HOME Top Market Reports Enterprise Governance, Risk, and Compliance (eGRC) Market by Component (Software (Type & Usage), Service), Deployment Model (Cloud & On-Premise), Organization Size, Business Function (Finance, IT, Legal, & Operations), & Vertical - Global Forecast to 2021

Enterprise Governance, Risk, and Compliance (eGRC) Market by Component (Software (Type & Usage), Service), Deployment Model (Cloud & On-Premise), Organization Size, Business Function (Finance, IT, Legal, & Operations), & Vertical - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: July 2016
Report Code: TC 2195

 

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The Enterprise Governance, Risk, and Compliance (eGRC) market size is estimated to grow from USD 19.42 Billion in 2016 to USD 38.00 Billion by 2021, at a CAGR of 14.4%. The eGRC market has potential scope for growth in the years to come due to an increasing number of industries that need to avoid non-compliance with corporate and government regulations. Growing business partnerships and associations, increasing government regulations and compliance mandates, and the need for operational efficiency with reduced cost are some of the major driving factors for the market. The base year considered for the study is 2015 and the forecast period has been considered from 2016 to 2021. The objective of the study has been carried out to define, describe, and forecast the global enterprise governance, risk, and compliance market on the basis of software, services, deployment mode, organization size, business function, verticals, and regions; and to analyze the opportunities in the market for the stakeholders and details of a competitive landscape for the market leaders.

The research methodology used to estimate and forecast the eGRC market begins with the collection and analysis of data on key vendor revenues through secondary research. The vendors’ software solution and service offerings are also analyzed to determine the market segmentation. The bottom-up procedure is used to arrive at the total market size of the global enterprise governance, risk, and compliance market from the revenue of key players in the market. After estimating the total market size, it is split into the segments and sub segments, which are then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. This data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the accurate statistics for all segments and sub-segments. The breakdown of profiles of primary is depicted in the below figure:

Enterprise Governance, Risk and Compliance Market

To know about the assumptions considered for the study, download the pdf brochure

The eGRC market ecosystem comprises eGRC solution vendors such as IBM, Microsoft, Oracle, and SAP SE; software vendors such as SAI Global, MetricStream, SAP SE, and BWise; and consulting service providers such as Deloitte, Modulo, and Fidelity National Information Services.

Target Audience

  • eGRC solution and service providers
  • Governance, Risk Management, Compliance (GRC) staff
  • IT governance directors/managers
  • IT risk directors/managers
  • IT compliance directors/managers
  • IT audit directors/managers
  • Information security directors/managers
  • IT directors/consultants
  • End users/consumers/enterprise users
  • Government organizations
  • Consultants/advisory firms
  • System integrators and resellers
  • Training and education service providers
  • Managed service providers

Scope of the Report

The research report segments the enterprise governance, risk, and compliance market into the following segments:

By Component:

  • Software
  • Service

By Software

  • Audit Management
  •  Business Continuity Management
  • Incident and Risk Management
  • Risk Assessment (Threat and Vulnerability Analysis)
  • Compliance and Policy Management
  • Financial Control Management
  • Information Security and Data Management

By Service:

  • Consulting And Training
  • Integration
  • Support

By Deployment Model:

  • Cloud
  • On-Premise

By Organization Size:

  • Small and Medium Businesses (SMBs)
  • Large Enterprises

By Usage:

  • Internal
  • External

By Business Function:

  • Finance
  • IT
  • Legal
  • Operations

By Industry Vertical:

  • BFSI
  • Construction And Engineering
  • Energy And Utility
  • Government
  • Healthcare
  • Manufacturing
  • Mining And Natural Resources
  • Retail And Consumer Goods
  • Telecom And IT
  • Transportation And Logistics
  • Others

By Region:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East And Africa (MEA)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of the APAC market into Australia, India, and China
  • Further breakdown of the North America market into the U.S. and others.
  • Further breakdown of the MEA market into Gulf Cooperation Council (GCC), Turkey and others.

