Market Overview:
The global eGRC market is expected to grow from USD 2.02 billion in 2018 to USD 4.06 billion by 2030, at a CAGR of 10.5% from 2018 to 2030. The growth of the global eGRC market can be attributed to the increasing need for compliance and risk management across organizations, and the growing demand for cloud-based eGRC solutions. However, data privacy concerns may restrain the growth of the global eGRC market to some extent during the forecast period.
Product Definition:
eGRC stands for electronic governance, risk and compliance. It is the application of technology to enable better management of governance, risk and compliance processes and activities. eGRC solutions provide a single platform for managing all aspects of these areas including policy management, risk assessment, regulatory reporting and incident response. The importance of eGRC lies in its ability to improve organizational performance by helping to ensure compliance with regulations while also reducing costs and maximizing efficiency.
Audit Management:
Audit management is a service that supports organizations in maintaining their records of compliance with various regulations. It helps them track and manage the processes of internal and external audits, which are essential for ensuring business integrity. The factors driving the growth of audit management services include growing need to improve regulatory compliance, increasing demand for risk assessment & assurance among customers, as well as government initiatives aimed at improving corporate governance.
Compliance Management:
compliance management is a tool that helps organizations to keep track of their regulatory requirements and compliances. It also provides an interface between the enterprise and its regulators, helping enterprises comply with regulations in a cost-effective manner.
compliance management software is used by companies to manage all their compliance requirements such as Sarbanes Oxley, HIPAA, GLB (Gender Based), PCI DSS (Data Security), FDA (Food & Drug Administration) among others.
Application Insights:
The policy management segment dominated the global eGRC market in 2017 and is expected to grow at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing demand for robust policies across various industries, such as healthcare, IT and telecom, financial services, retail and others. Furthermore, growing concerns regarding data breaches are driving organizations towards adopting security solutions that help mitigate risks by enabling effective risk governance.
The finance application segment accounted for more than 15% share of the overall revenue in 2017 owing to an increase in regulations pertaining fraud detection within organizations. Moreover, rising awareness about e-governance initiatives among governments across various countries has resulted in increased adoption of compliance management software within government institutions for better tracking & control over expenditure activities related to financial transactions & accounts receivable. This is further anticipated to drive product demand during the forecast period.
Regional Analysis:
The North American regional market accounted for the largest revenue share in 2017. The region is expected to maintain its lead over the forecast period owing to early adoption of eGRC solutions by various organizations, such as Walmart and General Motors. Furthermore, growing awareness about security threats and technological advancements are also contributing toward the growth of this regional market.
Asia Pacific is estimated to be the fastest-growing region during the forecast period due to increasing government regulations pertaining to information security practices across several industries in countries such as China, India, Singapore, South Korea & Japan (CISK). Moreover, rising concerns regarding data theft and frauds have led governments across these countries towards adopting stringent cybersecurity laws that demand compliance with high standards of protection for personal data within an organization.
Growth Factors:
- Increased awareness of the benefits of eGRC among organizations
- The increasing demand for compliance and regulatory requirements by businesses
- The growing need for risk management and mitigation strategies
- The rising trend of digital transformation across industries
- Proliferation of cloud-based solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
eGRC Market Research Report
By Type
Audit Management, Compliance Management, Risk Management, Policy Management, Incident Management, Others
By Application
Finance, IT, Legal, Operations
By Companies
IBM, Microsoft, SAp, SAS, Oracle, Bwise, FIS, Wolters Kluwer, Metricstream, Thomson Reuters, EMC (A Dell Company)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
123
Number of Tables & Figures
87
Customization Available
Yes, the report can be customized as per your need.
Global eGRC Market Report Segments:
The global eGRC market is segmented on the basis of:
Types
Audit Management, Compliance Management, Risk Management, Policy Management, Incident Management, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Finance, IT, Legal, Operations
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- Microsoft
- SAp
- SAS
- Oracle
- Bwise
- FIS
- Wolters Kluwer
- Metricstream
- Thomson Reuters
- EMC (A Dell Company)
Highlights of The eGRC Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Audit Management
- Compliance Management
- Risk Management
- Policy Management
- Incident Management
- Others
- By Application:
- Finance
- IT
- Legal
- Operations
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the eGRC Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
eGRC is an acronym for electronic governance and risk management. It is a framework that helps organizations manage their risks by integrating information and communication technology (ICT) into their decision-making processes. eGRC helps organizations identify, assess, monitor, report on, and respond to risks in a timely manner.
Some of the major players in the egrc market are IBM, Microsoft, SAp, SAS, Oracle, Bwise, FIS, Wolters Kluwer, Metricstream, Thomson Reuters, EMC (A Dell Company).
The egrc market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 eGRC Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 eGRC Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 eGRC Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the eGRC Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global eGRC Market Size & Forecast, 2020-2028
4.5.1 eGRC Market Size and Y-o-Y Growth
4.5.2 eGRC Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Audit Management
5.2.2 Compliance Management
5.2.3 Risk Management
5.2.4 Policy Management
5.2.5 Incident Management
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Finance
6.2.2 IT
6.2.3 Legal
6.2.4 Operations
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global eGRC Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 eGRC Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Audit Management
9.6.2 Compliance Management
9.6.3 Risk Management
9.6.4 Policy Management
9.6.5 Incident Management
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Finance
9.10.2 IT
9.10.3 Legal
9.10.4 Operations
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Audit Management
10.6.2 Compliance Management
10.6.3 Risk Management
10.6.4 Policy Management
10.6.5 Incident Management
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Finance
10.10.2 IT
10.10.3 Legal
10.10.4 Operations
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Audit Management
11.6.2 Compliance Management
11.6.3 Risk Management
11.6.4 Policy Management
11.6.5 Incident Management
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Finance
11.10.2 IT
11.10.3 Legal
11.10.4 Operations
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Audit Management
12.6.2 Compliance Management
12.6.3 Risk Management
12.6.4 Policy Management
12.6.5 Incident Management
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Finance
12.10.2 IT
12.10.3 Legal
12.10.4 Operations
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Audit Management
13.6.2 Compliance Management
13.6.3 Risk Management
13.6.4 Policy Management
13.6.5 Incident Management
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Finance
13.10.2 IT
13.10.3 Legal
13.10.4 Operations
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 eGRC Market: Competitive Dashboard
14.2 Global eGRC Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Microsoft
14.3.3 SAp
14.3.4 SAS
14.3.5 Oracle
14.3.6 Bwise
14.3.7 FIS
14.3.8 Wolters Kluwer
14.3.9 Metricstream
14.3.10 Thomson Reuters
14.3.11 EMC (A Dell Company)
