Governance, Risk Management & Compliance (GRC) Market share forecast to witness considerable growth from 2018 to 2024 - PowerPoint PPT Presentation

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Governance, Risk Management & Compliance (GRC) Market share forecast to witness considerable growth from 2018 to 2024


The major Governance, Risk Management & Compliance (GRC) market players in the GRC market are IBM, SAP, SAS Institute, Microsoft, EMC, Fidelity National Information Services, Oracle etc. – PowerPoint PPT presentation

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Title: Governance, Risk Management & Compliance (GRC) Market share forecast to witness considerable growth from 2018 to 2024

Governance, Risk Management Compliance (GRC)
market share research by applications and regions
for 2018-2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
Overview of Governance, Risk Management
Compliance (GRC) Market
  • North America GRC market is leading the market
    followed by Europe. The growth of the market is
    attributed to the rising incidences of the cyber
    attacks in the region. Furthermore, the adoption
    of the big data, cloud services, and IoT
    technology fosters the market growth. Asia
    Pacific is estimated to grow substantially during
    the forecast timeline. The growing adoption of
    the cloud services in the region is driving the
    market growth. Furthermore, growing adoption of
    the solutions among the SMBs is propelling the
    market growth.
  • Governance, Risk Management Compliance (GRC)
    Market size is driven mainly by the increasing
    incidences of the cyber-attacks across the
    countries. In 2017, approximately 164 increase
    in the cyber security attacks across the globe
    has been witnessed as compared to 2016. This
    encourages organizations to adopt advanced risk
    management solutions to mitigate the risks of
    cyber security attacks. Furthermore, the
    stringent government regulations and growing need
    to adhere to the compliance and corporate
    governance standards are driving the growth of
    the GRC market.

  • The rise in the use of Artificial Intelligence
    (AI)-enabled eGRC solutions and the adoption of
    the software-enabled businesses IT
    infrastructure are developing myriad growth
    opportunities for the growth of the market.
    However, the high installation cost of the
    solutions and uncertain government regulations
    due to uncertain regimes are restricting the
    growth of the GRC market.
  • There are three main components of GRC market,
    governance, risk, and compliance. Governance
    ensures the alignment of operational activities
    with the organizational business goals, Risk is
    associated with the identification of risks
    involved in business activities along with its
    optimal solution to avoid severe consequences and
    Compliance makes sure that the organizational
    processes and activities meet the laws and
    regulations related to those systems.
  • The policy management, risk management, and audit
    compliance management are the major solutions
    available in the market. Policy management is the
    governance part of the software that involves
    specifying, updating, communicating, publishing,
    and enforcing of the policy. The audit management
    software offers a centralized process to automate
    the complete the audit lifecycle. Whereas, the
    risk compliance management part of the software
    includes processes to mitigate or minimize risks,
    utilize the opportunities, and check its
    compliance with global laws and organizational


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Management Compliance (GRC) Market
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  • The software can be deployed in two ways on
    premise or cloud based to avail its benefits. The
    cloud-based system is widely implemented across
    the organizations as it is a quick and easy way
    to perform operations and the cloud gives optimal
    reliability, security, and scalability in lower
    cost as compared to the on-premise system.
  • The GRC market is also segmented into integrated,
    domain specific, and point solutions. The
    integrated solution provides an overall
    industrial solution to an organization. The
    domain specific offers solutions applicable to
    specific industry verticals in-line with the
    organizational goals. Point solutions provide are
    used to address the customer-specific challenges.
  • Transportation and logistics, IT, BFSI,
    construction and engineering, energy and utility,
    government, manufacturing, and retail are some of
    the major end users of the GRC market. BFSI
    sector holds the major share due to the rising
    need among the financial institutes to mitigate
    the risk of cyber-attacks. The solutions are also
    used to maintain transparency in the system and
    provide customized services to end users.

  • The major market players in the GRC market are
    IBM, SAP, SAS Institute, Microsoft, EMC, Fidelity
    National Information Services, Oracle, Metric
    Stream, Turnkey consulting, Thomson Reuters, RSA
    Archer, Newport Consulting Group, BWise, and ACL.
    The software providers are mainly focused on the
    development of more intuitive and configurable
    platforms, offering expanded content options and
    better integration. For instance, in June 2018,
    SAP launched GRC 12.0, the latest version of the
    on-premise software that comes with new
    dashboard, monitoring, and aggregation features.
    Similarly, in June 2017, Turnkey Consulting, the
    risk management consultancy institute launched
    its new product, Bedrock.
  • Multinational companies are leveraging on the
    mergers and acquisition activities to increase
    their product line, customer base, and market
    share. For instance, in April 2018, Oracle
    acquired Grapeshot to strengthen its
    technological base and provide better services to
    the market. Also, IBM acquired Agile 3 Solutions
    in February 2017 and Promontory Financial Group
    in September 2016 to improvise its services in
    the data security and risk management segment.

  • Market
    research reports Key analytical components

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