Global eGRC Market to Reach $51.5 Billion by 2024 - Increasing Investment in AI-enabled eGRC Solutions Presents Opportunities

Dublin, July 12, 2019 (GLOBE NEWSWIRE) -- The "eGRC Market by Component (Software and Services), Software, Type (Policy Management, Compliance Management, Audit Management, Incident Management, and Risk Management), Business Function, Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global eGRC (Enterprises, Governance, Risk and Compliance) market size is expected to grow from USD 31.5 billion in 2019 to USD 51.5 billion by 2024, at a CAGR of 10.3% during the forecast period.

The major factors fueling the market growth include the growing need to meet stringent compliance mandates and get a holistic view of policy, risk and compliance data, and increasing data and security breaches. Moreover, the varying structure of regulatory policies may restraint the growth of the market to a certain extent during the forecast period.

Services segment to grow at a higher CAGR during the forecast period

On the basis of components, the eGRC market is segmented into software and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth of the services segment is attributed to the growing need to support the adoption of eGRC solutions across industries. The services are becoming critical for the successful implementation and smooth running of eGRC solutions. Hence, the demand for various services such as training, consulting, and support is expected to increase in the eGRC market.

Finance segment to grow at the highest CAGR during the forecast period

The eGRC market, on the basis of business functions, has been segmented into finance, Information Technology (IT), legal, and operations. The growth of the finance segment is attributed to the growing need for improving performance, streamlining business processes, reducing costs, and enhancing profit margins. Finance, being one of the internal functions of an organization, has to comply with various norms such as Sarbanes-Oxley, Basel II, Solvency II, and Dodd-Frank, which contribute to the increasing adoption of eGRC solutions.

Organizations across the region are looking for a framework that can help them effectively manage their Governance Risk Compliance (GRC) programs, as traditional methods are no longer adequate to manage and mitigate advanced cyberattacks, and manage compliances and risks. Therefore, industries across the region are focusing on the integration of eGRC solutions with their operations.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Microquadrant Research Methodology
2.4 Research Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the eGRC Market
4.2 eGRC Market, By Vertical, 2017-2022
4.3 Lifecycle Analysis, By Region, 2017-2022

5 Market Overview
5.1 Introduction
5.2 Financial Acts and Regulations
5.3 Non-Financial Acts and Regulation
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Regulatory and Compliance Mandates
5.4.1.2 Rising Business Collaborations
5.4.1.3 Increasing Use of Data
5.4.2 Restraints
5.4.2.1 Changing Structure of Regulatory Policies
5.4.3 Opportunities
5.4.3.1 Growing Market for Cloud-Based Businesses
5.4.3.2 Increasing Investment in Artificial Intelligence Enabled eGRC Solutions
5.4.4 Challenges
5.4.4.1 Providing a Holistic eGRC Solution
5.4.4.2 Complexities Regarding Governing Security Across Byod and Cloud Platform

6 eGRC Market Analysis, By Component
6.1 Introduction
6.2 Software
6.2.1 Software Usage
6.2.1.1 Internal
6.2.1.2 External
6.2.2 Software Type
6.2.2.1 Policy Management
6.2.2.2 Compliance Management
6.2.2.3 Audit Management
6.2.2.4 Incident Management
6.2.2.5 Risk Management
6.2.2.6 Others
6.3 Services
6.3.1 Training and Consulting
6.3.2 Support
6.3.3 Integration

7 eGRC Market Analysis, By Deployment Mode
7.1 Introduction
7.2 Cloud
7.3 On-Premises

8 eGRC Market Analysis, By Organization Size
8.1 Introduction
8.2 Enterprises
8.3 Small and Medium-Sized Businesses

9 eGRC Market Analysis, By Business Function
9.1 Introduction
9.2 Finance
9.3 Information Technology (IT)
9.4 Legal
9.5 Operations

10 eGRC Market Analysis, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance (BFSI)
10.3 Construction and Engineering
10.4 Energy and Utility
10.5 Government
10.6 Healthcare
10.7 Manufacturing
10.8 Mining and Natural Resources
10.9 Retail and Consumer Goods
10.10 Telecom and IT
10.11 Transportation and Logistics
10.12 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America

12 Competitive Landscape
12.1 Microquadrant Overview
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Competitive Benchmarking
12.2.1 Business Strategies Adopted by the Major Players in the eGRC Market
12.2.2 Analysis of Product Portfolio of the Major Players in the eGRC Market

13 Company Profiles
13.1 International Business Machine Corporation
13.1.1 Overview
13.1.2 Product Offering Scorecard
13.1.3 Business Strategy Scorecard
13.1.4 Recent Developments
13.2 Microsoft
13.3 SAP SE
13.4 SAS Institute Inc.
13.5 Oracle
13.6 Bwise
13.7 Fidelity National Information Services Inc. (FIS)
13.8 Wolters Kluwer
13.9 Metricstream Inc.
13.10 Thomson Reuters
13.11 EMC Corporation

For more information about this report visit https://www.researchandmarkets.com/r/8j68i2

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