According to a market report, published by Sheer Analytics and Insights, The India eGRC market was valued at $2.3 billion in 2021 and it is expected to reach $9.3 billion at a CAGR of 13.2% between 2022 and 2032. In India, various key players are offering a variety of governance, risk, and compliance services to help multiple clients in solving the increasingly complex regulatory, compliance, and risk management environment. Additionally, organizations are depending on better governance and risk management, which would benefit them to demonstrate compliance with regulatory controls. Compliance Management is essential to document control frameworks that assess the design and operational effectiveness. Additionally, this would respond to policy and regulatory compliance issues. Therefore, eGRC solutions help its clients by decreasing compliance silos and audit tests and consistently documenting and implementing control frameworks, procedures, and test plans. Hence, in India, eGRC plays an important role for all the industry end-users by providing solutions to their customers and clients for data breaches in multiple industries which have paved the way for escalating information security. Moreover, the evolvement of industries and complex transactions has helped the eGRC market to have significant growth in the last few years in India.
However, privacy and security associated with data and information are adopting cloud solutions and services, and this would propel the growth of the market in the upcoming years. The country is getting guidelines from the government. These guidelines and policies are expected to be implemented and controlled by considering various factors such as micro and macro-economy risk factors coupled with the corporate requirements. However, the less awareness of the service and solutions in some of the developing cities in India can be considered one of the restraining factors for the eGRC market growth. These rising factors are making it challenging for providers to offer such solutions and services to multiple verticals in fulfilling the requirements across this country. Hence, this is expected to drive market growth during the forecast period from 2022 to 2032.
To know more about this study, request a free sample report @ https://www.sheeranalyticsandinsights.com/request-sample/india-egrc-market-21
Moreover, the Indian organizations are forwarding toward technology-driven best practices for their GRC solution and services. Hence, they are focusing on complying with the internal and external compliance mandates. This would further automate the complex GRC Management processes, by avoiding the large number of penalties which is incurred from non-compliance and the risk of exposure to multiple imminent risks with both internal and external entities. Therefore, these trends are projected to drive market growth during the forecast period from 2022 to 2032. Furthermore, the adoption of new modern technologies such as artificial intelligence, machine learning, data analytics, and IoT are increasing across various enterprises and organizations, which would benefit all companies and organizations.
According to the study, key players such as Alyne GmbH (Germany), Dell EMC (U.S), Dell Technologies Inc (U.S), FIS Corporation (U.S), IBM (U.S), Intertek (U.K), Ideagen (U.K), LexComply (India), Logicmanager Inc (U.S), Microsoft Corporation (U.S), Mphasis (India), MetricStream (U.S), MEGA International (France), Navex Global Inc (U.S), Oracle Corporation (U.S), Quantivate (U.S), Riskonnect Inc (U.S), Robert Half (U.S), StandardFusion (Canada), ServiceNow (U.S), Symphony Technology Group (U.S), SAS Institute (U.S), SAP SE (Germany), The Woodbridge Company (Canada), Wise Company (U.K), Wolters Kluwer (Netherlands), among others are leading the India eGRC market.
India eGRC Market Has Been Segmented Into:
India eGRC Market –by Component Type:
India eGRC Market – by Organization Type:
India eGRC Market – by Deployment Mode:
India eGRC Market – by End-User Type:
India eGRC Market – by Regions:
Browse The Full Report at https://www.sheeranalyticsandinsights.com/market-report-research/india-egrc-market-21
Sheer Analytics and Insights