Enterprise Governance, Risk and Compliance (EGRC) Market Segmentation (By Software Type - Audit Management, Risk Management, Business Continuity, Compliance and Policy Management, Information Security and Data Management, Regulatory Change Management; By Deployment Type - Cloud-based deployment, On-premise deployment; By Organization Type - Large Enterprise, Medium Enterprise, Small Enterprise; By Application Type - Aerospace and Defense, Automotive, Consumer Goods and Retail, Healthcare and Life Sciences, ITES and Telecom, Other Industries) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2026

Persistence Market Research presents a comprehensive analysis of the global enterprise governance, risk and compliance (EGRC) market in a new publication titled ‘Enterprise Governance, Risk and Compliance (EGRC) Market: Global Industry Analysis and Forecast, 2016-2024’. In this report, Persistence Market Research has focused on offering detailed insights and in-depth research on the global enterprise governance, risk and compliance (EGRC) market over a 10 year forecast period 2016 – 2026. The report covers the important factors driving the expansion of the global enterprise governance, risk and compliance (EGRC) market, untapped opportunities for market players in this field, trends and developments shaping the dynamics of the global enterprise governance, risk and compliance (EGRC) market and other insights across various key segments. In addition, the report highlights the key drivers and restraints affecting the development of the global enterprise governance, risk and compliance (EGRC) market. Changing trends are also analyzed and incorporated in the report to equip the reader with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the performance of the global enterprise governance, risk and compliance (EGRC) market are also incorporated in the report.         

Report Description

This report by Persistence Market Research on the global enterprise governance, risk and compliance (EGRC) market for the period 2016–2024 presents an outlook of the market across the globe. The primary objective of the report is to offer updates on market opportunities in the global enterprise governance, risk and compliance (EGRC) market. The report is categorically divided into five sections namely – by software type, deployment type, by organization, by application, and by region to understand and offer insights on the global enterprise governance, risk and compliance (EGRC) market. The report provides analysis of the global enterprise governance, risk and compliance (EGRC) market in terms of market value (US$ Mn).

The report starts with an overview of the global enterprise governance, risk and compliance (EGRC) market which includes market description and taxonomy. Moreover, the market definition, market size, market value share, current market scenario and future market outlook are also included in this section.  Thereafter, Persistence Market Research’s analyses of key trends, opportunities, drivers and restraints from the supply and demand perspectives are included.

Market Segmentation

By Software Type

• Audit Management
• Risk Management
• Business Continuity
• Compliance and Policy Management
• Information Security and Data Management
• Regulatory Change Management

By Deployment Type

• Cloud-based deployment
• On-premise deployment

By Organization Type

• Large Enterprise
• Medium Enterprise
• Small Enterprise

By Application Type

• Aerospace and Defense
• Automotive
• Consumer Goods and Retail
• Healthcare and Life Sciences
• ITES and Telecom
• Other Industries

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan
• Japan
• Middle East & Africa

In the final section of the report, the global enterprise governance, risk and compliance (EGRC) market competitive landscape is included to provide report audiences with a dashboard view of the market players, based on categories of providers across the value chain, their presence in the enterprise governance, risk and compliance (EGRC) portfolio and key differentiators. Moreover, the company share analysis of the top 10 companies in the global enterprise governance, risk and compliance (EGRC) market is included in the report.

Research Methodology

To deduce the market size, the report considers the various factors that impact global IT expenditure. Weightage is given to these factors and study of the top 10 companies and their market share in the global enterprise governance, risk and compliance (EGRC) market. Furthermore, data points such as regional split and market split by software type, deployment type, organization, and application are analyzed and qualitative inputs from primary respondents have been incorporated to arrive at suitable market estimates. The forecast presented in the report evaluates the total revenue that is expected to be generated across the global enterprise governance, risk and compliance (EGRC) market over forecast period (2016–2024). When developing the market forecast, the starting point involves sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape during the forecast period. Given the characteristics of the market, Persistence Market Research has triangulated the data on the basis of various analysis based on both supply side and demand side. The report not only conducts forecasts in terms of CAGR, but also analyzes the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the global enterprise governance, risk and compliance (EGRC) market.

