E-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%.
January 2018, FIS emerged as a new cards platform provider for Australia’s ME Bank. FIS, a leading solution provider for financial services, has been selected as a new card platform provider by ME bank based in Australia. FIS will offer a new platform for debit and credit cards which also includes producing cards , managing and billing transactions.
June 2017, Thomson Reuters and NSDL e governance signed Memorandum of Understanding to provide solution for GST. In order to provide the smooth calculation and filling of tax returns under the new tax regime GST Thomson reuters, a leading solution provider for businesses and professional and NSDL e-governance of India have collaborated to form Thomson Reuters ONESOURCE determination solution, for value added services for professional and MSME segments.
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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.
E-governance Market Global Market – Segmentation
Segmentation by Component: Software, Services and Others
- Segmentation by Solutions: Audit Management, Compliance management, Financial controls management and Policy Management.
- Segmentation by Deployment Type: Cloud and On-Premises and Others
- Segmentation by Service: Consulting and training, Integration and Support
- Segmentation by Region: North America, Europe, Asia Pacific, Rest of the World.
The regional analysis of E-governance Market is being studied for region such as Asia pacific, North America, U.K, Europe and Rest of the World. Oracle Corporation (US), is leading in this market, where, Oracle Fusion Governance, Risk, and Compliance (GRC), facilitates a complete enterprise GRC platform for the customer convenience. Along with this some of the other company including SAP SE (Germany), Microsoft Corporation (US), have already implemented this kind of platform. The SAP SE has initiated to changes in business economy, governance regulations, risk, and compliance (GRC) that strengthen the business. These companies also automate the e-governance functions that synchronize with the existing processes.
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- 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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