Latest News- Enterprise Governance, Risk, And Compliance (EGRC) Solutions Market: Large enterpises is 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 is crucial for advanced platforms. The global eGRC solutions market is transitioning from a compliance-centric approach to one focused on enhancing business performance. Cloud computing technology significantly simplifies compliance execution in eGRC solutions. It offers centralized administration and control, SLAs, and infrastructure management, obviating the need for users to maintain and update IT infrastructure for data storage. 

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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 technologies and services, including GRC software solutions, risk scoring models, compliance dashboards, regulatory technology, information security management, incident management processes, risk register management, key risk indicators, control self-assessment, IT general controls, data breach response, security awareness training, risk appetite frameworks, business impact analysis, disaster recovery planning, IT risk management, data classification standards, access control matrices, security audits, compliance reporting, policy enforcement, risk registers, continuous monitoring, vulnerability scanning, and security incident management. These solutions help organizations manage and mitigate risks, ensure compliance with regulations, and maintain robust information security.

Market Research Overview

The Enterprise Governance, Risk, and Compliance (EGRC) Solutions Market is a segment of the larger IT software industry, focusing on risk management software, compliance automation tools, and governance frameworks implementation. This market is a subset of the application software sector, which encompasses businesses producing specialized business software, including enterprise and technical applications, as well as cloud-based solutions. According to Technavio, the global IT software market size is determined by the consolidated revenue of all IT software providers, including those offering EGRC solutions. These companies contribute significantly to the application software market, which excludes interactive home entertainment software and systems or database management software providers.. 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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Website: www.technavio.com/