DUBLIN--(BUSINESS WIRE)--The "Enterprise Governance, Risk and Compliance (EGRC) Market Analysis Report By Component, By Software, By Service (Integration, Consulting, Support), By Enterprise Type, By Vertical, And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global enterprise governance, risk and compliance market size is expected to reach USD 64.62 billion by 2025 and is anticipated to exhibit a CAGR of 12.9% over the forecast period.
Implementation of stringent regulations by governments across various verticals such as BFSI, telecom/IT, retail, and consumer goods has necessitated organizations to adopt enterprise Governance, Risk and Compliance (GRC) solutions that fulfil the need for compliance, audit, and risk management, among others.
For instance, in recent years, banks have spent aggressively to ensure compliance to enforcement of stringent laws. Some of the laws and regulations include the Dodd-Frank Act, BASEL III, Sarbanes-Oxley Act, Payment Card Industry Data Security Standard (PCI DSS), and Gramm-Leach-Bliley Act (GLBA). Moreover, in this challenging ecosystem, an integrated approach to GRC translates into bottom-line financial benefits for enterprises, which is anticipated to be a major factor driving market growth.
Enterprise governance, risk and compliance is vital for all industry verticals. However, many organizations in BFSI, telecom, and manufacturing service industries are confronting significant losses as they have deployed systems that lack a holistic view of enterprise risks. They have, however, eventually started to realize that their financial processes are inefficient and the enterprise risk management initiatives they have undertaken are incompetent in view of the growing mandates for regulatory compliance. At the same time, the regulatory and corporate governance scenario is evolving continuously, thereby prompting such services and institutions to roll out a culture that emphasizes standard business practices and balanced risk-taking.
In recent years, need for compliance management software has grown at a significant rate, which can be credited to the advent of myriad regulations by government bodies across various industries. Enterprises that deliver GRC software are collaborating with various public as well as private organizations for developing and implementing software that can minimize damage caused by various risks within the business.
BFSI sector accounted for a significant market share of over 20.0% in the enterprise GRC market in 2018. The financial sector has become more strategic and cautious, realizing the significance of identifying and mitigating the risks of doing business with corrupt and criminal entities. As a result, large organizations as well as Small and Medium Enterprises (SMEs) are increasingly looking to invest in compliance solutions.
Enterprise GRC software accounted for the largest revenue share based on component in 2018 and is anticipated to maintain its dominance over the forecast period. Implementation of EGRC software helps organizations improve performance, gain visibility, and reduce compliance and risks costs. The services segment is expected to witness a healthy CAGR over the forecast period, attributed to the development of advisory, integration, and software-as-service solutions, which have paved the way for improved performance and implementation.
Further key findings from the report suggest:
- Risk management emerged as the largest software segment in 2018 and is estimated to exhibit steady growth through 2025
- Demand for EGRC solutions in policy management is anticipated to witness significant growth over the next few years
- The large enterprise segment in U.S. has been generating significant revenue in the global market and is projected to continue to do so throughout the course of the forecast period
- Asia Pacific is projected to witness substantial growth over the next decade, owing to various developments across major economies, especially in Internet of Things (IoT) and big data
- Key players operating in the Enterprise Governance, Risk and Compliance market include SAP SE, Thomson Reuters, Wolters Kluwer, MetricStream Inc., and Bwise.
