Reports
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 reached a value of about USD 38.23 billion in 2023. The market is further expected to grow at a CAGR of around 11.2% to reach a value of nearly USD 99.45 billion by 2032.
North America is the leading region, accounting for the majority of the global market share. The United States will account for large revenue shares in the area where the adoption of integrated data systems by financial institutions to streamline internal as well as external data sources would lead to the expansion of the sector.
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Market Segmentation
Governance, risk, and compliance or GRC refer to a structured approach used by the company to handle problems related to corporate governance, enterprise risk management (ERM) as well as to comply fully with regulatory requirements. This helps to enhance the decision-making process, increase optimum expenditure, and reduce overlap between different divisions or departments. It also allows users to implement standards, recognise organisational inefficiencies, reduce the workload of administrators, minimise various implementation costs, and automate most of the paperwork.
The deployment model of the market can be divided into on-premises and cloud.
On the basis of solution, the industry can be divided into:
- Audit Management
- Risk Management
- Policy Management
- Compliance Management
- Others
Based on component, the industry can be bifurcated into software and services.
Based on service, the market can be divided into the following:
- Integration
- Consulting
- Support
The end uses can be categorised as follows:
- Small Enterprise
- Medium Enterprise
- Large Enterprise
Based on industry vertical, the industry is divided into the following:
- BFSI
- Construction and Engineering
- Energy and Utilities
- Government
- Healthcare
- Manufacturing
- Retail and Consumer Goods
- Telecom and IT
- Transportation and Logistics
- Others
The regional markets for governance, risk, and compliance platform include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Analysis
A successful GRC platform helps to detect issues well before they arise, centralises the whole system in one place, and incorporates risk management across all controls and processes. There has been a rapid development in the GRC application market across the globe as a result of a substantial increase in the number of new organisations despite the prevailing corporate and government regulations. Furthermore, as these platforms enable businesses to meet their GRC objectives by automating the workflow, numerous organisations are implementing GRC platforms to improve their organisational activities and provide employees with a satisfactory experience. Therefore, companies are increasingly using GRC systems as a standard method to resolve enforcement and risk concerns rather than resolving them individually. All these drivers contribute to the growth of the market.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global governance, risk, and compliance platform market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- SAS Institute Inc.
- IBM
- SAP America, Inc.
- Microsoft
- Dell Technologies, Inc.
- Oracle
- Others
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.
| 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, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | SAS Institute Inc., IBM, SAP America, Inc., Microsoft, Dell Technologies, Inc., Oracle, 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 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Cloud
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.5 Global Governance, Risk, and Compliance Platform Market by Solution
8.5.1 Audit Management
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Risk Management
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Policy Management
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Compliance Management
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 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 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Services
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global Governance, Risk, and Compliance Platform Market by Service
8.7.1 Integration
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Consulting
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Support
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 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 Market Share
8.8.1.2 Historical Trend (2018-2023)
8.8.1.3 Forecast Trend (2024-2032)
8.8.2 Medium Enterprise
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2023)
8.8.2.3 Forecast Trend (2024-2032)
8.8.3 Large Enterprise
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2023)
8.8.3.3 Forecast Trend (2024-2032)
8.9 Global Governance, Risk, and Compliance Platform Market by Industry Vertical
8.9.1 BFSI
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2023)
8.9.1.3 Forecast Trend (2024-2032)
8.9.2 Construction and Engineering
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2023)
8.9.2.3 Forecast Trend (2024-2032)
8.9.3 Energy and Utilities
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2023)
8.9.3.3 Forecast Trend (2024-2032)
8.9.4 Government
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2023)
8.9.4.3 Forecast Trend (2024-2032)
8.9.5 Healthcare
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2023)
8.9.5.3 Forecast Trend (2024-2032)
8.9.6 Manufacturing
8.9.6.1 Market Share
8.9.6.2 Historical Trend (2018-2023)
8.9.6.3 Forecast Trend (2024-2032)
8.9.7 Retail and Consumer Goods
8.9.7.1 Market Share
8.9.7.2 Historical Trend (2018-2023)
8.9.7.3 Forecast Trend (2024-2032)
8.9.8 Telecom and IT
8.9.8.1 Market Share
8.9.8.2 Historical Trend (2018-2023)
8.9.8.3 Forecast Trend (2024-2032)
8.9.9 Transportation and Logistics
8.9.9.1 Market Share
8.9.9.2 Historical Trend (2018-2023)
8.9.9.3 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 Market Share
8.10.1.2 Historical Trend (2018-2023)
8.10.1.3 Forecast Trend (2024-2032)
8.10.2 Europe
8.10.2.1 Market Share
8.10.2.2 Historical Trend (2018-2023)
8.10.2.3 Forecast Trend (2024-2032)
8.10.3 Asia Pacific
8.10.3.1 Market Share
8.10.3.2 Historical Trend (2018-2023)
8.10.3.3 Forecast Trend (2024-2032)
8.10.4 Latin America
8.10.4.1 Market Share
8.10.4.2 Historical Trend (2018-2023)
8.10.4.3 Forecast Trend (2024-2032)
8.10.5 Middle East and Africa
8.10.5.1 Market Share
8.10.5.2 Historical Trend (2018-2023)
8.10.5.3 Forecast Trend (2024-2032)
9 North America Governance, Risk, and Compliance Platform Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Governance, Risk, and Compliance Platform Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Governance, Risk, and Compliance Platform Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Governance, Risk, and Compliance Platform Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 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 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 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 America, Inc.
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
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 Technologies, 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 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 nearly 11.2% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 99.45 billion by 2032.
The major market drivers include the growing adoption of integrated data systems by financial institutions, the increasing focus on centralising governance, risk, and compliance, as well as surging digitalisation.
The increasing number of new organisations, the growing attempts to boost productivity in ogranisations, and the rising use of governance, risk, and compliance platform to resolve enforcement and risk concerns are the key trends supporting the market growth.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The major deployment models in the market are on-premises and cloud.
The various solutions considered in the market report include audit management, risk management, policy management, and compliance management, among others.
The major components of the product in the market are software and services.
The significant services considered in the market report are integration, consulting, and support.
Small enterprise, medium enterprise, and large enterprise are the different end uses of governance, risk, and compliance platform.
The various industry verticals considered in the market report include BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecom and IT, and transportation and logistics, among others.
The leading players in the market are SAS Institute Inc., IBM, SAP America, Inc., Microsoft, Dell Technologies, Inc., and Oracle, among others.
Analyst Review
The global governance, risk, and compliance platform market attained a value of USD 38.23 billion in 2023, driven by the growth in the use by the companies. Aided by the growth in the number of new organizations despite the prevailing corporate and government regulations, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11.2%. The industry is projected to reach USD 99.45 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its deployment models, the global market for governance, risk, and compliance platform can be segmented into on-premises and cloud. By solutions, the industry can be segmented into audit management, risk management, policy management, and compliance management, among others. On the basis of end-use, the industry can be divided into small enterprise, medium enterprise, and large enterprise. The major regional markets for governance, risk, and compliance platform are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above industry include SAS Institute Inc., IBM, SAP America, Inc., Microsoft, Dell Technologies, Inc., and Oracle, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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