Enterprise Governance, Risk and Compliance (eGRC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Enterprise Governance Risk and Compliance Market
The enterprise governance risk and compliance market size were valued at USD 38.35 billion in 2023, and the market is now projected to grow from USD 43.65 billion in 2024 to USD 111.31 billion by 2032, exhibiting a CAGR of 12.4% during the forecast period of 2024-2032.
The COVID-19 pandemic affected the international market, causing changes in the desire for the components of eGRC. most of the enterprises continue to enhance their risk management talent through purchasing risk management tools. Therefore, use of these solutions continues to rise to enable organizations overcome exposure to COVID-19. Continuing down this line, it is important to stress that the experience of the Covid-19 pandemic has acutely revealed the relevance of sound governance, risk, and compliance approaches.
There is increasing pressure to meet multilayered standards issued by governing authorities and circuits as well as new protocols set by other regulatory organizations, which is fueling demand for eGRC solutions. These guidelines shake IT organizations and their commercial processes. Thus, companies continue to shift from the elementary compliance to such innovative compliance regulations as risk- and compliance-focused rules and regulations like SOX. It underlines the importance of improving governance, risk management and compliance in the light of changes in the current environment legislation.
The adoption of IoT with eGRC solutions will further help organizations to improve their performance Related technologies like AI, ML and Cloud computing will further enhance the adoption of eGRC solutions. With the ability to analyze big volumes of information that organizations come across, eGRC enterprise solutions that incorporate ai are today adopted constantly. These solutions bring certain advantages, for instance, efficiency improvement, and elimination of costs. The main market actors are currently working on the enlargement of the number of products through the development of new solutions based on AI and ML technologies.
Comprehensive Analysis of Enterprise Governance Risk and Compliance Market
The enterprise governance risk and compliance market growth are also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by component analysis, by deployment model analysis, by organization size analysis and by vertical analysis. By component analysis incudes software and services. By deployment model analysis incudes on-premise and cloud-based. By organization size analysis incudes small & medium enterprises (SMEs) and large enterprises. By vertical analysis incudes government, BFSI, healthcare, telecom & IT, energy & utilities, retail & consumer goods, manufacturing, and others.
The North America region lead the enterprise governance risk and compliance market share by benefitting a market size of USD 15.93 billion in 2023 due to the early adoption of innovative technologies.
Top players in the market have their responsibility of information & communication technology industrial prospectus growth of the retailing industry and the markets. These players include, SAS Institute, IBM Corporation, Microsoft Corporation, SAP SE, Thomson Reuters Corporation, Wolters Kluwer N.V., MetricStream Inc., BWise, Infosys Limited, Software AG, Dell Technologies, SAI Global, NAVEX Global, Inc., LogicManager, Ideagen Plc, Tevora, OneTrust, LLC, Blue Umbrella Limited, Riskonnect, Inc., Origami Risk, Onetrust LLC these market players provide a level-playing competitive landscape.
In March 2024, Credo AI launched governance, risk, and compliance solutions for AI, featuring a user-friendly redesign to help AI Governance Custodians ensure the safe and ethical adoption of AI technologies.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2019-2032
Base Year
2023
Estimated Year
2024
Forecast Period
2024-2032
Historical Period
2019-2022
Growth Rate
CAGR of 12.4% from 2024 to 2032
Unit
Value (USD Billion)
Segmentation
By Component
Software
Services
By Deployment Model
Cloud-based
On-premise
By Organization size
Large Enterprise
Small & Medium Enterprise
By Vertical
BFSI
Healthcare
Government
Energy & Utilities
Manufacturing
Retail & Consumer Goods
Telecom & IT
Others (Transportation & Logistics, Construction, etc.)
