Market Size And Forecast: Governance, Risk And Compliance Software 2023-2029 (Global)

Published 20 December 2024 by Katelyn Johnson & Christine O'Donnell &
GRC Risk Management Risk Management Market Size & Forecast

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Executive Summary

This report helps risk management professionals better understand the current state and future developments of the governance, risk and compliance (GRC) software market. The Verdantix market size and forecast model incorporates analysis of different market drivers, survey data, and disclosed and calculated revenue information, to forecast the market’s growth by region and industry. Verdantix research finds that the overall GRC software market was worth more than $4.98 billion in 2023 and will grow to nearly $9.08 billion in 2029, at a CAGR of 11%.

Table of contents

Summary for decision-makers
The GRC software market will almost double by 2029

Market size data reflect revenues and trends from GRC software vendors
The GRC software market was worth $4.98 billion in 2023
Global regulations and risk complexity accelerate demand for GRC software
Increased risk exposure drives firms to seek solutions for enterprise resiliency and operational efficiency
The GRC software market will reach over $9 billion in 2029

Table of figures

Figure 1. Geographic breakdown: core countries in six regions
Figure 2. Industries categorized by risk level
Figure 3. Verdantix market size and forecast methodology
Figure 4. GRC software market by region: 2023
Figure 5. GRC software market by industry: 2023
Figure 6. GRC software market by region: 2023-2029
Figure 7. GRC software market by industry: 2023-2029

About the authors

Katelyn Johnson

Senior Manager, Risk Management
Katelyn is the Senior Manager in the Verdantix Risk Management practice. Her current research agenda focuses on climate risk and its integration into risk management frameworks. Prior to joining Verdantix, Katelyn was a climate scientist at GNS Science in New Zealand. She has previously held roles in the energy industry, where she helped projects manage risk due to weather and ocean phenomena. Katelyn holds a PhD in Geology from Victoria University of Wellington and an MS in Earth Sciences from Ohio State University – both focusing on climate science – as well as a BS in Meteorology from Texas A&M University.

Christine O'Donnell

Senior Analyst
Christine is a Senior Analyst in the Verdantix Risk Management practice. Her current research agenda focuses on reputational risk, third-party risk, ESG risk, GRC solutions and regulatory change. Prior to joining Verdantix, Christine worked at Gartner, where she specialized in organizational design and change management. Christine holds a first-class BSc in Geography from the University of Birmingham.

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