(PRWEB) June 11, 2014
The report "Enterprise Governance, Risk and Compliance Market [by Solutions (Compliance Management, Audit Management, Risk Management, Policy Management, Incident Management, Financial Controls Management)] - Market Forecasts and Analysis 2013 - 2018", defines and segments the global eGRC market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the technology roadmap and adoption trends.
Browse 89 market data tables and 36 figures spread through 217 pages and in-depth TOC on “Enterprise Governance, Risk and Compliance Market"
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MarketsandMarkets forecasts the global enterprise governance, risk and compliance market to grow $9.93 billion in 2018. In terms of regions, North America is expected to be the biggest market in terms of market size, while Europe and Asia-Pacific (APAC) are expected to experience increased market traction, during the forecast period.
MarketsandMarkets broadly segments the global enterprise governance, risk and compliance market by regions: North America (NA), Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America (LA); by solutions: compliance management, audit management, risk management, policy management, incident management, financial controls management and others; by services: consulting, integration, and support; by users: Small and Medium Businesses (SMBs) and enterprises; by industry verticals: Banking, Financial Services, and Insurance (BFSI), government, healthcare, biotech and pharmaceuticals, construction and engineering, telecom and Information Technology (IT), mining and natural resources, energy and utility, transportation and logistics, manufacturing, retail and consumer goods, education and academia, and others.
The challenge to counter the increasing number of data breaches and compliance violations in organizations is enormous. The vendors in the enterprise GRC market are constantly innovating and remodeling their existing architecture to develop better and more secure systems. Major vendors in the enterprise governance, risk and compliance market are Microsoft, IBM, EMC, Oracle, SAP, SAS, BWise, Mega, MetricStream, Modulo, Resolver, Rsam, FIS, and Thomson Reuters among others. The major forces driving this market are growing business risk and rising number of data breaches and compliance violations.
Risk Management is a vital part of the core GRC functions and the progression from qualitative risk management to quantitative analysis is a challenge that most of the organizations face. Companies will need to shift risk processes towards more quantitative methods. It is expected that companies will take up more numerical models in order to improve their ability to address risk management issues more effectively.
The data generated from the GRC initiatives adopted by companies is valuable intrinsically and provide insight to the future. Companies often face complexity in constructing a proper repository to mine and analyze this data. However, enterprises are expected to start utilizing GRC data to facilitate performance improvement activities. It is expected that companies will enable the processes for the data mining, analytical and modeling capabilities required to facilitate process re-engineering, process improvement, and performance gains.
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