Enterprise Governance Risk and Compliance (e-GRC) Market Forecast up to 2023

  • November, 2018
  • Domain: ICT - Security
Pages: 83
Tables: 37
Charts: 49
Regions/Countries: 4 / 0
Companies: 6
Enquiry Hours: 10
  • Get Free 10% Customization in this Report

The Organizations are moving toward technology-driven best practices for their GRC programs to comply with the internal and external compliance mandates. The enterprise governance, risk, and compliance (eGRC) solutions and services enable organizations to comply with policy guidelines and government regulations, thereby safeguarding the company’s brand image and reducing risks while pursuing their desired business objectives. Additionally, with an increasingly volatile and dynamic market environment, organizations need to ensure their GRC programs are effective and scalable to meet the constantly evolving regulatory guidelines.

BWise Nasdaq, SAP, Enablon (Wolters Kluwer), SAI Global, MetricStream, LogicManager, Protiviti, Rsam, Dell-RSA, FIS, Thomson Reuters, Ideagen, Resolver, Oracle, and SAS Institute are few of the leading vendors of GRC software and services analyzed for this study. Incident reporting, risk, compliance, policy, and audit management, along with third-party risk management are the core constituents of the overall GRC solution suite for due diligence on business continuity. The risk management software, comprising of various critical risk analytics and subsequent risk mitigation functionalities, essentially formulates the principal segment among the eGRC software tools. The policy management software segment, which essentially creates an integrated and automated approach toward aligning all business policies and workflows for establishing best practices within an organization, is increasingly becoming a focal point for all GRC programs.

Market Analysis

According to Infoholic Research, the global enterprise governance, risk, and compliance (eGRC) market is projected to grow at a CAGR of 13.9% during the forecast period. Increasing need to mitigate risks from siloed and disillusioned digital strategies and stringent regulations for data privacy and security are the key factors driving the market.

Market Segmentation Analysis

The report provides a wide-ranging evaluation of the market. It provides in-depth qualitative insights, historical data, and supportable projections and assumptions about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor’s portfolio, blogs, whitepapers, and vendor presentations. Thus, the research report represents every side of the market and is segmented based on regional markets, offerings, and application areas across diverse end-use verticals.

Competitive Analysis

The report covers and analyzes the key vendors in the enterprise governance, risk, and compliance (eGRC) market. The various organic, as well as inorganic growth strategies such as mergers & acquisitions, collaboration & partnerships, joint ventures, and a few other strategies, have been analyzed to establish their relevance to the market.

The report contains an in-depth analysis of the vendors profile, including recent developments and key product offerings that are pertinent to the market. The prominent vendors profiled in the study include BWise Nasdaq, SAP, Enablon (Wolters Kluwer), SAI Global, MetricStream, and LogicManager. There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, customer reviews, and significant investments in R&D, for analysis of the entire ecosystem.

The report also includes the complete insight of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and to take informed decisions.

Regional Analysis

Europe and North America are the leading geographies in the eGRC market in terms of current market spend. However, the fast-emerging competitive economies across Asia Pacific (APAC) and Rest of the World (ROW) are projected to proliferate during the forecast period especially as a result of the extremely competitive business setting in these regions.

Benefits

The report provides an in-depth analysis of the global enterprise governance, risk, and compliance (eGRC) market. The increasingly competitive market environment with growing vulnerabilities from widespread digital transformation initiatives represents a growing need for constant technology development and upgradation from prominent technology vendors in the market. The eGRC software and services aim at highlighting operational silos and alerting imminent risks by cohesive due-diligence on existing vulnerabilities, thereby creating a congenial and sustainable business environment. This report is directed to address opportunities for almost all key stakeholders including


  • Application developers and solution vendors

  • System integrators and resellers

  • Professional training providers

  • Managed service providers

  • IT governance consultants, auditors, and managers

  • End-users – consumers/enterprise users


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Available Customization

The following customization options are available for this report:

 


  • Trends for other verticals: including energy and utilities, food and beverages, chemicals, education, and automotive

  • Country-specific trends and market analysis

  • Region-specific – Middle East eGRC market analysis

  • Additional company profiles


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Apart from this, with the existing market analysis, Infoholic Research can also offer a wide array of custom-tailored studies as per the company’s specific needs.