Company Information

  • Detailed analysis and profiling of additional market players (Up to 5)

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders
    1.7 Key Take-Aways

2 Research Methodology (Page No. - 24)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
           2.3.1 Research Assumptions

3 Executive Summary (Page No. - 33)

4 Enterprise Governance, Risk, and Compliance Market: Premium Insights (Page No. - 39)
    4.1 Attractive Market Opportunities in the Market
    4.2 Market Top Three Software Segments
    4.3 Market Analysis Across Top Three Regions and Verticals in 2016
    4.4 Market North America is Expected to Showcase the Highest Adoption During the Forecast Period
    4.5 Life Cycle Analysis, By Region

5 Enterprise Governance, Risk, and Compliance Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 Market By Component
                    5.3.1.1 Market By Software
                    5.3.1.2 Market By Service
           5.3.2 Market By Deployment Model
           5.3.3 Market By Organization Size
           5.3.4 Market By Business Function
           5.3.5 Market By Vertical
           5.3.6 Market By Region
    5.4 Market Dynamic
           5.4.1 Drivers
                    5.4.1.1 Growing Business Partnerships and Associations
                    5.4.1.2 Government Regulations and Compliance Mandates
                    5.4.1.3 Increased Operational Efficiency and Reduced Costs
           5.4.2 Restraints
                    5.4.2.1 Varying Structure of Regulatory Policies
                    5.4.2.2 Limited Resources and Awareness Within Organizations
           5.4.3 Opportunities
                    5.4.3.1 Compliance Investments and Rise of the Software-Enabled Business
           5.4.4 Challenges
                    5.4.4.1 Growing Complexity of Risk and Compliance Programs
                    5.4.4.2 Complexities Related to Governing Security Across Byod and Cloud Platforms

6 Enterprise Governance, Risk, and Compliance Market: Industry Trends (Page No. - 55)
    6.1 Introduction
           6.1.1 Standards and Regulations
    6.2 Enterprise Governance, Risk, and Compliance Value Chain
           6.2.1 Value Chain Analysis
    6.3 Supply Chain Analysis
    6.4 Porter’s Five Forces Analysis

7 Enterprise Governance, Risk, and Compliance Market Analysis, By Component (Page No. - 64)
    7.1 Introduction
    7.2 Software
           7.2.1 Usage Types
                    7.2.1.1 Internal
                    7.2.1.2 External
           7.2.2 Type of Software
                    7.2.2.1 Policy Management
                    7.2.2.2 Compliance Management
                    7.2.2.3 Information Security and Access Control
                    7.2.2.4 Financial Controls Management
                    7.2.2.5 Incident Management
                    7.2.2.6 Risk Management
                    7.2.2.7 Audit Management
    7.3 Services
           7.3.1 Training and Consulting
           7.3.2 Integration
           7.3.3 Support

8 Enterprise Governance, Risk, and Compliance Market Analysis, By Deployment Model (Page No. - 98)
    8.1 Introduction
    8.2 Cloud
    8.3 On-Premise

9 Enterprise Governance, Risk, and Compliance Market Analysis, By Organization Size (Page No. - 104)
    9.1 Introduction
    9.2 Small and Medium Businesses (SMBS)
    9.3 Large Enterprises

10 Enterprise Governance Risk, and Compliance Market Analysis, By Business Function (Page No. - 108)
     10.1 Introduction
     10.2 Finance
     10.3 Information Technology (IT)
     10.4 Legal
     10.5 Operations

11 Enterprise Governance, Risk, and Compliance Market Analysis, By Vertical (Page No. - 118)
     11.1 Introduction
     11.2 Banking, Financial Services, and Insurance
     11.3 Construction and Engineering
     11.4 Energy and Utility
     11.5 Government
     11.6 Healthcare
     11.7 Manufacturing
     11.8 Mining and Natural Resources
     11.9 Retail and Consumer Goods
     11.10 Telecom and IT
     11.11 Transportation and Logistics
     11.12 Others

