eGRC Market Size, Share, Growth, Trends, and Global Industry Analysis: By Component Type (Software, and Services), By Software (Audit Management, Risk Management, Compliance Management, Incident Management, Policy Management, and  Others), By Service (Integration, Consulting, and Support), By Type (Small and Medium Enterprise (SME), and Large Enterprise), By Application (BFSI, Government, Construction & Engineering, Manufacturing, Energy & Utilities, Transportation & Logistics, Healthcare, Retail & Consumer Goods, Telecom & IT, and Others), and Region Forecast 2020-2031

eGRC Market size was valued at US$ 33.682.2 million in 2023 and is poised to grow at a significant CAGR of 14.1% from 2024 - 2030. Enterprise Governance and risk compliances regulate and control an organization, and establishments by monitoring risk management, controlling risk, and identifying risk hazards that might happen in the business environment. The significant growth of the digital era is playing a crucial role in the market growth, and the rapid increase of electronic communication infrastructures such as via smartphones, tablets, and cameras has considerably increased the exchange of private data internally and externally for several business purposes. The rising growth in data worldwide has given chance to improve analytical and digital tools, as well as EGRC software.

Moreover, these factors boost the market demand of the market globally in the current time as well as in the upcoming years. The use of mobile devices, BYOD, and other connected devices to access various applications increases susceptibility to cyberattacks. Thus, eGRC solution vendors and providers are expanding their regional presence. During the COVID-19 pandemic, the world widens lockdown has increased the market width of digital technologies. Several users have moved towards remote work, consumers shifted to an online platform for purchase, and businesses have ongoing use of online platforms to sell products and services. After the pandemic, the adoption of digital technologies increased further. This increased digitalization in developing countries has contributed to the adoption of eGRC services and paved a path to expand the market globally over the forecasted period. Various industries across the globe started opting for eGRC solutions to meet requirements related to internal audit, compliance, third-party risk management, and anti-money laundering is further propelling the market growth.