Enterprise Governance Risk Compliance Market Summary
As per Market Research Future Analysis, the Global Enterprise Governance, Risk, and Compliance Market was valued at USD 16.95 Billion in 2021 and is projected to grow from USD 22.61 Billion in 2022 to USD 67.80 Billion by 2030, reflecting a CAGR of 14.72% from 2022 to 2030. The market is driven by increasing compliance requirements and the complexity of regulatory systems, making eGRC solutions essential for businesses to avoid financial losses. The software segment dominated the market in 2021, contributing approximately 30% of the revenue, with compliance management being the leading type. North America holds the largest market share, supported by numerous vendors and innovative strategies.
Key Market Trends & Highlights
The Enterprise Governance, Risk, and Compliance Market is experiencing significant growth driven by regulatory complexities and technological advancements.
- Market Size in 2021: USD 16.95 Billion
- Projected Market Size by 2030: USD 67.80 Billion
- CAGR from 2022 to 2030: 14.72%
- North America holds the largest market share during the forecast period.
Market Size & Forecast
2021 Market Size: USD 16.95 Billion
2022 Market Size: USD 22.61 Billion
2030 Market Size: USD 67.80 Billion
CAGR (2022-2030): 14.72%
Largest Regional Market: North America.
Major Players
Key players include Microsoft, SAP, IBM, Oracle, SAS Institute, and others.
The Enterprise Governance Risk Compliance Market is usually the strategy several organizations implement to administer and ensure all their business compliance and objectives. This market trend is now at its peak, as Enterprise Governance Risk Compliance enables a business to leverage its brand value and image and keep it away from any financial disaster. What drives the market is the surge and increasing use of complex regulatory systems. The regulatory body introduces new compliances according to which a business is making changes.
 All these are made to offer better user satisfaction. As the government makes these compliances and imposes fines for those not ensuring it, Enterprise Governance Risk Compliance is obligatory for all businesses to avoid financial loss. The increasing use of data is always creating a surge in the Enterprise Governance Risk Compliance Market.Â
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Enterprise Governance, Risk, and Compliance Market Trends
Increasing Compliance Requirements to Drive the Market
The demand for eGRC systems is expected to increase due to the complexity of regulatory requirements and compliance with governmental rules. The Sarbanes Oxley Act is being replaced by traditional regulatory compliance standards and guidelines, as well as sophisticated risk- and compliance-related regulatory concerns, by businesses. To prevent operational losses, businesses must maintain compliance with laws such as HIPAA, GDPR, COBIT, and other national and federal standards.Â
During the forecast period, the market for corporate governance, risk, and compliance is projected to rise due to the increasing rigor of compliance standards. The market growth is anticipated to be accelerated by trends toward combining technologies such as Al, loT, and machine learning with eGRC solutions. Al-powered systems are becoming more popular since they have strong analytical skills and can handle massive amounts of data every day. Additionally, these solutions provide benefits including increased productivity, improved processes, lower costs, and more.
Enterprise Governance, Risk, and Compliance Market Segment Insights:
Enterprise Governance, Risk, and Compliance Component Insights
The market segmentation, based on Components, includes Software and Services. The Software segment held the majority share in 2021, contributing to around ~30% of the Enterprise Governance, Risk, and Compliance market revenue. Due to factors such as the rising need for software like SAP GRC, GRC Envelop, SAI360, and IBM OpenPages along with growing automation & innovation in eGRC programs, it is predicted that demand for enterprise, governance, risk, and compliance software would rise.
Enterprise Governance, Risk, and Compliance Type Insights
Based on Type, the market segmentation includes Compliance Management, Policy Management, Risk Management, Audit Software Management, Incident Management, and Others. The Compliance Management segment dominated the market in 2021. Choosing compliance management comprises, among other things, making cooperation simple, automating compliance procedures, making it easier to follow regulatory changes, cutting expenses associated with operations, and raising customer satisfaction. Several businesses on the market provide compliance management solutions, some of which include IBM and Microsoft.
Enterprise Governance, Risk, and Compliance Business functions Insights
Based on Business functions, the market segmentation includes IT, Operation, Legal, and Finance. The IT segment dominated the market in 2021 with market growth. The IT department faces a variety of difficulties, such as compliance issues and technical hazards. Many IT GRC programs offer decision-makers a framework for ensuring that the IT initiatives are in line with the strategic goals of the firm. Organizational risks that might be impacted by different policies and controls must be managed by businesses.
