The global eGRC market size is projected to grow from USD 1.3 billion in 2021 to USD 2.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.9% 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
Based on offering, 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, based on 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.
Among regions, Europe to grow at the highest CAGR during the forecast period Europe is expected to grow at the highest CAGR during the forecast period.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.
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, hedge fund managers, and executives from various key organizations operating in the eGRC market. • By Company: Tier I : 21% Tier II: 44%, and Tier III: 35% • By Designation: C-Level: 52%, Directors: 34%, and Others: 14% • By Region: North America: 40%, APAC: 20%, Europe: 30%, MEA: 5%, and Latin America: 5% The report includes the study of the key players offering eGRC solutions.Some of the major eGRC vendors are IBM (US), Microsoft (US), Oracle (US), SAP (Germany), SAS Institute (US), ServiceNow (US), Thomson Reuters (Canada), Wolters Kluwer (Netherlands), Dell EMC (US), FIS (US), Software AG (Germany), RSA Security (US), MEGA International (France), Ideagen (UK), Mphasis (India), MetricStream (US), Protiviti (US), SAI Global (US), ProcessGene (Israel), LogicManager (US), Quantivate (US), Riskonnect (US), NAVEX Global (US), Alyne(Germany), and Lexcomply (India),StandardFusion (Canada).
It includes an in-depth competitive analysis of the key players in the eGRC market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
Research coverage The report segments the global eGRC market by offering (software and services), software, deployment mode, organization size, business function, end user, and region.The eGRC market, by offering, is divided into software and services.
The deployment mode comprises cloud and on-premises.The organization size segment includes SMEs and large enterprises.
The business function segment is divided further into finance, IT, legal, and operations.The vertical segment consists of Banking, Financial Services, and Insurance (BFSI), telecommunication, energy and utilities, government, healthcare, and manufacturing, mining and natural resources, retail and consumer goods, IT, transportation and logistics, and others (construction and engineering, academia, media and entertainment, oil and gas, and tourism and hospitality).
The report also covers the eGRC market with respect to 5 major regions, namely, North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
The report would help the market leaders and new entrants in the global eGRC market in the following ways: 1. The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across verticals and regions. 2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities. 3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
Our reports have been used by over 10K customers, including:
In the post-COVID-19 scenario, the global secure access service edge (SASE) market size is projected to grow from USD 1.2 Billion in 2021 to USD 4.1 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 26.4% from 2021 to 2026. • By organization size, the large enterprises segment is expected to hold a larger market Large...
The global Log Management market size is expected to grow from USD 2.3 billion in 2021 to USD 4.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% from 2021 to 2026. The major factors fueling the Log Management market include increasing sophistication of cyberattacks necessitating log management for early detection of cyberattacks,...
The global bot security market size is projected to grow from USD 408 million in 2021 to USD 983 million by 2026, at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period. Major driving factors for the bot security market include rise in bad bot traffic; increasing sophistication of botnet attacks and loss of revenues for...
194 pages •
By Asia Market Information & Development Company
• Jul 2021
China’s demand for IT Security Software has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer...
The global railway cybersecurity market is estimated to grow at a CAGR of 9.4% from USD 6.2 billion in 2021 to USD 10.6 billion by 2027. Major factors driving the railway cybersecurity market include adoption of IoT as well as automation technologies to enhance efficiency in optimization of railways and increasing number of government initiatives...
In the post-COVID-19 scenario, the global cybersecurity market size is projected to grow from USD 217.9 Billion in 2021 to USD 345.4 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 9.7% from 2021 to 2026. The market’s growth can be attributed to the increasing awareness and rising investments in cybersecurity infrastructure...
87 pages •
By Asia Market Information & Development Company
• Jul 2021
This study focuses on China’s IT Security Software industry forecasts. In the two past decades, the industry has been growing at a fast pace. The dramatic expansions of the manufacturing capabilities and rising consumer consumptions in China have transformed China’s society and economy. China is one of the world’s...
The global MFA market size is projected to grow from USD 11.1 billion in 2021 to USD 23.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. Major driving factors for the MFA market include rise in security breaches, fraud, and data identity thefts, surge in use of BYOD/ IoT devices, high demand for...
Strong connection: Growing technology use has supported strong revenue expansion over the past five years Abstract IT Security Consulting in the UK This industry offers managed IT security services, such as firewall management, intrusion prevention, security threat analysis, proactive security vulnerability...
The cybersecurity market was valued at USD 156.24 billion in 2020, and it is expected to reach USD 352.25 billion by 2026, registering a CAGR of 14.5% during 2021-2026. The trends for IoT, BYOD, AI, and machine learning in cybersecurity are increasing. For instance, machine learning provides advantages in outlier detection, much to the benefit...
Number Of Enterprises
Number Of Small And Medium-Sized Enterprises
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.