Friday 22 July 2016, Amsterdam
The report, now available on ASDReports, "Enterprise Governance, Risk, and Compliance (eGRC) Market by Component (Software (Type & Usage), Service), Deployment Model (Cloud & On-Premise), Organization Size, Business Function (Finance, IT, Legal, & Operations), & Vertical - Global Forecast to 2021", The eGRC market size is expected to grow from USD 19.42 Billion in 2016 to USD 38.00 Billion by 2021, at a CAGR of 14.4%.Continuous changes in corporate and government regulations, increase in the number of industries, growing business partnerships and associations are some of the major driving factors for the eGRC market. Furthermore, investments in resources, tools, and skills to manage compliance and rise in software-enabled businesses are expected to provide opportunities for the growth of eGRC market.Risk management and audit management are expected to be the largest contributor in the global eGRC market during the forecast period
Organizations are continuously under the risk of paying non-compliance penalty, financial crisis from mismanagement of financial control, and asset loss due to unexpected natural calamities. These risks need to be analyzed and monitored in order to plan further action. Risk management solutions enable organizations to extract a better picture of their enterprise risks. Risk management will be crucial in the years to come and is hence expected to contribute the highest in the overall revenue generation for eGRC market during the forecast period.The integration services segment is expected to show significant growth rate during the forecast period
The demand for services is increasing along with the growth of the eGRC market. Integration services segment is expected to grow at the highest CAGR in the eGRC market owing to the need to deploy GRC solutions either on cloud or on-premises. Solutions offered by vendors need to be efficiently integrated to avail industry best practices from GRC solutions.With increasing number of IT industries in the countries of APAC, the region is expected to witness the highest growth rate during the forecast period
Many countries in APAC are witnessing an increase in the number of IT industries. This is expected to boost the eGRC market with the increasing need to streamline IT infrastructure and manage compliance with complex regulations for IT industries.
EMC Corporation (Massachusetts, U.S.), IBM (New York, U.S.), Microsoft Corporation (Washington, U.S.), Oracle Corporation (California, U.S.), BWise (Rosmalen, the Netherlands), MetricStream (California. U.S.), SAI Global (Sydney, Australia), SAS (North Carolina, U.S.), and Thomson Reuters (New York, U.S.) are identified as leaders in the eGRC market, whereas Mega (Paris, France), RSAM (New Jersey, U.S.), LogicManager (Massachusetts, U.S.), Cura Technologies (Hyderabad, India), and ProcessGene (Israel) are identified as key innovators in the market. Also, Deloitte (New York, U.S.), Modulo (Rio de Janeiro, Brazil), PwC (London, U.K.), Fidelity National Information Service (Florida, U.S.), and Protiviti (California, U.S.) are identified as key consulting service providers.
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