Latest News- Enterprise Governance, Risk, And Compliance (Egrc) Solutions Market: Large enterpises expected to lead the End-user segment during 2025-2029

The Enterprise Governance, Risk, And Compliance (Egrc) Solutions Market is being driven by Increased need to comply with regulatory requirements

The Enterprise Governance, Risk, And Compliance (Egrc) Solutions Market is expected to grow at a CAGR of 15.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 40240.3 million. In the realm of enterprise governance, risk, and compliance (eGRC), the adoption of modern technologies such as mobile, big data, social media, and cloud computing plays a pivotal role. The eGRC solutions market is evolving, with a growing emphasis on enhancing business performance beyond mere compliance. Cloud computing, specifically, is revolutionizing eGRC by offering centralized administration and control, SLA-backed agreements, and company-managed infrastructure. This technology eliminates the need for users to maintain and update IT infrastructure for data storage, streamlining compliance processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Large enterpises
  • SMEs
• Component
  • Software
  • Services
• Deployment
  • Cloud-based
  • On-premises
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • 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
• Growing demand for eGRC software from various industries
• Integration of AI and automation in eGRC process

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

• Increasing data privacy and security concerns
• High cost of implementation and maintenance of eGRC solutions
• High complexity of eGRC solutions

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Market Scope in Enterprise Governance, Risk, And Compliance (Egrc) Solutions Market Research Report

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Research Analysis Overview

The Enterprise Governance, Risk, and Compliance (EGRC) Solutions Market encompasses a range of offerings designed to help organizations manage and mitigate risks, ensure compliance, and establish effective governance. Key components include risk mitigation strategies, compliance monitoring, governance maturity models, data security controls, threat intelligence, access control lists, vulnerability management, policy compliance, risk scoring, incident management, business impact analysis, disaster recovery testing, security awareness training, data breach response, information security, risk reporting dashboards, audit trails, regulatory updates, compliance training, process automation, risk culture, control effectiveness, key performance indicators, continuous monitoring, integrated risk management, internal controls, fraud prevention, data classification, data encryption, access reviews, and more. These solutions enable organizations to strengthen their security posture, enhance compliance adherence, and foster a risk-aware culture.

Market Research Overview

The Enterprise Governance, Risk, and Compliance (EGRC) solutions market is a segment of the global IT software industry, focusing on risk assessment tools, compliance automation, and governance frameworks. This market caters to businesses seeking to manage and mitigate risks, ensure regulatory compliance, and establish effective governance structures. Technavio's market analysis covers companies providing EGRC solutions, including cloud-based offerings. These organizations contribute to the global IT software market, which encompasses application, system, and database management software providers. The application software market specifically includes enterprise and technical software firms, excluding those engaged in interactive home entertainment or systems software production. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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