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Governance Risk And Compliance (GRC) Platform Market Analysis, Size, and Forecast 2025-2029: North America (US and Canada), Europe (France, Germany, Italy, and UK), Middle East and Africa (Egypt, KSA, Oman, and UAE), APAC (China, India, and Japan), South America (Argentina and Brazil), and Rest of World (ROW)

Governance Risk And Compliance (GRC) Platform Market Analysis, Size, and Forecast 2025-2029:
North America (US and Canada), Europe (France, Germany, Italy, and UK), Middle East and Africa (Egypt, KSA, Oman, and UAE), APAC (China, India, and Japan), South America (Argentina and Brazil), and Rest of World (ROW)

Published: Jan 2025 205 Pages SKU: IRTNTR44684

Market Overview at a Glance

$44.22 B
Market Opportunity
14.2%
CAGR
12.2
YoY growth 2024-2025(%)

Governance Risk And Compliance (GRC) Platform Market Size 2025-2029

The governance risk and compliance (grc) platform market size is valued to increase USD 44.22 billion, at a CAGR of 14.2% from 2024 to 2029. Increased need to comply with regulatory requirements will drive the governance risk and compliance (grc) platform market.

Major Market Trends & Insights

  • North America dominated the market and accounted for a 39% growth during the forecast period.
  • By Deployment - On-premises segment was valued at USD 13.94 billion in 2023
  • By Component - Software segment accounted for the largest market revenue share in 2023

Market Size & Forecast

  • Market Opportunities: USD 222.02 million
  • Market Future Opportunities: USD 44224.60 million
  • CAGR : 14.2%
  • North America: Largest market in 2023

Market Summary

  • The market is a dynamic and evolving landscape that continues to gain significance in today's business environment. With the increasing need to comply with regulatory requirements, organizations are increasingly adopting GRC platforms to manage risks, ensure compliance, and mitigate threats. According to recent studies, the GRC market is expected to witness significant growth, with a notable adoption rate of 25% among large enterprises. Core technologies and applications, such as artificial intelligence and machine learning, are revolutionizing GRC platforms by enabling real-time risk assessment and automated compliance monitoring. Moreover, the integration of GRC platforms with third-party technologies, such as CRM and ERP systems, is enhancing their capabilities and improving operational efficiency.
  • However, the market also faces challenges, including the complexity of regulatory frameworks and the need for customization to meet specific industry requirements. Data security concerns are also a major challenge, with organizations needing to ensure the confidentiality, integrity, and availability of sensitive data. Despite these challenges, the GRC market presents significant opportunities for growth, particularly in industries with stringent regulatory requirements, such as healthcare and finance. The market is expected to continue evolving, with innovations in technology and regulatory frameworks driving new developments and applications.

What will be the Size of the Governance Risk And Compliance (GRC) Platform Market during the forecast period?

Governance Risk And Compliance (GRC) Platform Market Size

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How is the Governance Risk And Compliance (GRC) Platform Market Segmented and what are the key trends of market segmentation?

The governance risk and compliance (grc) platform industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

  • Deployment
    • On-premises
    • Cloud-based
  • Component
    • Software
    • Services
  • Application
    • Risk Management
    • Compliance Management
    • Audit Management
    • Policy Management
  • Enterprise Size
    • Small and Medium Enterprises (SMEs)
    • Large Enterprises
  • Industry Vertical
    • Banking, Financial Services, and Insurance (BFSI)
    • Healthcare
    • IT and Telecom
    • Manufacturing
    • Retail and Consumer Goods
    • Government and Public Sector
    • Energy and Utilities
  • Geography
    • North America
      • US
      • Canada
    • Europe
      • France
      • Germany
      • Italy
      • UK
    • Middle East and Africa
      • Egypt
      • KSA
      • Oman
      • UAE
    • APAC
      • China
      • India
      • Japan
    • South America
      • Argentina
      • Brazil
    • Rest of World (ROW)

    By Deployment Insights

    The on-premises segment is estimated to witness significant growth during the forecast period.

    In the realm of business operations, Governance Risk and Compliance (GRC) platforms play a pivotal role in addressing organizational objectives. These platforms encompass three essential dimensions: policy management, risk mitigation, and compliance reporting. Policy management systems enable organizations to establish, implement, and enforce policies that adhere to internal guidelines and external regulations. Risk mitigation strategies are an integral part of GRC platforms, identifying and managing various risks such as operational risks, financial risks, and fraud. Compliance reporting tools ensure adherence to rules and regulations set by regional regulatory bodies. Furthermore, data governance frameworks and centralized data repositories facilitate efficient risk management and compliance processes.

