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Governance Risk and Compliance (GRC) Platform Market size is set to grow by USD 37.63 billion from 2024-2028, Increased need to comply with regulatory requirements boost the market, Technavio

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NEW YORK, June 14, 2024 /PRNewswire/ — The global governance risk and compliance (GRC) platform market size is estimated to grow by USD 37.63 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.64% during the forecast period. Increased need to comply with regulatory requirements is driving market growth, with a trend towards integration of GRC platform with third-platform technologies. However, increasing data security concerns poses a challenge. Key market players include ACL Services Ltd. dba Galvanize, 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 International Inc., SAI Global Pty. Ltd., SAP SE, SAS Institute Inc., Software AG, Thomson Reuters Corp., and Wolters Kluwer NV.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Governance Risk And Compliance (GRC) Platform Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.64%

Market growth 2024-2028

USD 37633.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

11.73

Regional analysis

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

Performing market contribution

North America at 39%

Key countries

US, UK, China, Germany, and India

Key companies profiled

ACL Services Ltd. dba Galvanize, 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 International Inc., SAI Global Pty. Ltd., SAP SE, SAS Institute Inc., Software AG, Thomson Reuters Corp., and Wolters Kluwer NV

 

Market Driver

The GRC market is evolving, with a focus on better business performance beyond just compliance. Cloud computing simplifies GRC execution with centralized control, SLA-backed agreements, and cost savings. File analysis, a big data trend, helps manage unstructured data and extract valuable insights. IBM, HP, and storage providers offer GRC solutions for unstructured data. Machine learning prioritizes data for review, driving GRC market growth. 

The Governance, Risk, and Compliance (GRC) platform market is witnessing significant growth due to the increasing importance of managing risks and ensuring compliance in businesses. Companies are investing in advanced technology solutions to automate GRC processes and improve efficiency. The use of artificial intelligence and machine learning is becoming increasingly popular in GRC platforms to help identify and mitigate risks in real-time.

Additionally, the integration of machine learning models with predictive analytics is enabling organizations to anticipate potential risks and take proactive measures. The market for GRC platforms is expected to continue growing as more businesses recognize the need for effective risk management and compliance. Key features of these platforms include policy management, risk assessment, incident management, and reporting. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The Global GRC Platform Market faces challenges due to data security concerns in using cloud technologies. Cloud services, while convenient, increase vulnerability as they are accessible from outside premises and involve multi-tenant architectures. The COVID-19 crisis has led to an increase in security breaches and privacy invasions, making organizations wary of sharing sensitive data. To address these issues, there is a need for robust incident response models and strong data security assurances. These factors may hinder the market’s growth during the forecast period.The Governance Risk and Compliance (GRC) platform market faces several challenges in implementing and managing effective solutions. One challenge is integrating various systems and processes from different sources, such as machine learning and predictive analytics, into a unified platform. Another challenge is ensuring the accuracy and reliability of data, especially in large and complex organizations.Additionally, keeping up with regulatory changes and maintaining compliance can be a significant challenge for many businesses. Furthermore, managing risks associated with third-party vendors and suppliers is also a critical issue. Lastly, ensuring proper training and awareness of GRC policies and procedures among employees is essential to mitigate risks and maintain compliance.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Deployment 1.1 On-premise1.2 Cloud-basedComponent 2.1 Software2.2 ServicesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 On-premise- The Governance Risk and Compliance (GRC) platform market consists of solutions that help organizations manage corporate governance, risk, and compliance. These platforms assist businesses in implementing structural policies, managing risks, and adhering to regulations. On-premise GRC solutions range from USD200,000 to USD600,000 and are popular among large enterprises.

Notable platforms include HighBond and RSA Archer, which offer features like automation, collaboration, and integration with external systems. The market is expanding with the introduction of AI-specific GRC platforms, such as Credo AI’s solution, which caters to the unique challenges of AI systems.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In today’s business landscape, the Governance, Risk, and Compliance (GRC) platform market plays a pivotal role in managing complex processes and mitigating risks for various industries, including financial institutions. Managers rely on these platforms to monitor costs associated with business operations, intellectual property protection, and cyberthreats in the era of globalisation and technology integration. Azure Purview and MetricStream are examples of advanced GRC solutions that leverage artificial intelligence and machine learning to enhance risk assessment and compliance reporting.

Oracle’s eGRC suite and IT & Telecom organizations also benefit from these platforms, as they help manage the complexity of integration between various software systems and ensure adherence to regulatory requirements. Business processes, costs, cyberthreats, intellectual property, globalisation, technology integration, and software are essential components of the GRC platform market.

Market Research Overview

The Governance, Risk and Compliance (GRC) platform market encompasses solutions that help organizations manage and mitigate risks, ensure compliance with regulations, and establish effective governance structures. These platforms utilize advanced technologies such as artificial intelligence, machine learning, and predictive analytics to provide real-time insights and automate processes.

