risk Management Association, the most important risk management challenges in 2018 were an operational risk (including cyber and third-party risks), regulatory compliance, and credit. Therefore, a substantial increase in expenditure was witnessed because of regulatory compliance.

eGRC helps organizations manage risk across an enterprise and get ready to safeguard those against risks. By having the exact mechanisms in place to identify, manage, measure, and anticipate risks, executive management can develop policies and institute procedures to minimize risks and their impacts.

Market Segmentation:

Based on the deployment mode, cloud-based deployment of enterprise governance, risk & compliance (eGRC) software is expected to exhibit a significant CAGR during the forecast period.

Surging penetration of cloud-based BYOD devices culture and application dependence would drive the growth of cloud-based eGRC software in the future. Furthermore, the demand for cloud-based eGRC software would increase as it enables to achieve data, policies, and controls and is visible throughout the enterprise. Cloud-based software would help an organization to gain an in-depth analysis of risk, and decrease complexity.

According to the organization Size, small enterprises expected to hold a leading position in the enterprise governance, risk & compliance market in terms of CAGR in the future. Small enterprises are expected to generate the highest CAGR in enterprise governance, risk & compliance (eGRC) market during the estimated period. Growth of eGRC in small and medium enterprises is because of the increasing strict government regulations across industry verticals. Some of the industries, such as BFSI, telecom & IT, manufacturing, retail, and others have to follow the regulations and manage risks related to their industry.

Region-wise, North America held the largest market share and expected to remain the dominant region in terms of revenue contribution in the future. The region is headquartering many large enterprises that are continuously at the risk of cyberattacks and government inspection. Hence, organizations in the region are opting for agile and advanced software solutions that entail fewer resources thanks to veritable staffing drought and cyber threats. GRC solutions help to manage the general activities of organizations. Numerous organizations have adopted different compliance and risk management programs by 2019 to avoid monetary losses. Furthermore, higher adoption of big data, IoT, and cloud software technologies in North America is expected to push the growth of eGRC software over the forecast period.

In addition, Asia Pacific is expected to register the highest CAGR over the forecast period, thanks to the growing IT industry in India and the manufacturing sector in China. Other prominent countries contributing to the rising adoption of the eGRC solution, include Japan, South Korea, Taiwan, Vietnam, and Indonesia. Vietnam is catching up with 5G service in telecom as Viettel, Vietnamobile, MobiFone, Vietnam Posts, and Telecommunications Group have collaborated to launch the service by 2020. Also, rapidly emerging IT infrastructure and the need to tackle cybersecurity risk is also driving the market.

Recent Development:

May 2019, IBM and Thomson Reuters announced collaboration joint collaboration to introduce powerful AI data and data combination to support banking industry to address rising regulatory requirements.

June 2018, IBM OpenPages GRC Platform V8.0 added a reimagined task-based user interface, enhancing both the efficiency and effectiveness of the first line of defense. IBM OpenPages GRC Platform V8.0 is an integrated GRC platform that companies can use as a tool to assist in managing risk and regulatory challenges across the enterprise.

The objective of the report is to present a comprehensive analysis of the Global Enterprise Governance, Risk, and Compliance (eGRC) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Enterprise Governance, Risk, and Compliance (eGRC) Market dynamics, structure by analyzing the market segments and project the Global Enterprise Governance, Risk, and Compliance (eGRC) Market size. Clear representation of competitive analysis of key players by application, price, financial position, product portfolio, growth strategies, and regional presence in the Global Enterprise Governance, Risk, and Compliance (eGRC) Market make the report investor’s guide.




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Scope of the Enterprise Governance, Risk, and Compliance (eGRC) Market

Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Component

• Software
• Service
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Deployment Mode

• On-premise
• Cloud
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Organization Size

• Large Enterprises
• Small & Medium Enterprises
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Business Function

• Finance
• Information Technology
• Legal
• Operations
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Type

• Policy Management
• Compliance Management
• Audit Management
• Incident Management
• Risk Management
• Others
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Industry Vertical

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Energy & Utilities
• Manufacturing
• Government & Defense
• Others
Global Enterprise Governance, Risk, and Compliance (eGRC) Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Enterprise Governance, Risk, and Compliance (eGRC) Market

• IBM Corporation
• Lockpath Inc.
• LogicManager Inc.
• MetricStream Inc.
• Microsoft Corporation
• SAP SE
• SAS Institute Inc.
• Oracle Corporation
• RSA Security LLC
• Thomson Reuters
• Wolters Kluwer
• FIS
• Software AG
• SAI Global
• ProcessGene
• NAVEX Global
• Ideagen
• Alyne
• MEGA International







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