GRC solutions allow you to monitor and coordinate company policies and controls, examine and assess enterprise risks (particularly those that may affect business objectives), assign controls and link them to internal and regulatory compliance requirements.
This market will grow at a compound annual rate of 12.6% until the transfer of a turnover in 2027 of $27,100 million, almost double its estimated value in 2022. This is the forecast of the analytics firm MarketsandMarkets, which blames this development on three factors: compliance with various regulations, Have insight into data and cyber security incidents. Furthermore, the integration of AI and blockchain technology into eGRC solutions and the growing number of partnerships and acquisitions also provide growth opportunities for these types of solutions and services.
By sector, banking and financial institutions are driving the adoption of these solutions and services, while the most widely used deployment method will be the cloud, compared to the on-premises model.
Major global providers are IBM, Microsoft, SAP, SAS Institute, ServiceNow, Thomson Reuters, Wolters Kluwer, FIS, Software AG, MetricStream, Mphasis, Sai Global, LexisNexis, Diligent Corporation, OneTrust, Navex Global, RSA Security, Mega International, Ideagen and LogicManager, Riskonnect, Allgress, CammsGroup, LogicGate, Reciprocity, SureCloud, ProcessGene, LexComply, StandardFusion, Comensure, DynamicGRC, VComply.
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