PUBLISHER: KBV Research | PRODUCT CODE: 1767874
PUBLISHER: KBV Research | PRODUCT CODE: 1767874
The Latin America, Middle East and Africa Enterprise Governance, Risk and Compliance (EGRC) Market would witness market growth of 15.1% CAGR during the forecast period (2025-2032).
The Brazil market dominated the LAMEA Enterprise Governance, Risk and Compliance (EGRC) Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $3,535.7 million by 2032. The Argentina market is showcasing a CAGR of 15.9% during (2025 - 2032). Additionally, The UAE market would register a CAGR of 13.6% during (2025 - 2032).
The manufacturing industry requires compliance with ISO 9001, Occupational Safety and Health Administration (OSHA), and environmental regulations, while the IT and telecommunications sectors must comply with cybersecurity laws, data protection standards, and AI governance regulations. The need for tailored GRC solutions that address industry-specific risks pushes vendors to develop customizable, AI-driven compliance platforms.
With organizations shifting from reactive to proactive risk management, businesses leverage predictive analytics, real-time risk intelligence, and AI-driven automation to anticipate potential compliance violations and mitigate risks before they escalate. Traditional risk management approaches relied on manual audits, periodic assessments, and post-incident corrective actions.
In Brazil, the increasing frequency of cyberattacks and data breaches drives organizations to adopt robust GRC frameworks for regulatory compliance and risk mitigation. According to NETSCOUT's 2023 Cyber Threat Intelligence Report, Brazil experienced 357,422 DDoS attacks, with a significant focus on wireless telecommunications carriers and data processing services. The largest attack recorded had a bandwidth of 775.88 Gbps, underscoring the scale of cyber threats in Brazil's digital landscape. These escalating cyber risks have made data security governance a national priority, particularly under the General Data Protection Law (LGPD), which mandates strict compliance measures, risk management frameworks, and cybersecurity policies. Furthermore, in South Africa, the BFSI sector is a major driver of the market, with financial institutions subject to rigorous regulatory oversight under the Protection of Personal Information Act (POPIA). The law requires banks and financial service providers to adopt stringent data protection measures, automated compliance frameworks, and risk governance protocols. In conclusion, as cybersecurity risks intensify and regulatory requirements evolve, organizations across LAMEA are increasing investments in enterprise GRC platforms to streamline governance, enhance risk management, and ensure legal compliance.
Based on Component, the market is segmented into Software (Risk Management, Audit Management, Incident Management, Policy Management, Compliance Management, and Other Software Type), and Services (Integration, Consulting, and Support). Based on Organization Size, the market is segmented into Large Enterprises, and Small & Medium-sized Enterprises (SMEs). Based on Application, the market is segmented into ESG, EHS, Legal Services, Director Board, and Other Application. Based on Vertical, the market is segmented into BFSI, Healthcare, Government, Telecom & IT, Energy & Utilities, Manufacturing, and Other Vertical. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
LAMEA Enterprise Governance, Risk and Compliance (EGRC) Market Report Segmentation
By Component
By Organization Size
By Application
By Vertical
By Country