Global eGRC Market

eGRC Market Size, Share, Growth Analysis, By Offering(Solutions [Risk Management (Operational Risk Management, Financial Risk Management, Third-Party/Vendor Risk Management, Incident and Crisis Management)), By Solution Usage(Internal, External), By Deployment Mode(On-Premises, Cloud), By Organization Size(Large Enterprises, SMEs), By Business Function(Finance, IT, Legal, Operations), By Vertical(BFSI, Telecommunication, Energy & Utilities, Government), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45E2228 | Region: Global | Published Date: September, 2024
Pages: 197 | Tables: 86 | Figures: 76

eGRC Market Regional Insights

North America is estimated to secure the top spot in the global eGRC market. Rapid adoption of advanced technologies, presence of multiple multinational organizations, and the need for compliance with strict regulations allows it to become the top market for eGRC companies around the world. Rising risk of cyberattacks and data breaches is also expected to promote the demand for eGRC in this region. Canada and the United States are estimated to emerge as the most opportune markets for eGRC market players in the North American region. Presence of leading eGRC companies will also contribute to the dominance of this region in the future.  

Rapid digital transformation and increasing awareness regarding the benefits of eGRC adoption help Asia Pacific region emerge as the fastest-growing market in the world. Imposition of stringent regulations and growing complexity of regulatory frameworks are slated to create an opportune setting for eGRC companies as organizations focus on improving compliance. The presence of robust start-up ecosystem in this region will also create new opportunities for all eGRC providers going forward. China, India, and Japan are slated to be the most rewarding markets for all eGRC companies operating in the Asia Pacific region going forward. Supportive government initiatives to promote economic development will further bolster market growth in this region. 

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FAQs

Global eGRC Market size was valued at USD 17.8 billion in 2022 and is poised to grow from USD 20.17 billion in 2023 to USD 54.76 billion by 2031, growing at a CAGR of 13.30% during the forecast period (2024-2031).

Launching new eGRC that simplify risk and compliance management should be the prime focus of all market players in the future. Collaborations and partnerships are expected to be preferred strategies for eGRC companies looking to expand their global market presence. Developing affordable and easy to use eGRC solutions for small and medium enterprises will also present new opportunities for eGRC providers going forward.  'Wolters Kluwer (Netherlands) ', 'FIS (US) ', 'Microsoft (US) ', 'LexisNexis (US) ', 'SAS Institute (US) ', 'IBM (US) ', 'Oracle (US) ', 'SAP (Germany) ', 'ServiceNow (US) ', 'Thomson Reuters (UK) ', 'Mega International (Taiwan) ', 'Mphasis (India) ', 'MetricStream (US) ', 'Riskonnect (US) ', 'Navex Global (US) ', 'OneTrust (US) ', 'LogicManager (US) ', 'Allgress (US) ', 'SureCloud (UK) ', 'Acuity Risk Management (UK) ', 'C&F S.A. (Spain) ', 'Onspring (US) ', 'Oxial (France) ', 'Readinow (US) ', 'Globalsuite Solutions (US) ', 'Optimiso (France) ', 'StandardFusion (Canada) ', 'Comensure (France) ', 'Dynamic-GRC (US) ', 'VComply (US) ', 'LogicGate (US) ', 'Smartsuite (US)'

Enterprises are subject to strict regulatory compliance mandates and the complexity of these regulatory frameworks is increasing on a global level. GDPR, SOX, HIPAA, and Basel III are some popular regulations that are expected to drive up the demand for eGRC solutions and services to streamline compliance management in the future.  

Use of RegTech Solutions: eGRC companies should focus on integrating RegTech technologies with their offerings to maximize their business scope in the future. RegTech solutions use automation, data analytics, and AI to streamline compliance tasks, monitor regulatory changes in real-time, and ensure adherence to global standards. Adoption of RegTech will also help eGRC companies in navigating the increasingly complex regulatory frameworks around the world.  

North America is estimated to secure the top spot in the global eGRC market. Rapid adoption of advanced technologies, presence of multiple multinational organizations, and the need for compliance with strict regulations allows it to become the top market for eGRC companies around the world. Rising risk of cyberattacks and data breaches is also expected to promote the demand for eGRC in this region. Canada and the United States are estimated to emerge as the most opportune markets for eGRC market players in the North American region. Presence of leading eGRC companies will also contribute to the dominance of this region in the future.  

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Global eGRC Market

Report ID: SQMIG45E2228

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