Enterprise Governance, Risk & Compliance Market Growth, Opportunities and Forecast To 2028A Chapter by Markets InsightsThe global enterprise governance, risk & compliance market size was valued at USD 35.1 billion in 2020 and is expected to witness a compound annual growth rate (CAGR) of 13.7% from 2021 to 2028The global Enterprise Governance, Risk & Compliance Market size is expected to reach USD 97.3 billion by 2028, according to a new report by Grand View Research, Inc., recording a CAGR of 13.7% over the forecast period. SAP SE, MetricStream, Inc., Thomson Reuters, Wolters Kluwer, IBM, Microsoft, Oracle, SAS Institute, RSA Archer, FIS are some of the key players in this industry. The growing need to comply with regulations related to data privacy, business function, and IT infrastructure has compelled industries, such as BFSI, IT & telecom, and oil & gas, to adopt enterprise governance, risk & compliance (EGRC) solutions. For instance, the BFSI sector is required to comply with regulations that safeguard the interest of investors. Non-compliance can lead to huge monetary losses or cancellation of operating licenses. Moreover, EGRC offers a range of benefits, such as efficient management of policies, audits, compliances, risks, and incident response, enabling companies to effectively safeguard their operations. All these factors are contributing to the growing demand for EGRC across enterprises. The integration of analytics and big data technology with EGRC solutions has resulted in enhanced operational features, offering new growth prospects for the market. Potential advancements in big data, IoT, artificial intelligence, and cloud computing in GRC solutions are expected to augment the industry growth. The consequent need for regularly monitoring and analyzing the rising volumes of digital data to ensure data security and privacy protection, coupled with mandatory compliance are driving the demand for EGRC. Countries with continuously growing economies, such as China, Japan, India, Brazil, France, and Germany, often change or upgrade their regulations for international and national trades. This requires enterprises to stay abreast with updated EGRC solutions and be wary of the potential risks of non-compliance. Advanced EGRC solutions are capable of handling data-driven GRC using big data, and data analytics tools. Moreover, appropriate governance ensures the economic growth and success of an enterprise. Robust corporate governance enables investors to maintain their confidence and helps enterprises in effectively raising funds. Related Press Release@ Enterprise Governance, Risk & Compliance Market Report Enterprise Governance, Risk & Compliance Market Report Highlights
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Added on March 8, 2022 Last Updated on March 8, 2022 Tags: Enterprise Governance, Risk & Compliance Market AuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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