Worldwide eGRC Market Size to Touch USD 75.24 Billion by 2028; eGRC Market Share [2021-2028]

Posted on May 24 2022 8:59 AM

"Enterprise Governance, Risk, and Compliance (eGRC) Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment Model (Cloud-based, On-premise), By Organization Size (Large Enterprises, and Small and Medium Enterprises (SMEs)), By Vertical (BFSI, Healthcare, Government, Energy & Utilities, Manufacturing, Retail & Consumer Goods, Telecom & IT, and Others), and Regional Forecast, 2021-2028 "

The global “eGRC Market 2022” is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "eGRC Market Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. The global egrc market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 14% during the forecast period, to Reach USD 75.24 Billion by 2028, from USD 27.01 Billion in 2020

The report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the eGRC Market share, types, applications, growth factor, key players and regions.

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eGRC Market Size Overview:

  • USD 75.24 Billion in 2028
  • USD 27.01 Billion in 2020
  • CAGR: (2021-2028) 14%
  • Base Year: 2020

Extensive Benefits of AI-enabled eGRC Solutions to Stoke Adoption

The enterprise governance, risk, and compliance market growth is slated to get propelled by the integration of smart technologies such as artificial intelligence (AI) and machine learning (ML) in eGRC systems. According to a joint report by SAP and the University of Applied Sciences, Berlin, embedding GRC solutions with AI will bring about profound changes in business operations, enabling managers to analyze risks and compliance and governance dynamics based on hardcore data. For example, the report observes that as AI becomes more prevalent in businesses, fraud examiners will be able to perform fraud assessments and design and develop key performance indicators (KPIs) to prevent future frauds. Moreover, AI-enabled eGRC will automate regulatory adherence reports and compliance managers will be able to detect external and internal dangers to the enterprise as well as efficiently manage cyber-crime threats to the organizational data. Thus, the emergence of AI-powered eGRC systems has put business process automation on the cusp of a revolution.

eGRC Market: Competitive Landscape and Key Developments

• Origami Risk (Illinois, United States)

• Blue Umbrella Limited (Quarry Bay, Hong Kong)

• Tevora (California, United States)

• LogicManager (Massachusetts, United States)

• SAI Global (Illinois, United States)

• Software AG (Darmstadt, Germany)

• BWise (New York, United States)

• Wolters Kluwer N.V. (Alphen aan den Rijn, Netherlands)

• SAP SE (Weinheim, Germany)

• IBM Corporation (New York, United States)

• Riskonnect, Inc. (Georgia, United States)

• OneTrust, LLC (Georgia, United States)

• Ideagen Plc (Nottingham, United Kingdom)

• NAVEX Global, Inc. (Oregon, United States)

• Dell Technologies (Texas, United States)

• Infosys Limited (Bengaluru, India)

• MetricStream Inc. (California, United States)

• Thomson Reuters Corporation (Toronto, Canada)

• Microsoft Corporation (New Mexico, United States)

• SAS Institute (North Carolina, United States)

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eGRC Market 2022 Regional Analysis:

Moreover, This report focuses on eGRC Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2029, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.

The eGRC Market Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

eGRC Market Segments:

By Component

  • Solutions
    • Building Infrastructure Management
      • Parking Management System
      • Smart Water Management System
      • Elevators and Escalators System
    • Security and Emergency Management
      • Access Control System
      • Video Surveillance System
      • Safety System
    • Energy Management
      • HVAC Control System
      • Lighting Control System
  • Services
    • System Integration and Deployment
    • Support and Maintenance
    • Consulting

By Application

  • Residential
  • Commercial

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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