Global Enterprise Governance, Risk and Compliance Market
Global Enterprise Governance, Risk, and Compliance Market was valued at US$ 25.32 Bn in 2019 and is expected to reach US$ 66.76 Bn by 2026, at a CAGR of 12.88% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Enterprise governance, risk, and compliance (GRC) is a strategic discipline that enables organizations to identify and protect against all types of risks and also increase operations.
The increasing demand for corporate governance, regulatory requirements, and compliance are boosting the enterprise governance risk and compliance market. Moreover, reducing costs, rationalizing controls, identify operational inefficiencies are adding fuel to the growth of the market. However, lack of awareness and restricted resources is also hampering the growth of enterprise governance, risk, and compliance market. Additionally, changing the structure of regulatory policies is hindering market growth.
The software segment is expected to the largest market share in the forecast period. Reducing the total cost of ownership of software with integrated solutions to tackle myriad regulations, such as compliance to supply chain, and quality control is expected to a key factor driving the market growth. Moreover, the growing need for assessment of third-party and supplier risk and audits are likely to boost the market at a major rate.
The BFSI sector accounted for a significant market share of over the enterprise GRC market in 2017. Banks and financial institutions are swamped by regulations introduced as a consequence of the 2008 financial crisis. The devastating impact of the crisis on the global economy resulted in regulators imposing harsher norms and ensuring accountability, transparency, and risk management.
North America is estimated to continue to lead the market in the forecast period. Rising cyber-attacks within the region over the last few years have significantly augmented the need for enterprise governance, risk, and compliance management solutions.
Some of the key players in the global enterprise governance, risk, and compliance market are Microsoft, BWise, SAS Institute Inc., IBM Corporation, FIS, Thomson Reuters, Wolters Kluwer, MetricStream Inc., EMC Corporation, Oracle, SAP SE, Newport Consulting Group, Deloitte LLP, Maclear SA, Software AG, Protiviti Inc and Modulo Security, LLC.
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Global Enterprise Governance, Risk and Compliance Market by Component
• Services
• Software
Global Enterprise Governance, Risk and Compliance Market by Deployment Mode
• Cloud
• On-Premises
Global Enterprise Governance, Risk and Compliance Market by Business Function
• Finance
• IT
• Legal
• Operations
Global Enterprise Governance, Risk and Compliance Market by Enterprise Type
• Large Enterprise
• Small & Medium Enterprise (SME)
Global Enterprise Governance, Risk and Compliance Market by 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 Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Enterprise Governance, Risk and Compliance Market
• Microsoft
• BWise
• SAS Institute Inc.
• IBM Corporation
• FIS
• Thomson Reuters
• Wolters Kluwer
• MetricStream Inc.
• EMC Corporation
• Oracle
• SAP SE
• Newport Consulting Group
• Deloitte LLP
• Maclear SA
• Software AG
• Protiviti Inc
• Modulo Security, LLC.
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This Report Is Submitted By : Maximize Market Research Company
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