eGRC Market to Rise at an Impressive CAGR of 13.2%; Urgent Need for Analyzing Regulatory Policies to Boost Growth, says Fortune Business Insights

Pune, June 08, 2020 (GLOBE NEWSWIRE) — Nowadays, several organizations around the world are adopting automated and digital solutions at a rapid rate. It is further increasing the risk of data theft in those organizations. To battle the challenges of third-party exposure, cybersecurity threats, reputation risk, and regulatory change, the adoption of eGRC will aid in the global enterprise governance, risk & compliance (eGRC) market growth during the forecast period.According to a published report by Fortune Business Insights, titled, “eGRC Market Size, Share & Industry Analysis, By Component (Software, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By End-User (BFSI, Healthcare, Government, Energy & Utilities, Manufacturing, Retail & Consumer Goods, Telecom & IT and Others) and Regional Forecast, 2019-2026,” the global enterprise governance, risk & compliance (eGRC) market is projected to reach USD 57.57 Billion by 2026, thereby exhibiting a CAGR of 13.2% during the forecast period. However, the report states that the global market was valued at USD 21.72 Billion in 2018. The report further provides an in-depth examination of the ongoing and latest trends with a focus on the business environment worldwide.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.Please visit: https://www.fortunebusinessinsights.com/industry-reports/enterprise-governance-risk-and-compliance-egrc-market-101415
In terms of component, the global enterprise governance, risk & compliance (eGRC) market is grouped into software and services. Amongst these, the software sub-segment is anticipated to generate a high global enterprise governance, risk & compliance (eGRC) market revenue during the forthcoming years. It will occur due to the urgent requirement for streamlined and automated GRC programs across the world. A rise in the need for analyzing regulatory policies, obligations, and requirements will also impact growth positively. Additionally, eGRC software has the capability of receiving actionable insights and analyzing them to decrease the risks with the help of business intelligence tools, machine learning technology, and analytics tools.Rising Government Investment and Initiatives to Develop eGRC to Favor Growth in Asia PacificThe global enterprise governance, risk & compliance (eGRC) market is geographically divided into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America. Out of these regions, North America and Europe are in the dominant positions in the global eGRC market. The growth is attributed to the increasing cybersecurity threats in North America due to a rise in the dependency on digital tools. Moreover, in Europe, numerous enterprises are relying more on cloud-based business models which is likely to increase the market growth in the coming years. Also, rising implementation of latest technologies, such as cloud-based solutions, big data, connected devices for workplace integration, BYOD, social networking platforms, and other similar systems tend to bring about security threats. Even then, enterprises deploy them due to their performance-optimizing features and expensive nature.IBM and Thomson Reuters Focus on Strategic Partnership for Developing a Combination of AI and DataIBM, a multinational information technology company, based in the U.S., announced its partnership with Thomson Reuters, a Canadian multinational media conglomerate, headquartered in Canada in May 2019. The strategic collaboration would aid the banks in addressing the increasing regulatory requirements through a robust combination of real-time regulatory insights and artificial intelligence (AI). The developed solution is called RegTech and it would be delivered from IBM cloud. BwiseDell Technologies, Inc.EMC CORPORATIONIBM CorporationMetricStream, Inc.Microsoft CorporationOracle CorporationSAP SEThomson ReutersWolters Kluwer N.V.IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints, and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersGlobal eGRC Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights, and Forecast – By ComponentSoftwareServicesMarket Analysis, Insights, and Forecast – By Deployment ModelCloud-basedOn premiseMarket Analysis, Insights, and Forecast – By Organization SizeLarge EnterpriseSmall & Medium Business EnterpriseMarket Analysis, Insights, and Forecast – By VerticalBFSIHealthcareGovernmentEnergy & UtilitiesManufacturingRetail & Consumer GoodsTelecom & ITOthers (Transportation & Logistics, Construction, etc.)Market Analysis, Insights, and Forecast – By RegionNorth AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaTOC Continued…!!!
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