Top Growth Trends in the Enterprise Governance, Risk and Compliance (eGRC) Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Enterprise Governance, Risk and Compliance (eGRC) Market?
The escalation in cyber-attack occurrences is anticipated to drive the expansion of the enterprise governance, risk, and compliance (eGRC) market in the future. Cyber-attacks involve any unauthorized attempt to access a computer, computer system, or network with the goal to inflict harm. eGRC solutions are being adopted worldwide by organizations due to their numerous advantages like management of risk and compliance, applications for business resilience, and regulation of financial audits. For example, in April 2024, The Department for Science, Innovation, and Technology, a government department based in the UK, reported that UK businesses experienced approximately 7.78 million varied cybercrimes and roughly 116,000 non-phishing related cybercrimes in 2023. For UK charities, the estimated number of cybercrimes of all types was nearly 924,000 during the same time frame. Hence, the rising incidents of cyber-attacks are fueling the growth of the enterprise governance, risk, and compliance (eGRC) market.
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How Has the Enterprise Governance, Risk and Compliance (eGRC) Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market size for enterprise governance, risk and compliance (eGRC) has witnessed several folds growth lately. The market is projected to escalate from $40.62 billion in 2024 to $45.65 billion in 2025, indicating a compound annual growth rate (CAGR) of 12.4%. This progress in the preceding period can be credited to factors like the necessity for risk management, apprehensions about data security, globalization-related issues, demands for audit and accountability, and operational efficiency.
The market size of enterprise governance, risk and compliance (eGRC) is predicted to witness swift expansion in the upcoming years, reaching up to $83.78 billion by 2029, growing at a compound annual growth rate (CAGR) of 16.4%. The increase during this forecast period can be ascribed to elements such as the cybersecurity threat landscape, climate and sustainability factors, real-time monitoring and reporting, and resilience planning. Key trends for the forecast period include the development of regulatory technology (regtech), advanced analytics and artificial intelligence, technology integration, focus on cybersecurity risk, and integration of regulatory technology (regtech).
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What Are the Key Market Innovations in theEnterprise Governance, Risk and Compliance (eGRC) Market Over the Coming Years?
A significant trend gaining traction in the enterprise governance, risk, and compliance (eGRC) market is the progression of technology. Major industry players are investing in the creation of advanced technological solutions to consolidate their market presence. For example, MetricStream, a software establishment in the US, launched ConnectedGRC, a comprehensive solution equipped with AI, deep domain capabilities, and risk quantification abilities in January 2022. This platform tackles challenging business issues surrounding risk, compliance, audit, cyber risks, and environmental, social, and governance (ESG). MetricStream’s integrated GRC platform facilitates better collaboration, information sharing, and quantitative risk management among professionals. The software solution, ConnectedGRC is divided into three separate products: BusinessGRC, CyberGRC, and ESGRC.
Who Are the Top Companies Driving Innovation and Growth in theEnterprise Governance, Risk and Compliance (eGRC) Market?
Major companies operating in the enterprise governance, risk and compliance (eGRC) market include Microsoft Corporation, The International Business Machines Corporation, Oracle Corporation, SAP SE, Thomson Reuters, Wolters Kluwer N.V., SAS Institute Inc., RSA Security LLC, Workiva, OneTrust LLC, MetricStream Inc., NAVEX Global Inc., Sword GRC, Riskonnect Inc., Resolver Inc., ACL Services Ltd., Convercent, ProcessUnity Inc., SureCloud, Lockpath, LogicManager Inc., Cura Software, LogicGate Inc., SAI Global, Quantivate LLC, Alyne GmbH, CyberSaint Security, 360factors Inc., ConvergePoint Inc., Bwise Beheer B.V.
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Which Key Market Segments Comprise the Enterprise Governance, Risk and Compliance (eGRC) Market and Drive Its Revenue Growth?
The enterprise governance, risk and compliance (eGRC) market covered in this report is segmented –
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
Subsegments:
1) By Software: Risk Management Software, Compliance Management Software, Audit Management Software, Policy Management Software, Incident Management Software, Third-Party Risk Management Software, Business Continuity Management Software
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services, Managed Services
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Which Regions Are Emerging as Leaders 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 2024. 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.
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