Australia eGRC Market (2025-2031) | Outlook, Share, Value, Growth, Trends, Industry, Forecast, Revenue, Analysis, Companies & Size

Australia EGRC Market Highlights

Topics Covered in the Australia eGRC Market Report

Australia eGRC Market report thoroughly covers the market by component, vertical, deployment model and organisation size. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Australia eGRC Market Synopsis

Australia eGRC Market has emerged as a pivotal tool for ensuring enterprise-wide resilience and sustainability. Amidst a milieu characterized by evolving regulatory requirements and the complexities of digital transformation, eGRC solutions offer a strategic pathway for organizations to adeptly manage risk, ensure compliance, and foster governance processes. The growing emphasis on digital security, coupled with a keen focus on operational efficiency, has propelled the adoption of eGRC systems across various sectors in Australia. This trend is further bolstered by the increasing reliance on advanced technologies such as AI (Artificial Intelligence) and ML (Machine Learning) to automate and refine risk management and compliance procedures. As the Australian eGRC market progresses, it is anticipated to usher in a new era of governance, where enhanced decision-making capabilities and strategic risk oversight become key drivers of business success and competitiveness in the global arena.

According to 6Wresearch, the Australia eGRC Market size is projected to grow at the CAGR of 5.6% during the forecast period of 2025-2031. The main driver of the eGRC market in Australia is the growing need for organizations to effectively manage their risks and ensure compliance with regulations. With increasing complexity and frequency of cyber-attacks, businesses are realizing the importance of having a robust risk management framework in place. Additionally, there is an increasing focus on corporate social responsibility and ethical business practices, which has led to a greater emphasis on compliance and ethical conduct within organizations. Moreover, the rise of digital transformation and adoption of new technologies in the Australian market has also contributed to the demand for eGRC solutions. With the use of cloud computing, big data analytics, and Internet of Things (IoT) devices, organizations are facing new risks and challenges that require specialized eGRC solutions to effectively manage them. Despite the Australia eGRC Market Growth, there are still some challenges that need to be addressed. One of the major challenges is the lack of awareness and understanding of eGRC among smaller businesses. Many small and medium-sized enterprises (SMEs) are not fully aware of the benefits of eGRC solutions and often struggle with limited resources to invest in them. Another challenge is the complexity of eGRC solutions, which can be overwhelming for organizations without prior experience or expertise in this area. This requires vendors to provide user-friendly and customizable solutions that cater to the specific needs and capabilities of different organizations. Moreover, there is a lack of standardized regulations and guidelines for eGRC in Australia. This can create confusion for organizations when it comes to compliance and reporting requirements, as they may vary across industries or jurisdictions. This also poses a challenge for vendors who need to keep up with evolving regulations and ensure their solutions remain compliant.

Government policies and schemes introduced in the Australia eGRC Market

In Australia, the government has implemented several policies and schemes aimed at enhancing the enterprise governance, risk, and compliance (eGRC) market. One notable initiative is the Australian Prudential Regulation Authority (APRA) standards, which provide a framework for financial institutions to manage risk effectively, ensuring they maintain capital and operative in a reliable and stable manner. Additionally, the Australian Securities and Investments Commission (ASIC) enforces and regulates company and financial services laws to protect Australian consumers, investors, and creditors. These regulations are designed to foster transparency, accountability, and trust in the financial and corporate sectors, directly impacting the eGRC market by necessitating robust compliance and risk management solutions.

Leading players in the Australia eGRC Market

The eGRC market in Australia is characterized by a blend of global and local players, offering a range of solutions tailored to meet the intricate compliance and risk management needs of Australian businesses. Prominent amongst these is MetricStream, known for its comprehensive suite of eGRC applications. Another significant player is SAI Global, an Australian-based company that offers integrated risk management solutions, including compliance and ethics learning content. IBM and Thomson Reuters further contribute to the competitive landscape with their advanced eGRC platforms, leveraging AI and analytics to provide insights and streamline compliance processes. These key players, alongside a growing number of start-ups and specialized firms, are pivotal to the evolution and expansion of the eGRC market in Australia.

Future Insight of the Australia eGRC Market

The future of the Australia eGRC Industry is poised for significant growth, driven by increasing regulatory pressures, digital transformation, and the heightened need for cybersecurity. With regulations becoming more complex and enforcement more stringent, Australian companies are expected to invest more in eGRC solutions that offer not just compliance but also strategic advantage. Emerging technologies like AI, machine learning, and blockchain are set to play a pivotal role in the evolution of eGRC solutions, enabling more predictive risk management models and real-time compliance monitoring. Furthermore, the integration of environmental, social, and governance (ESG) criteria into risk management frameworks is anticipated to become a major trend. This emphasis on sustainability and social responsibility reflects the broader global shift towards ethical business practices and will likely spur the development of new eGRC products and services tailored to these needs.

Market analysis by component

The software segment is expected to witness a significant growth in the Australian eGRC market, owing to the increasing adoption of advanced technologies such as AI and ML in risk management and compliance processes. This software enables organizations to automate various governance tasks, such as policy management, risk assessment, and compliance reporting, leading to improved efficiency and accuracy. Additionally, the growing trend of digital transformation and the need for centralized risk management and compliance processes are also driving the demand for eGRC software in Australia.

Market analysis By Vertical

According to Dhaval, Research Manager, 6Wresearch, among verticals, BFSI is expected to hold a major share in the Australian eGRC market, owing to its high sensitivity towards data protection, regulatory compliance, and reputational risks. The increasing number of cyber threats and data breaches in the financial sector has led to a greater focus on risk management and compliance, driving the demand for eGRC solutions.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year: 2024.
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia eGRC Market Outlook
• Market Size of Australia eGRC Market, 2024
• Forecast of Australia eGRC Market, 2031
• Historical Data and Forecast of Australia eGRC Revenues & Volume for the Period 2021-2031
• Australia eGRC Market Trend Evolution
• Australia eGRC Market Drivers and Challenges
• Australia eGRC Price Trends
• Australia eGRC Porter's Five Forces
• Australia eGRC Industry Life Cycle
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Component for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Software for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Services for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Vertical for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By BFSI for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Healthcare for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Government for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Energy & Utilities for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Manufacturing for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Retail & Consumer Goods for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Telecom & IT for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Others for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Deployment Model for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Cloud-based for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By On-premise for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Organization size for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Large Enterprise for the Period 2021-2031
• Historical Data and Forecast of Australia eGRC Market Revenues & Volume By Small & Medium Enterprise for the Period 2021-2031
• Australia eGRC Import Export Trade Statistics
• Market Opportunity Assessment By Component
• Market Opportunity Assessment By Vertical
• Market Opportunity Assessment By Deployment Model
• Market Opportunity Assessment By Organization size
• Australia eGRC Top Companies Market Share
• Australia eGRC Competitive Benchmarking By Technical and Operational Parameters
• Australia eGRC Company Profiles
• Australia eGRC Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Component

• Software
• Services

By Vertical

• BFSI
• Healthcare
• Government
• Energy & Utilities
• Manufacturing
• Retail & Consumer Goods
• Telecom & IT
• Others

By Deployment Model

• Cloud-Based
• On-Premise

By Organization Size

• Large Enterprise
• Small & Medium Enterprise