Europe Enterprise Governance Risk and Compliance (e-GRC) Market Forecast 2019–2025
- Domain: ICT - Security
Enterprise governance risk and compliance includes a broad range of solutions that enable companies to efficiently manage issues regarding corporate compliance, enterprise risk, corporate governance, and other regulatory requirements. e-GRC defines how an organization addresses & manages risk and handles governance by creating standardized policies, regulatory controls, risk monitoring, risk assessment, and other internal controls that employees must follow. The market for overall GRC is expected to witness significant growth in the coming years as organizations are losing millions of dollars as penalties for non-compliance as well as thousands of dollars due to business losses from various vulnerabilities.
Market Dynamics – Europe Enterprise Governance Risk and Compliance Market
With the increase in connected enterprises, devices, and applications, businesses are becoming more vulnerable to external threats (connected devices, mostly the endpoint devices of consumers or employees (BYOD)). As a result, companies are increasingly investing in framing standardized policies and procedures to enhance the security and data privacy, which is, in turn, contributing to the growth of the Europe enterprise governance risk and compliance market. Increasing government initiatives toward data security has led to stringent laws and regulations for the organizations. Moreover, the penalty value for non-compliance is increasing year on year; as a result, companies are increasingly relying on advanced software tools for managing risk and compliance. These factors are expected to propel the growth of the Europe enterprise governance risk and compliance market during the forecast period.
Increasing investment in process optimization to eliminate irrelevant tasks and automate the redundant ones along with the growing focus on automation solutions to minimize errors and operating costs are further accelerating the growth of the Europe enterprise governance risk and compliance market. Additionally, continuous progression of blockchain technology and the rising interest on blockchain technology and machine learning solutions in GRC are expected to offer new business opportunities for vendors present in the Europe enterprise governance risk and compliance market.
Market Segmentation – Europe Enterprise Governance Risk and Compliance Market
The Europe enterprise governance risk and compliance market are segmented based on components, deployment type, business functions, verticals, and country. Based on components, the Europe enterprise governance risk and compliance market are segmented into software and services. The software segment is sub-segmented into incident reporting (record management), risk management (mitigation), compliance (regulatory change) management, policy management, internal audit management, and third-party (vendor risk) management. The services segment is sub-segmented into training and support. Based on the deployment type, the Europe enterprise governance risk and compliance market is segmented into cloud (SaaS) and on-premise. Based on business functions, the Europe enterprise governance risk and compliance market are segmented into finance, IT, and others.
Country-level Outlook – Europe Enterprise Governance Risk and Compliance Market
In terms of country-wise analysis, the Europe enterprise governance risk and compliance market is segmented into Germany, UK, France, Italy, Netherlands, Spain, and Rest of Europe (RoE). Among these countries, Germany dominates the Europe enterprise governance risk and compliance market and is anticipated to maintain its market dominance throughout the forecast period. This is majorly due to stringent regulations to maintain compliance and data privacy and increasing investment in creating risk mitigation and compliance management infrastructure.
Benefits and Vendors – Europe Enterprise Governance Risk and Compliance Market
The study on the Europe enterprise governance risk and compliance market contains an in-depth analysis of vendors, which includes financial health, business units, key business priorities, SWOT, strategies, and views, and competitive landscape. Few of the key players profiled in this study include SAP, IBM, Microsoft, BWise, RSA Security LLC, Wolters Kluwer, Software AG, Ideagen, GB Group plc, and MEGA International.
The study offers a comprehensive analysis of the “Europe enterprise governance risk and compliance market”. Bringing out the complete key insights of the industry, the report aims to provide an insight into the latest trends, current market scenario, and technologies related to the market. In addition, it helps the venture capitalists to understand the revenue opportunities across different segments to take better decisions.
- Report Outline
- Research Objective
- Key Stakeholders
- Market Definition and Scope
- Report Assumptions and Methodology
- Market Snapshot
- Executive Summary
- Related Markets
- Cyber Security
- Digital Transformation
- Artificial Intelligence
- Market Outlook
- Market Evolution
- Key Influential Trends
- Future Scope in Global Markets
- Market Dynamics
- DRO – Impact Analysis
- Market Characteristics
- Standards and Regulations
- GDPR Compliance
- PCI Compliance
- Sarbanes Oxley Act
- Evolving Best Practices
- Robust Data-driven GRC Practice
- Integrated GRC Approach
- Standards and Regulations
- Components: Market Size and Analysis
- Incident Reporting (Record Management)
- Risk Management (Mitigation)
- Compliance (Regulatory Change) Management
- Policy Management
- Internal Audit Management
- Third-party (Vendor Risk) Management
- Deployment Type: Market Size and Analysis
- Cloud (SaaS)
- Business Functions: Market Size and Analysis
- Finance eGRC Market Analysis by Region
- IT eGRC Market Analysis by Region
- Verticals: Market Size and Analysis
- Country: Market Size and Analysis
- Rest of Europe (RoE)
- Competitive Landscape
- Key Vendors
- RSA Security LLC
- Wolters Kluwer
- Software AG
- GB Group plc
- MEGA International
- Additional Customizations
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- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.