Understanding the Enterprise Governance, Risk and Compliance (eGRC) Market’s Growth Prospects from 2024 to 2033
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
2024-2033 Forecast: What is the Projected Growth Rate for the Enterprise Governance, Risk and Compliance (eGRC) Market?
In recent times, there has been a swift expansion in the enterprise governance, risk and compliance (EGRC) market. The market size is expected to rise from $36.56 billion in 2023 to $41.52 billion in 2024, thus indicating a compound annual growth rate (CAGR) of 13.6%. The market’s historic growth can be credited to various factors like the need for risk management, data security issues, challenges due to globalization, requirements for audits and accountability as well as operational efficiency.
Over the coming years, the enterprise governance, risk and compliance (EGRC) market is projected to experience a fast-paced expansion. The market is forecasted to surge to $71.29 billion by 2028, recording a compound annual growth rate (CAGR) of 14.5%. The anticipated growth during this period can be linked to factors such as the evolving cybersecurity threat landscape, climate and sustainability issues, real-time monitoring and reporting, and resilience planning. Future trends likely to shape the market during this forecast period include the evolution of regulatory technology (regtech), advancements in analytics and AI, focus on technology integration, amplified emphasis on cybersecurity risk, and the integration of regulatory technology (regtech).
Claim Your Free Sample of the Global Enterprise Governance, Risk and Compliance (eGRC) Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=7552&type=smp
What Are the Main Drivers Behind the Growth of the enterprise governance, risk and compliance (egrc) Market?
The surge in cyber-attack incidents is anticipated to push the growth of the enterprise governance, risk, and compliance (eGRC) market. Cyber-attacks, which constitute unsanctioned attempts to infiltrate a computer, computing system, or computer network to inflict harm, are leading organizations worldwide to utilize eGRC solutions. These solutions provide numerous benefits like risk and compliance management, business continuity applications, and financial audit management. As per a report by SonicWall, a cybersecurity company based in the US, there was a 105% spike in ransomware cyberattacks in 2021. A staggering 1885% hike in cyberattacks was witnessed in government entities, while the healthcare sector experienced a 755% rise in cyberattacks in 2021. As a result, the upswing in cyber-attack incidents is spurring the growth of the enterprise governance, risk, and compliance (eGRC) market.
What Are the Primary Segments of the Enterprise Governance, Risk and Compliance (eGRC) Market?
1) By Component: Software, Services
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) By Deployment Model: Cloud-Based, On-Premise
4) By Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Government, Energy And Utilities, Manufacturing, Retail And Consumer Goods, Telecom And Information Technology (IT), Other Verticals
Which Trends Are Revolutionizing the Enterprise Governance, Risk and Compliance (eGRC) Market?
The rise of technological innovations is a significant trend observed in the enterprise governance, risk, and compliance (eGRC) market. Major firms in this market are paying keen attention to the development of new tech-driven solutions to solidify their market position. For example, in January 2022, MetricStream, a US software firm operating in the integrated risk management (IRM) and governance, risk, and compliance (GRC) sectors, unveiled ConnectedGRC. This solution is incorporated with AI, deep domain capabilities, and risk quantification capabilities, aiming to tackle various pressing business challenges related to risk, compliance, audit, cyber risks, and environmental, social, and governance (ESG). The integrated GRC software offered by MetricStream enables professionals to work together more efficiently, exchange information, and manage risk quantitative manner. ConnectedGRC extends three unique product lines including BusinessGRC, CyberGRC, and ESGRC.
Order Now for Fast Delivery of Your Enterprise Governance, Risk and Compliance (eGRC) Market Report!
Which Geographical Regions Are Pioneering Growth in the Enterprise Governance, Risk and Compliance (eGRC) Market?
North America was the largest region in the enterprise, governance, risk, and governance (eGRC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise governance, risk and compliance (egrc) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Enterprise Governance, Risk and Compliance (eGRC) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the enterprise governance, risk and compliance (egrc) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Enterprise Governance, Risk and Compliance (eGRC) Market Include
1. Enterprise Governance, Risk and Compliance (eGRC) Market Executive Summary
2. Enterprise Governance, Risk and Compliance (eGRC) Market Segments
3. Enterprise Governance, Risk and Compliance (eGRC) Market Size And Template Market Growth Rate
4. Key Enterprise Governance, Risk and Compliance (eGRC) Market Trends
5. Major Enterprise Governance, Risk and Compliance (eGRC) Market Drivers
……
25. Key Mergers And Acquisitions In The Enterprise Governance, Risk and Compliance (eGRC) Market
26. Top Enterprise Governance, Risk and Compliance (eGRC) Companies
27. Enterprise Governance, Risk and Compliance (eGRC) Market Opportunities And Strategies
28. Enterprise Governance, Risk and Compliance (eGRC) Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
B2B Legal Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/b2b-legal-services-global-market-report
Software And BPO Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/software-and-bpo-services-global-market-report
Business Support Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/business-support-services-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