As previously highlighted, the market for enterprise governance, risk and compliance (EGRC) is split into various segments. All these segments have been analyzed in terms of Basis Point Share (BPS) to understand segmental contribution to market growth. This detailed level of information is important for identification of many key trends in the global enterprise governance, risk and compliance (EGRC) market. Another key feature of this report is the analysis of the global enterprise governance, risk and compliance (EGRC) market by software type, deployment type, organization, application, and region and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global enterprise governance, risk and compliance (EGRC) market. Further, in order to understand key market segments in terms of their growth and performance in the global enterprise governance, risk and compliance (EGRC) market, Persistence Market Research has developed a unique market attractiveness index to help providers identify real market opportunities.

Enterprise, Governance, Risk and Compliance (EGRC) is a multifaceted and innovative approach where the concerns related to corporate governance, risk management and compliance issues are seen as integrated, aligned and closely related strategic activities with a direct impact on business objectives. The main factor that is responsible for the emergence of EGRC as a business imperative in the organization is a growing demand for corporate governance, regulatory requirements and compliance. Also, a holistic approach to risk management is required with a more complex risk environment. Enterprise, Governance, Risk and Compliance (EGRC) consists of different types of software such as audit management, risk management, business continuity, compliance & policy management, information security and data management, and regulatory change management. Moreover, it also includes enterprise risk assessment, financial and IT GRC, financial control management etc.

The global enterprise governance, risk and compliance (EGRC) market is estimated to reach a market valuation of nearly US$ 16 Bn in 2017 and is expected to be valued at nearly US$ 30 Bn by 2026, projecting a CAGR of 7.1% over the forecast period. 

Factors boosting revenue growth of the enterprise governance, risk and compliance (EGRC) market

Rising threats amongst organizations owing to digitalization and sharing of vast data across the globe has led to different forms of threats and attacks. Cyber security threat is one of the key drivers for EGRC software adoption. The biggest growth is seen in enterprise application development by utilizing the agility and cost-effective attributes of cloud technology. Moreover, the EGRC platform is not only reliable but also helps in making the data efficient across multiple business units. Transparency among business units and free flow of data is a key imperative for organizations. The need for enterprise wide risk management systems to promote transparency and avoid risks is driving the global enterprise governance, risk and compliance (EGRC) market. Rising need for efficiency in financial assessment and cost saving solutions is anticipated to drive market growth in the near future.

Trends: North American Life Sciences Industry

Being the dominant market for the life sciences industry, there is high competition among the top life sciences industry players across North America. Players across the region are competing to enhance their ability to deliver new and advanced products in the market without time-to-market being impacted by regulatory compliance, which in turn encourages them to deploy automatic enterprise, risk, and compliance management solutions. These solutions help providers ensure that their products meet client expectations as well as comply with industry regulations.

Global Enterprise Governance, Risk, and Compliance Market Attractiveness Analysis, by Application Type

The Aerospace and Defense application segment is expected to register a CAGR of 5.3% over the forecast period and account for 4.2% value share and be valued at nearly US$ 1.5 Bn by 2026 end. The Automotive segment is forecast to register a CAGR of 6.6% over the projected period and account for 4.3% value share and be valued at nearly US$ 1.5 Bn by 2026 end. The Consumer Goods and Retail segment is estimated to account for a value share of 4.2% and is expected to be valued at nearly US$ 1.6 Bn by 2026 end. The Healthcare and Life Sciences segment is anticipated to register a CAGR of 7.8% over the forecast period and account for 65.9% value share of the global EGRC market, reaching a market valuation of nearly US$ 20 Bn by 2026 end. The ITES and Telecom segment is estimated to account for a value share of 13.5% of the global EGRC market and is expected to be valued at nearly US$ 4 Bn by 2026 end.

New solutions in EGRC are driving technology in key applications

Growing demand for the valuation navigator solution, which helps in rapid automation and customization of data coupled with continuous adoption of cloud-based quality management solutions among companies to reduce their infrastructure and resources (IT personnel) costs, while at the same time allowing them access to all features as offered by on-premise software are major trends expected to be witnessed in the global EGRC market over the forecast period. Moreover, growing use of risk analytics in organizations to support the integration of risk management and also enhance the performance management of employees and the organization is likely to lead to significant growth in terms of demand for cloud-based solutions over the forecast period.

Company Profiles

• SAP SE
• International Business Machines Corporation
• Dell Inc.
• Wolters Kluwer N.V.
• Oracle Corporation
• Metric Stream,Inc.
• Deloitte Touche Tohmatsu Limited 
• Fidelity National Information Services, Inc.(FIS)
• Thomson Reuters Corporation
• SAI Global Limited
• Others