    Workflow automation and automated workflows streamline GRC tasks, reducing manual efforts and minimizing errors. Compliance automation tools and incident response planning further enhance the efficiency of these platforms. Data security protocols and internal control frameworks safeguard sensitive information and maintain data integrity. Governance dashboards and metrics, role-based access control, real-time monitoring, and vulnerability management systems offer valuable insights and enable proactive risk management. Audit management software and risk assessment methodologies help organizations identify potential risks and implement corrective measures. Contract lifecycle management and risk register management ensure compliance with contractual obligations and effective risk tracking. Audit trail management, GRC platform integration, governance frameworks, company risk management, information security management, and regulatory compliance frameworks further strengthen the GRC infrastructure.

    Metrics and reporting, along with compliance dashboards, provide valuable insights into the performance and effectiveness of the GRC initiatives. Access control management ensures secure access to sensitive information and maintains data privacy. According to recent studies, the adoption of on-premises GRC platforms has increased by 18%, with 35% of organizations planning to invest in these solutions in the upcoming year. Simultaneously, the market for cloud-based GRC platforms is projected to expand by 25%, underscoring the growing demand for advanced risk management and compliance solutions.

    Governance Risk And Compliance (GRC) Platform Market Size

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    The On-premises segment was valued at USD 13.94 billion in 2019 and showed a gradual increase during the forecast period.

    Governance Risk And Compliance (GRC) Platform Market Size

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    Regional Analysis

    North America is estimated to contribute 39% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

    Governance Risk And Compliance (GRC) Platform Market Share by Geography

    See How Governance Risk And Compliance (GRC) Platform Market Demand is Rising in North America Request Free Sample

    In the dynamic and evolving the market, the US leads the way with the largest implementation of GRC solutions. Following the global financial crisis of 2008, US financial services have prioritized risk management, adopting integrated data platforms to streamline internal and external data sources. These platforms enable the collection of valuable customer insights through tools like composite software and social analytics software. As a result, real-time targeting and quick decision-making have significantly improved. According to recent studies, 70% of financial institutions in the US have adopted GRC platforms, and 85% of these organizations report a reduction in operational risks.

    Furthermore, 90% of US financial services firms believe that GRC platforms have led to improved regulatory compliance. The market for GRC platforms in the US is expected to grow, with 60% of financial institutions planning to increase their investment in these solutions.

    Market Dynamics

    Our researchers analyzed the data with 2024 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

    The market is witnessing significant growth due to the increasing need for automated remediation workflows and centralized risk management platforms. These solutions enable organizations to effectively manage compliance training programs, streamline GRC process automation, and implement real-time compliance monitoring systems. The comprehensive risk assessment methodology integrated into these platforms provides a robust audit trail management solution, ensuring effective company risk management practices and data security and privacy protocols. Moreover, the adoption of integrated GRC platform capabilities, such as proactive risk mitigation strategies, enhanced policy and procedure management, and improved governance structure design, is gaining momentum. Continuous improvement frameworks and efficient incident response planning are also essential components of these platforms, enabling organizations to implement third-party risk assessment methodologies and risk-based internal audit programs.

    Key Risk Indicator (KRI) monitoring is a critical aspect of GRC platforms, ensuring comprehensive regulatory compliance and secure data storage and access control. The market is witnessing a shift towards advanced solutions that offer real-time data analytics and predictive risk modeling, enabling organizations to stay ahead of potential risks. According to market intelligence, adoption rates for automated GRC solutions in large enterprises are nearly double those in small and medium-sized businesses, highlighting the growing importance of these platforms in managing complex risk landscapes. Organizations across various industries are recognizing the value of investing in robust GRC solutions to mitigate risks, enhance operational efficiency, and ensure regulatory compliance.

    Governance Risk And Compliance (GRC) Platform Market Size

    What are the key market drivers leading to the rise in the adoption of Governance Risk And Compliance (GRC) Platform Industry?

    • Compliance with regulatory requirements is a critical market driver, necessitating increased adherence from industry professionals. 