Enterprise Governance, Risk, and Compliance Application Insights
Based on Application, the market segmentation includes BFSI, Transportation and Logistics, Energy and Utility, IT and Telecom, Construction and Engineering, Retail and Consumer goods, Healthcare, Mining and Natural Resources, Government, and Others. The Healthcare segment dominated the market in 2021 the market growth. There is more pressure on the healthcare sector to improve performance while lowering costs overall, and there are different compliance-related rules that must be followed to avoid fines.
Figure 2: Enterprise Governance, Risk, and Compliance Market, by Business Functions, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Enterprise Governance, Risk, and Compliance Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America holds the largest Enterprise Governance, Risk, and Compliance Market Size during the forecast period. This region is home to many vendors who acquired various innovative strategies to maintain their position in the market. The growth rate of this market is assigned to the various vendors associated with the eGRC market that are expanding their reach in their respective regions to serve their changing customer demands.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: ENTERPRISE GOVERNANCE, RISK, AND COMPLIANCE MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Enterprise Governance, Risk, and Compliance Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Enterprise Governance, Risk, and Compliance industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Enterprise Governance, Risk, and Compliance industry to benefit customers and expand the market sector. Major market players, including Microsoft, SAP, IBM, Oracle, SAS Institute, and others, are attempting to increase market demand by funding R&D initiatives.
Microsoft is a technology firm that creates and maintains software, services, and hardware. It is divided into three business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. Productivity and Business Processes include Office Commercial, Office Consumer, LinkedIn, and Dynamics business products, as well as productivity, communication, and information services.
SAP is a software development business that specializes in corporate application software. It provides solutions for many business sectors, such as enterprise resource planning and finance, network and spend management, customer relationship management and customer experience, digital supply chain, HR and people engagement, and so on. The company serves automotive, energy and natural resources, consumer, financial services, public services, aerospace and defense, and other industries.
Key Companies in the market include
Enterprise Governance Risk Compliance Industry Developments
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Q2 2024: LogicGate Introduces AI Governance Solution for Enterprise Risk Management LogicGate launched a new AI Governance Solution designed to help enterprises manage and govern AI technologies across operations, ensuring compliance and responsible AI adoption.
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Q2 2024: IBM Corporation and Telefónica Tech Partner to Deploy SHARK.X AI, Analytics, and Data Management Platform IBM and Telefónica Tech announced a partnership to deploy SHARK.X, an AI-driven platform for data governance, regulatory compliance, and digital transformation, supporting enterprise risk management in hybrid cloud environments.
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Q1 2025: IBM Corporation and e& Partner to Deploy AI Governance Platform Using IBM watsonx.governance IBM and e& revealed a partnership to implement an AI governance platform leveraging IBM watsonx.governance, aimed at enhancing compliance, transparency, and risk management for ethical AI oversight.
Enterprise Governance, Risk, and Compliance Market Segmentation
Enterprise Governance, Risk, and Compliance Component Outlook
Enterprise Governance, Risk, and Compliance Type Outlook
Enterprise Governance, Risk, and Compliance Business functions Outlook
Enterprise Governance, Risk, and Compliance Application Outlook
Enterprise Governance, Risk, and Compliance Regional Outlook
| Attribute/Metric |
Details |
| Market Size 2021 |
USD 16.95 Billion |
| Market Size 2022 |
USD 22.61 Billion |
| Market Size 2030 |
USD 67.80 Billion |
| Compound Annual Growth Rate (CAGR) |
14.72% (2022-2030) |
| Base Year |
2021 |
| Market Forecast Period |
2022-2030 |
| Historical Data |
2018 & 2020 |
| Market Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Component, Business functions, Application, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Microsoft, SAP, Oracle, Alyne, ProcessGene, Wolters Kluwer, SAS Institute, IBM, Software AG, MetricStream, LogicManager |
| Key Market Opportunities |
The increasing extent of data is offering a broad range of Enterprise Governance |
| Key Market Dynamics |
The complex regulatory system which is increasing day by day needs to adjust to various regulations that are imposed by the government |
Frequently Asked Questions (FAQ):
The Enterprise Governance, Risk, and Compliance market size was valued at USD 16.95 Billion in 2021.
The market is projected to grow at a CAGR of 14.72% during the forecast period, 2022-2030.
North America had the largest share of the Enterprise Governance, Risk, and Compliance market.
The key players in the market are Microsoft, SAP, Oracle, Alyne, ProcessGene, Wolters Kluwer, SAS Institute, IBM, Software AG, MetricStream, and LogicManager.
The Compliance Management category dominated the market in 2021.
Healthcare had the largest share in the market for Enterprise Governance, Risk, and Compliance.
