The constantly-increasing reliance on GRC solutions across enterprises exclusively drives the United States GRC industry. Organizations are discovering Multiple uses of GRC within the organizational structure. GRC has become an inseparable aspect of crucial aspects, including cyber security.
GRC is invading various domains. For example, GRC platforms are used to handle credit card risks and fraud detection. The potential of GRC, which in turn makes them viable for tackling urgent concerns, surfaces as the key market driver.
The pandemic, although it declined, still has an impact on the GRC market. The corporate world has changed drastically as a direct effect of the pandemic. Remote work was a viable option. Although several enterprises are back to the ‘work-from-office,’ a considerable number of them are yet to start the trend. The work-from-home culture is still predominant in the world, fueling businesses’ widespread adoption of GRC solutions.
GRC solutions were relied upon to derive valuable insights into current market trends and help enforce a vibrant market position.
Thriving on these trends, the U.S GRC industry is poised for tremendous growth, especially in the coming years during the period between 2022 to 2027.
Talking about the global GRC industry, the worldwide GRC platform market size was around $35.2 billion in 2021. Going by the trends, the market is expected to reach approximately $US68.7 billion in 2027. The predicted CAGR is about 11.7%.