Enterprise Governance, Risk, and Compliance Market Report and Forecast 2025-2034

The global enterprise governance, risk, and compliance market attained a value of more than USD 51.21 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 13.70% to reach over USD 184.91 Billion by 2034.

BFSI Segment to Augment the Enterprise Governance, Risk, and Compliance Industry Growth

The BFSI (banking, financial services, and insurance) sector is projected to occupy a substantial market share in the enterprise governance, risk, and compliance industry during the forecast period. Enterprise governance, risk, and compliance is essential for successful risk management because it recognises potential threats to customers and third parties across all lines of business and operations in the BFSI industry. Major banks and financial institutions observed a significant increase in phishing and other associated attacks. Furthermore, Mexico experienced a significant rise in banking trojans, ransomware attacks, point-of-sale malware, ATM exploitation, and customer scamming in the historical period. The rise in these issues galvanised banks and financial institutions to utilise analytics to detect any entity-level linkages and monitor suspicious activities of different linked accounts used for illegal activities. Hence, large investments were made by banks and financial institutions which made a positive impact on the growth of the industry.

North America to Provide Significant Growth Opportunities to the Enterprise Governance, Risk, and Compliance Industry

Geographically, North America accounts for a significant share in the industry owing to the early adoption of innovative technologies and the presence of prominent key players within the region. The demand for enterprise governance, risk, and compliance is one of the highest in the United States because of strict corporate governance regulations. Furthermore, the increased application of cloud computing and the growing risk of cyber-attacks within the region are aiding the industry. Meanwhile, the rapidly advancing IT infrastructure and the necessity to address internal and external business risks are also driving the enterprise governance, risk, and compliance industry.

Enterprise Governance, Risk, and Compliance: Market Segmentation

Enterprise governance, risk, and compliance, often abbreviated as eGRC, is an organisational strategy that addresses governance, risk management, and compliance by creating policies, procedures, regulatory controls, risk assessment, risk monitoring, and internal controls. It enables organisations to achieve their targeted goals through workflow automation while adhering to policy standards and regulatory requirements, as a result eliminating financial risks and protecting the organisation's brand image.

By component, the market is divided into:

• Software
• Services

Based on software, the industry can be segmented into:

• Audit Management
• Compliance Management
• Risk Management
• Policy Management
• Incident Management
• Others

By services, the industry can be categorised into:

• Integration
• Consulting
• Support

Based on enterprise size, the industry can be segmented into:

• Small and Medium Enterprise (SME)
• Large Enterprise

On the basis of industry vertical, the industry can be categorised into:

• BFSI
• Construction and Engineering
• Energy and Utilities
• Government
• Healthcare
• Manufacturing
• Retail and Consumer Goods
• Telecom and IT
• Transportation and Logistics
• Others

On the basis of region, the industry can be categorised into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Integration of Technology to Bolster the Growth of the Enterprise Governance, Risk, and Compliance Industry

The global enterprise governance, risk, and compliance industry is being driven by the integration of technologies like artificial intelligence (AI), internet of things (IoT), machine learning (ML), and cloud computing, enhancing the traditional software solutions and services. Additionally, the AI-enabled enterprise governance, risk, and compliance solutions are highly adopted across organisations because they offer effective analytical features. Furthermore, the AI-enabled solutions help organisations and governments to regularly deal with the enormous data processing volumes. These solutions offer features such as process optimisation, cost reduction, and improved effectiveness. Over the forecast period, the growing integration of technologies like artificial intelligence and machine learning owing to the rapid digitalisation across industry verticals is expected to significantly contribute to the market growth.

Key Industry Players in the Global Enterprise Governance, Risk, and Compliance Market

The report gives a detailed analysis of the following key players in the global enterprise governance, risk, and compliance market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• BWise
• Dell EMC
• Microsoft Corporation
• IBM Corporation
• Maclear
• MetricStream,Inc
• Others

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

The increasing adoption by various companies of compliance and risk management solutions is expected to be the key growth driver for the eGRC market.