12 Geographic Analysis (Page No. - 128)
     12.1 Introduction
     12.2 North America
     12.3 Europe
     12.4 Asia-Pacific
     12.5 Middle East and Africa
     12.6 Latin America

13 Competitive Landscape (Page No. - 153)
     13.1 Overview
     13.2 Enterprise Governance, Risk, and Compliance Market Evaluation Framework
     13.3 Competitive Situation and Trends
             13.3.1 New Product Launches and Upgradation
             13.3.2 Agreements, Joint Ventures, Partnerships, and Collaborations
             13.3.3 Mergers and Acquisitions

14 Company Profiles (Page No. - 160)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     14.1 Introduction
     14.2 Grc Solution Providers
             14.2.1 EMC Corporation
             14.2.2 International Business Machines Corporation
             14.2.3 Microsoft Corporation
             14.2.4 Oracle Corporation
             14.2.5 SAP SE
             14.2.6 Bwise
             14.2.7 Metricstream Inc.
             14.2.8 Sai Global Limited
             14.2.9 SAS Institute, Inc.
             14.2.10 Thomson Reuters
     14.3 Grc Consulting Service Providers
             14.3.1 Deloitte LLP
             14.3.2 Modulo Security, LLC.
             14.3.3 Pricewaterhousecoopers International Limited (PWC)
             14.3.4 Fidelity National Information Services
             14.3.5 Protiviti Inc.

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Key Innovators (Page No. - 196)
     15.1 Mega International
     15.2 Rsam
     15.3 Logicmanager Inc.
     15.4 Cura Technologies Ltd.
     15.5 Processgene Ltd.

16 Appendix (Page No. - 201)
     16.1 Industry Excerpts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Introducing RT: Real Time Market Intelligence
     16.5 Available Customizations
     16.6 Related Reports


List of Tables (134 Tables)

