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Governance, Risk, and Compliance Platform Market

Global Governance, Risk, and Compliance Platform Market Size: By Deployment Model: On-Premises, Cloud; By Solution: Audit Management, Risk Management, Policy Management, Compliance Management, Others; By Component; By Service; By End Use; By Industry Vertical; Regional Analysis; Competitive Landscape; 2024-2032

Global Governance, Risk, and Compliance Platform Market Outlook

The global governance, risk, and compliance platform market size attained a value of USD 38.23 billion in 2023. The market is expected to grow at a CAGR of 11.2% between 2024 and 2032 to reach almost USD 99.45 billion by 2032.

 

Key Takeaways:

  • Eurostat reports that ICT services and manufacturing saw steady annual growth rates of 28.9% and 20.4% respectively from 2015 to 2020, leading to the expansion of the governance, risk, and compliance platform market.
  • According to the U.S. Bureau of Labor Statistics in 2022, there's been a significant increase in labour across multiple sectors, thus driving the global governance, risk, and compliance platform market expansion.
  • Adopting a GRC framework supports proactive risk mitigation, informed decision-making, and business continuity, offering holistic operations management and regulatory compliance.

 

Governance, risk, and compliance (GRC) framework serves as a structured approach for handling governance and compliance risks within an organisation. It encompasses the identification of critical policies essential for steering the company towards its objectives.

 

As per the global governance, risk, and compliance platform market report, embracing a GRC framework enables a proactive stance in risk mitigation, facilitating informed decision-making and safeguarding business operations for continuity. It offers a holistic approach to managing operations, ensuring regulatory compliance, informed decision-making, efficient IT investments, centralized risk assessment, and cost reduction, meeting global demand.

 

As per the U.S. Bureau of Labor Statistics in 2022, there has been a noticeable rise in labour across various sectors. This trend has played a role in driving the expansion of the market for governance, risk, and compliance platforms.

 

INDUSTRIES WITH THE HIGHEST LEVELS OF EMPLOYMENT IN COMPLIANCE OFFICERS

Global Governance, Risk, and Compliance Platform Market

 

Key Trends and Developments

The global governance, risk, and compliance platform market growth is driven by increasing focus on risk mitigation, rising cyber threats, evolution in regulations, and boosting new organisations.

 

January 2024

Konfer launched an AI GRC Control Questions Generator and Catalog, aiding enterprise risk officers in developing governance controls based on specific AI Regulations.

 

October 2023

Pathlock Cloud introduced its newest release for application access governance, empowering businesses to reduce compliance expenses significantly.

 

October 2023

PwC India and Workiva collaborated in a strategic partnership to assist Indian companies in automating risk and compliance operations.

 

May 2023

Onspring, a SaaS platform focusing on GRC, secured strategic funding. Its automated GRC software provides enterprise-wide no-code connectivity, offering innovative integration.

 

Increasing risk mitigation

Increasing awareness drives organisations to prioritize risk mitigation, fuelling global governance, risk, and compliance platform market development. GRC platforms offer comprehensive risk visibility, enabling proactive risk identification and mitigation. They enhance decision-making and facilitate centralised risk management, minimising vulnerabilities and ensuring business continuity.

 

Rising cyber threats

Growing cyber threats globally is driving market expansion. Increased GRC platform adoption safeguards sensitive data and intellectual property, integrating cybersecurity practices. These platforms bolster defences and offer real-time monitoring, threat detection, and incident response, ensuring cybersecurity is integral to overall risk management, and minimising data breach risks and consequences.

 

Evolution in regulations

As per the global governance, risk, and compliance platform market analysis, industries grapple with evolving compliance demands, seeking to sidestep legal and financial ramifications. GRC platforms provide a unified solution for managing compliance efforts, automating processes, streamlining reporting, and enhancing accuracy and transparency.

 

Growing new organisations

GRC platforms automate workflows, aiding in meeting objectives and enhancing organisational efficiency, driving widespread adoption for resolving compliance and risk issues efficiently.

 

Global Governance, Risk, And Compliance Platform Market Trends

GRC encompasses structured practices and procedures aimed at aligning IT with business goals. It aids in efficiently managing IT and security risks, cutting costs, meeting compliance, and enhancing decision-making by offering an integrated view of risk management effectiveness.

