Global Enterprise Governance, Risk And Compliance Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Enterprise Governance, Risk And Compliance Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Enterprise Governance, Risk And Compliance market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global enterprise governance, risk and compliance market size was valued at USD 31.27 billion in 2019 and is projected to expand at a CAGR of 14.0% during the forecast period. Increasing adoption of compliance and risk management solutions by various enterprises to overcome monetary and reputational risk of non-compliance is anticipated to be the key growth driver. Moreover, rising complexity of compliance, regulatory, and risk management environment in businesses has paved the way to implement governance, risk and compliance (GRC) solutions across various industries.

Rapid globalization and commercialization led to the intervention of the government by making policies for fair trade practice. The enterprise governance, risk and compliance (EGRC) was introduced to address the complexity of complying with the stringent regulatory policies resulting in a higher demand for the EGRC solution. The slow down or growth in the economy of countries such as India, U.S., China, Germany, U.K., and France will lead to updates in regulations or introduction of the new policy which will further bolster the demand for EGRC management solutions. Also, the business organizations may seek unprecedented requirements for governance, risk and compliance management at an enterprise level due to changing business scenario, security need, and external reporting obligation over the forecast period. The increasing volumes of digital data, the subsequent need for continuous monitoring and analysis to ensure adequate data security and privacy protection, and the regulations being laid down by different regulatory agencies are further driving the demand for EGRC.

The advent of technology initiated the burgeoning growth of various industries by contributing to the diverse business function from manufacturing to marketing. Hence, the implementation of the EGRC solution is substantial in overcoming the challenges of hyper-connected business model. Also, the introduction of big data will contribute to the growing market of EGRC by assisting in the analysis of legislations, form processes, and regulations to support professionals and make an informed business decision. The fast growth of the EGRC market is further attributed to the changing landscape of business and government policies across BFSI, construction and engineering, energy and utilities, manufacturing, retail, and other industries.

The trade war, introduction of General Data Protection Regulation (GDPR), and banking slowdown in few countries led to sweeping new regulations across the industry necessitating a look at external and internal processes and consequences. Moreover, consumer privacy regulations and laws in Europe and other regions have created unique challenges for different multi-national entities that carry their businesses over the web, thus posing challenges

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Enterprise Governance, Risk And Compliance market are included as given below:

SAP SE; MetricStream Inc.; Thomson Reuters; Wolters Kluwer; IBM; Microsoft; Oracle; SAS Institute; Thomson Reuters; Wolters Kluwer; Dell EMC; FIS; MetricStream, Software AG; BWise; SAI Global; ProcessGene; LogicManager; NAVEX Global; Ideagen; Alyne; and MEGA International are some of the leading vendors operating in the market. The vendors focus on launching an upgraded solution and partnership to provide solutions suite relevant to new governance policies. For instance, September 2019, OneTrust, LLC unveiled its GRC solution for integrated risk management platform which, streamlines audits, implements dynamic business controls, and connects departments for managing risk. Also, in January 2019, XebiaLabs launched security and compliance risk assessment tracking for software to assist in application release status information and asses security and compliance risks related to failing in product releases, production security vulnerabilities, and IT governance violations.

The global Enterprise Governance, Risk And Compliance market has been segmented as below:

• Component

  • Software

  • Services

• Software 

  • Audit Management

  • Compliance Management

  • Risk Management

  • Policy Management

  • Incident Management

  • Others

• Services 

  • Integration

  • Consulting

  • Support

• Enterprise Type 

  • Small and Medium Enterprise (SME)

  • Large Enterprise

• Vertical 

  • BFSI

  • Construction & Engineering

  • Energy & Utilities

  • Government

  • Healthcare

  • Manufacturing

  • Retail & consumer goods

  • Telecom & IT

  • Transportation & Logistics

  • Others

• Global Enterprise Governance, Risk And Compliance Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Enterprise Governance, Risk And Compliance development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects