PUBLISHER: The Business Research Company | PRODUCT CODE: 1675231
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675231
Enterprise governance, risk, and compliance (eGRC) involve strategies used by enterprises to manage governance, corporate compliance, and enterprise risk management while adhering to applicable regulations and maintaining business objectives. eGRC supports the achievement of goals through workflow automation, ensuring adherence to government regulations and internal controls company-wide.
The key elements of the enterprise governance, risk, and compliance (eGRC) market include software and services. Software comprises a set of instructions, data, or programs designed to operate a computer and perform specific tasks. Organizations are categorized based on size, with distinctions between large enterprises and small and medium enterprises. Deployment options encompass both cloud-based and on-premises solutions. The eGRC market caters to various verticals, including BFSI, healthcare, government, energy and utilities, manufacturing, retail and consumer goods, telecom and IT, and other sectors.
The enterprise governance, risk and compliance (eGRC) market research report is one of a series of new reports from The Business Research Company that provides eGRC market statistics, including eGRC industry global market size, regional shares, competitors with a eGRC market share, detailed eGRC market segments, market trends and opportunities, and any further data you may need to thrive in the eGRC industry. This eGRC market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The enterprise governance, risk and compliance (eGRC) market size has grown rapidly in recent years. It will grow from $40.62 billion in 2024 to $45.65 billion in 2025 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to risk management requirements, data security concerns, globalization challenges, audit and accountability needs, operational efficiency.
The enterprise governance, risk and compliance (eGRC) market size is expected to see rapid growth in the next few years. It will grow to $83.78 billion in 2029 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to cybersecurity threat landscape, climate and sustainability considerations, real-time monitoring and reporting, resilience planning. Major trends in the forecast period include regulatory technology (regtech) evolution, advanced analytics and AI, technology integration, emphasis on cybersecurity risk, regulatory technology (regtech) integration.
The rising frequency of cyber-attack incidents is anticipated to drive the growth of the enterprise governance, risk, and compliance (eGRC) market in the future. A cyber-attack refers to any attempt to gain unauthorized access to a computer, computing system, or computer network with the intent to inflict damage. Organizations worldwide are increasingly adopting eGRC solutions to take advantage of various features such as risk and compliance management, business resiliency applications, and financial audit management. For example, in April 2024, reports from The Department for Science, Innovation, and Technology, a UK-based government department, estimated that UK businesses encountered approximately 7.78 million cybercrimes of different types and about 116,000 non-phishing cybercrimes in 2023. For UK charities, the estimate is roughly 924,000 cybercrimes across all categories during the same period. Therefore, the rising incidence of cyber-attacks is fueling the growth of the enterprise governance, risk, and compliance (eGRC) market.
The enterprise governance, risk, and compliance (eGRC) market is expected to experience substantial growth, driven by increased demand from the banking, financial services, and insurance (BFSI) segment. The term BFSI encompasses institutions and organizations offering a diverse range of financial products and services, including banking operations, investment management, and insurance coverage. In the BFSI sector, eGRC practices play a crucial role in ensuring effective management of business activities, supervision, and compliance with regulatory requirements. These practices contribute to operational transparency, risk mitigation, and regulatory compliance, safeguarding financial stability and enhancing overall corporate governance. As an example, in March 2022, Monster.com reported a remarkable 27% growth in the BFSI industry in India in February 2022. This growth was attributed to the rapid adoption of digital payments and cutting-edge technologies such as AI, ML, and blockchain, underscoring the necessity for robust enterprise governance, risk, and compliance (eGRC) measures. Consequently, the substantial demand from the banking, financial services, and insurance (BFSI) segment is a key driver of the enterprise governance, risk, and compliance (eGRC) market.
Technological advancements are emerging as a prominent trend in the enterprise governance, risk, and compliance (eGRC) market. Leading companies in this sector are channeling their efforts into developing innovative technological solutions to fortify their market positions. For instance, in January 2022, MetricStream, a US-based software company specializing in integrated risk management (IRM) and governance, risk, and compliance (GRC), introduced ConnectedGRC-a solution embedded with AI (artificial intelligence), deep domain capabilities, and risk quantification capabilities. This launch aims to address pressing business challenges related to risk, compliance, audit, cyber risks, and environmental, social, and governance (ESG). MetricStream's integrated GRC software enables professionals to collaborate more effectively, share information, and manage risk quantitatively. ConnectedGRC encompasses three distinct product lines: BusinessGRC, CyberGRC, and ESGRC.
Leading companies in the enterprise governance, risk, and compliance (eGRC) market are developing user-friendly interfaces to improve usability and accessibility. eGRC platforms are increasingly focusing on intuitive designs and simplified navigation to streamline compliance processes and enhance risk management. For example, in April 2023, Quantivate, a U.S.-based software company, introduced Quantivate Now, an advanced governance, risk, and compliance (GRC) solution. Quantivate Now offers organizations a comprehensive platform for managing governance, risk, and compliance activities in real-time. This solution features a user-friendly interface that allows teams to navigate easily through risk assessments, regulatory requirements, and policy management. With integrated analytics and reporting capabilities, Quantivate Now enables organizations to gain actionable insights into their risk landscape, improve collaboration among stakeholders, and ensure compliance with obligations.
In March 2022, Riskonnect Inc., a US-based company offering integrated risk management (IRM) solutions, made an undisclosed acquisition of Sword GRC. Through this strategic move, Riskonnect Inc. intends to expand its presence into new significant verticals and geographic markets. Sword GRC, also based in the US, is a software company with expertise in providing project and enterprise risk management solutions.
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.
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.
The countries covered in the enterprise governance, risk and compliance (egrc) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The enterprise governance, risk, and compliance (eGRC) market consist of revenues earned by entities by providing compliance management and audit management. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Enterprise Governance, Risk and Compliance (eGRC) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on enterprise governance, risk and compliance (egrc) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for enterprise governance, risk and compliance (egrc) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The enterprise governance, risk and compliance (egrc) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.