Governance Risk and Compliance Platform Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44684
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The governance risk and compliance (GRC) platform market has the potential to grow by USD 26.34 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 13.36%.

This governance risk and compliance platform market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premise and cloud-based) and geography (North America, Europe, APAC, South America, and MEA). The governance risk and compliance platform market report also offers information on several market vendors, including International Business Machines Corp., Microsoft Corp., Mitratech Holdings Inc., NAVEX Global Inc., Oracle Corp., SAI Global Pty. Ltd., SAP SE, SAS Institute Inc., Thomson Reuters Corp., and Wolters Kluwer NV among others.

What will the Governance Risk and Compliance Platform Market Size be in 2021?

Governance-Risk-And-Compliance-Platform-Market-Market-Size-2020-2025

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Governance Risk and Compliance Platform Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The quick and easy deployment of GRC policies is notably driving the governance risk and compliance platform market growth, although factors such as increasing data security concerns may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the governance risk and compliance platform industry. 

  • The quick and easy deployment of GRC policies is one of the primary growth factors for this market.
  • New business requirements, increasing costs, and regulatory demands result in constant policy changes, which demand the need to deploy policies quickly to enable organizations across the world to make better business decisions.
  • The cloud-based GRC solutions centralize all GRC policies across various information sources including databases and data warehouses, email systems, and enterprise content management systems, which, in turn, creates a single policy engine.
  • This will allow enterprises to update existing policies or enforce new ones without disrupting regular business operations.
  • With the increased use of social media among customers, employees, and partners to communicate with organizations, enterprises will soon start incorporating social media content in their policy definition and enforcement.
  • A number of vendors already offer automated solutions for social media data collection and help in selecting, executing, and monitoring social media tools.
  • With organizations trying to digitize their businesses to remain competitive in the market, the emergence of social media governance will be one of the major trends that will gain traction in the governance risk management and compliance platform market.

This governance risk and compliance platform market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Governance Risk and Compliance Platform Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • International Business Machines Corp.
  • Microsoft Corp.
  • Mitratech Holdings Inc.
  • NAVEX Global Inc.
  • Oracle Corp.
  • SAI Global Pty. Ltd.
  • SAP SE
  • SAS Institute Inc.
  • Thomson Reuters Corp.
  • Wolters Kluwer NV

 

The GRC platform market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the governance risk and compliance platform market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Governance Risk and Compliance Platform Market?

Governance-Risk-And-Compliance-Platform-Market-Market-Share-by-Region-2020-2025

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42% of the market’s growth will originate from North America during the forecast period. The US is a key market for governance risk and compliance platforms in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The increasing adoption of risk management solutions like risk analytics to handle risks related to credit cards and fraud detection will facilitate the governance risk and compliance platform market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Deployment Segments in the Governance Risk and Compliance Platform Market?

Governance-Risk-And-Compliance-Platform-Market-Market-Share-by-Deployment-2020-2025

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The governance risk and compliance platform market share growth by the on-premise segment will be significant during the forecast period. On-premise GRC is essential to ensure that the organizations deliver products and services in line with the set standards. It also automates the reporting and documentation processes associated with risk management. Large-sized businesses are the largest adopters of this deployment model as it is expensive and not the first choice among SMEs. The software uses open-source technologies and supports most international standards, including generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS). 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the GRC platform market size.

 

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What are the Key Factors Covered in this Governance Risk and Compliance Platform Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive GRC platform market growth during the next five years
  • Precise estimation of the governance risk and compliance platform market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the GRC platform industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of governance risk and compliance platform market vendors

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Governance Risk And Compliance Platform Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 13.36%

Market growth 2021-2025

$ 26.34 billion

Market structure

Concentrated

YoY growth (%)

11.92

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 42%

Key consumer countries

US, UK, China, Germany, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

International Business Machines Corp., Microsoft Corp., Mitratech Holdings Inc., NAVEX Global Inc., Oracle Corp., SAI Global Pty. Ltd., SAP SE, SAS Institute Inc., Thomson Reuters Corp., and Wolters Kluwer NV

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces analysis 2020 & 2025
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Deployment

    • Market segments
    • Comparison by Deployment
    • On-premise - Market size and forecast 2020-2025
    • Cloud-based - Market size and forecast 2020-2025
    • Market opportunity by Deployment

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • International Business Machines Corp.
    • Microsoft Corp.
    • Mitratech Holdings Inc.
    • NAVEX Global Inc.
    • Oracle Corp.
    • SAI Global Pty. Ltd.
    • SAP SE
    • SAS Institute Inc.
    • Thomson Reuters Corp.
    • Wolters Kluwer NV

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The governance risk and compliance platform market growth will increase by $28749.44 million during 2019-2024.
    The governance risk and compliance platform market is expected to grow at a CAGR of 15.12% during 2019-2024.
    Technavio has segmented the governance risk and compliance platform market by deployment (On-premise and Cloud-based) and geographic (North America, Europe, APAC, South America, and MEA).
    Mitratech Holdings Inc., Dell Technologies Inc., International Business Machines Corp., Microsoft Corp., NAVEX Global Inc., Newport Consulting Group LLC, Oracle Corp., SAI Global Pty. Ltd., SAP SE, SAS Institute Inc., Thomson Reuters Corp. are a few of the key vendors in the governance risk and compliance platform market.
    North America will register the highest growth rate of 41.46% among the other regions. Therefore, the governance risk and compliance platform market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the governance risk and compliance platform market growth are:
    • Increased need to comply with regulatory requirements
    • Integration of GRC platform with third platform technologies
    The governance risk and compliance platform market vendors should focus on grabbing business opportunities from the on-premise segment as it accounted for the largest market share in the base year.
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