Latest News- Enterprise Governance, Risk, And Compliance (EGRC) Solutions Market: Large enterpise is expected to lead the End-user segment during 2024-2028

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 15.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 33732.3 million. In today's business landscape, advanced enterprise governance, risk, and compliance (eGRC) solutions are essential for organizations to ensure regulatory compliance and enhance overall business performance. New-generation technologies, including mobile, big data, social media, and cloud computing, play a crucial role in enabling effective eGRC platforms. Among these technologies, cloud computing has revolutionized the eGRC solutions market by simplifying compliance execution through centralized administration and control, SLAs, and vendor-managed infrastructure. By eliminating the need for on-premises IT infrastructure maintenance and updates, cloud computing offers significant cost savings and agility for businesses. 

Get more information on Enterprise Governance, Risk, And Compliance (EGRC) Solutions Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Large enterpise
  • SME
• Component
  • Software
  • Service
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
  • 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

Benefits of Buying Global Enterprise Governance, Risk, And Compliance (EGRC) Solutions 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 Enterprise Governance, Risk, And Compliance (EGRC) Solutions Market Research Report

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

Research Analysis Overview

The Enterprise Governance, Risk, and Compliance (EGRC) Solutions Market encompasses a range of offerings designed to help businesses manage and mitigate risk, ensure compliance, and maintain effective governance. Key components include Risk Appetite and Tolerance assessment, Control Self-Assessment, Risk Register, Compliance Calendar, Compliance Tracking, and Audit. Additionally, solutions provide for Incident Response, Data Classification and Retention, Archiving, Masking, Anonymization, Leakage Prevention, Security Awareness Training, Penetration Testing, Vulnerability Scanning, Log Management, Security Monitoring, Threat Intelligence, Mobile EGRC, and various Integrations.

Market Research Overview

The Enterprise Governance, Risk, and Compliance (EGRC) Solutions market encompasses specialized software and frameworks designed to help businesses manage and mitigate risks, ensure regulatory compliance, and oversee governance processes. This market includes providers of GRC software, risk management solutions, compliance management systems, governance management tools, data privacy software, and third-party risk management platforms. Technavio's market analysis calculates the global size of the EGRC Solutions market by aggregating the revenues of companies offering these solutions, including cloud-based offerings. This market segment falls under the broader application software market, which covers business-focused software development and production, excluding database management software, interactive home entertainment, and systems software.. 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/