Enterprise Governance, Risk and Compliance (EGRC) Market

Global Enterprise Governance, Risk and Compliance (EGRC) Market Size, Share & Trends Analysis Report By Component, By Organization Size, By Application, By Vertical, By Regional Outlook and Forecast, 2025 - 2032

Report Id: KBV-27874 Publication Date: May-2025 Number of Pages: 468
2024
USD 55.00 Billion
2032
USD 142.83 Billion
CAGR
12.9%
Historical Data
2021 to 2023

“Global Enterprise Governance, Risk and Compliance (EGRC) Market to reach a market value of USD 142.83 Billion by 2032 growing at a CAGR of 12.9%”

Analysis of Market Size & Trends

The Global Enterprise Governance, Risk and Compliance (EGRC) Market size is expected to reach $142.83 billion by 2032, rising at a market growth of 12.9% CAGR during the forecast period.

The North America segment garnered 36% revenue share in the market in 2023. The utilization of robust risk management, compliance automation, and audit monitoring solutions has been compelled by the presence of significant financial institutions, healthcare providers, and technology firms. Regulations such as SOX, HIPAA, CCPA, and FISMA have prioritized compliance for businesses in BFSI, healthcare, telecom, and government sectors.

Enterprise Governance, Risk and Compliance (EGRC) Market Size - Global Opportunities and Trends Analysis Report 2021-2032

The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In January, 2025, IBM Corporation and e& partnered to deploy an AI governance platform using IBM watsonx. governance, enhancing compliance, transparency, and risk management. Announced at WEF 2025, the collaboration ensures ethical AI oversight, mitigating biases and regulatory risks while scaling AI responsibly across e&'s ecosystem. Moreover, In June, 2024, IBM Corporation and Telefónica Tech partnered to deploy SHARK.X, an AI, analytics, and data management platform. The collaboration enhances data governance, regulatory compliance, and digital transformation, supporting enterprises with AI adoption, risk management, and business intelligence in a hybrid, multi-cloud environment.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation are the forerunners in the Enterprise Governance, Risk and Compliance (EGRC) Market. In June, 2023, Microsoft Corporation came into partnership with Moody’s Corporation to enhance risk analysis, data, and collaboration solutions using Generative AI, Microsoft Azure OpenAI, and Teams. The partnership integrates Moody’s proprietary data with Microsoft’s AI capabilities, boosting financial services, risk assessment, and productivity across industries. Companies such as IBM Corporation and Oracle Corporation are some of the key innovators in Enterprise Governance, Risk and Compliance (EGRC) Market.

Enterprise Governance, Risk and Compliance (EGRC) Market - Competitive Landscape and Trends by Forecast 2032

Market Growth Factors

Regulatory compliance has become a critical priority for businesses across various industries as governments and regulatory bodies worldwide continue to implement stringent policies. The growing emphasis on data protection, financial transparency, and corporate governance pushes enterprises to adopt robust GRC solutions to streamline regulatory processes. Industries that manage confidential consumer data, including finance and healthcare, are subject to particularly rigorous data protection regulations. Hence, these factors are propelling the growth of the market.

Additionally, The integration of AI and automation in GRC solutions is revolutionizing compliance management by enhancing efficiency, accuracy, and risk mitigation. Traditional compliance processes, which relied heavily on manual audits and regulatory tracking, are now replaced with AI-powered risk analytics, predictive modeling, and machine learning. These technologies enable organizations to automate compliance processes, detect anomalies, and forecast potential risks, reducing human error and improving decision-making. Therefore, the demand for AI-driven GRC platforms will grow as regulatory environments evolve.

Market Restraining Factors

However, The adoption of enterprise GRC solutions often comes with substantial initial investments in software, hardware infrastructure, and system integration. Many organizations, especially small and medium-sized enterprises (SMEs), find the cost of acquiring a robust GRC framework a major barrier. Enterprise-level GRC platforms require a comprehensive setup, which includes licensing fees, cloud storage or on-premise server costs, and additional expenses for customizing the software to fit specific business needs. Hence, these factors may impede the expansion of the market.

Enterprise Governance, Risk and Compliance (EGRC) Market Share 2024

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Free Valuable Insights: Global Enterprise Governance, Risk and Compliance (EGRC) Market size to reach USD 142.83 Billion by 2032

Driving and Restraining Factors
Enterprise Governance, Risk and Compliance (EGRC) Market
  • Increasing Regulatory Compliance Requirements
  • Integration of AI and Automation in GRC Solutions
  • Increasing Frequency and Sophistication of Cybersecurity Threats
  • High Implementation and Maintenance Costs
  • Complexity in Integration with Existing Systems
  • Digital Transformation and Cloud Adoption
  • Growing Adoption of Blockchain for Compliance Management
  • Data Security and Privacy Concerns
  • Lack of Awareness and Skilled Workforce

Component Outlook

Based on component, the market is bifurcated into software and services. The services segment procured 37% revenue share in the market in 2023. Many organizations, especially SMEs and firms with limited in-house compliance expertise, rely on GRC service providers to deploy, configure, and maintain compliance frameworks. Additionally, the increasing complexity of cybersecurity regulations, third-party risk management, and cross-border compliance has led businesses to seek specialized advisory and risk assessment services.

