Governance Risk and Compliance (GRC) can be defined as a collective term which accounts for an organization’s approach towards Governance, risk management, and compliance. GRC is a platform that aims to coordinate information and processes through governance, risk management and compliance so as to function in a more efficient manner, coupled with effective data sharing which helps avoid wasteful overlaps.
The major factors driving the growth of Governance Risk and Compliance (GRC) Services market across all regions is increasing need among organizations to enhance their operational activities by ensuring optimal resource usage and to streamline business processes and the increasing need for solving operations related issues quickly.
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The Governance Risk and Compliance (GRC) Services market can be classified on the basis of solutions, deployment type, end user, industry vertical and geography.
On the basis of solutions, the Governance Risk and Compliance (GRC) Services market is divided into audit management, risk management, policy management, compliance management and others. On the basis of deployment type the Governance Risk and Compliance (GRC) Services market is bifurcated into on premise and cloud based.
On the basis of end-user, the overall market has been divided into small enterprise, medium enterprise and large enterprise. On the basis of industry verticals the Governance Risk and Compliance (GRC) Services market has been classified into Banking, Financial Services, and Insurance, Construction and Engineering, Energy and Utility, Government, Healthcare, Manufacturing, Mining and Natural Resources, Retail and Consumer Goods, Telecom and IT, Transportation and Logistics and Others.
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On regional basis, the Governance Risk and Compliance (GRC) Services market has been divided into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America accounted for the largest share of the overall market, followed by Europe in 2016.
The key players profiled in the Governance Risk and Compliance (GRC) Services includes SAS Institute Inc., IBM Corp, SAP SE, EMC Corporation, Microsoft Corporation, Fidelity National Information Services, Inc. (FIS), Oracle Corporation, Thomson Reuters Corporation, Newport Consulting Group, Llc and BWise BV etc.
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