"Stringent Corporate Governance Regulations to Stimulate the Demand for Enterprise Governance, Risk and Compliance (EGRC) Solutions"

Enterprise governance, risk and compliance market reached the market value of US$ 26.49 Bn in 2017, with CAGR of 10.08% during the forecast period from 2018 to 2026. Organizations are steadily facing increase in complexity and changing regulatory environment thereby are opting for more structured approach for managing governance, risks, and compliances. Government regulators continue to influence control upon organizational practices through tighter regulations and organizations are demanding stronger control within their alliances. The pace of regulatory change has put the emphasis on the ability of organizations to have EGRC system that can respond quickly to new requirements. An effective integrated EGRC platform enables the centralization of data gathering and reporting, that directs human capital resource shift towards strategic thinking and increasing business responsiveness to rapidly changing landscapes.

"Software Segment to Cement its Dominance in Enterprise Governance, Risk and Compliance Market"

Software segment represented the largest share in overall EGRC market value generated worldwide. Primary purpose of EGRC software is to automate much of the work associated with the documentation & reporting of the risk management & compliance activities. Numerous organizations are aiming for noteworthy improvement in the way they manage their internal audits, risk and compliance functions through better automation of information and data. Several private and public organizations are collaborating with EGRC software providers to evade the possible mutilation from possible risks within the business environment.

"Early Adoption of EGRC Solutions to Ensure Dominating Position of North America Market"

Presently, North America is the front-runner of the overall enterprise governance, risk, and compliance market closely followed by Europe. The two regions collectively contribute to more than half of the total market value generated worldwide. These regions have relatively stricter environment towards EGRC management across different industry verticals. In addition, presence of large number of market players in the region has ensured considerable penetration of EGRC and related solutions in the regions. In the following years, Asia Pacific is poised to emerge as the most attractive market for EGRC solutions. The region represented as the hub to manufacturing industry with continual advancements in the sector. Increasing competitive nature in the region has enforced the organizations to adopt viable solutions to maintain efficiency of their EGRC management.

Key players of global enterprise governance, risk and compliance market include SAP SE, Dell Inc., Oracle Corporation, Wolters Kluwer N.V., International Business Machines Corporation, Fidelity National Information Services, Inc., Deloitte Touche Tohmatsu Ltd., MetricStream, Inc., Thomson Reuters Corporation, Maclear LLC, Microsoft Corporation, BWise, Software AG, RSA Archer and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Enterprise Governance, Risk and Compliance market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Enterprise Governance, Risk and Compliance market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Enterprise Governance, Risk and Compliance market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Enterprise Governance, Risk and Compliance market?
• Which is the largest regional market for Enterprise Governance, Risk and Compliance market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Enterprise Governance, Risk and Compliance market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Enterprise Governance, Risk and Compliance market worldwide?