Latest News- Governance Risk And Compliance (GRC) Platform Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Governance Risk And Compliance (GRC) Platform Market is being driven by Increased need to comply with regulatory requirements

The Governance Risk And Compliance (GRC) Platform Market is expected to grow at a CAGR of 14.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 44224.6 million. In the evolving Governance Risk and Compliance (GRC) Platform Market, the adoption of modern technologies such as mobile solutions, big data analytics, social media, and cloud computing plays a pivotal role. These advanced technologies enable more effective GRC strategies, moving the focus from mere compliance towards enhanced business performance. Cloud computing, in particular, streamlines compliance execution through centralized administration and control, SLA-backed agreements, and outsourced infrastructure management. By eliminating the need for users to maintain and update IT infrastructure, cloud computing offers access to services and applications without requiring additional software installations. 

Get more information on Governance Risk And Compliance (GRC) Platform Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• Component
  • Software
  • Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased need to comply with regulatory requirements
• Exponential growth in corporate data
• Quick and easy deployment of GRC policies

However, the market also witnesses some limitations, which are as follows:

• Increasing data security concerns
• System integration issues for cloud-based and on-premises GRC solutions
• Lack of transparent service level agreements

Benefits of Buying Global Governance Risk And Compliance (GRC) Platform Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Governance Risk And Compliance (GRC) Platform Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Governance Risk and Compliance (GRC) Platform Market encompasses software solutions designed to help managers oversee business processes, mitigate risks, and ensure compliance with changing regulatory requirements in the face of social media governance challenges, cyber threats, and intellectual property protection. These platforms offer risk management and compliance solutions, including Azure Purview and Oracle's eGRC suite, to financial institutions, IT, telecom, and other industries. High implementation expenses and complex technology integration are challenges, but AI and machine learning are driving innovation. Costs increase due to compliance requirements, globalization, and cybersecurity concerns. Social media governance, cyberthreats, and intellectual property protection are critical areas of focus. Businesses must navigate a complex regulatory environment and ensure technology integration to stay compliant. Microsoft Azure Purview and MetricStream are key players in this market.

Market Research Overview

In the dynamic business landscape, effective Governance, Risk, and Compliance (GRC) is essential for organizations to mitigate risks, ensure regulatory compliance, and protect intellectual property. The GRC platform market, a segment of the global IT software industry, caters to businesses seeking integrated solutions for managing risks, social media governance, cyberthreats, and changing regulatory environments. This market includes providers of IT management software, security software, and networking software, among others. Technavio's market analysis calculates the market size based on the combined revenue generated by these companies offering various types of systems software, including cloud-based solutions. By investing in robust GRC platforms, businesses can streamline processes, minimize costs, and maintain a competitive edge in the face of evolving risks and regulatory requirements.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/