By Region
North America (Component; Deployment Model; Organization size; Vertical and Country)
United States
Canada
Latin America (Component; Deployment Model; Organization size; Vertical and Country)
Brazil
Mexico
Rest of Latin America
Europe (Component; Deployment Model; Organization size; Vertical and Country)
United Kingdom
Germany
France
Russia
Rest of Europe
The Middle East & Africa (Component; Deployment Model; Organization size; Vertical and Country)
GCC
South Africa
Rest of the Middle East & Africa
Asia Pacific (Component; Deployment Model; Organization size; Vertical and Country)
China
India
Japan
Rest of Asia PacificPlease Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Enterprise Governance, Risk & Compliance (eGRC) Key Players Market Share/Ranking, 2023
- 5. Global Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Component (USD)
- 5.2.1. Software
- 5.2.2. Services
- 5.3. By Deployment Model (USD)
- 5.3.1. Cloud-based
- 5.3.2. On premise
- 5.4. By Organization Size (USD)
- 5.4.1. Large Enterprise
- 5.4.2. Small & Medium business enterprise
- 5.5. By Vertical (USD)
- 5.5.1. BFSI
- 5.5.2. Healthcare
- 5.5.3. Government
- 5.5.4. Energy & Utilities
- 5.5.5. Manufacturing
- 5.5.6. Retail & Consumer Goods
- 5.5.7. Telecom & IT
- 5.5.8. Others (Transportation & Logistics, Construction, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. Latin America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Component (USD)
- 6.2.1. Software
- 6.2.2. Services
- 6.3. By Deployment Model (USD)
- 6.3.1. Cloud-based
- 6.3.2. On premise
- 6.4. By Organization Size (USD)
- 6.4.1. Large Enterprise
- 6.4.2. Small & Medium business enterprise
- 6.5. By Vertical (USD)
- 6.5.1. BFSI
- 6.5.2. Healthcare
- 6.5.3. Government
- 6.5.4. Energy & Utilities
- 6.5.5. Manufacturing
- 6.5.6. Retail & Consumer Goods
- 6.5.7. Telecom & IT
- 6.5.8. Others (Transportation & Logistics, Construction, etc.)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.2. Canada
- 7. Latin America Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Component (USD)
- 7.2.1. Software
- 7.2.2. Services
- 7.3. By Deployment Model (USD)
- 7.3.1. Cloud-based
- 7.3.2. On premise
- 7.4. By Organization Size (USD)
- 7.4.1. Large Enterprise
- 7.4.2. Small & Medium business enterprise
- 7.5. By Vertical (USD)
- 7.5.1. BFSI
- 7.5.2. Healthcare
- 7.5.3. Government
- 7.5.4. Energy & Utilities
- 7.5.5. Manufacturing
- 7.5.6. Retail & Consumer Goods
- 7.5.7. Telecom & IT
- 7.5.8. Others (Transportation & Logistics, Construction, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.2. Mexico
- 7.6.3. Rest of Latin America
- 8. Europe Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Component (USD)
- 8.2.1. Software
- 8.2.2. Services
- 8.3. By Deployment Model (USD)
- 8.3.1. Cloud-based
- 8.3.2. On premise
- 8.4. By Organization Size (USD)
- 8.4.1. Large Enterprise
- 8.4.2. Small & Medium business enterprise
- 8.5. By Vertical (USD)
- 8.5.1. BFSI
- 8.5.2. Healthcare
- 8.5.3. Government
- 8.5.4. Energy & Utilities
- 8.5.5. Manufacturing
- 8.5.6. Retail & Consumer Goods
- 8.5.7. Telecom & IT
- 8.5.8. Others (Transportation & Logistics, Construction, etc.)
- 8.6. By Country (USD)
- 8.6.1. United Kingdom
- 8.6.2. Germany
- 8.6.3. France
- 8.6.4. Russia
- 8.6.5. Rest of Europe
- 9. Middle East & Africa Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Component (USD)
- 9.2.1. Software
- 9.2.2. Services
- 9.3. By Deployment Model (USD)
- 9.3.1. Cloud-based
- 9.3.2. On premise
- 9.4. By Organization Size (USD)
- 9.4.1. Large Enterprise
- 9.4.2. Small & Medium business enterprise
- 9.5. By Vertical (USD)
- 9.5.1. BFSI
- 9.5.2. Healthcare
- 9.5.3. Government
- 9.5.4. Energy & Utilities
- 9.5.5. Manufacturing
- 9.5.6. Retail & Consumer Goods
- 9.5.7. Telecom & IT
- 9.5.8. Others (Transportation & Logistics, Construction, etc.)
- 9.6. By Country (USD)
- 9.6.1. GCC
- 9.6.2. South Africa
- 9.6.3. Rest of MEA
- 10. Asia Pacific Enterprise Governance, Risk & Compliance (eGRC) Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Component (USD)
- 10.2.1. Software
- 10.2.2. Services
- 10.3. By Deployment Model (USD)
- 10.3.1. Cloud-based
- 10.3.2. On premise
- 10.4. By Organization Size (USD)
- 10.4.1. Large Enterprise
- 10.4.2. Small & Medium business enterprise
- 10.5. By Vertical (USD)
- 10.5.1. BFSI
- 10.5.2. Healthcare
- 10.5.3. Government
- 10.5.4. Energy & Utilities
- 10.5.5. Manufacturing
- 10.5.6. Retail & Consumer Goods
- 10.5.7. Telecom & IT
- 10.5.8. Others (Transportation & Logistics, Construction, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.2. India
- 10.6.3. Japan
- 10.6.4. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. SAS Institute
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. IBM Corporation
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Microsoft Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. SAP SE
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Thomson Reuters Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Wolters Kluwer N.V.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. MetricStream Inc.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. BWise
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Infosys Limited
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Software AG
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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