New York, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Enterprise Governance, Risk and Compliance Software Market by Component (Software (Audit management, Compliance Management, Risk management, Policy management, Incident management, and others: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2024”.
According to the report, global enterprise governance, risk, and compliance software market was valued at around USD 23,100 million in the year 2016 and it is expected to reach approximately USD 49,900 million by 2024. The global enterprise governance, risk and compliance software market is expected to exhibit a CAGR of more than 10% between 2017 and 2024.
The chief factor that will trigger the growth of the Enterprise Governance, Risk and Compliance Software market is the increasing adoption of big data and IoT in eGRC solutions. The awareness among the organizations is increasing, about the deployment of security solutions in their day to day business operations to protect and secure the information and data from unauthorized access and cyber-attacks. Moreover, rising demand for economic and regulatory climate, various financial services firms are transforming operations to enhance the performance, and this will propel the growth of the Enterprise Governance, Risk and Compliance Software market.
Browse through 28 Tables & 37 Figures spread over 130 Pages and in-depth TOC on "Global Enterprise Governance, Risk and Compliance (GRC) Software Market Size & Forecast, 2016 – 2022”.
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Software and services are the two types of components of Enterprise Governance, Risk, and Compliance (eGRC) Market. The software segment accounted major share in the Enterprise Governance, Risk and Compliance Software market in 2017. The rising demand for e GRC software for audit management, compliance management, risk management, policy management etc. is expected to propel the growth of segment over the forecast period.
The cloud deployment model is dominating the Enterprise Governance, Risk and Compliance Software market in 2017. The automatic software updates, elasticity, and disaster recovery through cloud-based backup systems is expected to drive the growth of segment over the forecast period.
Browse the full " Enterprise Governance, Risk and Compliance Software Market by Component (Software (Audit management, Compliance Management, Risk management, Policy management, Incident management, and others: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2024" report at https://www.zionmarketresearch.com/report/data-quality-tools-market
For regular audits and various other regulatory mandates, the enterprises have been greatly adopting eGRC solutions. Moreover, growing digitization and increased cyber risks to critical business information and data generate the demand for eGRC software globally. The TechAdvisory.org published a report which says, according to small business trends, in between 2015 and 2016, about 55% of companies has experienced cyber attach at least for ones. Moreover, about 50% companies have experienced data breaches with employee and customer information the year.
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Market Report Highlights:
- Economies such as India, China are expected to experience a significant market growth owing to the regulatory and compliance mandates.
- Lack of data security tools awareness in developing economies for development of energy vehicles may affect the market growth negatively
- Software dominates the component segment of the enterprise governance, risk and compliance software market
- The rising demand for cloud deployment is expected to drive the growth of cloud base e-GRC solutions over the forecast period
- The rising adoption of e-GRC solutions in small and medium business (SMBs) is expected to propel the growth of the market over the forecast period.
- North America holds the dominant position in the global enterprise governance, risk and compliance software market with around 38% share in 2017
- The U.The S. is the leading country in the enterprise governance, risk and compliance software market in North America
- Japan and China are some of the leading countries that contribute the major share in the enterprise governance, risk and compliance software market in the Asia Pacific
- The less awareness about the e-GRC software’s in Middle East & Africa is one of the major concern for industry participants
According to the analysts and insight shared by industry experts during primary research, cloud segment by deployment model will open up many opportunities for the enterprise governance, risk and compliance software market.
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Some of the prominent market players in the Enterprise Governance, Risk and Compliance Software market include Microsoft, SAP SE, SAS Institute Inc., Oracle Corporation, Bwise , Fidelity National Information Services Inc. , Wolters Kluwer, Metricstream Inc., Thomson Reuters, EMC Corporation (A Dell Company), and International Business Machines Corporation among others.
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Global Market Segmentation:
Global Enterprise Governance, Risk, and Compliance Software Market: Component Segment Analysis
- Software
- Audit Management
- Compliance Management
- Risk Management
- Policy Management
- Incident Management
- Others (Business continuity management, IT eGRC, financial control management, and issue management)
- Services
- Consulting and training
- Integration
- Support
Global Enterprise Governance, Risk, and Compliance Software Market: Deployment Model Segment Analysis
- Cloud
- On-premises
Global Enterprise Governance, Risk, and Compliance Software Market: Organization Size Analysis
- Enterprises
- Small and Midsize business (SMBs)
Global Enterprise Governance, Risk and Compliance Software Market: Business Function Segment Analysis
- Finance
- IT
- Operations
- Legal
Global Enterprise Governance, Risk, and Compliance Software Market: Industry vertical Segment Analysis
- BFSI
- Healthcare
- Government
- Construction and Engineering
- Energy and Utilities
- Manufacturing
- Mining and Natural Resources
- Retail and Consumer Goods
- Telecom and IT
- Transportation and Logistics
- Others
Global Enterprise Governance, Risk and Compliance Software Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Qatar
- Rest of Asia Pacific
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