The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The governance, compliance, and risk management software market size has undergone rapid growth in recent years, progressing from $41.93 billion in 2023 to $47.05 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%.  This growth in the historical period is driven by factors such as regulatory complexity, the increasing need for risk mitigation, emphasis on corporate governance, concerns related to data security, and the impact of globalization. Looking ahead, the governance, compliance, and risk management software market is expected to experience rapid growth, projected to expand to $76.44 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%.  Anticipated growth drivers include the evolving regulatory landscape, cybersecurity threats, focus on environmental, social, and governance (ESG) practices, and digital transformation initiatives. Major trends in the forecast period encompass automated monitoring of third-party risks, solutions for data privacy and protection, continuous monitoring, and real-time reporting, evolving ESG compliance solutions, as well as user-friendly and intuitive interfaces.

The projected growth of the governance, compliance, and risk management software market is fueled by the increasing adoption of cloud-based networking. Cloud networking, encompassing on-premises cloud and public cloud, streamlines network capabilities in organizations and is utilized by risk managers, account officers, and auditors to simplify their activities. Notably, the Cisco Global Cloud Index (2016-2021) highlights that 94% of all workloads run on cloud networking and virtualized environments. Eurostat reports that approximately 41% of EU enterprises embraced cloud computing in 2021. This rising trend in cloud-based networking is a driving force behind the growth of the governance, compliance, and risk management software market, with market sizes in 2023, 2024, and 2028 reflecting this technological shift.

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What Are The Key Trends That Influence Governance, Compliance And Risk Management Software Market Share Analysis?
The automation of Governance, Risk, and Compliance (GRC) programs through specialized software applications is transforming the GRC software market. Such software helps organizations manage documentation and processes for optimal productivity. For instance, in August 2022, NAVEX Global, Inc., a US-based GRC software company, launched the NAVEX One platform. This innovative platform facilitates precise risk and compliance communication across multilingual teams and external partners. NAVEX One incorporates secure machine translation to improve communication and resolution speed, addressing multilingual challenges in GRC.

Which Market Players Are Driving Growth In The Governance, Compliance And Risk Management Software Market?
Major companies operating in the governance, compliance and risk management software market report are Dell Technologies, International Business Machines, Oracle Corporation, SAP SE, ServiceNow Inc., Check Point Software Technologies, NICE Ltd., Software AG, Workiva Inc., OneTrust LLC, NAVEX Global Inc., MetricStream, Microsoft Corporation, MEGA International, SAI Global, Riskonnect Inc., Galvanize Inc., ACL Services Ltd., Lockpath Inc., Resolver Inc., LogicGate Inc., Quantivate LLC, ProcessUnity Inc., ReadiNow Corporation, ProcessGene Ltd., Compliance 360, LogicManager, Sword GRC, ZenGRC, Convercent Inc., Cura Software Solutions, Ideagen Plc, MasterControl Inc.

How Is The Global Governance, Compliance And Risk Management Software Market Segmented?
The governance, compliance and risk management software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Premises, Cloud, Hybrid
3) By Enterprise Type: Small And Medium Enterprise (SME), Large Enterprise
4) By Industry Vertical: BFSI, Construction And Engineering, Energy And Utilities, Government, Healthcare, Manufacturing, Retail And Consumer Goods, Telecom And IT, Transportation And Logistics, Other Industry Verticals

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The Governance, Compliance And Risk Management Software Global Market Report 2024 provides an overview of the governance, compliance and risk management softwaremarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The governance, compliance and risk management software market forecast analyzes governance, compliance and risk management software market size, governance, compliance and risk management software market share, leading competitor and their market positions.

The Table Of Content For The Governance, Compliance And Risk Management Software Market Include
1. Governance, Compliance And Risk Management Software Market Executive Summary
2. Governance, Compliance And Risk Management Software Market Segments
3. Governance, Compliance And Risk Management Software Market Size And Template Market Growth Rate
4.  Key Governance, Compliance And Risk Management Software Market Trends
5. Major Governance, Compliance And Risk Management Software Market Drivers
……
25. Key Mergers And Acquisitions In The Governance, Compliance And Risk Management Software Market
26. Top Governance, Compliance And Risk Management Software Companies
27. Governance, Compliance And Risk Management Software Market Opportunities And Strategies
28. Governance, Compliance And Risk Management Software Market, Conclusions And Recommendations
29. Appendix

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