Governance, Risk, and Compliance (GRC) software offer an efficient and automated solution to risk management, internal auditing, and compliance practices. GRC could be defined as an integrated, holistic approach to organization-wide governance, risk, and compliance to ensure that the organization acts ethically correct and in compliance with the company’s risk appetite, internal policies, and external regulations. Hence, GRC software is responsible for automating the processes and workflows related to documentation, reporting of risk management, and compliance activities related to corporate governance.
The global GRC software market is estimated to grow at a CAGR of 10.3% and reach USD 51.5 billion. A significant contributor to this growth is the need for enforcing stringent compliance mandates, risk and compliance data, get an overview of the holistic view of the policies, and most importantly, the increase in data breaches. Further, new technologies such as AI and blockchain shall give a boost to the global GRC software market.
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The segmentation can be carried out on the basis of the type of GRC software being used, which could be Cloud-Based or Web-Based.
Additionally, based on the organization size and environment where it is being used, the market can also be segmented into large enterprises, and small and medium enterprises (SMEs).
As for the regional analysis, the following areas were analyzed in this report:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, France, the UK, Russia, and Italy)
- The Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America (Brazil, Argentina, Colombia)
- The Middle East and Africa (Saudi Arabia, the UAE, Egypt, Nigeria, and South Africa)
The North American region is the global leader in the GRC software market.
Leading service provider of cloud-based GRC software, ProcessUnity, recently announced the appointment of Sean Cronin as the Chief Executive Officer of the company. Sean is the successor of Todd Stone, who was the co-founder of the company. His 15 years of experience in GRC software is expected to give the company a further boost and improve its standing in the market.
Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Market Competition, by Players
4 Global Market Size by Regions
5 North America Revenue by Countries
6 Europe Revenue by Countries
7 Asia-Pacific Revenue by Countries
8 South America Revenue by Countries
9 Middle East and Africa Revenue by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Global Market Size Forecast (2019-2024)
13 Research Findings and Conclusion
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