Global Market Study on Enterprise Governance, Risk and Compliance (eGRC): Efficient Business Data Security Features Boosting Demand for eGRC Solutions


Enterprise Governance Risk Compliance  Market
  • Published On : Jan-2020 |
  • Pages : 275 Pages |
  • Format : Enterprise Governance Risk Compliance  Market Enterprise Governance Risk Compliance  Market Enterprise Governance Risk Compliance  Market Enterprise Governance Risk Compliance  Market

Enterprise governance, risk and compliance (eGRC) management provides strong support for organizations, and gives opportunities to specialize in corporate compliance, financial services, health law, or security and cyber law. Enterprise governance, risk and compliance services assist clients in tackling broad issues of enterprise risk management, efficient corporate compliance, and corporate governance, while giving specialized support in crucial areas such as tax, financial reporting, information technology, anti-fraud, financial advisory, and human capital services.

The enterprise governance, risk and compliance market effectively manages, monitors, and defines external and internal business environments. Rising number of risk factors against business data is expected to increase the adoption of enterprise governance, risk and compliance solutions and security across all industries. Changing regulatory requirements and increasing business complexities are also expected to drive the growth of the enterprise governance, risk and compliance market. These also are used to provide better capital allocation, higher quality information to management, process optimization, protected reputation, improved effectiveness, and reduced costs for all industry verticals.

eGRC Solutions Offering Real-time Tracking  

Old-school enterprise governance, risk and compliance solutions have little capability to grow with ever-increasing manufacturing and business needs. As compared to these solutions, modern enterprise governance, risk and compliance solutions are scalable, flexible, and agile. These systems are worth their initial investments, as they provide a strong framework, due to which, one is able to eliminate needs to start from scratch when the business proliferates or the quality check process evolves over time. With the help of eGRC solutions, one can not only capture and accumulate real-time data while on the move, but can also give access to subsequent reports or data to anyone in the organisations. Thus, one can track quality on a mobile device, a factor that is driving the demand for enterprise governance, risk and compliance solutions across the globe.

Growing Cyber Security Issues in Automotive Industry to Spur eGRC Market Growth

Nowadays, eGRC solutions are managing vehicle warranty, vehicle recall, and litigation risk for automotive suppliers, which, in turn, is driving growth of the enterprise governance, risk and compliance market. The governance, risk and compliance market is dealing with top labor and employment issues faced in the automotive industry. The need for solving connected cars and cyber security issues in the automobile industry is propelling the demand for enterprise governance, risk and compliance solutions. These solutions support an organization’s risk management processes, which includes internal audit, internal control, business continuity, vendor/3rd party management, information security, enterprise and operational risk management.

High Implementation Cost Restricting Market Growth

Various organizations are hesitant to invest on enterprise governance, risk and compliance technology in emerging markets due to high capital investment and lack of awareness about the long-term benefits of implementing enterprise governance, risk and compliance to solution providers and other operational processes. Furthermore, weak government funding for industrial research, lack of technological roadmap, no clear vision for investment communities, and absence of national strategy for enterprise governance, risk and compliance solutions are some of the key factors that are expected to hamper the growth of the eGRC market.

North America Dominating Global Enterprise Governance, Risk and Compliance Market

North America is expected to be the dominating region in terms of value for enterprise governance, risk and compliance solutions. In the coming years, Canada is expected to be one of the key regions for sustainable revenue generation from eGRC solution implementation, owing to the rising need for identifying enterprise risk and compliance management in insurance companies’ applications. Moreover, Western Europe is estimated to record significant growth during the forecast period, owing to the increasing adoption of enterprise governance, risk and compliance solutions in small and medium enterprises in the region.

Analysts’ Viewpoint of eGRC Market

A comprehensive view of the enterprise governance, risk and compliance market has led our analysts to conclude that, the market is growing at a remarkable rate. The eGRC market in Asia Pacific excluding Japan is anticipated to grow at a significant rate during the forecast period. Strategic partnerships with other enterprise governance, risk and compliance providers and regional expansions are some of the key strategies being adopted by prominent players to push their sales growth. Strong financial position and new technological innovations of key market players will also give added momentum to the growth of the enterprise governance, risk and compliance market in the coming years.

Persistence Market Research (PMR) recently published a new research analysis on the enterprise governance, risk and compliance (eGRC) market for the assessment period of 2019-2029. The research study on the enterprise governance, risk and compliance market offers a close look at the evolving aspects of the enterprise governance, risk and compliance market, as well as the dynamics impacting market growth. The research study focuses on key developments that have made their mark in the enterprise governance, risk and compliance market, and other developments that are on the cards. The report talks about various macro- and microeconomic factors responsible for having an in-depth impact on the growth of the enterprise governance, risk and compliance market.

A direct market overview provides the growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the enterprise governance, risk and compliance market during the forecast period. This report includes detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.

Several stakeholders in the enterprise governance, risk and compliance market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the enterprise governance, risk and compliance market report also helps new market entrants expand their bases in the eGRC market.

The report elaborates the historical and current trends molding the growth of the enterprise governance, risk and compliance market. The performance journey of the enterprise governance, risk and compliance market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the enterprise governance, risk and compliance market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Enterprise Governance, Risk and Compliance Market: Segmentation

PMR’s research study on the global enterprise governance, risk and compliance market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the eGRC market has been offered on the basis of solution, organization size, vertical, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Solution

Organisation Size

Vertical

Region

Software

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

Large Enterprises

Aerospace & Defense

North America

Services

  • Consulting
  • Integration & Implementation
  • Support & Maintenance

Medium Enterprises

Automotive

Latin America

Small Enterprises

Consumer Goods & Retail

Western Europe

Healthcare & Life Science

Eastern Europe

ITES & Telecom

Asia Pacific Excluding Japan

Others

Japan

Middle East and Africa

eGRC Market: Key Questions Answered in Report

The research study on the enterprise governance, risk and compliance market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Insights offered in the enterprise governance, risk and compliance report answer some of the most salient questions that assist the stakeholders in gauging all the emerging possibilities.

  • How has the rapidly changing business environment turned into a major growth engine for the enterprise governance, risk and compliance market?
  • How is ensuring compliance with industry regulations boosting the enterprise governance, risk and compliance market?
  • What are the key trends that are constantly shaping the growth of the enterprise governance, risk and compliance market?
  • Which are the prominent regions offering plentiful opportunities for the enterprise governance, risk and compliance market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global eGRC market share?

Enterprise Governance, Risk and Compliance Market: Research Methodology

A unique and promising research methodology forms the base of the enterprise governance, risk and compliance market during the forecast period. The report has been prepared after a comprehensive analysis of the market happenings and then riveting insights have been compiled meticulously. The research methodology of the enterprise governance, risk and compliance market has been a two-step process that comprises of primary and secondary research. Key stakeholders, which include enterprise governance, risk and compliance manufacturers, suppliers, and distributors, have been interviewed and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner the report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Enterprise Governance Risk Compliance Market Report

  • Dell EMC 
  • FIS
  • HCL Technologies Limited
  • IBM Corporation
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Software AG
  • THOMSON REUTERS
  • Wolters Kluwer
  • RSA Security LLC.
  • MetricStream Inc.
  • PwC
  • SAI Global Pty Limited
  • MITRATECH

Enterprise Governance Risk Compliance Market

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