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Governance, Risk and Compliance Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global governance, risk and compliance platform market was worth US$ 24.9 Billion in 2018. Governance, risk management and compliance, or GRC, is an umbrella term that covers an organization’s approach to the areas of corporate governance, enterprise risk management and corporate compliance to the regulatory requirements. A well-planned GRC strategy has advantages such as better decision making, more accurate IT investments, exclusion of silos, and reduced fragmentation in various divisions and departments. GRC platforms assist companies to follow a systematic and organized approach for strategizing and implementing their GRC policies. They facilitate the use of a single framework for monitoring and enforcing rules, and help companies in managing risk, minimizing complexity for managers and eliminating costs of multiple installations.
Global Governance, Risk and Compliance Platform Market Drivers:
An effective GRC platform helps in identifying the problems even before they occur, centralizes the entire program in one place and integrates risk management across all controls and processes. A strong growth has been witnessed in the GRC platform market across the globe owing to a substantial rise in the number of emerging organizations which follow the prevailing corporate and government regulations. Moreover, as these platforms allow companies to achieve their GRC targets by automating the workflow, various organizations are adopting GRC platforms to enhance operational activities and offer a satisfying experience to employees. Further, firms are now using GRC platforms as a common approach to solve conformity and risk issues rather than solving them individually. Looking forward, the market value is projected to exceed US$ 47.1 Billion by 2024, exhibiting a CAGR of around 11% during 2019-2024.
Market Summary:
- Based on deployment models, the market has been bifurcated into on-premises and cloud. Presently, the on-premises deployment model represents the biggest segment.
- On the basis of solutions, the market has been categorized into audit management, risk management, policy management, compliance management and others.
- Based on components, the market has been divided into software and services.
- On the basis of services, the market has been classified as integration, consulting and support.
- Based on the end-users, the market has been segregated into small enterprise, medium enterprise and large enterprise.
- On the basis of industry verticals, the market has been categorized into BFSI, construction and engineering, energy and utilities, government, healthcare, manufacturing, retail and consumer goods, telecom and IT, transportation and logistics, and others.
- Region-wise, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading region, accounting for the majority of the global market share.
- The competitive landscape of the market has also been examined with some of the key players being SAS Institute Inc., IBM Corp, SAP SE, EMC Corporation, Microsoft Corporation, Fidelity National Information Services Inc., Oracle Corporation, Thomson Reuters Corporation, Newport Consulting Group, LLC and BWise BV.
Key Questions Answered in This Report:
- How has the global governance risk and compliance platform market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global governance risk and compliance platform industry?
- What is the breakup of the global governance risk and compliance platform market on the basis of deployment model?
- What is the breakup of the global governance risk and compliance platform market on the basis of solution?
- What is the breakup of the global governance risk and compliance platform market on the basis of component?
- What is the breakup of the global governance risk and compliance platform market on the basis of service?
- What is the breakup of the global governance risk and compliance platform market on the basis of end-user?
- What is the breakup of the global governance risk and compliance platform market on the basis of industry vertical?
- What are the various stages in the value chain of the global governance risk and compliance platform market?
- What are the key driving factors and challenges in the global governance risk and compliance platform market?
- What is the structure of the global governance risk and compliance platform market and who are the key players?
- What is the degree of competition in the global governance risk and compliance platform market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Governance Risk and Compliance Platform Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Deployment Model
5.4 Market Breakup by Solution
5.5 Market Breakup by Component
5.6 Market Breakup by Service
5.7 Market Breakup by End-User
5.8 Market Breakup by Industry Vertical
5.9 Market Breakup by Region
5.10 Market Forecast
6 Market Breakup by Deployment Model
6.1 On-Premises
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Cloud
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Solution
7.1 Audit Management
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Risk Management
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Policy Management
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Compliance Management
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Component
8.1 Software
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Services
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Service
9.1 Integration
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Consulting
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Support
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by End-User
10.1 Small Enterprise
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Medium Enterprise
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Large Enterprise
10.3.1 Market Trends
10.3.2 Market Forecast
11 Market Breakup by Industry Vertical
11.1 BFSI
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 Construction and Engineering
