PUBLISHER: IMARC | PRODUCT CODE: 1642457
PUBLISHER: IMARC | PRODUCT CODE: 1642457
Governance, Risk and Compliance Platform Market Report by Deployment Model, Solution, Component, Service, End-User, Industry Vertical, and Region 2025-2033
The global governance, risk and compliance platform market size reached USD 49.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 127.7 Billion by 2033, exhibiting a growth rate (CAGR) of 11.18% during 2025-2033. The growing focus on mitigating risks to protect sensitive data and intellectual property in various sectors, rising number of cyberthreats, and changing regulatory frameworks and compliance requirements are some of the major factors propelling the market.
The governance, risk and compliance (GRC) platform is a comprehensive solution that enables organizations to effectively manage and oversee their operations while ensuring adherence to regulatory requirements and industry standards. It provides better decision-making and more accurate information technology (IT) investments. It assists in offering a centralized framework for assessing, monitoring, and mitigating risks across various business processes. As it aids in minimizing complexity for managers, and decreasing the costs of multiple installations, the demand for GRC is rising across the globe.
At present, the increasing adoption of GRC, as it enables businesses to maintain consistency in governance and compliance practices across various regions, is bolstering the growth of the market. Besides this, the growing adoption of GRC platforms among organizations for better decision-making is offering a positive market outlook. In line with this, the rising utilization of social media governance to efficiently communicate with clients, staff members, and customers in an organization is propelling the growth of the market. Apart from this, the increasing awareness about data privacy rights and regulations is contributing to the growth of the market. Furthermore, the rising adoption of GRC platforms, as they benefit in identifying the problems even before they occur and centralizing the entire program at one place, is strengthening the growth of the market.
Governance, Risk and Compliance Platform Market Trends/Drivers:
Rising focus on mitigating risks
The rising focus on mitigating risks in various organizations due to the increasing awareness among businesses to safeguard their operations, reputation, and assets, is contributing to the growth of the market. In addition, GRC platforms provide a complete view of risks across the organization and allow for proactive identification and mitigation. Apart from this, these platforms enable enhanced decision-making and effective risk management strategies by centralizing risk assessment, monitoring, and response. Furthermore, this proactive approach minimizes potential vulnerabilities and helps in maintaining overall business continuity. The rising need to mitigate operational risks and enhance decision-making processes is bolstering the growth of the market.
Increasing number of cyberthreats
The increasing number of cyberthreats across the globe is supporting the growth of the market. Moreover, the rising adoption of the GRC platform to protect sensitive data and intellectual property from misuse is propelling the growth of the market. In line with this, GRC platforms integrate cybersecurity practices into the broader risk management framework. Apart from this, these platforms enable organizations to strengthen their defenses and respond promptly to cyber incidents by offering real-time monitoring, threat detection, and incident response capabilities. Furthermore, the comprehensive nature of GRC platforms ensures that cybersecurity is an integral part of the overall risk management strategy of a business to reduce the chances of data breaches and their associated consequences.
Changing regulatory frameworks
The rising adoption of GRC platforms due to the changing regulatory environment is contributing to the growth of the market. Industries are continuously facing various regulations and compliance requirements. Organizations are navigating these complex frameworks to avoid legal and financial repercussions. Apart from this, GRC platforms offer a unified approach to manage and track compliance efforts and ensure that businesses stay up to date with the latest rules. In line with this, the automation of compliance processes within these platforms streamlines reporting and auditing and reduces the burden of manual tasks while enhancing accuracy and transparency, which is offering a positive market outlook.
Governance, Risk and Compliance Platform Industry Segmentation:
Breakup by Deployment Model:
On-Premises
Cloud
On-premises represent the largest market segment
Breakup by Solution:
Audit Management
Risk Management
Policy Management
Compliance Management
Others
Compliance management accounts for the majority of the market share
Breakup by Component:
Software
Services
Software holds the biggest market share
Breakup by Service:
Integration
Consulting
Support
Integration involves seamlessly connecting GRC platforms with an existing software ecosystem of an organization. Integration services ensure that the GRC solution interacts with various systems efficiently. This enables smooth data exchange and centralized access and enhances the efficiency of GRC processes.