Organization Size Outlook

On the basis of organization size, the market is bifurcated into small & medium-sized enterprises (SMEs) and large enterprises. The small & medium-sized enterprises (SMEs) segment garnered 34% revenue share in the market in 2023. While SMEs often face budget constraints and limited in-house expertise, the growing availability of cost-effective, cloud-based GRC solutions has encouraged wider adoption. The increasing incidence of cybersecurity threats, financial fraud, and industry regulations has made it essential for SMEs to invest in simplified compliance tools and managed GRC services.

Enterprise Governance, Risk and Compliance (EGRC) Market Share and Industry Analysis Report 2024

Application Outlook

Based on application, the market is segmented into director board, EHS, ESG, legal services, and others. The EHS segment recorded 23% revenue share in the market in 2023. Environmental, Health, and Safety (EHS) segment is driven by increasing workplace safety regulations, industrial risk management needs, and environmental compliance requirements. Industries such as manufacturing, energy, healthcare, and chemicals rely on EHS solutions to mitigate occupational hazards, ensure regulatory compliance, and enhance workforce safety.

Vertical Outlook

By vertical, the market is segmented into BFSI, construction & engineering, energy & utilities, government, healthcare, manufacturing, retail & consumer goods, telecom & IT, transportation & logistics, and others. The healthcare segment acquired 17% revenue share in the market in 2023. The healthcare segment is driven by stringent regulatory mandates, growing cybersecurity concerns, and the adoption of digital health technologies. Healthcare organizations must establish robust governance and risk management frameworks to protect patient data and avoid legal repercussions in order to comply with regulations such as HIPAA, GDPR, and FDA standards.

Market Competition and Attributes

Enterprise Governance, Risk and Compliance (EGRC) Market Competition and Attributes

The Enterprise Governance, Risk, and Compliance (EGRC) market sees intensified competition among mid-sized and niche providers. These firms focus on specialized, agile solutions tailored to industry-specific needs. Innovation, integration capabilities, and cloud-based offerings become key differentiators. The absence of dominant players creates opportunities for emerging vendors to expand their footprint and address evolving regulatory challenges efficiently.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 27% revenue share in the market in 2023. Countries like China, India, Japan, and Australia are adopting AI-driven risk assessment and cloud-based compliance solutions to address emerging data protection laws, cybersecurity threats, and ESG (Environmental, Social, and Governance) requirements. The growth of fintech, digital payment platforms, and cross-border trade regulations has increased the demand for automated GRC tools.

Enterprise Governance, Risk and Compliance (EGRC) Market Report Coverage
Report Attribute Details
Market size value in 2024 USD 55.00 Billion
Market size forecast in 2032 USD 142.83 Billion
Base Year 2024
Historical Period 2021 to 2023
Forecast Period 2025 to 2032
Revenue Growth Rate CAGR of 12.9% from 2025 to 2032
Number of Pages 468
Number of Tables 693
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Component, Organization Size, Application, Vertical, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (Japan, China, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included

IBM Corporation, Genpact Limited, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Wolters Kluwer N.V., ServiceNow, Inc., MetricStream, Inc., and RSA Security LLC (Symphony Technology Group)

Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

Recent Strategies Deployed in the Market

  • Jan-2025: Genpact Limited launched the AI Gigafactory to accelerate enterprise AI adoption, combining industry expertise, scalable AI solutions, and a responsible AI framework. The initiative aims to train 25,000 AI professionals, enhancing governance, risk management, and compliance while driving AI-led transformation.
  • Jan-2025: IBM acquired Applications Software Technology LLC to enhance its Oracle Cloud consulting expertise, particularly for public sector clients. The acquisition strengthens IBM’s capabilities in ERP, EPM, and cloud solutions, supporting secure digital transformations across North America, the UK, and Ireland.
  • Aug-2024: Oracle Corporation has introduced its Financial Services Risk and Finance solution, designed to help life insurers improve regulatory compliance, risk management, and IFRS 17 reporting. The solution integrates finance and actuarial data, enhancing efficiency, transparency, and operational performance in insurance risk and finance management.
  • Feb-2024: SAS Institute Inc. partnered with Carahsoft to expand AI, analytics, and data management solutions for U.S. government agencies. The agreement enhances public sector access to SAS Viya, supporting fraud detection, risk management, and compliance, improving data-driven decision-making and operational efficiency.
  • Sep-2023: Oracle Corporation came into partnership with Microsoft to launch Oracle Database@Azure, integrating Oracle Cloud Infrastructure (OCI) database services within Microsoft Azure. This collaboration enhances multicloud deployment, security, and compliance, simplifying cloud migration while improving performance, scalability, and AI-driven innovation for enterprises.

List of Key Companies Profiled

  • IBM Corporation
  • Genpact Limited
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Wolters Kluwer N.V.
  • ServiceNow, Inc.
  • MetricStream, Inc.
  • RSA Security LLC (Symphony Technology Group)

Enterprise Governance, Risk and Compliance (EGRC) Market Report Segmentation

By Component

  • Software
    • Risk Management
    • Audit Management
    • Incident Management
    • Policy Management
    • Compliance Management
    • Other Software Type
  • Services
    • Integration
    • Consulting
    • Support

By Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises (SMEs)

By Application

  • ESG
  • EHS
  • Legal Services
  • Director Board
  • Other Application

By Vertical

  • BFSI
  • Healthcare
  • Government
  • Telecom & IT
  • Energy & Utilities
  • Manufacturing
  • Other Vertical

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 832-2886

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo