Wheelhouse Advisors, a leading global risk management strategy and technology advisory firm, is pleased to announce the publication of its latest report, the 2024 IRM Navigator™ Quarterly Insight Report – GRC Edition. This report provides an in-depth analysis of the Governance, Risk, and Compliance (GRC) market segment, offering essential insights into the evolving landscape of the total integrated risk management (IRM) market.
ATLANTA, Aug. 27, 2024 /PRNewswire-PRWeb/ -- Wheelhouse Advisors, a leading global risk management strategy and technology advisory firm, is pleased to announce the publication of the 2024 IRM Navigator™ Quarterly Insight Report – GRC Edition. This report is the latest installment in the IRM Navigator™ series, which began in May 2024 with the release of the 2024 IRM Navigator™ Annual Viewpoint Report. The Annual Viewpoint Report provides a comprehensive overview of the total Integrated Risk Management (IRM) market and introduces the IRM40, a list of the top 40 vendors in the industry.
The Governance, Risk, and Compliance (GRC) segment, featured in the GRC Edition, is one of four essential components of the IRM market. The other three segments—Enterprise Risk Management (ERM), Operational Risk Management (ORM), and Technology Risk Management (TRM)—will be explored in separate reports to be published over the next three quarters. These upcoming reports are available for pre-order at Wheelhouse Advisors IRM Navigator™ Reports.
The GRC Edition reveals updated IRM market sizing figures, showcasing substantial growth in the IRM technology market. The IRM market is projected to expand from $56.1 billion in 2024 to $133.2 billion by 2031, reflecting a compound annual growth rate (CAGR) of 11.4%. Specifically, the GRC segment is expected to grow from $16.5 billion in 2024 to $32.5 billion by 2031, with a CAGR of 8.8%. This growth reflects the increasing importance of GRC solutions as organizations face more complex regulatory environments and interconnected risks.
The report evaluates 16 top GRC vendors using the IRM Navigator™ Vendor Compass model, categorizing them into three distinct groups: Integrators, Accelerators, and Pace Setters. These categories are based on the breadth of the vendors' solution coverage and the level of integration with other IRM segments, providing a comprehensive framework for organizations seeking to enhance their risk management capabilities.
John A. Wheeler, founder and CEO of Wheelhouse Advisors, commented, "GRC is a vital component of an integrated risk management strategy, but it cannot stand alone. Our IRM Navigator™ series offers a comprehensive view of risk management, guiding organizations through the complexities of today's risk landscape. This report is the first step in exploring the four IRM market segments."
The 2024 IRM Navigator™ Quarterly Insight Report – GRC Edition is now available for download on the Wheelhouse Advisors website. The ERM, ORM, and TRM reports are available for pre-order and will be published over the coming quarters. To access the full report and pre-order upcoming editions, visit Wheelhouse Advisors IRM Navigator™ Reports.
For more information, please contact:
Wheelhouse Advisors Public Relations
Email: [email protected]
Phone: +1 (404) 807-2220
About Wheelhouse Advisors
Wheelhouse Advisors is a global leader in risk management strategy and technology advisory services. Founded in 2008 and headquartered in Atlanta, Georgia, Wheelhouse Advisors provides senior executives with the insights and techniques to navigate today's complex risk landscape. For more information, visit www.wheelhouseadvisors.com.
Media Contact
Wheelhouse Advisors Public Relations, Wheelhouse Advisors LLC, 1 404-807-2220, [email protected], https://www.wheelhouseadvisors.com/
SOURCE Wheelhouse Advisors LLC
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