    • Organizations in the United States operate under stringent regulatory requirements to manage their data effectively. The US government imposes acts and policies, such as the Sarbanes-Oxley Act (SOX) and the Health Insurance Portability and Accountability Act (HIPAA), which companies must adhere to for successful business operations. SOX outlines various controls for handling financial information, while HIPAA focuses on dealing with protected health information and maintaining privacy. These regulations ensure the confidentiality of patient health information and have expanded to cover a wide range of firms since 2010. Additionally, financial institutions are subject to regulations like the Financial Industry Regulatory Authority (FINRA), Gramm-Leach-Bliley Act, and the Fair Credit Reporting Act.
    • These guidelines aim to prevent fraud, scams, and other financial crimes and enable secure access to information for authorized parties. The Payment Card Industry Data Security Standard (PCI) compliance is another regulatory requirement for handling credit card information. These regulations play a crucial role in maintaining trust and security in the business landscape, ensuring that companies handle sensitive data responsibly and in accordance with the law. By adhering to these regulations, organizations demonstrate their commitment to transparency, accountability, and customer protection.

    What are the market trends shaping the Governance Risk And Compliance (GRC) Platform Industry?

    • The integration of GRC platforms with third-party technologies is an emerging market trend. This fusion enhances the functionality and effectiveness of governance, risk, and compliance systems.

    • Advanced Governance, Risk, and Compliance (GRC) platforms are transforming business landscapes by integrating new-generation technologies such as mobile technology, big data, social media, and cloud computing. This shift from traditional compliance to improved business performance is essential for organizations to stay competitive. Cloud computing, in particular, is revolutionizing the GRC space. It simplifies compliance execution through central administration and control of resources, SLA-backed agreements, and company-managed infrastructure. Cloud computing eliminates the need for users to maintain and update IT infrastructure for data storage, as they can easily access services and applications without installing additional software.
    • The adoption of these advanced technologies in GRC platforms is driving significant changes in the market, enabling more effective risk management, enhanced regulatory compliance, and improved operational efficiency.

    What challenges does the Governance Risk And Compliance (GRC) Platform Industry face during its growth?

    • The expansion of data security concerns poses a significant challenge to the industry's growth trajectory. As businesses increasingly rely on digital platforms, ensuring the protection of sensitive information becomes a critical priority, potentially hindering industry advancement. 

    • In the realm of business data management, the adoption of cloud technologies has seen significant growth, with an increasing number of organizations opting for this solution. According to recent studies, the global cloud services market is projected to reach a value of USD832.1 billion by 2027, growing at a steady pace. However, this shift towards cloud computing comes with its own set of challenges, particularly around data security. Despite cloud service providers implementing stringent security measures and industry certifications, the public nature of the cloud makes it a potential target for cyberattacks.
    • The ease of procuring and accessing cloud services can also create vulnerabilities within a company's network. These risks necessitate a robust access control system and continuous monitoring to mitigate potential threats. Organizations must strike a balance between the benefits of cloud technologies and the security concerns associated with them.

    Exclusive Customer Landscape

    The governance risk and compliance (grc) platform market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the governance risk and compliance (grc) platform market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

    Governance Risk And Compliance (GRC) Platform Market Share by Geography

     Customer Landscape of Governance Risk And Compliance (GRC) Platform Industry

    Competitive Landscape & Market Insights

    Companies are implementing various strategies, such as strategic alliances, governance risk and compliance (grc) platform market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

    ACL Services Ltd. dba Galvanize - This company specializes in providing governance, risk, and compliance solutions for businesses, enabling them to proactively identify and address potential risks and ensure regulatory compliance. The platform offers advanced tools and analytics to streamline risk management processes and maintain a strong compliance posture.

    The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

    • ACL Services Ltd. dba Galvanize
    • Appian
    • Check Point Software Technologies Ltd.
    • Corporater AS
    • Fidelity National Information Services Inc.
    • International Business Machines Corp.
    • LogicManager Inc.
    • Mega International SA
    • MetricStream Inc.
    • Microsoft Corp.
    • Mitratech Holdings Inc.
    • NAVEX Global Inc.
    • OneTrust LLC
    • Oracle Corp.
    • ROBERT HALF INC
    • SAI360 Inc.
    • SAP SE
    • SAS Institute Inc.
    • Software AG
    • Thomson Reuters Corp.
    • Wolters Kluwer NV

    Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

    Recent Development and News in Governance Risk And Compliance (GRC) Platform Market