Table 1 Global Enterprise Governance, Risk, and Compliance Market Size, 2016–2021 (USD Billion)
Table 2 Major Governance, Risk, and Compliance Standards and Regulations
Table 3 Market Size, By Component, 2014–2021 (USD Million)
Table 4 Market Size, By Software, 2014–2021 (USD Million)
Table 5 Market Size, By Usage, 2014–2021 (USD Million)
Table 6 Internal: Market Size, By Region, 2014–2021 (USD Million)
Table 7 External: Market Size, By Region, 2014–2021 (USD Million)
Table 8 Policy Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 9 Policy Management: Market Size, By Business Function, 2014–2021, (USD Million)
Table 10 Policy Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 11 Policy Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 12 Policy Management: Market Size, By Region, 2014–2021 (USD Million)
Table 13 Compliance Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 14 Compliance Management: Market Size, By Business Function, 2014–2021 (USD Million)
Table 15 Compliance Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 16 Compliance Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 17 Compliance Management: Market Size, By Region, 2014–2021 (USD Million)
Table 18 Information Security and Access Control: Market Size, By Usage, 2014–2021 (USD Million)
Table 19 Information Security and Access Control: Market Size, By Business Function, 2014–2021 (USD Million)
Table 20 Information Security and Access Control: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 21 Information Security and Access Control: Market Size, By Vertical, 2014–2021 (USD Million)
Table 22 Information Security and Access Control: Enterprise Governance, Risk, and Compliance Market Size, By Region, 2014–2021 (USD Million)
Table 23 Financial Controls Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 24 Financial Controls Management: Market Size, By Business Function, 2014–2021 (USD Million)
Table 25 Financial Controls Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 26 Financial Controls Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 27 Financial Controls Management: Market Size, By Region, 2014–2021 (USD Million)
Table 28 Incident Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 29 Incident Management: Market Size, By Business Function, 2014–2021 (USD Million)
Table 30 Incident Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 31 Incident Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 32 Incident Management: Market Size, By Region, 2014–2021 (USD Million)
Table 33 Risk Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 34 Risk Management: Market Size, By Business Function, 2014–2021 (USD Million)
Table 35 Risk Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 36 Risk Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 37 Risk Management: Market Size, By Region, 2014–2021 (USD Million)
Table 38 Audit Management: Market Size, By Usage, 2014–2021 (USD Million)
Table 39 Audit Management: Market Size, By Business Function, 2014–2021 (USD Million)
Table 40 Audit Management: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 41 Audit Management: Market Size, By Vertical, 2014–2021 (USD Million)
Table 42 Audit Management: Market Size, By Region, 2014–2021 (USD Million)
Table 43 Enterprise Governance, Risk, and Compliance Market Size, By Service, 2014–2021 (USD Million)
Table 44 Training and Consulting: Market Size, By Business Function, 2014–2021 (USD Million)
Table 45 Training and Consulting: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 46 Training and Consulting: Market Size, By Vertical, 2014–2021 (USD Million)
Table 47 Training and Consulting: Market Size, By Region, 2014–2021 (USD Million)
Table 48 Integration: Market Size, By Business Function, 2014–2021 (USD Million)
Table 49 Integration: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 50 Integration: Market Size, By Vertical, 2014–2021 (USD Million)
Table 51 Integration: Market Size, By Region, 2014–2021 (USD Million)
Table 52 Support: Market Size, By Business Function, 2014–2021 (USD Million)
Table 53 Support: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 54 Support: Market Size, By Vertical, 2014–2021 (USD Million)
Table 55 Support: Market Size, By Region, 2014–2021 (USD Million)
Table 56 Enterprise Governance, Risk, and Compliance Market Size, By Deployment Model, 2014–2021 (USD Million)
Table 57 Cloud: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 58 Cloud: Market Size, By Vertical, 2014–2021 (USD Million)
Table 59 Cloud: Market Size, By Region, 2014–2021 (USD Million)
Table 60 On-Premise: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 61 On-Premise: Market Size, By Vertical, 2014–2021 (USD Million)
Table 62 On-Premise: Market Size, By Region, 2014–2021 (USD Million)
Table 63 Organization Size: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 64 Small and Medium Businesses: Market Size, By Region, 2014–2021 (USD Million)
Table 65 Large Enterprises: Market Size, By Region, 2014–2020 (USD Million)
Table 66 Enterprise Governance, Risk, and Compliance Market Size, By Business Function, 2014–2021 (USD Million)
