This report identifies key demand-side trends in the governance, risk, and compliance (GRC) services space, guiding enterprises in refining their GRC strategies. It offers insights into the evolving regulatory landscape, industry-driven adoption of GRC solutions, key challenges faced by enterprises, and the integration of Gen AI into GRC processes based on Avasant’s assessment.
Why read this Market Insights?
Industries such as manufacturing, banking, financial services, and healthcare and life sciences operate in strict regulatory and high-risk environments, creating a need for compliance management, securing sensitive data, mitigating risks, ensuring operational continuity, and adopting ethical AI practices to support resilience and integrity in complex regulatory and operational landscapes.
The Governance, Risk, and Compliance Services 2024 Market Insights™ aids enterprises in identifying important market trends and challenges for any governance, risk, and compliance project that they take part in.
Methodology
The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with service providers, subject matter experts, and Avasant Fellows, analyst insights from primary and secondary research, and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Defining governance, risk, and compliance
- Key enterprise governance, risk, and compliance trends shaping the market
- Avasant recognizes 16 top-tier providers supporting enterprise adoption of governance, risk, and compliance services
Demand-side trends (Pages 8–12)
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- Manufacturing, banking, financial services, and healthcare and life sciences account for over 50% of the governance, risk, and compliance services.
- Growing demand for regulatory compliance, risk management, and IT governance solutions are driving the adoption of GRC services in key industries.
- Complex regulations, fragmented asset repositories, and inefficient legacy systems hinder risk and regulatory compliance management.
- Rapidly evolving regulatory landscape with new AI and data privacy regulations are shaping compliance standards across the globe.
Key contacts (Pages 13)
Read the Research Byte based on this report. Please refer to Avasant’s Governance, Risk, and Compliance Services 2024 RadarView™ for detailed insights on the service providers and supply-side trends.