Europe Governance, Risk and Compliance Platform Market

Market Overview:

The Europe governance, risk and compliance platform market size reached US$ 12,712 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 21,011 Million by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

Governance, risk and compliance (GRC) cover areas of corporate governance, enterprise risk management, and corporate compliance. The GRC platform improves decision-making and reduces fragmentation among various divisions and departments. It also uses a single framework for monitoring and enforcing rules that facilitates managing risk, minimizes the complexity for managers, and eliminates the cost of multiple installations.

Europe represents the second largest GRC market across the world. The market is primarily driven by the implementation of strict legislation, like the European Union Data Protection Act (1995). Besides this, the latest version of the law adopted in 2016, outlines guidelines for companies operating in the region to implement data security measures and ensure transparency and accountability. Additionally, the changing regulatory and market environment has enabled enterprises in the UK, Germany, and France to shift toward the implementation of GRC solutions. Most of the enterprises in these countries follow the safety standards of Network Information Service and General Data Protection Regulation for information and data security. Moreover, the outbreak of the coronavirus disease (COVID-19) has affected the working patterns of businesses, encouraging them to opt for remote working policies. This has propelled the utilization of GRC solutions by corporate organizations as they help provide a detailed understanding of the prevailing market scenario that can help the end user to take calculated risks and achieve a strong market position.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Europe governance, risk and compliance platform market, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on deployment model, solutions, component, service, end user and vertical.

Breakup by Deployment Model:

• On-Premises
• Cloud
   

Breakup by Solution:

• Audit Management 
• Risk Management 
• Policy Management 
• Compliance Management
• Others 
   

Breakup by Component:

• Software
• Services
   

Breakup by Service:

• Integration 
• Consulting 
• Support 
   

Breakup by End User:

• Small Enterprise
• Medium Enterprise
• Large Enterprise
   

Breakup by Vertical:

• BFSI
• Construction and Engineering 
• Energy and Utilities
• Government
• Healthcare 
• Manufacturing
• Retail and Consumer Goods
• Telecom and IT
• Transportation and Logistics 
• Others 
   

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe governance, risk and compliance platform market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe governance, risk and compliance platform market?
• What are the key regional markets?
• What is the breakup of the market based on the deployment model?
• What is the breakup of the market based on the solution?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the service?
• What is the breakup of the market based on the end user?
• What is the breakup of the market based on the vertical?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Europe governance, risk and compliance platform market and who are the key players?
• What is the degree of competition in the industry?