According to estimates, the Enterprise, Governance Risk and Compliance Market would have expanded to US$ 62.39 Billion by the end of 2033 from its 2022 valuation of US$ 15.23 Billion. This market is anticipated to reach a value of US$ 17.1 Billion in 2023 and is expected to expand at a CAGR of 12.8% from 2023 to 2033.
An effective strategy for managing corporate cybersecurity risk can be summed up as enterprise governance, risk, and compliance. An organisation must have a system to handle cyber hazards without interfering with business operations due to the rising frequency of cyber security risks; these systems are known as enterprise governance, risk, and compliance systems.
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Enterprise Governance, Risk, and Compliance (GRC) refers to the systematic approach organizations use to manage their operations and ensure compliance with laws, regulations, and internal policies. It is a multi-disciplinary approach that integrates governance, risk management, and compliance activities to provide a comprehensive solution for managing risk. The Enterprise GRC market refers to the various products and services offered to help organizations manage their GRC activities more effectively.
The Enterprise GRC market has grown significantly in recent years due to increased regulatory pressure and the need for organizations to effectively manage risk. This has led to the development of various software and technology-based solutions, including risk management software, compliance management software, and governance management software, which help organizations automate their GRC processes and ensure compliance with regulations. The demand for these solutions is driven by various factors, including the increasing complexity of regulations, the need for efficient risk management processes, and the increasing demand for transparency and accountability in organizations.
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Companies
- IBM Corporation
- Microsoft
- Oracle
- SAP
- SAS Institute
- Thomson Reuters
- Wolters Kluwer
- Dell EMC
- FIS
- MetricStream
- Software AG
- SAI Global
- ProcessGene
- LogicManager
- NAVEX Global
- Ideagen
- Alyne
- MEGA International
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Main Segments of Enterprise, Governance, Risk and Compliance Market Industry Research
By Solution :
- Software
- Audit Management
- Risk Management
- Business Continuity
- Compliance & Policy Management
- Information Security & Data Management
- Regulatory Change Management
- Services
- Consulting
- Integration & Implementation
- Support & Maintenance
By Organization size :
- Large Enterprise
- Medium Enterprise
- Small Enterprise
By Vertical :
- Aerospace & Defense
- Automotive
- Consumer goods & Retail
- Healthcare & Life science
- ITES & Telecom
- Others
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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