 

GRC facilitates the establishment, automation, and oversight of risk assessments and mitigation strategies. Data from GRC platforms informs decision-making and resource allocation for risk mitigation. Audits, such as those mandated by the Sarbanes-Oxley Act, set benchmarks for GRC operations, necessitating departments to safeguard sensitive information for compliance readiness.

 

Market Segmentation

Global Governance, Risk, And Compliance Platform Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Deployment Model

  • On-Premises  
  • Cloud 

 

Market Breakup by Solution

  • Audit Management
  • Risk Management 
  • Policy Management 
  • Compliance Management  
  • Others

 

Market Breakup by Component

  • Software
  • Services 

 

Market Breakup by Service

  • Integration
  • Consulting
  • Support  

 

Market Breakup by End Use

  • Small Enterprise
  • Medium Enterprise
  • Large Enterprise   

 

Market Breakup by Industry Vertical

  • BFSI
  • Construction and Engineering 
  • Energy and Utilities
  • Government
  • Healthcare
  • Manufacturing
  • Retail and Consumer Goods
  • Telecom and IT
  • Transportation and Logistics
  • Others   

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

The on-premises deployment model is witnessing growth in the governance, risk, and compliance platform market, attributed to its user-friendly nature and provision of direct data and security control to businesses

Organisations preferring data sovereignty, stringent regulations, or existing infrastructure investments favour this deployment. Rising adoption of on-premises solutions, offering customisation and security, drives market growth.

 

A cloud-based governance, risk, and compliance management framework that streamlines security operations in the cloud to meet enterprise business objectives efficiently.

 

In terms of solutions, compliance management dominates the global governance, risk, and compliance platform market share, ensuring conformity to pertinent regulations, standards, and internal protocols

GRC platforms' compliance management ensures adherence to regulations, standards, and internal policies, streamlining processes via centralised documentation, tracking, reporting, and automation.

 

GRC auditing evaluates how an organization implements GRC processes compared to a selected GRC framework. GRC auditing activities generally involve the following: Checking evidence that the organisation has GRC controls in place. Testing security controls that manage cybersecurity risks.

 

Software holds a significant market share in the governance, risk, and compliance platform market, offering organisations a unified solution for centralising data, automating processes, and optimizing workflows

GRC software integrates data analytics, reporting dashboards, workflow automation, and system integration, aiding businesses in proactive risk detection, regulatory compliance, and informed decision-making with advanced algorithms and real-time monitoring.

 

Services encompass tools and methodologies that harmonise an organisation's governance and risk management with its technological advancement and implementation.

 

Integration services drives the governance, risk, and compliance platform market growth by facilitating seamless interaction between the GRC solution and diverse systems

Consulting services offer specialized advice to organizations in implementing GRC solutions, assessing needs, recommending strategies, and tailoring platforms to align with objectives. Support services provide ongoing technical assistance, troubleshooting, and updates to maintain optimal functionality and security, ensuring minimal disruptions.

 

Medium-sized enterprises led the governance, risk, and compliance platform market share, often necessitating effective GRC solutions to effectively address risk management challenges

GRC platforms designed for large enterprises provide both extensive functionality and scalability, addressing their unique requirements. These solutions aid in consolidating compliance efforts, mitigating risks, and establishing robust governance practices cost-effectively.

 

BFSI constitutes a significant chunk of the global governance, risk, and compliance platform market

The BFSI sector utilises GRC platforms for risk management, compliance, and ethical practices. Tailored solutions include specialised modules for industry-specific challenges like AML regulations and financial reporting standards.

 

GRC also holds significance in sectors such as energy and utilities, government, healthcare, manufacturing, and other industry verticals, ensuring compliance and effective risk management practices.

 

Global Governance, Risk, And Compliance Platform Market Analysis by Region

North America dominated the market share owing to heightened demand for GRC platforms aimed at risk management and ethical governance.

 

The Asia Pacific region is driving growth in the GRC market due to increasing demand across various sectors. The rapid expansion of China's insurance sector is particularly contributing to this market growth, as reported by the National Bureau of Economic Research.