Table 67 Finance: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 68 Finance: Market Size, By Vertical, 2014–2021 (USD Million)
Table 69 Finance: Market Size, By Region, 2014–2021 (USD Million)
Table 70 IT: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 71 IT: Market Size, By Vertical, 2014–2021 (USD Million)
Table 72 IT: Market Size, By Region, 2014–2021 (USD Million)
Table 73 Legal: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 74 Legal: Market Size, By Vertical, 2014–2021 (USD Million)
Table 75 Legal: Market Size, By Region, 2014–2021 (USD Million)
Table 76 Operations: Market Size, By Organization Size, 2014–2021 (USD Million)
Table 77 Operations: Market Size, By Vertical, 2014–2021 (USD Million)
Table 78 Operations: Market Size, By Region, 2014–2021 (USD Million)
Table 79 Enterprise Governance, Risk, and Compliance Market Size, By Vertical, 2014–2021 (USD Million)
Table 80 Banking, Financial Services, and Insurance: Market Size, By Region, 2014–2021 (USD Million)
Table 81 Construction and Engineering: Market Size, By Region, 2014–2021 (USD Million)
Table 82 Energy and Utility: Market Size, By Region, 2014–2021 (USD Million)
Table 83 Government: Market Size, By Region, 2014–2021 (USD Million)
Table 84 Healthcare: Market Size, By Region, 2014–2021 (USD Million)
Table 85 Manufacturing: Market Size, By Region, 2014–2021 (USD Million)
Table 86 Mining and Natural Resources: Market Size, By Region, 2014–2021 (USD Million)
Table 87 Retail and Consumer Goods: Market Size, By Region, 2014–2021 (USD Million)
Table 88 Telecom and IT: Market Size, By Region, 2014–2021 (USD Million)
Table 89 Transportation and Logistics: Market Size, By Region, 2014–2021 (USD Million)
Table 90 Others: Market Size, By Region, 2014–2021 (USD Million)
Table 91 Enterprise Governance, Risk, and Compliance Market Size, By Region, 2014-2021 (USD Million)
Table 92 North America: Market Size, By Component, 2014-2021 (USD Million)
Table 93 North America: Market Size, By Software, 2014-2021 (USD Million)
Table 94 North America: Market Size, By Usage, 2014-2021 (USD Million)
Table 95 North America: Market Size, By Service, 2014-2021 (USD Million)
Table 96 North America: Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 97 North America: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 98 North America: Market Size, By Business Function, 2014-2021 (USD Million)
Table 99 North America: Market Size, By Vertical, 2014-2021 (USD Million)
Table 100 Europe: Market Size, By Component, 2014-2021 (USD Million)
Table 101 Europe: Market Size, By Software, 2014-2021 (USD Million)
Table 102 Europe: Market Size, By Usage, 2014-2021 (USD Million)
Table 103 Europe: Market Size, By Service, 2014-2021 (USD Million)
Table 104 Europe: Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 105 Europe: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 106 Europe: Market Size, By Business Function, 2014-2021 (USD Million)
Table 107 Europe: Market Size, By Vertical, 2014-2021 (USD Million)
Table 108 Asia-Pacific: Market Size, By Component, 2014-2021 (USD Million)
Table 109 Asia-Pacific: Market Size, By Software, 2014-2021 (USD Million)
Table 110 Asia-Pacific: Market Size, By Usage, 2014-2021 (USD Million)
Table 111 Asia-Pacific: Market Size, By Service, 2014-2021 (USD Million)
Table 112 Asia-Pacific: Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 113 Asia-Pacific: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 114 Asia-Pacific: Market Size, By Business Function, 2014-2021 (USD Million)
Table 115 Asia-Pacific: Market Size, By Vertical, 2014-2021 (USD Million)
Table 116 Middle East and Africa: Market Size, By Component, 2014-2021 (USD Million)
Table 117 Middle East and Africa: Market Size, By Software, 2014-2021 (USD Million)
Table 118 Middle East and Africa: Market Size, By Usage, 2014-2021 (USD Million)
Table 119 Middle East and Africa: Market Size, By Service, 2014-2021 (USD Million)
Table 120 Middle East and Africa: Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 121 Middle East and Africa: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 122 Middle East and Africa: Market Size, By Business Function, 2014-2021 (USD Million)
Table 123 Middle East and Africa: Market Size, By Vertical, 2014-2021 (USD Million)
Table 124 Latin America: Enterprise Governance, Risk, and Compliance Market Size, By Component, 2014-2021 (USD Million)
Table 125 Latin America: Market Size, By Software, 2014-2021 (USD Million)
Table 126 Latin America: Market Size, By Usage , 2014-2021 (USD Million)
Table 127 Latin America: Market Size, By Service, 2014-2021 (USD Million)
Table 128 Latin America: Market Size, By Deployment Model, 2014-2021 (USD Million)
Table 129 Latin America: Market Size, By Organization Size, 2014-2021 (USD Million)
Table 130 Latin America: Market Size, By Business Function, 2014-2021 (USD Million)
Table 131 Latin America: Enterprise Governance, Risk, and Compliance Market Size, By Vertical, 2014-2021 (USD Million)
Table 132 New Product Launches and Upgradation, 2014–2016
Table 133 Agreements, Partnerships, Collaborations, and Joint Ventures, 2014–2016
Table 134 Mergers and Acquisitions, 2014–2016


