Enterprise Governance, Risk, and Compliance Market Overview
Enterprises and economies are becoming interrelated in this changing environment and giving rise to eGRC software and solution. Enterprise governance, risk, and compliance is a tactical discipline that allows organizations to identify and protect themselves against all possible risks, improving operations. Enterprise governance, risk, and compliance has several benefits upon deployment.
These benefits include reduction of costs, rationalizing controls, and identification of operational inefficiencies, among others. Such benefits are boosting the enterprise governance, risk, and compliance market. Moreover, a growing demand for corporate governance, regulatory requirements, and compliance is also supplementing the ascension of the global eGRC Market over the forecast period.
The global Enterprise Governance, Risk, and Compliance Market is projected to reach a valuation of USD 48 billion by 2023, ascending at 13% CAGR. Organizations are feeling a higher need to increase their operational efficiency due to increasing competition and a need to not only retain their market position but also to expand and gain a competitive advantage over their peers. Such need has resulted in rapid adoption of the same, primarily driving the enterprise governance, risk and compliance market over the forecast period.
However, a variation in the regulatory policies in different countries is posing as a major challenge for market growth. Apart from that, the lack of awareness towards the advantages of eGRC and limited resources available to companies are other factors hampering market growth over the review period.
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Enterprise Governance, Risk, and Compliance Market Segmentation
The enterprise governance, risk, and compliance (eGRC) market is segmented on the basis of component, deployment model, organization size, end-user, and region. Based on component, the market is segmented into software and service. The software segment is further sub-segmented into policy management, audit management, compliance management, financial control management, and risk management. Among these sub-segments, the risk management software accounted for the largest share of the market at the beginning of the forecast period. Such dominant hold on the market can be accredited to the increasing risks in several fields and a need to forecast, prevent and prepare against such risks. Based on service, the market is segmented into integration, consulting, and support. Within the service segments, the integration sub-segment is estimated to spearhead the global enterprise governance, risk, and compliance market during the assessment period.
Based on the deployment model, the global eGRC market is segmented into cloud and on-premise. Based on organization size, the enterprise governance, risk, and compliance market is segmented into large enterprise and SMEs. Based on end-users, the eGRC market is segmented into transportation, energy, BFSI, IT and telecom, healthcare, retail, education, manufacturing, and government.
Key Players
The prominent players in the enterprise governance, risk, and compliance market are – 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.), among others.
Regional Analysis
The enterprise governance, risk, & compliance (eGRC) market is segmented into the regions of the Americas, Asia Pacific, Europe, and Rest of the World. The Americas are further segmented into North America and Latin America. North America is anticipated to hold the foremost position in the global enterprise governance, risk, and compliance market over the forecast period. This can be accredited to the prevalence of several regulations in the region.
As per the MRFR analysis, Asia Pacific is expected to show a significantly positive growth graph for enterprise governance, risk, and compliance through the forecast period. India, China, Japan, and South Korea are expected to emerge as major growth pockets in the regional enterprise governance, risk, and compliance market.
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TABLE OF CONTENTS
1 Market Introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
2.4.3 Market Crackdown & Data Triangulation
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
Continued…
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In 2018, the global Enterprise Governance, Risk, and Compliance (eGRC) market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025.
The report sheds light on the highly lucrative Global Enterprise Governance, Risk, and Compliance (eGRC) Market and its diversifying nature.
The report provides a detailed analysis of the market segmentation, size, and share; market dynamics such as the growth drivers, restraints, challenges, and opportunities; service providers, investors, stakeholders, and key market players.
In addition, the report highlights the threat factors that the market will likely encounter over the forecast period.
The report provides detailed profile assessments and multi-scenario revenue projections for the most promising industry participants.
The Global Enterprise Governance, Risk, and Compliance (eGRC) report focus on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition.
Market Scenario:The global enterprise governance risk compliance Industry is touted to touch USD 48 billion at 13% CAGR over the predicted years (2017-2023).
Enterprise Governance Risk Management and Compliance is a way in which any enterprise addresses governance, handles risk and compliance via creating internal controls, risk monitoring, risk assessment, regulatory controls, policies and procedures which employees must follow.
It aids organizations in managing risks across an enterprise along with preparing safeguards for minimizing risks and its impact.
It ensures standardized workflows and streamlined processes, buffers an organization against errors and regulatory scrutiny and ensures that the systems and controls are in place for the data to remain constant across the enterprise.There are plentiful factors that is boosting the growth of the Enterprise Governance, Risk, and Compliance Industry.
On the contrary, lack of awareness regarding EGRC in small & medium businesses coupled with fluctuating regulatory policies are factors that may impede the growth of the enterprise governance risk compliance market over the predicted years.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2786Enterprise Governance, Risk, and Compliance Industry SegmentationMRFR report provides an extensive segmental analysis of the enterprise governance risk compliance market on the basis of deployment model, component, end-user and organization size.Based on component it is segmented into software and service.
Of these, consulting will lead the market.Based on deployment model, the eGRC Market is segmented into on premise and cloud.
COVID-19 Impact Analysis on EGRC (Enterprise Governance, Risk and Compliance) Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the egrc (enterprise governance, risk and compliance) market include SAP SE, MetricStream Inc., Thomson Reuters, Wolters Kluwer, IBM, Microsoft, Oracle, SAS Institute, Thomson Reuters, Wolters Kluwer, Dell EMC, FIS, MetricStream.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global eGRC (Enterprise Governance, Risk and Compliance) Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/egrc-enterprise-governance-risk-and-compliance-market/download-sampleMarket DynamicsEnterprise governance, risk, and compliance services are growing in importance and recognized as the three biggest business-facing priorities.
The growing complexity of the business environment and increasing need for enterprises to put in place mechanisms to ensure that the successful business ride is steering demand for the global eGRC (enterprise governance, risk, and compliance) market.