Consulting services provide expert guidance to organizations seeking to implement GRC solutions effectively. Consultants assess unique requirements, recommend suitable GRC strategies, and assist in tailoring the platform to align with the objectives of an organization. They ensure that the GRC platform is configured to address specific risks within the industry.
Support services comprise ongoing assistance for GRC platforms. This includes technical support, troubleshooting, and updates to ensure that the platform operates optimally. Reliable support services are crucial for maintaining the functionality and security of the GRC solution and addressing any issues promptly to minimize disruptions.
Breakup by End-User:
Small Enterprise
Medium Enterprise
Large Enterprise
Medium enterprise dominates the market share
Breakup by Industry Vertical:
BFSI
Construction and Engineering
Energy and Utilities
Government
Healthcare
Manufacturing
Retail and Consumer Goods
Telecom and IT
Transportation and Logistics
Others
BFSI represents the biggest market segment
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
North America exhibits a clear dominance, accounting for the largest governance, risk and compliance platform market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. According to the report, North America accounted for the largest market share.
North America held the biggest market share due to the rising demand for GRC platforms to manage risks and ensure ethical practices. Moreover, the growing adoption of integrated data platforms by financial services is offering a positive market outlook. Apart from this, the rising demand for risk management solutions for fraud detection is contributing to the growth of the market. In addition, the increasing employment of GRC in financial institutions to streamline the financial data and gather useful insights is propelling the growth of the market.
Competitive Landscape:
Major manufacturers are continuously developing and enhancing their solutions to keep up with evolving regulatory landscapes and emerging risks. They are integrating advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to provide predictive analytics and real-time monitoring and enable businesses to proactively identify potential risks and compliance gaps. In addition, companies are creating specialized GRC solutions tailored to specific industries to address the unique compliance requirements of various sectors. This approach ensures that organizations can effectively manage sector-specific risks and adhere to industry regulations. Apart from this, key players are working to ensure that their solutions can easily connect with enterprise resource planning (ERP), customer relationship management (CRM), and other systems.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
SAS Institute Inc.
IBM Corp
SAP SE
Dell Technologies
Microsoft Corporation
Fidelity National Information Services Inc.
Oracle Corporation
Thomson Reuters Corporation
Newport Consulting Group, LLC
BWise BV
Key Questions Answered in This Report
- 1. What was the size of the global governance, risk and compliance platform market in 2024?
- 2. What is the expected growth rate of the global governance, risk and compliance platform market during 2025-2033?
- 3. What are the key factors driving the global governance, risk and compliance platform market?
- 4. What has been the impact of COVID-19 on the global governance, risk and compliance platform market?
- 5. What is the breakup of the global governance, risk and compliance platform market based on the deployment model?
- 6. What is the breakup of the global governance, risk and compliance platform market based on the solution?
- 7. What is the breakup of the global governance, risk and compliance platform market based on the component?
- 8. What is the breakup of the global governance, risk and compliance platform market based on the service?
- 9. What is the breakup of the global governance, risk and compliance platform market based on the end user?
- 10. What is the breakup of the global governance, risk and compliance platform market based on the industry vertical?
- 11. What are the key regions in the global governance, risk and compliance platform market?
