Chicago, May 28, 2024 (GLOBE NEWSWIRE) -- The eGRC Market size is projected to grow from USD 18.3 billion in 2024 to USD 34.5 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period, according to a new report by MarketsandMarkets™.  The adoption of eGRC is primarily driven by the need to combat cyber threats, such as data breaches, ransomware attacks, and phishing scams, which pose significant risks to organizations' data and operations. eGRC solutions integrate cybersecurity risk management into broader governance and compliance frameworks, enabling organizations to effectively identify, assess, and mitigate cyber risks. Browse in-depth TOC on "eGRC Market" 645 - Tables 61 - Figures 412 – Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1310 eGRC Market Dynamics:  Drivers: Increasing need to comply with stringent regulatory mandates Rising cybersecurity threats Flexibility and scalability offered by cloud-based eGRC systems Restraints: Adapting to changing laws and regulations Opportunities: Integration of AI/ML and blockchain technologies into GRC solutions Integration of eGRC with core business operations List of Top Companies in eGRC Market : IBM Microsoft Oracle SAP SAS Institute ServiceNow Thomson Reuters FIS Wolters Kluwer LexisNexis Integrating AI and machine learning in eGRC solutions significantly advances risk management and compliance processes. These technologies enable eGRC platforms to analyze vast amounts of data quickly and accurately, identifying patterns, anomalies, and emerging risks that traditional methods may miss. By leveraging AI and machine learning, organizations can enhance risk assessment, automate compliance monitoring, and improve decision-making processes, ultimately increasing efficiency and effectiveness in managing governance, risk, and compliance. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1310 Trend: Cloud-Based Solutions Cloud-based eGRC solutions offer organizations greater flexibility, scalability, and accessibility compared to traditional on-premises systems. Cloud-based platforms allow for easy deployment, seamless updates, and reduced infrastructure costs, making them particularly attractive for organizations of all sizes. Additionally, cloud-based eGRC solutions enable real-time collaboration among stakeholders, facilitate remote access to critical data and insights, and support rapid scalability to accommodate changing business needs and regulatory requirements. However, these benefits come with challenges, particularly regarding regulatory compliance. Businesses must comply with various regulatory requirements, including GDPR, HIPAA, and PCI-DSS, to protect personal data, ensure data security, and avoid costly penalties. One of the significant challenges in cloud compliance is data protection and privacy. Businesses must ensure that customer data is protected and their privacy is maintained. This involves implementing robust security measures to protect against unauthorized access, data breaches, and cyber-attacks. Additionally, businesses must ...