The global enterprise governance, risk & compliance market size is expected to reach USD 96.98 Billion by 2028 according to a new study by Polaris Market Research. The report “Enterprise Governance, Risk & Compliance Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Software (Audit Management, Compliance Management, Risk Management, Policy Management, Incident Management, Others); By Services; By Vertical; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The noticeable factors esteeming the market growth include the rapid rise in the emergence of digitalization and IoT in business processes with the ever-changing landscape of government policies across the industrial and manufacturing sector. In addition, the growing need to meet strict obligations and get a holistic view concerning data to manage business operations efficiently are the few integral factors accelerating the industry growth during the forecasting years.
Compliance management teams and risk superiors in enterprises are struggling to manage this epidemic, and thus, EGRC has emerged as one of the advanced software to secure the business. Further, the COVID-pandemic experienced a significant transition toward digitalization in enterprises, paving a demand for the industry.
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Market participants such BWise, Dell EMC, Fidelity National Information Services, Inc. (FIS), FIS, IBM Corporation, Ideagen, Maclear, mega international, metricstream, MetricStream Inc., Microsoft Corporation, Modulo Security, LLC, MPHASIS, Oracle Corporation, RSA Security, SAS Institute Inc., SAP SE, Servicenow, Software AG, Thomson Reuters, Wolter Kluwer are some of the key players operating in the global industry.
Several manufacturers are often backing to opt for distinct marketing strategies to expand their business operations globally. In May 2021, Refinitiv signed a partnership agreement with IBSFINtech to unveil a new InTReax, which is used for currency risk management, cash and liquidity management, and industry insight.
Polaris Market Research has segmented the enterprise governance, risk & compliance market report on the basis of component, software, services, enterprise type, vertical, and region:
Enterprise Governance, Risk & Compliance, Component Outlook (Revenue - USD Million, 2016 - 2028)
Enterprise Governance, Risk & Compliance, Software Outlook (Revenue - USD Million, 2016 - 2028)
Enterprise Governance, Risk & Compliance, Services Outlook (Revenue - USD Million, 2016 - 2028)
Enterprise Governance, Risk & Compliance, Vertical Outlook (Revenue - USD Million, 2016 - 2028)
Enterprise Governance, Risk & Compliance, Regional Outlook (Revenue - USD Million, 2016 - 2028)