List of Figures (60 Figures)

Figure 1 Markets Covered
Figure 2 Global Enterprise Governance, Risk, and Compliance Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Enterprise Governance, Risk, and Compliance Software Market Snapshot (2016 vs 2021)
Figure 7 Enterprise Governance, Risk, and Compliance Service Market Snapshot (2016 vs 2021)
Figure 8 Enterprise Governance, Risk, and Compliance Market Size, 2014–2021 (USD Billion)
Figure 9 Global Market Analysis, By Software, 2016
Figure 10 North America Expected to Showcase the Fastest Adoption Trend in the Market
Figure 11 North American Enterprises are Investing Substantial Share of Their Revenue in Enterprise Governance, Risk, and Compliance Software and Services
Figure 12 Global Market is Expected to Grow Significantly During the Forecast Period
Figure 13 Risk and Audit Management are the Most Lucrative Segments for Vendors
Figure 14 BFSI, Healthcare, and Energy & Utility Sectors are Expected to Be the Major Areas of Investment Across North America, Europe, and Asia-Pacific
Figure 15 Stringent Regulatory and Compliance Mandates Drive Enterprise Governance, Risk, and Compliance Adoption in North America
Figure 16 Asia-Pacific has Gradually Intensified Enterprise Governance, Risk, and Compliance Adoption and has Entered High Growth Phase
Figure 17 Governance, Risk, and Compliance Evolution From 1990 to 2015
Figure 18 Market Segmentation: By Component
Figure 19 Market Segmentation: By Usage Type
Figure 20 Market Segmentation: By Software Type
Figure 21 Market Segmentation: By Service
Figure 22 Market Segmentation: By Deployment Model
Figure 23 Market Segmentation: By Organization Size
Figure 24 Market Segmentation: By Business Function
Figure 25 Market Segmentation: By Vertical
Figure 26 Market Segmentation: By Region
Figure 27 Market Drivers, Restraints, Opportunities, and Challenges
Figure 28 Market Value Chain Analysis
Figure 29 Supply Chain Analysis
Figure 30 Porter’s Five Forces Analysis
Figure 31 Enterprise Governance, Risk, and Compliance Software and Service Types
Figure 32 Global Enterprise Governance, Risk, and Compliance Software and Service Adoption Trend
Figure 33 Risk and Audit Management is Dominating the Adoption Trend of Enterprise Governance Risk, and Compliance Software Solutions Globally
Figure 34 Integration Services is Expected to Lead Market With Increase in Adoption of Enterprise Governance Risk, and Compliance Solution
Figure 35 Cloud-GRC is Expected to Showcase the Highest Adoption
Figure 36 Large Enterprises are Expected to Showcase the Highest Enterprise Governance, Risk, and Compliance Adoption
Figure 37 Finance and IT Functions are Expected to Showcase the Highest Enterprise Governance, Risk, and Compliance Adoption
Figure 38 Banking, Financial Services and Insurance and Healthcare Verticals are Expected to Have the Highest Market Share During the Forecast Period
Figure 39 Asia-Pacific is Expected to Showcase the Highest CAGR During the Enterprise Governance, Risk, and Compliance Forecast Period
Figure 40 North America and Europe are the Most Attractive Markets for Investments, 2016-2021
Figure 41 Asia-Pacific Expected to Grow at the Highest CAGR, 2016-2021
Figure 42 North America Market Snapshot
Figure 43 Europe Market Snapshot
Figure 44 Asia-Pacific Market Snapshot
Figure 45 New Product Launches and Partnerships are the Key Strategies Adopted From 2014 to 2016
Figure 46 EGRC Market Evaluation Framework
Figure 47 Battle for Market Share: New Product Launch Was the Key Strategy
Figure 48 Geographic Revenue Mix of Top 4 Players
Figure 49 EMC Corporation: Company Snapshot
Figure 50 EMC Corporation: SWOT Analysis
Figure 51 International Business Machines Corporation: Company Snapshot
Figure 52 International Business Machines Corporation: SWOT Analysis
Figure 53 Microsoft Corporation: Company Snapshot
Figure 54 Microsoft Corporation: SWOT Analysis
Figure 55 Oracle Corporation: Company Snapshot
Figure 56 Oracle Corporation: SWOT Analysis
Figure 57 SAP SE: Company Snapshot
Figure 58 SAP SE: SWOT Analysis
Figure 59 Sai Global Limited: Company Snapshot
Figure 60 Thomson Reuters: Company Snapshot

