North America will have the largest eGRC market size in the forecast period. Countries such as the US and Canada have the highest market share for the market in APAC
Dallas, Texas, Sept. 17, 2020 (GLOBE NEWSWIRE) — The “eGRC Market by Type (Solution, Services), Deployment Mode (On-Premises, Cloud), Organization Size (SMEs, Large enterprise), Business Function ( Finance, Information Technology, Legal, Operations), Vertical (Telecommunication and IT- Enabled Services, Banking, Financial Services, and Insurance, Construction & Engineering, Energy & Utilities, Government, Healthcare, Manufacturing, Mining and Natural Resources, Retail & Consumer Goods, Transportation & Logistics, Others), and By Region (North America, Europe, Asia- Pacific, South America, Middle East & Africa), Global Forecast 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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The eGRC has made a digital revolution with the help of Telecom and the IT industry playing a critical role in it. It has offered a huge opportunity in the eGRC market. The increase in the use of data for enterprises and government has led to the demand in the eGRC market. Besides, the growth in Artificial Intelligence and Blockchain technologies has furthered enhanced the market with great opportunities with global vendors. Hence the eGRC Market Size is likely to grow from USD 25.5 Billion in 2019 to USD 89.48 Billion by 2028, with a CAGR of 13.4%. Growing demand for data and an increase in security breaches throughout the eGRC is driving the market to grow. It is a collection of capabilities that helps an organization improve its overall performance, compliance with regulations, and enterprise risk management.
The components segment is categorized into software and services. The software segment has the highest market size, it is due to automating and streamlining enterprise GRC programs. The implementation of eGRC will rise in the coming future with increased regulatory policies, requirements, and solutions available in the market with advanced technologies such as Artificial Intelligence, Machine Learning, which helps an organization to manage risk and compliance with such actionable risks.
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The implementation of eGRC is expected to result in a decrease in costs and enhanced business efficiency for Small and Medium-sized Enterprises (SMEs). The Large enterprise accounted for large market size and the SME segment is expected to be the fastest-growing segment in the eGRC market. Enhanced reliability, better scalability, user enhancing capabilities, seamless integration, increased agility, and improved efficiency are the factors that encourage SMEs to adopt eGRC at a rapid pace. The segment has a huge potential to flourish in the forecast period.
The EGRC Market has strong competition between new and existing players .these market players have tough competition between themselves concerning participating in partnerships, mergers, and acquisitions and expanding their businesses.
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The EGRC market is subdivided into North America, Europe, APAC, Latin America, and the Middle East & Africa. North America is considered a mature market. The US and Canada are the highest contributory countries to the expansion of the eGRCs market in North America.
The major players of the EGRC Market are IBM Corporation, Microsoft Corporation, SAP SE, SAS Institute Inc., Oracle Corporation, and Thomson Reuter, and more. The eGRC market is fragmented with the existence of well-known global and domestic players across the globe.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 eGRC Market by Types
Chapter 6 eGRC Market by Deployment Mode
Chapter 7 eGRC Market by Function
Chapter 8 eGRC Market by Organization Size
Chapter 9 eGRC Market by Vertical
Chapter 10 eGRC Market by Region
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
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