The North American enterprise governance, risk and compliance (GRC) market is expected to grow from $2.28 billion in 2014 to $4.60 billion by 2019, at a CAGR of 15.1% for the period 2014 to 2019. The enterprise governance, risk and compliance (GRC) market is primarily driven by the need for custom solutions for information governance frameworks in the region.
Enterprise governance, risk and compliance (GRC) have become critical to business management. Enterprises have started using governance, risk management, and compliance data to facilitate performance enhancement measures. Businesses are expected to achieve the benefits of adopting governance, risk and compliance (GRC) in an organized and designed manner. Risk management is a vital part of the core governance, risk, and compliance functions. It is expected that companies will take up more numerical models in order to improve their ability to address risk management issues more effectively. Enterprise Governance, Risk and Compliance (GRC) are evolving trends, which would bring the expected profitability to corporations and enterprises.
There is an increase in the usage of enterprise governance, risk and compliance solutions in many organizations of the region. The rise in the cyber attacks has created a need for enterprise governance, risk and compliance solutions. Many organizations require custom solutions for information governance framework. There are various complexities associated with these custom solutions. The Enterprise Governance, Risk and Compliance (GRC) minimize the risk and complexity related to the information governance framework for custom solutions.
The above assessment originates from report published by MICROMARKETMONITOR (Report Code: EN 1001). The report provides competitive benchmarking of the leading players in the industry such as IBM, Microsoft, EMC, Hewlett-Packard, and Symantec, among others, in terms of their product offerings, key strategies, and operational parameters. Furthermore, the report provides market trends, overall adoption scenarios, competitive landscapes, key drivers, restraints and opportunities in the enterprise governance, risk & compliance market. The report aims in estimating the current size and the future growth potential of the enterprise governance, risk & compliance market across different verticals and countries.