PUBLISHER: Lucintel | PRODUCT CODE: 1224433
PUBLISHER: Lucintel | PRODUCT CODE: 1224433
eGRC Market Trends and Forecast
The future of the eGRC market looks promising with opportunities in the construction & engineering, energy & utility, BFSI, retail & consumer goods, transportation & logistics, and IT & telecom industries. The global eGRC market is expected to grow with a CAGR of 13% to 15% from 2023 to 2028. The major drivers for this market are increase in stringent compliance mandates, integration of AI/ML (artificial intelligence and machine learning) & blockchain technologies in GRC solutions, and growth in data & security breaches.
eGRC Market
Emerging Trends in the eGRC Market
Emerging trends, which have a direct impact on the dynamics of the industry, include surge in penetration of IoT technology, integration of AI technologies in eGRC solutions, and rise in adoption of eGRC software in financial institutions.
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eGRC Market by Segments
eGRC Market by Segment
eGRC Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
Software
Services
eGRC Market by Business Operations [Value ($B) Shipment Analysis from 2017 to 2028]:
Finance
IT
Legal
Operations
eGRC Market by Deployment Type [Value ($B) Shipment Analysis from 2017 to 2028]:
On-Premises
Cloud
eGRC Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Construction and Engineering
Energy and Utility
BFSI
Retail and Consumer Goods
Transportation and Logistics
IT and Telecom
Others
eGRC Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
List of eGRC Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies eGRC companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the eGRC companies profiled in this report include.
IBM
Wolters Kluwer N.V.
Convercent
NAVEX Global
Refinitive
SAS Institute
SAI Global Pty
Microsoft
Oracle
SAP SE
eGRC Market Insights
Lucintel forecasts that finance will remain the largest segment over the forecast period due to the growing need for improving performance, streamlining business processes, reducing costs, and enhancing profit margins.
Within this market, BFSI is expected to remain the largest segment due to penetration in technological innovations. Additionally, enterprise governance, risk, and compliance play a vital role in providing compliance with finance-related mandates and heads exact operations with respect to the financial process.
North America will remain the largest region due to the suppliers in this region are diving deep into the roots of creating innovative commodities, adoption of high technology in almost every part of business sectors, and majority of the supplier in this region is engaged in developing the products and services based on the artificial intelligence (AI), analytics, natural language processing (NLP), and machine learning (ML).
Features of the eGRC Market
Market Size Estimates: eGRC market size estimation in terms of value ($B)
Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
Segmentation Analysis: eGRC market size by various segments, such as by component, business operations, deployment type, end use industry, and region.
Regional Analysis: eGRC market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth Opportunities: Analysis on growth opportunities in different by component, business operations, deployment type, end use industry, and regions for the eGRC market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for the eGRC market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
FAQ
Q1. What is the eGRC market size?
Answer: The global eGRC market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for eGRC market?
Answer: The global eGRC market is expected to grow with a CAGR of 13% to 15% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the eGRC market?
Answer: The major drivers for this market are increase in stringent compliance mandates, integration of AI/ML (artificial intelligence and machine learning) & blockchain technologies in GRC solutions, and growth in data & security breaches.
Q4. What are the major segments for eGRC market?
Answer: The future of the eGRC market looks promising with opportunities in the construction & engineering, energy & utility, BFSI, retail & consumer goods, transportation & logistics, and IT & telecom industries.
Q5. What are the emerging trends in eGRC market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include surge in penetration of IoT technology, integration of AI technologies in eGRC solutions, and rise in adoption of eGRC software in financial institutions.
Q6. Who are the key eGRC companies?
Answer: Some of the key eGRC companies are as follows:
IBM
Wolters Kluwer N.V.
Convercent
NAVEX Global
Refinitive
SAS Institute
SAI Global Pty
Microsoft
Oracle
SAP SE
Q7. Which eGRC segment will be the largest in future?
Answer: Lucintel forecasts that finance will remain the largest segment over the forecast period due to the growing need for improving performance, streamlining business processes, reducing costs, and enhancing profit margins.
Q8. In eGRC market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region due to the suppliers in this region are diving deep into the roots of creating innovative commodities, adoption of high technology in almost every part of business sectors, and majority of the supplier in this region is engaged in developing the products and services based on the artificial intelligence (AI), analytics, natural language processing (NLP), and machine learning (ML).
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.