- 12. Who are the key players/companies in the global governance, risk and compliance platform market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Governance Risk and Compliance Platform Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Deployment Model
- 5.5 Market Breakup by Solution
- 5.6 Market Breakup by Component
- 5.7 Market Breakup by Service
- 5.8 Market Breakup by End-User
- 5.9 Market Breakup by Industry Vertical
- 5.10 Market Breakup by Region
- 5.11 Market Forecast
6 Market Breakup by Deployment Model
- 6.1 On-Premises
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Cloud
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Solution
- 7.1 Audit Management
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Risk Management
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Policy Management
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Compliance Management
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Component
- 8.1 Software
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Services
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Service
- 9.1 Integration
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Consulting
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Support
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by End-User
- 10.1 Small Enterprise
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Medium Enterprise
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Large Enterprise
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
11 Market Breakup by Industry Vertical
- 11.1 BFSI
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Construction and Engineering
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Energy and Utilities
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Government
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 11.5 Healthcare
- 11.5.1 Market Trends
- 11.5.2 Market Forecast
- 11.6 Manufacturing
- 11.6.1 Market Trends
- 11.6.2 Market Forecast
- 11.7 Retail and Consumer Goods
- 11.7.1 Market Trends
- 11.7.2 Market Forecast
- 11.8 Telecom and IT
- 11.8.1 Market Trends
- 11.8.2 Market Forecast
- 11.9 Transportation and Logistics
- 11.9.1 Market Trends
- 11.9.2 Market Forecast
- 11.10 Others
- 11.10.1 Market Trends
- 11.10.2 Market Forecast
12 Market Breakup by Region
- 12.1 North America
- 12.1.1 Market Trends
- 12.1.2 Market Forecast
- 12.2 Europe
- 12.2.1 Market Trends
- 12.2.2 Market Forecast
- 12.3 Asia Pacific
- 12.3.1 Market Trends
- 12.3.2 Market Forecast
- 12.4 Middle East and Africa
- 12.4.1 Market Trends
- 12.4.2 Market Forecast
- 12.5 Latin America
- 12.5.1 Market Trends
- 12.5.2 Market Forecast
13 Global Governance Risk and Compliance Platform Industry: SWOT Analysis
- 13.1 Overview
- 13.2 Strengths
- 13.3 Weaknesses
- 13.4 Opportunities
- 13.5 Threats
14 Global Governance Risk and Compliance Platform Industry: Value Chain Analysis
15 Global Governance Risk and Compliance Platform Industry: Porters Five Forces Analysis
- 15.1 Overview
- 15.2 Bargaining Power of Buyers
- 15.3 Bargaining Power of Suppliers
- 15.4 Degree of Competition
- 15.5 Threat of New Entrants
- 15.6 Threat of Substitutes
16 Global Governance Risk and Compliance Platform Industry: Price Analysis
17 Competitive Landscape
- 17.1 Market Structure
- 17.2 Key Players
- 17.3 Profiles of Key Players
- 17.3.1 SAS Institute Inc.
- 17.3.2 IBM Corp
- 17.3.3 SAP SE
- 17.3.4 Dell Technologies
- 17.3.5 Microsoft Corporation
- 17.3.6 Fidelity National Information Services Inc.
- 17.3.7 Oracle Corporation
- 17.3.8 Thomson Reuters Corporation
- 17.3.9 Newport Consulting Group, LLC
- 17.3.10 BWise BV
List of Figures
- Figure 1: Global: Governance Risk and Compliance Platform Market: Major Drivers and Challenges
- Figure 2: Global: Governance Risk and Compliance Platform Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Governance Risk and Compliance Platform Market: Breakup by Deployment Model (in %), 2024
- Figure 4: Global: Governance Risk and Compliance Platform Market: Breakup by Solution (in %), 2024
- Figure 5: Global: Governance Risk and Compliance Platform Market: Breakup by Component (in %), 2024
- Figure 6: Global: Governance Risk and Compliance Platform Market: Breakup by Service (in %), 2024
- Figure 7: Global: Governance Risk and Compliance Platform Market: Breakup by End-User (in %), 2024
- Figure 8: Global: Governance Risk and Compliance Platform Market: Breakup by Industry Vertical (in %), 2024
- Figure 9: Global: Governance Risk and Compliance Platform Market: Breakup by Region (in %), 2024
- Figure 10: Global: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 11: Global: Governance Risk and Compliance Platform Industry: SWOT Analysis
- Figure 12: Global: Governance Risk and Compliance Platform Industry: Value Chain Analysis
- Figure 13: Global: Governance Risk and Compliance Platform Industry: Porter's Five Forces Analysis
- Figure 14: Global: Governance Risk and Compliance Platform (On-Premises) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Governance Risk and Compliance Platform (On-Premises) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Governance Risk and Compliance Platform (Cloud) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Governance Risk and Compliance Platform (Cloud) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Governance Risk and Compliance Platform (Audit Management) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Governance Risk and Compliance Platform (Audit Management) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Governance Risk and Compliance Platform (Risk Management) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Governance Risk and Compliance Platform (Risk Management) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Governance Risk and Compliance Platform (Policy Management) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Governance Risk and Compliance Platform (Policy Management) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Governance Risk and Compliance Platform (Compliance Management) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Governance Risk and Compliance Platform (Compliance Management) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Governance