    • In January 2024, SAP SE, a leading enterprise application software provider, announced the launch of its new GRC Cloud platform, SAP GRC 12.8, offering enhanced features for risk management, compliance, and identity governance (SAP press release, 2024). This development marked a significant advancement in the GRC market, as SAP expanded its product offerings to cater to the growing demand for cloud-based GRC solutions.
    • In March 2024, IBM and ServiceNow formed a strategic partnership to integrate IBM's Watson for Regulatory Compliance with ServiceNow's GRC platform (IBM press release, 2024). This collaboration aimed to provide organizations with a more comprehensive and intelligent GRC solution, combining IBM's regulatory expertise with ServiceNow's GRC capabilities.
    • In May 2024, RSA Security, a cybersecurity firm, raised USD150 million in a funding round led by Vista Equity Partners (RSA Security press release, 2024). The investment was earmarked for expanding RSA's GRC platform, enhancing its technology, and increasing its market presence.
    • In April 2025, the European Union's General Data Protection Regulation (GDPR) was strengthened with new guidelines, imposing stricter penalties for non-compliance (European Commission press release, 2025). This regulatory development emphasized the importance of robust GRC platforms for organizations dealing with EU data, driving increased demand for advanced GRC solutions.

    Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Governance Risk And Compliance (GRC) Platform Market insights. See full methodology.

    Market Scope

    Report Coverage

    Details

    Page number

    205

    Base year

    2024

    Historic period

    		 2019-2023

    Forecast period

    2025-2029

    Growth momentum & CAGR

    Accelerate at a CAGR of 14.2%

    Market growth 2025-2029

    USD 44224.6 million

    Market structure

    Fragmented

    YoY growth 2024-2025(%)

    12.2

    Key countries

    US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, and KSA

    Competitive landscape

    Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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    Research Analyst Overview

    • In the dynamic and ever-evolving landscape of Governance Risk and Compliance (GRC), organizations are increasingly relying on advanced platforms to manage risk mitigation strategies, ensure compliance reporting, and implement policy management systems. These platforms enable the creation of centralized data repositories, facilitating workflow automation and the integration of various GRC components. One key feature of these platforms is the implementation of automated workflows and compliance automation tools, which streamline processes and improve efficiency. Risk scoring models, incident response planning, business continuity planning, and data security protocols are all integrated into these systems, providing organizations with a comprehensive solution for managing risk and ensuring regulatory compliance.
    • Moreover, internal control frameworks and governance dashboards with metrics and reporting offer real-time monitoring capabilities, enabling organizations to identify and address issues promptly. Role-based access control and company risk management systems further enhance the security and effectiveness of these platforms. Real-time monitoring and vulnerability management systems are essential components of modern GRC platforms, allowing organizations to proactively address potential threats and mitigate risks. Audit management software and risk assessment methodologies ensure that organizations maintain accurate records and adhere to regulatory requirements. The integration of GRC platforms with various governance frameworks, regulatory compliance frameworks, and contract lifecycle management systems streamlines processes and reduces the risk of errors or oversights.
    • Additionally, risk register management and audit trail management features provide organizations with a clear and comprehensive view of their risk landscape and regulatory compliance status. In summary, the adoption of advanced GRC platforms is a crucial aspect of modern risk management and regulatory compliance strategies. These platforms offer a range of features, including automated workflows, real-time monitoring, and comprehensive reporting, to help organizations effectively manage risk and maintain regulatory compliance.

    What are the Key Data Covered in this Governance Risk And Compliance (GRC) Platform Market Research and Growth Report?

    • What is the expected growth of the Governance Risk And Compliance (GRC) Platform Market between 2025 and 2029?

      • USD 44.22 billion, at a CAGR of 14.2%

    • What segmentation does the market report cover?

      • The report segmented by Deployment (On-premises and Cloud-based), Component (Software and Services), Geography (North America, Europe, APAC, South America, Middle East and Africa, and Rest of World (ROW)), Application (Risk Management, Compliance Management, Audit Management, and Policy Management), Enterprise Size (Small and Medium Enterprises (SMEs) and Large Enterprises), and Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare, IT and Telecom, Manufacturing, Retail and Consumer Goods, Government and Public Sector, and Energy and Utilities)

    • Which regions are analyzed in the report?

      • North America, Europe, APAC, South America, and Middle East and Africa

    • What are the key growth drivers and market challenges?

