Market Overview:
The global governance, risk management and compliance (GRC) market is expected to grow from USD 9.02 billion in 2018 to USD 16.48 billion by 2030, at a CAGR of 7.5% from 2018 to 2030. The growth of the GRC market can be attributed to the increasing need for risk management and compliance solutions among organizations due to the rising number of regulatory mandates and growing cyber threats. Moreover, the cloud-based deployment model is gaining traction among organizations as it offers several benefits such as scalability, flexibility, and cost-effectiveness over on-premise deployment models. The large enterprises segment is expected to hold a larger share of the GRC market during the forecast period owing to the increasing adoption of GRC solutions by these enterprises in order to manage their complex business operations effectively.
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Product Definition:
Governance, Risk Management and Compliance (GRC) is a framework of policies and procedures that helps organizations manage risk, ensure compliance with regulatory requirements and improve corporate governance. GRC includes processes for assessing organizational risk, establishing risk management policies and procedures, implementing controls to mitigate risks, conducting periodic reviews to ensure the effectiveness of the controls in place and reporting on compliance. The goal of GRC is to protect an organization's assets while allowing it to pursue its goals.
The importance of Governance, Risk Management and Compliance (GRC) cannot be overstated. Organizations that lack effective GRC frameworks are more likely to experience financial losses due to fraud or regulatory penalties, suffer reputational damage as a result of data breaches or other incidents which could harm their business relationships or be subject to litigation from disgruntled customers or employees. By contrast, organizations that have effective GRC frameworks in place can enjoy improved operational efficiency, reduced costs and improved organizational resilience.
Cloud-based:
Cloud-based solutions are expected to witness significant growth over the forecast period owing to factors such as low cost of implementation, reduced maintenance and storage requirements. These solutions offer benefits such as increased data access from any location in a simple and effective way.
On-premise:
On-premise solutions are software and applications that are installed and operated from the organization's data center. The on-premise solution is typically a dedicated application used for a specific function or set of functions within an organization. On-premises solutions offer benefits such as easy integration with existing systems, customization of services, reduction in dependency on cloud infrastructure, control over IT operations & data security and low cost of ownership which makes it more preferable among enterprises.
Application Insights:
The large enterprises segment dominated the global GRC market in 2017. This can be attributed to factors such as presence of a robust compliance infrastructure and an increasing number of regulations that demand stringent governance, risk management, and compliance procedures from large organizations. Furthermore, growing awareness among enterprises about the benefits associated with GRC solutions is expected to drive growth over the forecast period.
The small and medium-sized enterprises (SMEs) segment is anticipated to witness considerable growth over the forecast period owing to rising adoption of cloud-based GRC solutions by SMEs for managing regulatory requirements related to risk management and internal control standards set by boards of directors or shareholders. The need for effective risk management strategies in order for SMEsto comply with existing regulationsis expected drive demand over the next few years.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing government regulations and compliance mandates, high-tech solutions, and rising adoption of cloud technology. For instance, the implementation of the Foreign Account Tax Compliance Act (FATCA) by major banks in U.S has increased their efforts for information gathering about their customers offshore accounts which is further driving regional growth.
Asia Pacific is estimated to be one of the fastest growing regions during the forecast period owing to rapid technological advancements such as Artificial Intelligence (AI), machine learning, IoT devices among others that are anticipated to drive industry expansion over next eight years from 2018 To 2030 time frame.