 

TOTAL PREMIUM REVENUE OF INSURANCE COMPANIES IN CHINA FROM 2019 TO 2022 (IN BILLION CNY).

Global Governance, Risk, and Compliance Platform Market

 

According to Eurostat data, in Europe from 2015 to 2020, there was consistent annual growth in the value added by ICT services by 28.9%, and in ICT manufacturing by 20.4%. This growth has contributed to the governance, risk, and compliance platform market development.

 

Competitive Landscape

The companies are entering into strategic partnerships and are adopting AI and IoT to maintain their dominance in the market.

 

SAS Institute Inc. was founded in 1976 and is based in the United States. It specialises in advanced and predictive analytics software, alongside business intelligence and data visualization solutions.

 

IBM established in 1911 and based in the United States, focuses on addressing needs in various engineering lifecycle disciplines, including requirements and workflow management, system and software modelling, and test planning and execution. The ELM solution integrates artificial intelligence (AI) and analytics, offering advantages to teams designing software-intensive systems and products.

 

SAP SE was founded in 1988 and is based in the United States. The company provides SAP application software tailored for business enterprises, encompassing supplier relationships, production, warehouse management, sales, customer relationships, and administrative functions.

 

Microsoft Corporation was founded in 1975 and is based in the United States. The company develops, licenses, and provides support for various enterprise and consumer software products and services. These offerings encompass operating systems for personal computers, servers, and phones, server applications and management tools, as well as productivity applications.

 