Risk and Compliance Platform (Others) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Governance Risk and Compliance Platform (Others) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Governance Risk and Compliance Platform (Software) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Governance Risk and Compliance Platform (Software) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Global: Governance Risk and Compliance Platform (Services) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Global: Governance Risk and Compliance Platform (Services) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Global: Governance Risk and Compliance Platform (Integration) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Global: Governance Risk and Compliance Platform (Integration) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Global: Governance Risk and Compliance Platform (Consulting) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Global: Governance Risk and Compliance Platform (Consulting) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Global: Governance Risk and Compliance Platform (Support) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Global: Governance Risk and Compliance Platform (Support) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: Global: Governance Risk and Compliance Platform (Small Enterprise) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: Global: Governance Risk and Compliance Platform (Small Enterprise) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Global: Governance Risk and Compliance Platform (Medium Enterprise) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Global: Governance Risk and Compliance Platform (Medium Enterprise) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Global: Governance Risk and Compliance Platform (Large Enterprise) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Global: Governance Risk and Compliance Platform (Large Enterprise) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: Global: Governance Risk and Compliance Platform (BFSI) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: Global: Governance Risk and Compliance Platform (BFSI) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Global: Governance Risk and Compliance Platform (Construction and Engineering) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Global: Governance Risk and Compliance Platform (Construction and Engineering) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Global: Governance Risk and Compliance Platform (Energy and Utilities) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Global: Governance Risk and Compliance Platform (Energy and Utilities) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Global: Governance Risk and Compliance Platform (Government) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Global: Governance Risk and Compliance Platform (Government) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Global: Governance Risk and Compliance Platform (Healthcare) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Global: Governance Risk and Compliance Platform (Healthcare) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Global: Governance Risk and Compliance Platform (Manufacturing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Global: Governance Risk and Compliance Platform (Manufacturing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Global: Governance Risk and Compliance Platform (Retail and Consumer Goods) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Global: Governance Risk and Compliance Platform (Retail and Consumer Goods) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Global: Governance Risk and Compliance Platform (Telecom and IT) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Global: Governance Risk and Compliance Platform (Telecom and IT) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Global: Governance Risk and Compliance Platform (Transportation and Logistics) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Global: Governance Risk and Compliance Platform (Transportation and Logistics) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Global: Governance Risk and Compliance Platform (Other Industry Verticals) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Global: Governance Risk and Compliance Platform (Other Industry Verticals) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: North America: Governance Risk and Compliance Platform Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: North America: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Europe: Governance Risk and Compliance Platform Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Europe: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Asia Pacific: Governance Risk and Compliance Platform Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Asia Pacific: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Middle East and Africa: Governance Risk and Compliance Platform Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Middle East and Africa: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Latin America: Governance Risk and Compliance Platform Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Latin America: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million USD), 2025-2033
List of Tables
- Table 1: Global: Governance Risk and Compliance Platform Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Deployment Model (in Million USD), 2025-2033
- Table 3: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Solution (in Million USD), 2025-2033
- Table 4: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Component (in Million USD), 2025-2033
- Table 5: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Service (in Million USD), 2025-2033
- Table 6: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by End-User (in Million USD), 2025-2033
- Table 7: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Industry Vertical (in Million USD), 2025-2033
- Table 8: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 9: Global: Governance Risk and Compliance Platform Market Structure
- Table 10: Global: Governance Risk and Compliance Platform Market: Key Players
