Enterprise Governance, Risk & Compliance Market Worth $134.8 Billion By 2030

The global enterprise governance, risk & compliance market size is expected to reach USD 134.8 billion by 2030, expanding at a CAGR of 14.0% during the forecast period from 2022 to 2030. Growing data and security breaches, rising stringent compliance mandates, and integration of AI and blockchain technologies in GRC solutions are some of the driving factors of the global enterprise governance, risk & compliance market growth.

A wide number of businesses are adopting EGRC solutions for risk management optimization and fraud minimization to reduce financial losses. This deployment has significantly impacted the EGRC market in the past few years. The rapid growth of digital platforms plays a vital role in the EGRC market development. The evolving industries around the world demand transactions that are complex and detailed and have unlatched a broad scope for GRC market expansion. This has given rise to refined digital and analytical tools, including EGRC software.

The services segment is anticipated to register a healthy CAGR during the forecast period owing to the development of integration, advisory, and software-as-service solutions, paving the way for better implementation and performance. The PMS segment is also witnessing brisk changes due to the advancements and innovations, and finer technology-based services under EGRC solutions management. Major players are adopting strategies like partnerships, collaborations, acquisitions, and product developments and launches, to boost the value of their presence in the global market.

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Enterprise Governance, Risk & Compliance Market Report Highlights

• From 2022 to 2030 the large enterprises segment is projected to lead the market growth globally with a CAGR of over 10%

• Asia Pacific market is anticipated to grow substantially over the forthcoming years with leading countries like South Korea, Japan, Taiwan, Indonesia, and Vietnam contributing to the region’s growth

• March 2022 was marked by the launch of IBM OpenPages with Watson 8.3 from IBM which is an integrated GRC platform used for delivering task-focused user interface

Enterprise Governance, Risk & Compliance Market Segmentation

EGRC Component Outlook (Revenue, USD Million, 2018 - 2030)
• Software
• Services

EGRC Software Outlook (Revenue, USD Million, 2018 - 2030)
• Audit Management
• Compliance Management
• Risk Management
• Policy Management
• Incident Management
• Others

EGRC Services Outlook (Revenue, USD Million, 2018 - 2030)
• Integration
• Consulting
• Support

EGRC Organization Outlook (Revenue, USD Million, 2018 - 2030)
• Small and Medium Enterprise (SME)
• Large Enterprise

EGRC Vertical Outlook (Revenue, USD Million, 2018 - 2030)
• BFSI
• Construction & Engineering
• Energy & Utilities
• Government
• Healthcare
• Manufacturing
• Retail & Consumer Goods
• Telecom & IT
• Transportation & Logistics
• Others

EGRC Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players in the Enterprise Governance, Risk & Compliance Market
• Wolters Kluwer
• Thomson Reuters
• SAP SE
• MetricStream Inc.
• Bwise