      • Increased need to comply with regulatory requirements, Increasing data security concerns

    • Who are the major players in the Governance Risk And Compliance (GRC) Platform Market?

      • Key Companies ACL Services Ltd. dba Galvanize, Appian, Check Point Software Technologies Ltd., Corporater AS, Fidelity National Information Services Inc., International Business Machines Corp., LogicManager Inc., Mega International SA, MetricStream Inc., Microsoft Corp., Mitratech Holdings Inc., NAVEX Global Inc., OneTrust LLC, Oracle Corp., ROBERT HALF INC, SAI360 Inc., SAP SE, SAS Institute Inc., Software AG, Thomson Reuters Corp., and Wolters Kluwer NV

    Market Research Insights

    • The market encompasses a diverse range of solutions designed to help organizations manage and mitigate various risks, ensure regulatory compliance, and improve business processes. According to recent industry estimates, the global GRC market is projected to reach USD65.2 billion by 2026, growing at a compound annual growth rate (CAGR) of 12.2% during the forecast period. This growth is driven by the increasing complexity of data privacy regulations and the need for effective compliance documentation, risk communication plans, incident investigation, policy exception management, and integrated risk management. In contrast, a data mapping exercise conducted by an organization revealed that approximately 30% of its data assets were not properly mapped to relevant risk mitigation controls, leading to potential compliance gaps and operational risks.
    • Effective implementation of a GRC platform can help bridge this gap by providing control testing methodologies, compliance gap analysis, and continuous monitoring systems. Additionally, these platforms offer features such as risk profiling techniques, regulatory change management, process mapping techniques, risk appetite framework, governance structure design, and strategic risk management to enhance overall business resilience.

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    Table of Contents not available.

    Research Methodology

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    INFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases

    DATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts

    REPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape

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    Frequently Asked Questions

    Governance Risk And Compliance (Grc) Platform market growth will increase by $ 44224.6 mn during 2025-2029.

    The Governance Risk And Compliance (Grc) Platform market is expected to grow at a CAGR of 14.2% during 2025-2029.

    Governance Risk And Compliance (Grc) Platform market is segmented by Deployment( On-premises, Cloud-based) Component( Software, Services, APAC, South America, MEA)

    ACL Services Ltd. dba Galvanize, Appian, Check Point Software Technologies Ltd., Corporater AS, Fidelity National Information Services Inc., International Business Machines Corp., LogicManager Inc., Mega International SA, MetricStream Inc., Microsoft Corp., Mitratech Holdings Inc., NAVEX Global Inc., OneTrust LLC, Oracle Corp., ROBERT HALF INC, SAI360 Inc., SAP SE, SAS Institute Inc., Software AG, Thomson Reuters Corp., Wolters Kluwer NV are a few of the key vendors in the Governance Risk And Compliance (Grc) Platform market.

    North America will register the highest growth rate of 39% among the other regions. Therefore, the Governance Risk And Compliance (Grc) Platform market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

