Global eGRC Market Strategy Report 2023: Market to Reach $72.4 Billion by 2030 from $35 Billion in 2022 - Cloud-based eGRC Takes Center Stage
Global Market for eGRC
Dublin, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The "eGRC - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global eGRC Market to Reach $72.4 Billion by 2030
The global market for eGRC estimated at US$35 Billion in the year 2022, is projected to reach a revised size of US$72.4 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030.
Software, one of the segments analyzed in the report, is projected to record 8.6% CAGR and reach US$44.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 11% CAGR for the next 8-year period.
The U.S. Market is Estimated at $10.2 Billion, While China is Forecast to Grow at 8.9% CAGR
The eGRC market in the U.S. is estimated at US$10.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$12.5 Billion by the year 2030 trailing a CAGR of 8.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.1% and 8.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.
Looking Ahead to 2023
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Topics Covered:
Influencer Market Insights
World Market Trajectories
eGRC: An Introductory Prelude
eGRC Deployments Set for Robust Growth Amid Rising Emphasis on Governance, Risk & Compliance Management
Critical Importance of Enterprise Risk Management Creates Conducive Environment
Necessity of Effective Compliance Management: A Key Driver
Stress on Corporate Governance Builds Momentum
STable Upward Momentum in Enterprise IT Spending Bodes Well
IRM: The Next Evolutionary Phase of GRC
eGRC - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
FOCUS ON SELECT PLAYERS (Total 41 Featured)
SAS Institute, Inc.
Wolters Kluwer Financial Services, Inc.
MARKET TRENDS & DRIVERS
Cloud-based eGRC Takes Center Stage
Demand for On-Premise Software Remains Northbound
eGRC Makes Robust Inroads into BFSI Sector
eGRC Emerges as Business Imperative for Healthcare Enterprises
Government Agencies Rely on eGRC to Strengthen Transparency and Accountability
EGRC Deployments Gain Traction in the Retail Industry
Mining Firms Emphasize eGRC to Streamline and Automate GRC Processes
eGRC Makes Strong Gains in the Telecom Sector
Growing Deployments in Airlines, Automotive, Manufacturing and Utilities Sectors
Energy & Utilities
Widening Use Case in Information Export Control Applications
Effective Integration with Enterprise Load: Vital for Generating Meaningful & Actionable Insights
eGRC: Introduction, Focus Areas and Importance
For more information about this report visit https://www.researchandmarkets.com/r/mdcehv-global?w=12
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