Worldwide Security Governance, Risk, and Compliance Services Forecast, 2024–2028

Worldwide Security Governance, Risk, and Compliance Services Forecast, 2024–2028


This IDC study presents a five-year forecast and contains IDC's best estimate for the governance, risk, and compliance professional services market for the 2023–2028 period. In addition, this study discusses the drivers and dynamics that had an impact on the global security governance, risk, and compliance professional services market in 2022 and provides insight into future trends that may influence market demand over the 2023–2028 period."GRC services continue to be a top investment area for organizations," says Phil Harris, research director, Governance, Risk, and Compliance, IDC. "Both IT and the business are gaining clarity about the ever-changing cyberattack environment and the critical impact to the viability of their organizations and need to continue to prioritize cybersecurity as a mandate and keep senior management and the board informed as to the status of the program. While the overall cybersecurity GRC market has experienced strong growth over the past several years and while budgets are tightening, organizations continue to see value in these services and solutions, which is evidenced in continued investment. CISOs must step up their game in executive and board settings to engage them in constructive dialog that has them become contributors to the direction of cybersecurity rather than passively listening."

Please Note: Extended description available upon request.


IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Worldwide Security Governance, Risk, and Compliance Services
Worldwide Security Governance, Risk, and Compliance Professional Services
Worldwide Security Governance, Risk, and Compliance Systems Integration Revenue, 2023–2028
Worldwide Security Governance, Risk, and Compliance Education and Deployment, 2023–2028
Worldwide Security Governance, Risk, and Compliance Services Revenue by Region, 2023 and 2028
U.S. Security Governance, Risk, and Compliance Services Revenue, 2023 and 2028
Market Context
Drivers and Inhibitors
Drivers
Risk Quantification Capabilities Are Now Possible as Normal Components of Risk Management Programs
Artificial Intelligence and Cybersecurity
Continuous Compliance
Inhibitors
Lack of Cybersecurity Professionals
Government Legislation Increases
Significant Market Developments
Cybersecurity Programs Becoming a Top Priority
Expansion
Increasing Focus on Internal and External Risk
Partnerships
Changes from Prior Forecast
Market Definition
Professional Services
Education and Deployment
Software
Managed Services
Methodology
Related Research

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