The global Enterprise Governance, Risk, and Compliance (eGRC) market is expected to grow from USD 19.42 Billion in 2016 to USD 38.00 Billion by 2021, at a CAGR of 14.4%.  The main driving factors for the growth of the market include the need to increase operational efficiency and reduce cost, growing business partnerships and associations, and increasing number of government regulation and compliance mandates.

Among eGRC software, the risk management software solution is gaining maximum traction in the enterprise governance, risk, and compliance market; it is also expected to have the largest market size during the forecast period. Analyzing, identifying, monitoring, and controlling business function helps avoid the risk associated with the organizational function. The non-compliance risk can lead to financial loss due to the high penalty imposed by governments and also hurts company reputation. Therefore, the demand for risk management software solution is rising continuously.

Among the eGRC services, the integration services segment is expected to grow at the highest CAGR, whereas training and consulting is the largest contributor among all the services. Integration service is expected to grow rapidly as it is required for deploying GRC solutions on either cloud or on-premises. Upgradation of solutions and the complexities involved in the integration are resolved by integration service providers; this service enables organizations to use GRC solutions at theirull potential.

In the verticals segment, the energy and utility sector is expected to be the second largest contributor during the forecast period. This sector is most prone to risk due to the involvement of huge capital investments, strong regulations, high technical expertise, higher reliability expectations, and complex relationships with industry peers. Other industry verticals, such as BFSI, telecom & IT, and government are expected to contribute significantly, due to increased concerns in managing complex rules and regulations and for protection from failure of compliance.

APAC is expected to be the fastest-growing region during the forecast period, as it is emerging as an IT hub. The companies in the region are recognizing the requirements of regulators, clients of member firms, and demand in the market to launch new products or updated versions of their existing GRC solutions. North America is expected to lead the enterprise governance, risk, and compliance market as it is the most highly regulated region with extremely stringent laws.

Enterprise Governance, Risk and Compliance Market

The varying structure of regulatory policies from country to country and limited resources and awareness within organizations regarding eGRC solutions and their benefits are acting obstacles in the growth of the eGRC market. These factors account for risk of failure to perform in the competitive business world, which necessitates risk management solutions. With changes in governance and business processes, there is also a need to update the solutions. However, many small organizations are unaware of the vulnerabilities present in their everyday operations that can affect their business performance Thus, the enterprise governance, risk, and compliance market solution is majorly occupied by large enterprises.

EMC Corporation (Massachusetts, U.S.), IBM (New York, U.S.), Microsoft Corporation (Washington, U.S.), Oracle Corporation (California, U.S.), BWise (Rosmalen, the Netherlands), MetricStream (California. U.S.), SAI Global (Sydney, Australia), SAS (North Carolina, U.S.), and Thomson Reuters (New York, U.S.) are identified as leaders in the   eGRC market, whereas Mega (Paris, France), RSAM (New Jersey, U.S.), LogicManager (Massachusetts, U.S.), Cura Technologies (Hyderabad, India), and ProcessGene (Israel) are identified as key innovators in the market. Also, Deloitte (New York, U.S.), Modulo (Rio de Janeiro, Brazil), PwC (London, U.K.), Fidelity National Information Service (Florida, U.S.), and Protiviti (California, U.S.) are identified as the key consulting service providers. The companies have majorly adopted the strategy of new product launches and upgradations to offer innovative solutions and increase their customer base. The strategy of partnerships and acquisitions accounted for the share of 27% and 12%, respectively, of the total strategic developments, in the global eGRC market.

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