Title: Governance, Risk Management & Compliance (GRC) Market share forecast to witness considerable growth from 2018 to 2024
1Governance, Risk Management Compliance (GRC)
market share research by applications and regions
for 2018-2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
2Overview of Governance, Risk Management
Compliance (GRC) Market
- North America GRC market is leading the market
followed by Europe. The growth of the market is
attributed to the rising incidences of the cyber
attacks in the region. Furthermore, the adoption
of the big data, cloud services, and IoT
technology fosters the market growth. Asia
Pacific is estimated to grow substantially during
the forecast timeline. The growing adoption of
the cloud services in the region is driving the
market growth. Furthermore, growing adoption of
the solutions among the SMBs is propelling the
market growth. - Governance, Risk Management Compliance (GRC)
Market size is driven mainly by the increasing
incidences of the cyber-attacks across the
countries. In 2017, approximately 164 increase
in the cyber security attacks across the globe
has been witnessed as compared to 2016. This
encourages organizations to adopt advanced risk
management solutions to mitigate the risks of
cyber security attacks. Furthermore, the
stringent government regulations and growing need
to adhere to the compliance and corporate
governance standards are driving the growth of
the GRC market.
3Continue
- The rise in the use of Artificial Intelligence
(AI)-enabled eGRC solutions and the adoption of
the software-enabled businesses IT
infrastructure are developing myriad growth
opportunities for the growth of the market.
However, the high installation cost of the
solutions and uncertain government regulations
due to uncertain regimes are restricting the
growth of the GRC market. - There are three main components of GRC market,
governance, risk, and compliance. Governance
ensures the alignment of operational activities
with the organizational business goals, Risk is
associated with the identification of risks
involved in business activities along with its
optimal solution to avoid severe consequences and
Compliance makes sure that the organizational
processes and activities meet the laws and
regulations related to those systems. - The policy management, risk management, and audit
compliance management are the major solutions
available in the market. Policy management is the
governance part of the software that involves
specifying, updating, communicating, publishing,
and enforcing of the policy. The audit management
software offers a centralized process to automate
the complete the audit lifecycle. Whereas, the
risk compliance management part of the software
includes processes to mitigate or minimize risks,
utilize the opportunities, and check its
compliance with global laws and organizational
policies.
4 Browse Full Research Report On Governance, Risk
Management Compliance (GRC) Market
_at_ https//bit.ly/2lNjWay Request for an
in-depth table of contents for this report _at_
https//bit.ly/2Krc5hY www.gminsights.com/reque
st-toc/upcoming/1797
5Continue
- The software can be deployed in two ways on
premise or cloud based to avail its benefits. The
cloud-based system is widely implemented across
the organizations as it is a quick and easy way
to perform operations and the cloud gives optimal
reliability, security, and scalability in lower
cost as compared to the on-premise system. - The GRC market is also segmented into integrated,
domain specific, and point solutions. The
integrated solution provides an overall
industrial solution to an organization. The
domain specific offers solutions applicable to
specific industry verticals in-line with the
organizational goals. Point solutions provide are
used to address the customer-specific challenges. - Transportation and logistics, IT, BFSI,
construction and engineering, energy and utility,
government, manufacturing, and retail are some of
the major end users of the GRC market. BFSI
sector holds the major share due to the rising
need among the financial institutes to mitigate
the risk of cyber-attacks. The solutions are also
used to maintain transparency in the system and
provide customized services to end users.
6Continue
- The major market players in the GRC market are
IBM, SAP, SAS Institute, Microsoft, EMC, Fidelity
National Information Services, Oracle, Metric
Stream, Turnkey consulting, Thomson Reuters, RSA
Archer, Newport Consulting Group, BWise, and ACL.
The software providers are mainly focused on the
development of more intuitive and configurable
platforms, offering expanded content options and
better integration. For instance, in June 2018,
SAP launched GRC 12.0, the latest version of the
on-premise software that comes with new
dashboard, monitoring, and aggregation features.
Similarly, in June 2017, Turnkey Consulting, the
risk management consultancy institute launched
its new product, Bedrock. -
- Multinational companies are leveraging on the
mergers and acquisition activities to increase
their product line, customer base, and market
share. For instance, in April 2018, Oracle
acquired Grapeshot to strengthen its
technological base and provide better services to
the market. Also, IBM acquired Agile 3 Solutions
in February 2017 and Promontory Financial Group
in September 2016 to improvise its services in
the data security and risk management segment.
7Methodology
- Market
research reports Key analytical components
8Stay In Touch Website www.gminsights.com Soci
al Media