Enterprise Governance, Risk and Compliance Market set to see strong growth to 2024

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Global eGRC Market is estimated to witness
lucrative growth from 2018 to 2024
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Enterprise Governance, Risk
and Compliance Market

• North America is expected to dominate the
  enterprise governance, risk and compliance market
  share due to the increasing government efforts to
  implement the risk management practices. For
  instance, in April 2018, the U.S. government
  raised the cost of civil penalties. The
  government adjusted the penalties on the account
  of increasing compliance failures. The Department
  of Justice (DOJ) for violations of the False
  Claims Act (FCA) raised the penalty range from
  USD 11,181 to USD 22,003 per violation as
  compared to USD 10,957 to USD 21,563 per
  violation in 2017.
• The eGRC market is estimated to grow considerably
  in Asia Pacific during the forecast timeline. The
  market growth is driven by the growing adoption
  of eGRC solutions in banking sector. With the
  rising financial crimes in the region, the need
  to have the robust security solutions and
  stringent regulations to mitigate the risks
  associated with the crimes are expected to drive
  the market growth. The companies in the region
  are providing solutions to the financial
  institutions to manage their regulatory
  compliances.

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• Application Analysis of Enterprise Governance,
  Risk and Compliance Market
• The risk management software market segment is
  expected to drive the overall growth of the
  enterprise governance, risk and compliance market
  from 2018 to 2024. With the increasing number of
  cyber-attacks, the companies are rapidly adopting
  solutions to mitigate the attacks posing threat
  to their operations. They are deploying risk
  management software to monitor suspicious
  transactions and unauthorized access to the data,
  automate internal controls and enforce compliance
  to drive business efficiencies.
• The adoption of Big Data technologies also acts
  as the major driver for the eGRC market. The
  organizations are swiftly moving towards the data
  analytics tools and solutions to measure and
  manage the risk exposures across their business
  lines. They are combining their big data with
  analytics tools and data-driven GRC to manage the
  compliance processes. The auditors are utilizing
  the capabilities of Big Data to explore the data
  to gain insights about the risk exposure and
  detect fraud.

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Competitive Market Share of Enterprise
Governance, Risk and Compliance Market

• The market players operating in the enterprise
  governance, risk and compliance market are
  Thomson Reuters, EMC, Oracle, IBM, SAP SE,
  Deloitte LLP, Maclear SA, SAS Institute Inc.,
  BWise BV, Software AG, Microsoft, Protiviti Inc.,
  Fidelity National Information Services, Inc.
  (FIS), and Modulo Security, LLC. The companies
  are offering their GRC platforms to enable their
  business customers easily enhance their risk
  management practices.
• The BWise integrated GRC platform helped the
  company to reduce the organizational threats and
  streamline their audit processes. Similarly, in
  March 2018, the Corporate Risk Management
  department at Axel Springer collaborate with the
  Avedos to improve the efficiency of technical
  workflows by managing the corporate risk.

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