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope and Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Enterprise governance, risk and compliance - Market snapshot and key buying criteria, 2015 - 2025
2.2 Global enterprise governance, risk, and compliance market, 2015 - 2025 (USD Million)
2.3 Global enterprise governance, risk and compliance market by region, 2015 - 2025 (USD Million)
2.4 Global enterprise governance, risk and compliance market by component, 2015 - 2025 (USD Million)
2.5 Global enterprise governance, risk and compliance market, by software 2015 - 2025 (USD Million)
2.6 Global enterprise governance, risk and compliance market, by services 2015 - 2025 (USD Million)
2.7 Global enterprise governance, risk and compliance market, by enterprise type, 2015 - 2025 (USD Million)
2.8 Global enterprise governance, risk and compliance market, by vertical 2015 - 2025 (USD Million)
Chapter 3 Enterprise Governance, Risk And Compliance Industry Outlook
3.1 Market Segmentation
3.2 Enterprise governance, risk and compliance - Market Size and Growth Prospects
3.3 Enterprise governance, risk and compliance - Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Obligatory implementation of GRC solutions in enterprises
3.4.1.2 Increasing adoption of big data and IoT in GRC solutions
3.4.2 Market restraint analysis
3.4.2.1 Cyber security and third-party risks
3.5 Industry Analysis - Porter's
3.6 Penetration and Growth Prospect Mapping
3.7 Enterprise governance, risk, and compliance - Key Company Analysis, 2017
3.8 Enterprise Governance, Risk and Compliance market - PEST Analysis
Chapter 4 Enterprise Governance, Risk And Compliance Market: Component Estimates and Trend Analysis
4.1 EGRC Market: Component Movement Analysis
4.1.1 Software market estimates and forecasts, 2015 - 2025 (USD Million)
4.1.2 Services market estimates and forecasts, 2015 - 2025 (USD Million)
Chapter 5 Enterprise Governance, Risk And Compliance Market: Software Estimates and Trend Analysis
5.1 EGRC Market: Software Movement Analysis
5.1.1 Audit Management market estimates and forecasts, 2015 - 2025 (USD Million)
5.1.2 Compliance Management market estimates and forecasts, 2015 - 2025 (USD Million)
5.1.3 Risk Management market estimates and forecasts, 2015 - 2025 (USD Million)
5.1.4 Policy Management market estimates and forecasts, 2015 - 2025 (USD Million)
5.1.5 Incident Management market estimates and forecasts, 2015 - 2025 (USD Million)
5.1.6 Others market estimates and forecasts, 2015 - 2025 (USD Million)
Chapter 6 Enterprise Governance, Risk And Compliance Market: Services Estimates and Trend Analysis
6.1 EGRC Market: Services Movement Analysis
6.1.1 Integration market estimates and forecasts, 2015 - 2025 (USD Million)
6.1.2 Consulting market estimates and forecasts, 2015 - 2025 (USD Million)
6.1.3 Support market estimates and forecasts, 2015 - 2025 (USD Million)
Chapter 7 Enterprise Governance, Risk And Compliance Market: Enterprise Type Estimates and Trend Analysis
7.1 EGRC Market: Enterprise Movement Analysis
7.1.1 Small and Medium Enterprise market estimates and forecasts, 2015 - 2025 (USD Million)
7.1.2 Large Enterprise market estimates and forecasts, 2015 - 2025 (USD Million)
Chapter 8 Enterprise Governance, Risk And Compliance Market: Vertical Estimates and Trend Analysis
8.1 EGRC Market: Vertical Movement Analysis
8.1.1 BFSI market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.2 Construction & Engineering market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.3 Energy & Utilities market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.4 Government market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.5 Healthcare market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.6 Manufacturing market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.7 Retail & consumer goods market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.8 Telecom & IT market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.9 Transportation & Logistics market estimates and forecasts, 2015 - 2025 (USD Million)
8.1.10 Others market estimates and forecasts, 2015 - 2025 (USD Million)
Chapter 9 Enterprise Governance, Risk And Compliance Market: Regional Estimates and Trend Analysis
Chapter 10 Competitive Landscape
- BWise
- Dell EMC
- Fidelity National Information Services, Inc. (FIS)
- IBM Corporation
- Maclear
- MetricStream, Inc.
- Microsoft Corporation
- Modulo Security, LLC.
- Oracle Corporation
- SAP SE
- SAS Institute, Inc.
- Thomson Reuters
- Wolters Kluwer
- Software AG
For more information about this report visit https://www.researchandmarkets.com/r/49vztl