 

1     Report Outline 

1.1        Research Objective

1.2        Key Stakeholders

1.3        Market Definition and Scope

1.4        Report Assumptions and Methodology

2     Market Snapshot 

2.1        Executive Summary

2.2        Related Markets

2.2.1     Cyber Security

2.2.2     Digital Transformation

2.2.3     Artificial Intelligence

2.2.4     RegTech

3     Market Outlook 

3.1        Market Evolution

3.2        Key Influential Trends

3.3        Future Scope in Global Markets

3.4        Market Dynamics

3.4.1     Drivers

3.4.1.1 Need to govern increasing digital platforms

3.4.1.2 Mitigate risks of siloed and disillusioned digital strategies

3.4.1.1 Stringent regulations to maintain compliance and data privacy

3.4.2     Restraints

3.4.2.1 Dynamic regulations and limitations of “one-size-fits-all”

3.4.2.2 Vulnerabilities in AI-driven compliance monitoring and risk assessment platforms

3.4.3     Opportunities

3.4.3.1 Automated risk mitigation and compliance solutions

3.4.4     DRO – Impact Analysis

4     Market Characteristics 

4.1        Standards and Regulations

4.1.1     GDPR Compliance

4.1.2     HIPAA Compliance

4.1.3     PCI Compliance

4.1.4     Sarbanes Oxley Act

4.2        Evolving Best Practices

4.2.1     Robust Data-driven GRC Practice

4.2.2     Integrated GRC Approach

5     Components: Market Size and Analysis 

5.1        Overview

5.2        Software

5.2.1     Incident Reporting (Record Management)

5.2.2     Risk Management (Mitigation)

5.2.3     Compliance (Regulatory Change) Management

5.2.4     Policy Management

5.2.5     Internal Audit Management

5.2.6     Third-party (Vendor Risk) Management

5.3        Services

5.3.1     Training

5.3.2     Support

6     Deployment Type: Market Size and Analysis 

6.1        Overview

6.2        Cloud (SaaS)

6.3        On-premise

7     Business Functions: Market Size and Analysis 

7.1        Overview

7.2        Finance

7.2.1     Finance: eGRC Market Analysis by Region

7.3        IT

7.3.1     IT eGRC Market Analysis by Region

7.4        Others

8     Verticals: Market Size and Analysis 

8.1        Overview

8.2        BFSI

8.3        Healthcare

8.4        Manufacturing

8.5        Telecom

8.6        Others

9     Regions: Market Size and Analysis 

9.1        Overview

9.2        North America

9.2.1     Market Forecast by Component

9.2.1.1 Software

9.2.1.2 Services

9.2.2     Market Forecast by Deployment Type

9.2.3     Market Forecast by Business Function

9.2.4     Market Forecast by Vertical

9.3        Europe

9.3.1     Market Forecast by Component

9.3.1.1 Software

9.3.1.2 Services

9.3.2     Market Forecast by Deployment Type

9.3.3     Market Forecast by Business Function

9.3.4     Market Forecast by Vertical

9.4        Asia Pacific (APAC)

9.4.1     Market Forecast by Component

9.4.1.1 Software

9.4.1.2 Services

9.4.2     Market Forecast by Deployment Type

9.4.3     Market Forecast by Business Function

9.4.4     Market Forecast by Vertical

10  Competitive Landscape 

 

11  Key Vendors 

11.1     BWise (Nasdaq)

11.1.1  Overview

11.1.2  Offerings

11.1.3  Recent Developments

11.1.4  Analyst View

11.2     Enablon (Wolters Kluwer)

11.2.1  Overview

11.2.2  Offerings

11.2.3  Recent Developments

11.2.4  Analyst View

11.3     LogicManager

11.3.1  Overview

11.3.2  Offerings

11.3.3  Analyst View

11.4     MetricStream

11.4.1  Overview

11.4.2  Offerings

11.4.3  Recent Developments

11.4.4  Analyst View

11.5     SAI Global

11.5.1  Overview

11.5.2  Offerings

11.5.3  Recent Developments

11.5.4  Analyst View

11.6     SAP

11.6.1  Overview

11.6.2  Offerings

11.6.3  Recent Developments

11.6.4  Analyst View

12  Annexure 

12.1     Abbreviations

12.2      Additional Customizations

Research Framework

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

Market related information is congregated from both primary and secondary sources.

Primary 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.

Secondary sources

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.

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