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Industry Landscape
The GRC software market is experiencing significant growth, driven by increasing regulatory complexity, cybersecurity threats, and the need for operational efficiency. Cloud-based solutions and AI integration are becoming paramount, enabling automated compliance, risk assessment, and reporting. Organizations are seeking unified platforms to manage diverse regulatory requirements and ensure legal defensibility, moving away from manual, fragmented processes.
Total Assets Under Management (AUM)
GRC Software Market Size in United States
~Approximately 12.8 billion USD (2023)
(13.2% CAGR)
Growth driven by increasing regulatory demands.
Automation and AI adoption for efficiency.
Expansion into new risk areas like ESG.
Total Addressable Market
50 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Policy Interpretation
Generative AI can automate the interpretation of complex regulatory texts, generating summaries and identifying key compliance obligations, significantly reducing manual analysis time.
Blockchain for Immutable Audit Trails
Blockchain technology can provide immutable and transparent records of compliance activities and controls, enhancing auditability and trust in GRC processes.
AI-Powered Predictive Compliance
Advanced AI models can analyze vast datasets to predict future regulatory changes and potential compliance risks, enabling proactive adaptation and mitigation strategies.
Impactful Policy Frameworks
Cybersecurity and Infrastructure Security Agency (CISA) Shields Up Initiative (Ongoing)
CISA's Shields Up initiative, continuously updated since 2022, provides guidance and resources to critical infrastructure organizations to strengthen their cybersecurity defenses against evolving threats.
This policy increases the need for organizations to integrate cybersecurity compliance directly into their GRC frameworks and ensure their controls align with CISA's recommendations for enhanced resilience.
SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure Rules (2023)
The SEC's new rules, effective 2023, require public companies to disclose material cybersecurity incidents within four business days and provide annual disclosures regarding their cybersecurity risk management, strategy, and governance.
This regulation mandates enhanced transparency and robust internal controls for cybersecurity, driving demand for GRC solutions that support incident response management and reporting for public companies.
California Privacy Rights Act (CPRA) (Effective 2023)
The CPRA, effective January 1, 2023, strengthens California's consumer data privacy protections, including new rights for consumers and establishing the California Privacy Protection Agency (CPPA).
The CPRA necessitates that businesses expand their data privacy compliance efforts beyond CCPA, requiring updated data mapping, consent management, and incident response protocols, impacting any company handling Californian consumer data.
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