    US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA

    • Increased need to comply with regulatory requirementsOrganizations are bound to follow regulatory requirements to manage corporate data. The US government is imposing acts and policies is the driving factor this market.
    • such as SOX and Health Insurance Portability and Accountability Act (HIPAA) is the driving factor this market.
    • and data breach notification laws in the country that companies need to abide by for conducting business effectively. While the SOX regulation lists various controls mandatory for handling financial information is the driving factor this market.
    • HIPAA highlights instructions to deal with protected health information and maintain privacy. It ensures the confidentiality of a patients health information is the driving factor this market.
    • and the same has been expanded to a wide range of firms since 2010.The Financial Industry Regulatory Authority (FINRA) by investment companies is the driving factor this market.
    • Gramm-Leach-Bliley and Fair Credit Reporting Acts by banks is the driving factor this market.
    • and the Payment Card Industry Data Security Standard or PCI compliance are some of the regulatory compliances that provide guidelines to prevent fraud is the driving factor this market.
    • scams is the driving factor this market.
    • and other financial crimes and enable secure access to information for authorized parties. Organizations in the healthcare is the driving factor this market.
    • insurance is the driving factor this market.
    • and banking sectors have developed new data-sharing policies that act in accordance with external regulations as they deal with vulnerable information. Cloud-based GRC solutions are cost-effective when compared with isolated regulation-specific compliance programs. The hosted GRC solutions enable organizations to align their data and communication is the driving factor this market.
    • records management is the driving factor this market.
    • and information security policies efficiently.The regulatory reforms are modified regularly to include all the changing requirements of the enterprises is the driving factor this market.
    • which makes it difficult for the organizations to adhere to the compliance regulations and adversely affects overall productivity. Thus is the driving factor this market.
    • enterprises are adopting a cloud-based GRC platform to ensure regulatory compliance and gain a competitive advantage in the market.The impact of the major regulations on the global governance risk and compliance (GRC) platform market is described below:Impact of Dodd-Frank Act on GRCSeveral rules and regulations for swaps came into effect under the Dodd-Frank Act. This act completely overhauled the global financial sector and will have a profound impact on the organizations financial records and information practices. This act brings transparency is the driving factor this market.
    • accountability is the driving factor this market.
    • and stability to the financial system. The financial sector is the driving factor this market.
    • as well as a non-financial sector is the driving factor this market.
    • which includes utilities is the driving factor this market.
    • chemicals is the driving factor this market.
    • mining is the driving factor this market.
    • airlines is the driving factor this market.
    • agri-business is the driving factor this market.
    • and commerce is the driving factor this market.
    • will be affected and require the implementation of appropriate business is the driving factor this market.
    • management is the driving factor this market.
    • and technology tools. Dodd-Frank Act makes record keeping for business documentation mandatory. Therefore is the driving factor this market.
    • it is essential for all organizations to establish GRC programs is the driving factor this market.
    • policies is the driving factor this market.
    • and tools to control the increasing enterprise content.In addition to the management of enterprise content is the driving factor this market.
    • which consists of e-mails and customer account information is the driving factor this market.
    • features such as security and access control of sensitive information are also integrated into the existing enterprise content management (ECM) tools. The Dodd-Frank Act also provides incentives to whistleblowers who report data security breaches to the government rather than the organization so that corrective actions can be taken. This allows organizations to mitigate risks arising from data losses by implementing data loss prevention tools. These tools alert the concerned authorities about data leakage for malicious purposes.The implementation of this act requires ECM capabilities. It is essential for organizations to have a proper workflow to automate business processes is the driving factor this market.
    • as financial advisors need to make decisions based on FINRA rules. ECM tools deliver automation capabilities for monitoring is the driving factor this market.
    • auditing is the driving factor this market.
    • and reporting to make regulatory compliance easier. Without these basic tools is the driving factor this market.
    • businesses are limited to manual processes is the driving factor this market.
    • which increases business risks. Even though there are many uncertainties surrounding the implementation of the Dodd-Frank Act is the driving factor this market.
    • such as developing regulations is the driving factor this market.
    • organizations that are proactively implementing policies and compliance programs would be the least exposed to future risks.Impact of Basel III on GRCBasel III is aimed at increasing bank capital requirements by decreasing leverage and increasing bank liquidity. The capital requirement is usually expressed in terms of capital adequacy ratio is the driving factor this market.
    • which is the percentage of the equity to the risk-weighted assets. This act was implemented to prevent the government from paying the taxpayers money to the banking system is the driving factor this market.
    • which happened during the global recession of 2008. Basel III regulation will have a significant impact on capital and leverage management and the subsequent adoption of new technological tools to manage data and mitigate risk.Different regulatory bodies mandate the financial sector to abide by the numerous rules under Basel III. This would require systems to monitor all the intra-day liquidity ratios and capture huge chunks of data for forecasting liquidity coverage ratios. The regulation will also require integrated reporting is the driving factor this market.
    • real-time risk-weighted assets and capital calculations is the driving factor this market.
    • liquidity management is the driving factor this market.
    • and data reconciliation. Therefore is the driving factor this market.
    • it would require IT systems for capturing data is the driving factor this market.
    • data modeling is the driving factor this market.
    • data warehousing is the driving factor this market.
    • and reporting. Large financial institutes are focusing on private cloud-based IT solutions for elasticity to mitigate demand fluctuations is the driving factor this market.
    • reduce TCO is the driving factor this market.
    • and secure critical data. Such factors are expected to drive the growth of the global governance risk and compliance (GRC) platform market during the forecast period. is the driving factor this market.

    The Governance Risk And Compliance (Grc) Platform market vendors should focus on grabbing business opportunities from the On-premises segment as it accounted for the largest market share in the base year.