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Global Enterprise Governance, Risk, and Compliance Market Report and Forecast 2024-2032

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    Report

  • 180 Pages
  • November 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921347
According to the report, the global enterprise governance, risk, and compliance market is projected to grow at a CAGR of 13.7% between 2024 and 2032 reaching a value of approximate USD 154.62 billion by 2032. Aided by the increasing demand for EGRC from various sectors, the market is expected to grow significantly by 2032.

Enterprise Governance, Risk, and Compliance represent a structured approach enabling organisations to align their business objectives with regulations, manage risks effectively, and achieve operational excellence. In an era marked by rapidly evolving regulatory landscapes and increasing business complexities, EGRC solutions have become indispensable for organisations across various sectors.

The burgeoning necessity to comply with regulatory standards and mitigate risks efficiently is propelling the enterprise governance, risk, and compliance market growth. As organisations grapple with a multitude of regulations, the demand for comprehensive EGRC solutions that streamline compliance processes, manage risks, and deliver actionable insights is escalating.

Technological advancements play a pivotal role in the EGRC market's expansion. The integration of Artificial Intelligence (AI), Machine Learning (ML), and data analytics in EGRC solutions enhances their capability to predict risks, automate compliance processes, and offer real-time monitoring. This technological integration not only elevates operational efficiency but also offers a competitive edge to businesses.

Moreover, the increasing instances of cyber threats and data breaches have accentuated the need for robust EGRC solutions. As organisations strive to safeguard their digital assets and ensure data privacy, the adoption of EGRC solutions equipped with advanced security features is witnessing a significant surge.

The financial sector, in particular, is a major contributor to the enterprise governance, risk, and compliance market demand. Banks and financial institutions, facing stringent regulatory scrutiny, are increasingly adopting EGRC solutions to ensure compliance, manage risks, and maintain transparency in operations.

Additionally, industries such as healthcare, energy, and telecommunications, dealing with a complex array of regulations, are also key drivers for the EGRC market. The healthcare sector, for instance, requires stringent compliance with regulations like HIPAA, making EGRC solutions indispensable for managing compliance and mitigating risks effectively.

Geographically, North America holds a significant portion of the enterprise governance, risk, and compliance market share, attributed to the presence of a robust regulatory framework and the rapid adoption of advanced technologies in the region. The United States, in particular, is a significant market, with numerous organisations implementing EGRC solutions to navigate the complex regulatory environment.

Market Segmentation

The market can be divided based on component, software, services, enterprise size, industry vertical, and region.

Market Breakup by Component

  • Software
  • Services

Market Breakup by Software

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

Market Breakup by Services

  • Integration
  • Consulting
  • Support

Market Breakup by Enterprise Size

  • Small and Medium Enterprise (SME)
  • Large Enterprise

Market 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

Market Breakup by Region

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

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global enterprise governance, risk, and compliance market. Some of the major players explored in the report are as follows:
  • BWise
  • Dell EMC
  • Microsoft Corporation
  • IBM Corporation
  • Maclear
  • MetricStream, Inc.
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Enterprise Governance, Risk, and Compliance Market Analysis
8.1 Key Industry Highlights
8.2 Global Enterprise Governance, Risk, and Compliance Historical Market (2018-2023)
8.3 Global Enterprise Governance, Risk, and Compliance Market Forecast (2024-2032)
8.4 Global Enterprise Governance, Risk, and Compliance Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Enterprise Governance, Risk, and Compliance Market by Software
8.5.1 Audit Management
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Compliance Management
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Risk Management
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Policy Management
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Incident Management
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Enterprise Governance, Risk, and Compliance Market by Services
8.6.1 Integration
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Consulting
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Support
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Enterprise Governance, Risk, and Compliance Market by Enterprise Size
8.7.1 Small and Medium Enterprise (SME)
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Large Enterprise
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Enterprise Governance, Risk, and Compliance Market by Industry Vertical
8.8.1 BFSI
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Construction and Engineering
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Energy and Utilities
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Government
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Healthcare
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
8.8.6 Manufacturing
8.8.6.1 Historical Trend (2018-2023)
8.8.6.2 Forecast Trend (2024-2032)
8.8.7 Retail and Consumer Goods
8.8.7.1 Historical Trend (2018-2023)
8.8.7.2 Forecast Trend (2024-2032)
8.8.8 Telecom and IT
8.8.8.1 Historical Trend (2018-2023)
8.8.8.2 Forecast Trend (2024-2032)
8.8.9 Transportation and Logistics
8.8.9.1 Historical Trend (2018-2023)
8.8.9.2 Forecast Trend (2024-2032)
8.8.10 Others
8.9 Global Enterprise Governance, Risk, and Compliance Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America Enterprise Governance, Risk, and Compliance Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Enterprise Governance, Risk, and Compliance Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Enterprise Governance, Risk, and Compliance Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Enterprise Governance, Risk, and Compliance Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Enterprise Governance, Risk, and Compliance Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BWise
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Dell EMC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Microsoft Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 IBM Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Maclear
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 MetricStream, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Enterprise Governance, Risk, and Compliance Market: Key Industry Highlights, 2018 and 2032
2. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Software (USD Billion), 2018-2023
5. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Software (USD Billion), 2024-2032
6. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Services (USD Billion), 2018-2023
7. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Services (USD Billion), 2024-2032
8. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
9. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
10. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
11. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
12. Global Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Enterprise Governance, Risk, and Compliance Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Enterprise Governance, Risk, and Compliance Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Enterprise Governance, Risk, and Compliance Market Structure

Companies Mentioned

  • BWise
  • Dell EMC
  • Microsoft Corporation
  • IBM Corporation
  • Maclear
  • MetricStream Inc.

Methodology

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Table Information