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Market ScenarioE-governance refers as an enterprise solution that are utilized to cover the organizational approach across various sectors that includes Governance, Risk Management and compliance. It is a combination of processes that are executed and established by the top management. These solutions are implemented in the form of compliance to adhere the company’s policies, procedures, and regulations. Moreover, the e-governance is a complex and innovative approach that deals with a concerns related to corporate governance, risk management and compliance issues.
The key driver responsible for the emergence of e-governance as a business imperative in the organization is a growing demand for corporate governance, regulatory requirements and compliance. Increasing use of data, the growing business collaborations, and the government regulations and compliance mandates is also fueling the global market of e-governance market.
The global E-Governance Market is expected to grow from USD 20.82 Billion in 2016 to USD 45.76 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 12.6%.
Industry Updates
May 06, 2019: E-governance Services India Limited has recently tied up with Indian Institute of Technology Kanpur in order to upscale Unnat Bharat Abhiyan. Unnat Bharat Abhiyan is an initiative undertaken by the Ministry of HRD which aims towards finding solutions in order to catalyze a sustainable growth in rural India.
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Key Players:
The prominent players in the E-governance Market are –EMC Corporation (US), Oracle Corporation (US), SAP SE (Germany), Microsoft Corporation (US), Wolters Kluwer N.V (Netherlands), MetricStream Inc. (US), SAS Institute Inc. (US), IBM Corporation (US), Fidelity National Information Services Inc. (US), Thomson and Reuters Corporation (US), among others.
Global E-governance Market: Segmental Analysis
The E-governance market has been segmented on the basis of deployment type, solutions, component, and end users.
By mode of component, the global E-governance market has been segmented into services, software, and others.
The solutions segment comprises compliance management, audit management, policy management, financial controls management, and others.
The market has been segmented into cloud, on-premises, and others as per deployment type.
By mode of end-users, the global E-governance market has been segmented into transportation and logistics, telecom and IT, mining, BFSI, energy and utilities, retail and consumer goods, healthcare, government, and others. Among these, the BFSI and telecom & segments are predicted to acquire the largest market share.
Regional Insights
The regions discussed here spans across North America, Asia Pacific, Europe and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region will secure the top position in the global market. The region is leading the commercial use of E-governance owing to its early implementation in the major sectors. With Canada and the US extensively implementing E-governance solutions in their nations, the region is estimated to witness the highest market share.
The European region showcases a positive growth curve in the expansion of the E-governance market owing to the surging applications of E-governance devices in the commercial sector. Moreover, the Asia Pacific region has established itself as one of the major markets and is showing high adoption of E-governance due to the presence of developing economies like India, China, and Japan.
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Intended Audience
• System Security
• E-governance solution and service providers
• Governance, Risk Management, Compliance (GRC) staff
• Information security directors/managers
• IT directors/consultants
• E-governance instrument
• Research organizations
• Technology investors
• IT governance directors/managers
• IT risk directors/managers
• IT compliance directors/managers
• IT audit directors/managers
• Raw material and manufacturing equipment suppliers
• Research/Consultancy firms
• Analysts and strategic business planners
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Release ID: 524379