Worldwide Security Governance, Risk, and Compliance Services and Software Forecast, 2024-2028

This IDC study presents a five-year forecast and contains IDC's best estimate for the governance, risk, and compliance services and software market for the 2023-2028 period. In addition, this study discusses the drivers and dynamics that had an impact on the global security governance, risk, and compliance professional services and software market in 2023 and provides insight into future trends that may influence market demand over the 2023-2028 period."Both risk management and compliance services and software continue to be the top investment areas for organizations," says Phil Harris, research director, Governance, Risk, and Compliance, IDC. "Both IT and the business are gaining clarity about the ever-changing cyberattack environment and the critical impact to the viability of their organizations and need to continue to prioritize cybersecurity as a mandate and keep senior management and the board informed as to the status of the program. While the overall cybersecurity GRC market has experienced strong growth over the past several years and while budgets are tightening, organizations continue to see value in these services and solutions, which is evidenced in continued investment. CISOs must step up their game in executive and board settings to engage them in constructive dialog that has them become contributors to the direction of cybersecurity rather than passively listening."