Enterprise
governance, risk and compliance (eGRC) is a strategic
discipline which arms organizations to identify and protect against
relevant risks and improve their operations. eGRC helps businesses in
reducing costs, rationalizing controls and identify operational
inefficiencies. In other terms, eGRC integrates data, policies and
controls and develops the results in strategically visible manner.
The eGRC market is
segmented on the basis of business type, deployment model, enterprise
size, services and end-use industry. On the basis of business type,
eGRC market is categorized as IT, finance, operations and legal.
Based on deployment model, eGRC market is classified into on-premise
and hosted. In terms of enterprise size, eGRC market is segmented
into small and medium enterprises and large organizations. In terms
of services, eGRC market is further sub-divided into installation and
training, consulting and support. On the basis of end-use industry,
eGRC market is segmented into telecom and IT, manufacturing, health
care, banking, financial services and insurance (BFSI), energy and
utility, retail and hospitality, government, mining and others
(education, construction, etc.). Moreover, eGRC market is further
segmented into various geographies such as North America, Europe,
Asia Pacific, Middle East and Africa and South America.
With organizations
aiming to reduce costs and strengthen their decision-making
capabilities to improve business performance, this factor has evolved
as one of the strongest growth driver for eGRC market. Already
stressed existing enterprise resource planning (ERP) systems and
inadequate monitoring capacities of existing systems has supplemented
the adoption of eGRC systems. Moreover, growing regulatory
requirements and demand for corporate governance has fuelled the
adoption of eGRC solutions among enterprises. However, lack of
awareness of eGRC particularly in small and medium businesses is
anticipated to erode its market growth; this factor is expected to
have high impact in earlier part of the forecast period. Alongside
this, continuous changes in companies and increasing federal laws is
likely to curb the market growth of eGRC market. Also, improving IT
ecosystem especially in Asia Pacific region is likely to result in
significant growth eGRC market in near term.
On a global scale,
eGRC market is currently dominated by North America region. Early
adoption of eGRC systems and significant presence of multinational
manufacturers is among the key factors driving the market in North
America region. However, Asia Pacific is likely to exhibit superior
growth rate during the forecast period from 2016 to 2024. In terms of
deployment model, on-premise eGRC tools are expected to hold
significant market share, although, hosted eGRC solutions are likely
to gain significant traction in the later part of the forecast
period. BFSI and government sectors are likely to be among the
frontrunners of eGRC market. The significant demand for risk
management, audit management, and policy & compliance management
tools is likely to be the prime factors resulting in the adoption of
eGRC solutions in aforementioned applications.
Get Sample Report
Copy :
Some of the major
vendors in development and manufacturing of eGRC market are EMC
Corporation, SAS Institute, Inc., Oracle Corporation, Microsoft
Corporation, IBM Corporation, SAP SE, Deloitte LLP, Maclear SA, BWise
BV, Software AG, Fidelity National Information Services, Inc. (FIS),
Thomson Reuters Corporation, Protiviti Inc and Modulo Security, LLC.
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
No comments:
Post a Comment