They offer features like risk assessment, policy management, compliance monitoring, and reporting. GRC platforms cater to various industries and sectors, including finance, healthcare, retail, and technology. They enable organizations to streamline their operations, enhance security, and maintain regulatory compliance. Additionally, they provide a centralized platform for managing and mitigating risks, improving overall business performance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premiseCloud-basedComponentSoftwareServicesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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JumpCloud Acquires VaultOne, Igniting a New Era of Privileged Access Management

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LOUISVILLE, Colo., May 20, 2025 /PRNewswire/ — JumpCloud Inc. is making IT simpler with the acquisition of VaultOne. VaultOne delivers robust privileged access management (PAM) solutions providing secure access into a wide range of critical assets, ranging from SaaS applications to cloud infrastructure and databases. JumpCloud’s acquisition furthers its goal to simplify IT operations across a secure access control platform for today’s global workforce.

Organizations need enhanced control and security of privileged resources. VaultOne enables security and IT teams as well as managed security service providers (MSSPs) to protect and monitor critical assets effectively by controlling and monitoring their access.

“We are continuously evaluating our customers’ needs to extend JumpCloud into more areas where we can provide secure, frictionless access to resources, regardless of where the team or resources are located,” said Greg Keller, chief technology officer and co-founder, JumpCloud. “The acquisition of VaultOne brings a deeply experienced team and established PAM technology into the JumpCloud family. This allows us to immediately offer a dedicated PAM solution with the granular control necessary to navigate today’s complex security landscape, while providing more critical access control capabilities our customers can consolidate and depend upon from JumpCloud’s platform.”

Key benefits:

Privileged access for all your critical assets: Customers gain robust access controls for cloud providers, databases, servers, and applications to ensure every action is recorded and audited with customizable policies to prevent misuse and errors.Secure browsing, built-in: This modern PAM solution comes with a secure, browser-in-browser access experience, to tightly control and monitor any action privileged users take.Remove the need for VPN: VaultOne’s unique architecture allows access into crucial resources without the need for a traditional VPN, reducing costs while increasing security for users.Radically reduce cyber threats: Automatically eliminate lateral movement threats and reduce your attack surface with granular controls combined with continuous monitoring to further reduce internal and external threats targeting critical resources.Scalable security for growing organizations: This acquisition enables JumpCloud to offer an end to end scale of authentication security. From password management to passwordless, and now privileged access, to cover every type of access organizations need as they scale.

“Joining forces with JumpCloud represents a powerful alignment of our visions,” said Leonardo Cooper, CEO, VaultOne. “We are thrilled to integrate VaultOne’s PAM technology into JumpCloud’s comprehensive platform, working together to create a truly unified and secure IT experience for organizations of all sizes.”

Current VaultOne customers will keep their service without interruption.

The details of the transaction are not being disclosed.

About JumpCloud
JumpCloud® delivers a unified identity, device, and access management platform that makes it easy to securely manage identities, devices, and access across your organization. With JumpCloud, IT teams and MSPs enable users to work securely from anywhere and manage their Windows, Apple, Linux, and Android devices from a single platform.

Learn more: https://www.jumpcloud.com/
Follow us: Blog | Community | Podcast | X | LinkedIn | YouTube | Resources

Click here to get started with JumpCloud

Contact
For JumpCloud
Josie Judy
press@jumpcloud.com

View original content:https://www.prnewswire.com/news-releases/jumpcloud-acquires-vaultone-igniting-a-new-era-of-privileged-access-management-302457990.html

SOURCE JumpCloud, Inc.

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Rapidan Energy Group Wins 2025 AMA Crystal Award for Most Improved Website

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WASHINGTON, May 19, 2025 /PRNewswire/ — Rapidan Energy Group is proud to announce it has been named the winner of the Most Improved Website category at the 2025 American Marketing Association (AMA) Crystal Awards.

The award honors Rapidan’s complete in-house website redesign, which was completed in just five months and under budget. The project was spearheaded by Nell Lukosavich, Rapidan’s Head of Marketing, and successfully aligns with Rapidan’s evolution over the past 16 years into a leading global energy research and advisory firm.

“Our goal was to create a site that actually reflects what Rapidan is today—a unique repository of energy market, policy and geopolitical expertise along with broadening and deepening analytical capabilities that is deeply committed to helping clients managing energy risks and opportunities across the globe,” said Nell Lukosavich. “To see it recognized by the AMA is incredibly gratifying, and it’s a testament to what strategic in-house collaboration and determination can achieve.”

The new site, launched in May 2024, achieved—and exceeded—every major objective, including increased new users to the site, a significant bump in international site traffic, and new client sales brought in from the site’s lead generation strategy.