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Energy and Utilities
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Government
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Healthcare
11.5.1 Market Trends
11.5.2 Market Forecast
11.6 Manufacturing
11.6.1 Market Trends
11.6.2 Market Forecast
11.7 Retail and Consumer Goods
11.7.1 Market Trends
11.7.2 Market Forecast
11.8 Telecom and IT
11.8.1 Market Trends
11.8.2 Market Forecast
11.9 Transportation and Logistics
11.9.1 Market Trends
11.9.2 Market Forecast
11.10 Others
11.10.1 Market Trends
11.10.2 Market Forecast
12 Market Breakup by Region
12.1 North America
12.1.1 Market Trends
12.1.2 Market Forecast
12.2 Europe
12.2.1 Market Trends
12.2.2 Market Forecast
12.3 Asia Pacific
12.3.1 Market Trends
12.3.2 Market Forecast
12.4 Middle East and Africa
12.4.1 Market Trends
12.4.2 Market Forecast
12.5 Latin America
12.5.1 Market Trends
12.5.2 Market Forecast
13 Global Governance Risk and Compliance Platform Industry: SWOT Analysis
13.1 Overview
13.2 Strengths
13.3 Weaknesses
13.4 Opportunities
13.5 Threats
14 Global Governance Risk and Compliance Platform Industry: Value Chain Analysis
15 Global Governance Risk and Compliance Platform Industry: Porters Five Forces Analysis
15.1 Overview
15.2 Bargaining Power of Buyers
15.3 Bargaining Power of Suppliers
15.4 Degree of Competition
15.5 Threat of New Entrants
15.6 Threat of Substitutes
16 Global Governance Risk and Compliance Platform Industry: Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
17.3.1 SAS Institute Inc.
17.3.2 IBM Corp
17.3.3 SAP SE
17.3.4 EMC Corporation
17.3.5 Microsoft Corporation
17.3.6 Fidelity National Information Services Inc.
17.3.7 Oracle Corporation
17.3.8 Thomson Reuters Corporation
17.3.9 Newport Consulting Group, Llc
17.3.10 BWise BV
List of Figures
Figure 1: Global: Governance Risk and Compliance Platform Market: Major Drivers and Challenges
Figure 2: Global: Governance Risk and Compliance Platform Market: Sales Value (in Billion US$), 2011-2018
Figure 3: Global: Governance Risk and Compliance Platform Market: Breakup by Deployment Model (in %), 2018
Figure 4: Global: Governance Risk and Compliance Platform Market: Breakup by Solution (in %), 2018
Figure 5: Global: Governance Risk and Compliance Platform Market: Breakup by Component (in %), 2018
Figure 6: Global: Governance Risk and Compliance Platform Market: Breakup by Service (in %), 2018
Figure 7: Global: Governance Risk and Compliance Platform Market: Breakup by End-User (in %), 2018
Figure 8: Global: Governance Risk and Compliance Platform Market: Breakup by Industry Vertical (in %), 2018
Figure 9: Global: Governance Risk and Compliance Platform Market: Breakup by Region (in %), 2018
Figure 10: Global: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 11: Global: Governance Risk and Compliance Platform Industry: SWOT Analysis
Figure 12: Global: Governance Risk and Compliance Platform Industry: Value Chain Analysis
Figure 13: Global: Governance Risk and Compliance Platform Industry: Porter’s Five Forces Analysis
Figure 14: Global: Governance Risk and Compliance Platform (On-Premises) Market: Sales Value (in Million US$), 2011 & 2018
Figure 15: Global: Governance Risk and Compliance Platform (On-Premises) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 16: Global: Governance Risk and Compliance Platform (Cloud) Market: Sales Value (in Million US$), 2011 & 2018
Figure 17: Global: Governance Risk and Compliance Platform (Cloud) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 18: Global: Governance Risk and Compliance Platform (Audit Management) Market: Sales Value (in Million US$), 2011 & 2018
Figure 19: Global: Governance Risk and Compliance Platform (Audit Management) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 20: Global: Governance Risk and Compliance Platform (Risk Management) Market: Sales Value (in Million US$), 2011 & 2018
Figure 21: Global: Governance Risk and Compliance Platform (Risk Management) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 22: Global: Governance Risk and Compliance Platform (Policy Management) Market: Sales Value (in Million US$), 2011 & 2018
Figure 23: Global: Governance Risk and Compliance Platform (Policy Management) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 24: Global: Governance Risk and Compliance Platform (Compliance Management) Market: Sales Value (in Million US$), 2011 & 2018
Figure 25: Global: Governance Risk and Compliance Platform (Compliance Management) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 26: Global: Governance Risk and Compliance Platform (Others) Market: Sales Value (in Million US$), 2011 & 2018
Figure 27: Global: Governance Risk and Compliance Platform (Others) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 28: Global: Governance Risk and Compliance Platform (Software) Market: Sales Value (in Million US$), 2011 & 2018
Figure 29: Global: Governance Risk and Compliance Platform (Software) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 30: Global: Governance Risk and Compliance Platform (Services) Market: Sales Value (in Million US$), 2011 & 2018
Figure 31: Global: Governance Risk and Compliance Platform (Services) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 32: Global: Governance Risk and Compliance Platform (Integration) Market: Sales Value (in Million US$), 2011 & 2018
Figure 33: Global: Governance Risk and Compliance Platform (Integration) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 34: Global: Governance Risk and Compliance Platform (Consulting) Market: Sales Value (in Million US$), 2011 & 2018
