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The global eGRC market is being led by North America, which is projected to have the largest eGRC market globally in the forecast period. The region is home to important vendors who follow various organic and inorganic approaches to sustain their competitive market. However, Asia Pacific's growth rate is expected to be the highest in the forecast period. Its robust growth is attributed to the numerous suppliers of eGRC (Enterprise Governance, Risk, and Compliance) that are extending their scope in the region to satisfy the growing demands of customers.
The market finds wide applications in various industries. The leading key players are expanding their reach across multiple application sectors. For example, International Business Machines Corporation (IBM) Corporation (NYSE: IBM), one of the leading companies in the market, has an OpenPages GRC platform. This platform allows businesses to manage risk, regulatory hurdles, as well as regulatory changes across the business. It can examine large amounts of structured and unstructured information, like social media and security systems, from emerging and existing sources. The OpenPages GRC platform facilitates agile implementation for a quick time-to-value and to increase overall productivity and performance. This advantage helps companies to meet deadlines and to use strategies to meet the rapidly evolving regulatory and market requirements.
Market Analysis by Solution, Services, Function, End Use, and Region:
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The major key players in the global eGRC market include companies like International Business Machines Corporation (IBM) Corporation, Microsoft Corporation, Oracle Corporation, SAS Institute Inc., Thomson Reuters Corporation, and Wolters Kluwer N.V., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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