“In today’s digital-first world, your website is your front door,” said Bob McNally, Rapidan Energy Group’s Founder and President. “We realized we had outgrown our old online presence, and thanks to Nell’s leadership, we now have a site that matches the strength and ambition of our talented and growing team and will facilitate future growth.”

The redesign included over 30 new pages of research insights content, integration of Rapidan’s 15th anniversary brand campaign, live content updates, and more effective communication with clients and prospects.

This recognition by the AMA Crystal Awards marks a significant milestone in Rapidan Energy Group’s ongoing growth and commitment to delivering forward-looking energy market, policy, and geopolitics data and research to clients worldwide.

About Rapidan Energy Group

Rapidan Energy Group provides differentiated and actionable insights on energy markets, policy, and geopolitics. We help leading corporations and financial firms identify opportunities and manage risks in the global energy industry and markets.

For more information, please visit www.rapidanenergy.com.

For more information on Rapidan’s subscription and bespoke research services, please contact us at insight@rapidanenergy.com.

Media Contact:
Nell.Lukosavich@rapidanenergy.com
www.rapidanenergy.com

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SOURCE Rapidan Energy Group

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BI2 Technologies and Support Our Sheriffs Foundation partner with SingleCare to create Sheriff Rx

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Free program will provide access to affordable medications to Sheriffs’ employees across the nation

PLYMOUTH, Mass., May 19, 2025 /PRNewswire/ — Many people, including those with full-time jobs, often struggle to cover deductibles and copays for prescription drugs, even with insurance.  That is why Support Our Sheriffs Foundation™ and BI2 Technologies™ are proud to announce they have partnered with SingleCare® to create Sheriff Rx™.  

Sheriff Rx™ will provide access to affordable prescription medications, ensuring greater health and financial stability.

The Sheriff Rx™ prescription discount card is completely free. The discounts and savings on medications are provided voluntarily by more than 35,000 participating pharmacies that agree to provide prices similar to what they give large insurance companies.

The card has no eligibility requirements and is available to anyone. There are no forms to fill out, waiting period or registration.

If employees and their families already have prescription drug coverage, Sheriff Rx™ can be used to obtain savings on prescription drugs that may be excluded by your insurance plan or are not covered because you have exceeded your insurance plan’s maximum limits. In some instances, members might find that the Sheriff Rx™ price is lower than many insurance copayment amounts.

SingleCare® partners with some of the most respected community groups and health care providers in the country, including United Way Worldwide, National Council for Behavioral Health, Mental Health America, and American Heart Association, among thousands of other community organizations.

“When people can afford their prescriptions, they end up saving money on more expensive items like emergency room visits and hospitalizations,” said BI2 Technologies Chief Relationship Office John Leonard.  “We are excited to work with the Support Our Sheriffs Foundation™ and SingleCare® to provide Sheriff Rx™ at no cost to Sheriffs’ employees and their families.”

SingleCare® is accepted by major pharmacies, including CVS, Rite Aid, Walgreens, Albertsons, Kroger and Walmart, as well as many local retailers.

“As we work to support our Sheriffs’ Offices across the nation, it is crucial that every employee and their families have access to affordable medications and are empowered to take control of their health,” said Support Our Sheriffs Executive Director Mark Lamb. “Sheriff Rx™ is designed to do just that.”

To see how much you can save, please visit www.supportoursheriffs.org or email John Leonard at jleonard@bi2technologies.com.

About the Support Our Sheriffs Foundation™
The Support Our Sheriffs Foundation is made up of current and former law enforcement professionals, businesses and community activists who are dedicated to supporting the mission of Sheriffs Offices across the nation. Donations to the Foundation are used to provide essential resources, financial support, training, and programs that enhance the effectiveness, safety, and well-being of Sheriffs, their employees, their families, and the communities they serve. For more information about the Foundation or to donate, please visit www.supportoursheriffs.com.

About BI2 Technologies™
BI2 Technologies (Biometric Intelligence and Identification Technologies) is an award-winning and recognized leader in the development and implementation of cost-effective, multimodal biometric identity management solutions.  BI2 Technologies created and maintains the only national, cloud-based iris biometric network and database. No other organization, public or private, has developed or implemented this capability.

About SingleCare®
SingleCare® is a free prescription savings service that provides consistently low prices to improve access and adherence to medication. It handles tens of thousands of prescriptions per day and is helping millions of people across the U.S. save a significant amount of money on their prescriptions. Through a combination of innovative technology and direct contracts with pharmacies, SingleCare® allows consumers to access prescription savings at pharmacies near them via the mobile app or discount cards available on SingleCare.com. SingleCare® partners with the country’s leading pharmacy companies, including CVS, Walmart and Walgreens, covering over 35,000 pharmacies nationwide.

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SOURCE BI2 Technologies

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