Growth Factors:
- Increased awareness of the importance of GRC and its benefits among organizations
- The increasing complexity of business operations and the need for better risk management
- The growing number of compliance regulations and standards, which organizations must adhere to
- The increasing demand for GRC solutions from small businesses and mid-market companies
- The growing use of cloud-based GRC solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
Governance, Risk Management and Compliance (GRC) Market Research Report
By Type
Cloud-based, On-premise
By Application
Large Enterprises, SMEs
By Companies
IBM, Dell (RSA Security), SAP, Oracle, Software AG, LogicManager, Riskonnect, ACL GRC, SAI Global, MetricStream, SAS Institue, Enablon (Wolters Kluwer), Sword Active Risk, Check Point Software, MEGA International, Resolver, Lockpath, ProcessGene, Aravo, ReadiNow, LogicGate, Reciprocity ZenGRC
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
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Governance, Risk Management and Compliance (GRC) Market Report Segments:
The global Governance, Risk Management and Compliance (GRC) market is segmented on the basis of:
Types
Cloud-based, On-premise
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
Large Enterprises, SMEs
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
- Dell (RSA Security)
- SAP
- Oracle
- Software AG
- LogicManager
- Riskonnect
- ACL GRC
- SAI Global
- MetricStream
- SAS Institue
- Enablon (Wolters Kluwer)
- Sword Active Risk
- Check Point Software
- MEGA International
- Resolver
- Lockpath
- ProcessGene
- Aravo
- ReadiNow
- LogicGate
- Reciprocity ZenGRC
 Market Overview.svg)
Highlights of The Governance, Risk Management and Compliance (GRC) 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:
- Cloud-based
- On-premise
- By Application:
- Large Enterprises
- SMEs
- 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 Governance, Risk Management and Compliance (GRC) 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.
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- Correctly Positioning New Products
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 Market Statistics.svg)
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?
Governance, risk management and compliance (GRC) is the process of managing risks associated with the governance of an organization. It includes identifying and assessing risks, developing policies and procedures to manage those risks, monitoring implementation of those policies and procedures, and taking corrective action when necessary.
Some of the major companies in the governance, risk management and compliance (grc) market are IBM, Dell (RSA Security), SAP, Oracle, Software AG, LogicManager, Riskonnect, ACL GRC, SAI Global, MetricStream, SAS Institue, Enablon (Wolters Kluwer), Sword Active Risk, Check Point Software, MEGA International, Resolver, Lockpath, ProcessGene, Aravo, ReadiNow, LogicGate, Reciprocity ZenGRC.
The governance, risk management and compliance (grc) market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size & Forecast, 2018-2028
4.5.1 Governance, Risk Management and Compliance (GRC) Market Size and Y-o-Y Growth
4.5.2 Governance, Risk Management and Compliance (GRC) Market Absolute $ Opportunity
Chapter 5 Global Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Analysis and Forecast
9.1 Introduction
9.2 North America Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premise
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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
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 Governance, Risk Management and Compliance (GRC) Analysis and Forecast
10.1 Introduction
10.2 Europe Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premise
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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
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 Governance, Risk Management and Compliance (GRC) Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premise
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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
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 Governance, Risk Management and Compliance (GRC) Analysis and Forecast
12.1 Introduction
12.2 Latin America Governance, Risk Management and Compliance (GRC) 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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premise
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 Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
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) Governance, Risk Management and Compliance (GRC) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Governance, Risk Management and Compliance (GRC) 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) Governance, Risk Management and Compliance (GRC) Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premise
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) Governance, Risk Management and Compliance (GRC) Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
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 Governance, Risk Management and Compliance (GRC) Market: Competitive Dashboard
14.2 Global Governance, Risk Management and Compliance (GRC) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Dell (RSA Security)
14.3.3 SAP
14.3.4 Oracle
14.3.5 Software AG
14.3.6 LogicManager
14.3.7 Riskonnect
14.3.8 ACL GRC
14.3.9 SAI Global
14.3.10 MetricStream
14.3.11 SAS Institue
14.3.12 Enablon (Wolters Kluwer)
14.3.13 Sword Active Risk
14.3.14 Check Point Software
14.3.15 MEGA International
14.3.16 Resolver
14.3.17 Lockpath
14.3.18 ProcessGene
14.3.19 Aravo
14.3.20 ReadiNow
14.3.21 LogicGate
14.3.22 Reciprocity ZenGRC
