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eGRC Market size was valued at USD 12.90 billion in 2021 and is poised to grow from USD 14.55 billion in 2022 to USD 38.14 billion by 2030, at a CAGR of 12.8% during the forecast period (2023-2030).

The eGRC (Enterprise Governance, Risk, and Compliance) Market is highly competitive and consists of several key players. These players are continuously focused on developing advanced eGRC solutions to cater to the evolving needs of organizations across various industries. Some prominent companies in the eGRC market include IBM Corporation, SAP SE, Microsoft Corporation, Oracle Corporation, MetricStream Inc., SAS Institute Inc., RSA Security LLC, Thomson Reuters, Wolters Kluwer, and Dell Technologies Inc. These companies compete based on factors such as product features, technological innovation, scalability, integration capabilities, and customer support. They also engage in strategic partnerships, mergers and acquisitions, and investments in research and development to strengthen their market position and expand their customer base. As the demand for comprehensive risk management and compliance solutions continues to rise, the competitive landscape in the eGRC market is expected to remain dynamic and competitive. 'IBM Corporation (US)', 'Microsoft Corporation (US)', 'SAP SE (Germany)', 'Oracle Corporation (US)', 'Dell Technologies Inc. (US)', 'RSA Security LLC (US)', 'MetricStream Inc. (US)', 'ServiceNow, Inc. (US)', 'Thomson Reuters Corporation (Canada)', 'Nasdaq, Inc. (US)', 'Fidelity National Information Services, Inc. (US)', 'Wolters Kluwer N.V. (Netherlands)', 'SAI Pty Limited (Australia)', 'EMC Corporation (US)', 'NAVEX Global, Inc. (US)', 'LogicManager, Inc. (US)', 'Resolver Inc. (Canada)', 'ACL Services Ltd. (Canada)', 'Ideagen PLC (UK)', 'Galvanize Inc. (Canada)'

Organizations across industries face growing regulatory pressures and compliance requirements. This drives the adoption of eGRC solutions to effectively manage and monitor compliance with regulations and industry standards. For example, in the financial sector, organizations must adhere to regulations like Basel III, Dodd-Frank Act, and Anti-Money Laundering (AML) regulations, which require robust risk management and compliance frameworks.

Adoption of Artificial Intelligence (AI) and Machine Learning (ML): The integration of AI and ML technologies into eGRC solutions enables advanced analytics, predictive modeling, and automation. For example, AI-powered analytics can help identify patterns and anomalies in data to detect potential risks or compliance breaches.

The dominating region in the eGRC market is North America. With its robust technological infrastructure and a strong emphasis on regulatory compliance, North America holds a substantial market share. The region's well-established governance frameworks and stringent regulatory environment drive the demand for effective eGRC solutions. Furthermore, the presence of major market players and early adopters of advanced technologies contribute to North America's dominance in the eGRC market.

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Global eGRC Market

Product ID: SQMIG45E2228