Other global governance, risk, and compliance platform market key players are Dell, Inc., Oracle, Amazon Web Services, Inc., ServiceNow, Archer Technologies (Cinven), Mitratech Holdings, Inc. among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Deployment Model
  • Solution
  • Component
  • Service
  • End Use
  • Industry Vertical
  • Region
Breakup by Deployment Mode
  • On-Premises
  • Cloud
Breakup by Solution
  • Audit Management
  • Risk Management
  • Policy Management
  • Compliance Management
  • Others
Breakup by Component
  • Software
  • Services
Breakup by Service
  • Integration
  • Consulting
  • Support
Breakup End Use
  • Small Enterprise
  • Medium Enterprise
  • Large Enterprise
Breakup by Industry Vertical
  • BFSI
  • Construction and Engineering
  • Energy and Utilities
  • Government
  • Healthcare
  • Manufacturing
  • Retail and Consumer Goods
  • Telecom and IT
  • Transportation and Logistics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • SAS Institute Inc.  
  • IBM 
  • SAP SE
  • Microsoft Corporation
  • Dell, Inc.
  • Oracle
  • Amazon Web Services, Inc.
  • ServiceNow
  • Archer Technologies (Cinven)
  • Mitratech Holdings, Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Governance, Risk, and Compliance Platform Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Governance, Risk, and Compliance Platform Historical Market (2018-2023) 
    8.3    Global Governance, Risk, and Compliance Platform Market Forecast (2024-2032)
    8.4    Global Governance, Risk, and Compliance Platform Market by Deployment Model
        8.4.1    On-Premises  
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Cloud 
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Governance, Risk, and Compliance Platform Market by Solution
        8.5.1    Audit Management    
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Risk Management 
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Policy Management 
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Compliance Management  
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others
    8.6    Global Governance, Risk, and Compliance Platform Market by Component
        8.6.1    Software     
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Services 
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Governance, Risk, and Compliance Platform Market by Service
        8.7.1    Integration  
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Consulting 
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Support  
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
    8.8    Global Governance, Risk, and Compliance Platform Market by End Use
        8.8.1    Small Enterprise  
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Medium Enterprise 
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Large Enterprise   
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
    8.9    Global Governance, Risk, and Compliance Platform Market by Industry Vertical
        8.9.1    BFSI  
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Construction and Engineering 
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Energy and Utilities    
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Government  
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Healthcare 
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
        8.9.6    Manufacturing 
            8.9.6.1    Historical Trend (2018-2023)
            8.9.6.2    Forecast Trend (2024-2032)
        8.9.7    Retail and Consumer Goods    
            8.9.7.1    Historical Trend (2018-2023)
            8.9.7.2    Forecast Trend (2024-2032)
        8.9.8    Telecom and IT  
            8.9.8.1    Historical Trend (2018-2023)
            8.9.8.2    Forecast Trend (2024-2032)
        8.9.9    Transportation and Logistics 
            8.9.9.1    Historical Trend (2018-2023)
            8.9.9.2    Forecast Trend (2024-2032)
        8.9.10    Others   
    8.10    Global Governance, Risk, and Compliance Platform Market by Region
        8.10.1    North America
            8.10.1.1    Historical Trend (2018-2023)
            8.10.1.2    Forecast Trend (2024-2032)
        8.10.2    Europe
            8.10.2.1    Historical Trend (2018-2023)
            8.10.2.2    Forecast Trend (2024-2032)
        8.10.3    Asia Pacific
            8.10.3.1    Historical Trend (2018-2023)
            8.10.3.2    Forecast Trend (2024-2032)
        8.10.4    Latin America
            8.10.4.1    Historical Trend (2018-2023)
            8.10.4.2    Forecast Trend (2024-2032)
        8.10.5    Middle East and Africa
            8.10.5.1    Historical Trend (2018-2023)
            8.10.5.2    Forecast Trend (2024-2032)
9    North America Governance, Risk, and Compliance Platform Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Governance, Risk, and Compliance Platform Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Governance, Risk, and Compliance Platform Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Governance, Risk, and Compliance Platform Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and  Africa Governance, Risk, and Compliance Platform Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    SAS Institute Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    IBM
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    SAP SE
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Microsoft Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Dell, Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Oracle
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Amazon Web Services, Inc.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    ServiceNow
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Archer Technologies (Cinven)
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    Mitratech Holdings, Inc.
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Governance, Risk, and Compliance Platform Market: Key Industry Highlights, 2018 and 2032
2.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Deployment Model (USD Billion), 2018-2023
3.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Deployment Model USD Billion), 2024-2032
4.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Solution (USD Billion), 2018-2023
5.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Solution (USD Billion), 2024-2032
6.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Component (USD Billion), 2018-2023
7.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Component USD Billion), 2024-2032
8.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Service (USD Billion), 2018-2023
9.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Service (USD Billion), 2024-2032
10.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by End Use (USD Billion), 2018-2023
11.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
13.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
14.    Global Governance, Risk, and Compliance Platform Historical Market: Breakup by Region (USD Billion), 2018-2023
15.    Global Governance, Risk, and Compliance Platform Market Forecast: Breakup by Region (USD Billion), 2024-2032
16.    North America Governance, Risk, and Compliance Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    North America Governance, Risk, and Compliance Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Europe Governance, Risk, and Compliance Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Europe Governance, Risk, and Compliance Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Asia Pacific Governance, Risk, and Compliance Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Asia Pacific Governance, Risk, and Compliance Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Latin America Governance, Risk, and Compliance Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Latin America Governance, Risk, and Compliance Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Middle East and Africa Governance, Risk, and Compliance Platform Historical Market: Breakup by Country (USD Billion), 2018-2023
25.    Middle East and Africa Governance, Risk, and Compliance Platform Market Forecast: Breakup by Country (USD Billion), 2024-2032
26.    Global Governance, Risk, and Compliance Platform Market Structure

Key Questions Answered in the Report

The global governance, risk, and compliance platform market reached a value of USD 38.23 billion in 2023.

The market is projected to grow at a CAGR of 11.2% between 2024 and 2032.

The revenue generated from the market is expected to reach USD 99.45 billion in 2032.

The governance, risk, and compliance platforms are growing with increasing risk mitigation, rising cyber threats, evolution in regulations, and boosting new organisations.

Based on the deployment model, the market is bifurcated into cloud and on-premises.

Key players in the industry are SAS Institute Inc., IBM, SAP SE, Microsoft Corporation, Dell, Inc., Oracle, Amazon Web Services, Inc., ServiceNow, Archer Technologies (Cinven), and Mitratech Holdings, Inc. among others.

Based on solution, the market is divided into audit management, risk management, policy management, compliance management, and others.

The different services studied are include integration, consulting, and support.

The market is broken down into North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

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