Artificial Intelligence
Enterprise Governance, Risk, and Compliance Market to Hit $64.55 Bn by 2027; Rising Demand for Effective Risk Management Tools from Businesses to Fuel Growth: Fortune Business Insights™
Pune, Oct. 16, 2020 (GLOBE NEWSWIRE) — The global enterprise governance, risk, and compliance (eGRC) market size is projected to reach USD 64.55 billion by 2027, exhibiting a CAGR of 13.3% during the forecast period. Tightening compliance, risk, and governance mandates by regulatory authorities worldwide is expected to emerge as the foremost growth driver for this market, shares Fortune Business Insights™ in its report, titled “Enterprise Governance, Risk, and Compliance (eGRC) Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment Model (Cloud-based, On-premise), By Enterprises Size (Large Enterprises, Small and Medium Enterprises), By Vertical (BFSI, Healthcare, Government, Energy & Utilities, Manufacturing, Retail & Consumer Goods, Telecom & IT, and Others), and Regional Forecast, 2020-2027”.
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Compliance regulations are framed and implemented to ensure that enterprises work in a responsible, secure, and transparent manner. For example, the Health Insurance Probability and Accountability Act (HIPAA), 1996 was passed in the United States to safeguard personal health information and prevent the unauthorized transmission of such information across electronic channels. More recently, the European Union (EU) began implementing the General Data Protection and Regulation (GDPR) in 2018, which strictly monitors and penalizes exchange of personal information through electronic mediums, thus upholding the right to privacy of citizens. Enterprise governance, risk, and compliance solutions are critical in enabling businesses to meet these regulations and as countries sharpen their compliance norms, the demand for these solutions is likely to skyrocket.
The world is undergoing unprecedented challenges and upheavals because of the COVID-19 pandemic. Businesses are grappling with plummeting revenues, while industries are strategizing to cope with the impending recession. Amidst these anxious and uncertain times, we, at Fortune Business Insights™, are intensifying our efforts to provide businesses with comprehensive market intelligence, collected and analyzed by our expert research team. Our aim is to not just empower companies to successfully navigate the crisis, but also enable to tap opportunities created by it.
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The report states that the global market value stood at USD 24.26 billion in 2019. It also offers the following:
- In-depth analysis of the different factors driving, restraining, and creating opportunities in the market;
- Tangible insights and piecemeal study of the various market segments;
- Comprehensive assessment of the regional developments influencing the market growth; and
- Exhaustive evaluation of the key market players and their growth strategies.
Market Driver
Extensive Benefits of AI-enabled eGRC Solutions to Stoke Adoption
The enterprise governance, risk, and compliance market growth is slated to get propelled by the integration of smart technologies such as artificial intelligence (AI) and machine learning (ML) in eGRC systems. According to a joint report by SAP and the University of Applied Sciences, Berlin, embedding GRC solutions with AI will bring about profound changes in business operations, enabling managers to analyze risks and compliance & governance dynamics based on hardcore data. For example, the report observes that as AI becomes more prevalent in businesses, fraud examiners will be able to perform fraud assessments and design and develop key performance indicators (KPIs) to prevent future frauds. Moreover, AI-enabled eGRC will automate regulatory adherence reports and compliance managers will be able to detect external and internal dangers to the enterprise as well as efficiently manage cyber-crime threats to the organizational data. Thus, the emergence of AI-powered eGRC systems has put business process automation on the cusp of a revolution.
Regional Insights
North America to Dominate among Regions; Asia Pacific to Present Attractive Business Opportunities
With a market size of USD 10.13 billion in 2019, North America is poised to dictate the enterprise governance, risk, and compliance market share during the forecast period in terms of revenue. The major reason for the region’s leading position is the active adoption of advanced business automation technologies by companies in the US and Canada. Additionally, organizations in the region are also rapidly deploying cloud-based eGRC solutions to further optimize their processes, a trend which has gotten propelled amid the COVID-19 pandemic.
In Asia Pacific, unparalleled growth opportunities await market players owing to the increasing adoption of digitization and automation technologies by companies in the region. In Europe, the market will be primarily driven by the growing stringency of compliance and data protection regulations that enterprises have to follow.
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Competitive Landscape
Leading Companies to Focus on Capturing Evolving eGRC Requirements
Continuous evolution of business processes and the changing compliance and risk management needs of businesses are encouraging key players in this market to design holistic eGRC solutions. As a result, most companies are engaged in development of cutting-edge solutions to meet these requirements, thus strengthening their market position.
Industry Developments:
- June 2020: Connor and Scalio collaborated and announced ConnorScalio, a joint venture by the companies to unify their expertise and develop cloud solutions for their clients’ GRC and license management needs.
- April 2020: MetricStream introduced its COVID-19 Solution to empower companies to manage their operations amid the coronavirus pandemic. Developed speedily in March in response to the pandemic outbreak, the aim of the solution is to enhance organizations’ abilities to manage information and processes that impact all stakeholders associated with the organization.
List of Key Companies Profiled in the eGRC Market Report:
- Origami Risk (Illinois, United States)
- Blue Umbrella Limited (Quarry Bay, Hong Kong)
- Tevora (California, United States)
- LogicManager (Massachusetts, United States)
- SAI Global (Illinois, United States)
- Software AG (Darmstadt, Germany)
- BWise (New York, United States)
- Wolters Kluwer N.V. (Alphen aan den Rijn, Netherlands)
- SAP SE (Weinheim, Germany)
- IBM Corporation (New York, United States)
- Riskonnect, Inc. (Georgia, United States)
- OneTrust, LLC (Georgia, United States)
- Ideagen Plc (Nottingham, United Kingdom)
- NAVEX Global, Inc. (Oregon, United States)
- Dell Technologies (Texas, United States)
- Infosys Limited (Bengaluru, India)
- MetricStream Inc. (California, United States)
- Thomson Reuters Corporation (Toronto, Canada)
- Microsoft Corporation (New Mexico, United States)
- SAS Institute (North Carolina, United States)
Quick Buy – eGRC Market Research Report:
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Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Enterprise Governance, Risk, and Compliance (eGRC) Key Players Share Market Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Enterprise Governance, Risk, and Compliance (eGRC) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Software
- Services
- By Deployment Model (Value)
- Cloud-based
- On-premise
- By Organization Size (Value)
- Large Enterprise
- Small & Medium business enterprise
- By Vertical (Value)
- BFSI
- Healthcare
- Government
- Energy & Utilities
- Manufacturing
- Retail & Consumer Goods
- Telecom & IT
- Others (Transportation & Logistics, Construction, etc.)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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Artificial Intelligence
IG Canada Announces Enhanced Trading Platform for Enhanced User Experience
Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.
IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053
View original content:https://www.prnewswire.co.uk/news-releases/ig-canada-announces-enhanced-trading-platform-for-enhanced-user-experience-302127189.html
Artificial Intelligence
Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment
This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM
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Artificial Intelligence
Homestyler to Recruit First Batch of Global Partners in 20 Countries
MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.
Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.
View original content:https://www.prnewswire.co.uk/news-releases/homestyler-to-recruit-first-batch-of-global-partners-in-20-countries-302127111.html
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