target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: Market Forecast - Doc Document number: # US51935824
Worldwide Security Governance, Risk, and Compliance Software Forecast, 2024–2028
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Abstract
This IDC study presents a five-year forecast and contains IDC's best estimate for the security governance, risk, and compliance (GRC) software market for the 2023–2028 period. In addition, this study discusses the drivers and dynamics that had an impact on the global security governance, risk, and compliance software market in 2022 and provides insight into future trends that may influence market demand over the 2023–2028 period.
"GRC software continues to be a top investment area for organizations," says Phil Harris, research director, Governance, Risk, and Compliance, IDC. "Both IT and the business are gaining clarity about the ever-changing cyberattack environment and the critical impact to the viability of their organizations and need to continue to prioritize cybersecurity as a mandate and keep senior management and the board informed as to the status of the program. While the overall cybersecurity GRC market has experienced strong growth over the past several years and while budgets are tightening, organizations continue to see value in these services and solutions, which is evidenced in continued investment. CISOs must step up their game in executive and board settings to engage them in constructive dialog that has then become contributors to the direction of cybersecurity rather than passively listening."