Market Research Future published a research report on “eGRC Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
eGRC Market Overview
Enterprises and economies are becoming interrelated in this changing environment and giving rise to eGRC software and solution. Enterprise governance, risk, and compliance is a tactical discipline that allows organizations to identify and protect themselves against all possible risks, improving operations. Enterprise governance, risk, and compliance has several benefits upon deployment.
These benefits include reduction of costs, rationalizing controls, and identification of operational inefficiencies, among others. Such benefits are boosting the enterprise governance, risk, and compliance market. Moreover, a growing demand for corporate governance, regulatory requirements, and compliance is also supplementing the ascension of the global eGRC Market over the forecast period.
The global enterprise governance, risk, & compliance market is projected to reach a valuation of USD 48 billion by 2023, ascending at 13% CAGR. Organizations are feeling a higher need to increase their operational efficiency due to increasing competition and a need to not only retain their market position but also to expand and gain a competitive advantage over their peers. Such need has resulted in rapid adoption of the same, primarily driving the enterprise governance, risk and compliance market over the forecast period.
However, a variation in the regulatory policies in different countries is posing as a major challenge for market growth. Apart from that, the lack of awareness towards the advantages of eGRC and limited resources available to companies are other factors hampering market growth over the review period.
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The prominent players in the enterprise governance, risk, and compliance market are – Dell EMC (U.S.), SAS (U.S.), Oracle (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), MetricStream (U.S.), Resolver (UK), BWise (Netherlands), Resources Connection, Inc. (U.S.), among others.
Enterprise Governance, Risk, and Compliance Industry Segmentation
MRFR report provides an extensive segmental analysis of the enterprise governance risk compliance market on the basis of deployment model, component, end-user and organization size.
Based on component it is segmented into software and service. Software is further segmented into financial control management, risk management, compliance management, policy management and audit management. Of these, risk management will have the maximum share in the market. Service is further segmented into consulting, integration and support. Of these, consulting will lead the market.
Based on deployment model, the eGRC Market is segmented into on premise and cloud. Of these, cloud will dominate the market over the predicted years.
Based on organization size, it is segmented into large enterprise and small and medium sized enterprise. Of these, small and medium sized enterprise will have the maximum share in the market.
Based on end-user, the enterprise governance risk compliance market is segmented into government, education, manufacturing, healthcare, retail, IT and Telecom, transportation, energy and BFSI. Of these, BFSI will rule the market over the predicted years.
By region, the enterprise governance risk compliance market covers growth opportunities and latest trends across Americas, Rest of the World, Europe and Asia Pacific. Of these, North America will lead the market over the predicted years. This region has immense focus on risk management along with stringent regulations for compliance and risk management. The enterprise governance risk compliance market in Europe will have a positive growth in the market. Developing economies in the APAC region such as Japan, China and others are showing increasing use of EGRC systems. This region is predicted to have a sudden hike in the market over the predicted years.
TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
2.4.3 Market Crackdown & Data Triangulation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
4 Executive Summary
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
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