The global eGRC market is growing at a CAGR of 8.5% during the forecast period. GRC solutions are used for regulatory control, risk monitoring, relations, and internal control. Rising adoption of compliance and risk management solutions through different enterprises is fueling the growth of the eGRC market. However, the lack of awareness regarding the advantages of EGRC is limiting the enterprise governance, risk and compliance market growth. Better governance leads to the success of an enterprise and adheres to economic growth. The robust corporate governance enables investors to maintain their confidence due to which enterprise raises funds efficiently. It plays an important role in reducing capital costs and offers a positive impact on the market share price. Rising need for assessment of third party and audits are anticipated to contribute to the market growth.
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Every organization must identify and protect against risks and enhance their operations. EGRC enables business in rationalizing controls and identifies operational inefficiency and combines data, policies, and controls and established results in a visible manner. The adoption of GRC in the organization aims to reduce costs and strengthen their decision-making capabilities to enhance business performance is one of the most important factors of the eGRC market. The stressed existing resource planning system and insufficient capacities of systems have strengthened the adoption of the eGRC system in the market. Furthermore, increasing regulatory requirements and growing demand for corporate governance have rising adoption of eGRC solutions in the enterprises and industry is anticipated to grow the eGRC industry.
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Enterprise Governance, Risk and Compliance (eGRC) Market- Segmentation
By Solution
- Policy Management
- Risk Management
- Audit Management
- Compliance Management
- Others
By Component
- Software
- Services
By Vertical
- BSFI
- Construction & Engineering
- Energy & Utilities
- Government
- Healthcare
- Retail & Consumer Goods
- Transportation & Logistics
- Telecom & IT
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