Figure 35: Global: Governance Risk and Compliance Platform (Consulting) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 36: Global: Governance Risk and Compliance Platform (Support) Market: Sales Value (in Million US$), 2011 & 2018
Figure 37: Global: Governance Risk and Compliance Platform (Support) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 38: Global: Governance Risk and Compliance Platform (Small Enterprise) Market: Sales Value (in Million US$), 2011 & 2018
Figure 39: Global: Governance Risk and Compliance Platform (Small Enterprise) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 40: Global: Governance Risk and Compliance Platform (Medium Enterprise) Market: Sales Value (in Million US$), 2011 & 2018
Figure 41: Global: Governance Risk and Compliance Platform (Medium Enterprise) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 42: Global: Governance Risk and Compliance Platform (Large Enterprise) Market: Sales Value (in Million US$), 2011 & 2018
Figure 43: Global: Governance Risk and Compliance Platform (Large Enterprise) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 44: Global: Governance Risk and Compliance Platform (BFSI) Market: Sales Value (in Million US$), 2011 & 2018
Figure 45: Global: Governance Risk and Compliance Platform (BFSI) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 46: Global: Governance Risk and Compliance Platform (Construction and Engineering) Market: Sales Value (in Million US$), 2011 & 2018
Figure 47: Global: Governance Risk and Compliance Platform (Construction and Engineering) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 48: Global: Governance Risk and Compliance Platform (Energy and Utilities) Market: Sales Value (in Million US$), 2011 & 2018
Figure 49: Global: Governance Risk and Compliance Platform (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 50: Global: Governance Risk and Compliance Platform (Government) Market: Sales Value (in Million US$), 2011 & 2018
Figure 51: Global: Governance Risk and Compliance Platform (Government) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 52: Global: Governance Risk and Compliance Platform (Healthcare) Market: Sales Value (in Million US$), 2011 & 2018
Figure 53: Global: Governance Risk and Compliance Platform (Healthcare) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 54: Global: Governance Risk and Compliance Platform (Manufacturing) Market: Sales Value (in Million US$), 2011 & 2018
Figure 55: Global: Governance Risk and Compliance Platform (Manufacturing) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 56: Global: Governance Risk and Compliance Platform (Retail and Consumer Goods) Market: Sales Value (in Million US$), 2011 & 2018
Figure 57: Global: Governance Risk and Compliance Platform (Retail and Consumer Goods) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 58: Global: Governance Risk and Compliance Platform (Telecom and IT) Market: Sales Value (in Million US$), 2011 & 2018
Figure 59: Global: Governance Risk and Compliance Platform (Telecom and IT) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 60: Global: Governance Risk and Compliance Platform (Transportation and Logistics) Market: Sales Value (in Million US$), 2011 & 2018
Figure 61: Global: Governance Risk and Compliance Platform (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 62: Global: Governance Risk and Compliance Platform (Other Industry Verticals) Market: Sales Value (in Million US$), 2011 & 2018
Figure 63: Global: Governance Risk and Compliance Platform (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 64: North America: Governance Risk and Compliance Platform Market: Sales Value (in Million US$), 2011 & 2018
Figure 65: North America: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 66: Europe: Governance Risk and Compliance Platform Market: Sales Value (in Million US$), 2011 & 2018
Figure 67: Europe: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 68: Asia Pacific: Governance Risk and Compliance Platform Market: Sales Value (in Million US$), 2011 & 2018
Figure 69: Asia Pacific: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 70: Middle East and Africa: Governance Risk and Compliance Platform Market: Sales Value (in Million US$), 2011 & 2018
Figure 71: Middle East and Africa: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 72: Latin America: Governance Risk and Compliance Platform Market: Sales Value (in Million US$), 2011 & 2018
Figure 73: Latin America: Governance Risk and Compliance Platform Market Forecast: Sales Value (in Million US$), 2019-2024
List of Tables
Table 1: Global: Governance Risk and Compliance Platform Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Deployment Model (in Million US$), 2019-2024
Table 3: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Solution (in Million US$), 2019-2024
Table 4: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Component (in Million US$), 2019-2024
Table 5: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Service (in Million US$), 2019-2024
Table 6: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by End-User (in Million US$), 2019-2024
Table 7: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Industry Vertical (in Million US$), 2019-2024
Table 8: Global: Governance Risk and Compliance Platform Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 9: Global: Governance Risk and Compliance Platform Market Structure
Table 10: Global: Governance Risk and Compliance Platform Market: Key Players
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