The global enterprise governance, risk, and compliance market attained a value of more than USD 51.21 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 13.70% to reach over USD 184.91 Billion by 2034.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
13.7%
Value in USD Billion
2025-2034
Enterprise Governance, Risk, and Compliance Market Outlook
*this image is indicative*
The BFSI (banking, financial services, and insurance) sector is projected to occupy a substantial market share in the enterprise governance, risk, and compliance industry during the forecast period. Enterprise governance, risk, and compliance is essential for successful risk management because it recognises potential threats to customers and third parties across all lines of business and operations in the BFSI industry. Major banks and financial institutions observed a significant increase in phishing and other associated attacks. Furthermore, Mexico experienced a significant rise in banking trojans, ransomware attacks, point-of-sale malware, ATM exploitation, and customer scamming in the historical period. The rise in these issues galvanised banks and financial institutions to utilise analytics to detect any entity-level linkages and monitor suspicious activities of different linked accounts used for illegal activities. Hence, large investments were made by banks and financial institutions which made a positive impact on the growth of the industry.
Geographically, North America accounts for a significant share in the industry owing to the early adoption of innovative technologies and the presence of prominent key players within the region. The demand for enterprise governance, risk, and compliance is one of the highest in the United States because of strict corporate governance regulations. Furthermore, the increased application of cloud computing and the growing risk of cyber-attacks within the region are aiding the industry. Meanwhile, the rapidly advancing IT infrastructure and the necessity to address internal and external business risks are also driving the enterprise governance, risk, and compliance industry.
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Enterprise governance, risk, and compliance, often abbreviated as eGRC, is an organisational strategy that addresses governance, risk management, and compliance by creating policies, procedures, regulatory controls, risk assessment, risk monitoring, and internal controls. It enables organisations to achieve their targeted goals through workflow automation while adhering to policy standards and regulatory requirements, as a result eliminating financial risks and protecting the organisation's brand image.
By component, the market is divided into:
Based on software, the industry can be segmented into:
By services, the industry can be categorised into:
Based on enterprise size, the industry can be segmented into:
On the basis of industry vertical, the industry can be categorised into:
On the basis of region, the industry can be categorised into:
The global enterprise governance, risk, and compliance industry is being driven by the integration of technologies like artificial intelligence (AI), internet of things (IoT), machine learning (ML), and cloud computing, enhancing the traditional software solutions and services. Additionally, the AI-enabled enterprise governance, risk, and compliance solutions are highly adopted across organisations because they offer effective analytical features. Furthermore, the AI-enabled solutions help organisations and governments to regularly deal with the enormous data processing volumes. These solutions offer features such as process optimisation, cost reduction, and improved effectiveness. Over the forecast period, the growing integration of technologies like artificial intelligence and machine learning owing to the rapid digitalisation across industry verticals is expected to significantly contribute to the market growth.
The report gives a detailed analysis of the following key players in the global enterprise governance, risk, and compliance market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
The increasing adoption by various companies of compliance and risk management solutions is expected to be the key growth driver for the eGRC market.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the global enterprise governance, risk, and compliance market attained a value of more than USD 51.21 Billion.
The market is projected to grow at a CAGR of 13.70% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach over USD 184.91 Billion by 2034.
The major drivers of the industry, such as the growing concerns of cyber-attacks and suspicious banking activities, strict corporate governance regulations, advancing IT infrastructure, and the necessity to address external and internal business risks, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the integration of advanced technology like artificial intelligence, machine learning, and cloud computing, among others.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different components are software and services.
The different segments, based on software, include audit management, compliance management, risk management, policy management, incident management, and others.
On the basis of services, the industry can be bifurcated into integration, consulting, and support.
The different segments based on enterprise size are small and medium enterprise (SME) and large enterprise.
The significant industry verticals are BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecom and IT, transportation and logistics, and others.
The major players in the industry are BWise, Dell EMC, Microsoft Corporation, IBM Corporation, Maclear, MetricStream Inc, and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Software |
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| Breakup by Services |
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| Breakup by Enterprise Size |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
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