Tuesday, 27 March 2018

Global Enterprise Governance Risk and Compliance Market Analysis, Trends and Forecast 2016 - 2024

Researchmoz added Most up-to-date research on "Enterprise Governance Risk and Compliance Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024" to its huge collection of research reports.

Enterprise governance, risk and compliance (eGRC) is a strategic discipline which arms organizations to identify and protect against relevant risks and improve their operations. eGRC helps businesses in reducing costs, rationalizing controls and identify operational inefficiencies. In other terms, eGRC integrates data, policies and controls and develops the results in strategically visible manner.

The eGRC market is segmented on the basis of business type, deployment model, enterprise size, services and end-use industry. On the basis of business type, eGRC market is categorized as IT, finance, operations and legal. Based on deployment model, eGRC market is classified into on-premise and hosted. In terms of enterprise size, eGRC market is segmented into small and medium enterprises and large organizations. In terms of services, eGRC market is further sub-divided into installation and training, consulting and support. On the basis of end-use industry, eGRC market is segmented  into telecom and IT, manufacturing, health care, banking, financial services and insurance (BFSI), energy and utility, retail and hospitality, government, mining and others (education, construction, etc.). Moreover, eGRC market is further segmented into various geographies such as North America, Europe, Asia Pacific, Middle East and Africa and South America.

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With organizations aiming to reduce costs and strengthen their decision-making capabilities to improve business performance, this factor has evolved as one of the strongest growth driver for eGRC market. Already stressed existing enterprise resource planning (ERP) systems and inadequate monitoring capacities of existing systems has supplemented the adoption of eGRC systems. Moreover, growing regulatory requirements and demand for corporate governance has fuelled the adoption of eGRC solutions among enterprises. However, lack of awareness of eGRC particularly in small and medium businesses is anticipated to erode its market growth; this factor is expected to have high impact in earlier part of the forecast period. Alongside this, continuous changes in companies and increasing federal laws is likely to curb the market growth of eGRC market. Also, improving IT ecosystem especially in Asia Pacific region is likely to result in significant growth eGRC market in near term.

On a global scale, eGRC market is currently dominated by North America region. Early adoption of eGRC systems and significant presence of multinational manufacturers is among the key factors driving the market in North America region. However, Asia Pacific is likely to exhibit superior growth rate during the forecast period from 2016 to 2024. In terms of deployment model, on-premise eGRC tools are expected to hold significant market share, although, hosted eGRC solutions are likely to gain significant traction in the later part of the forecast period. BFSI and government sectors are likely to be among the frontrunners of eGRC market. The significant demand for risk management, audit management, and policy & compliance management tools is likely to be the prime factors resulting in the adoption of eGRC solutions in aforementioned applications.

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Some of the major vendors in development and manufacturing of eGRC market are EMC Corporation, SAS Institute, Inc., Oracle Corporation, Microsoft Corporation, IBM Corporation, SAP SE, Deloitte LLP, Maclear SA, BWise BV, Software AG, Fidelity National Information Services, Inc. (FIS), Thomson Reuters Corporation, Protiviti Inc and Modulo Security, LLC.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.

The study is a source of reliable data on:

- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
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- Competitive insights
- Opportunity mapping in terms of technological breakthroughs

The regional analysis covers:

- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)

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TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

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