Governance, Risk Management and Compliance (GRC) Data...

Governance, Risk Management and Compliance (GRC) Data Classification Market : Trends, Share, Industry Size, Growth, Demand, Opportunities and Global Forecast

Сообщение 2024-05-06 08:41:54

The market analysis and insights included in the credible Governance, Risk Management and Compliance (GRC) Data Classification Market report presents key statistics on the market status of global and regional manufacturers and is an essential source of guidance which provides right direction to the companies and individuals interested in the industry. Analysis of upstream raw materials, downstream demand, and current market dynamics is also performed here. It also strategically analyses the growth trends and future prospects. This market research report uses a range of steps for collecting, recording, analysing and interpreting market data to make Governance, Risk Management and Compliance (GRC) Data Classification Market report all-inclusive.

Governance, Risk Management and Compliance (GRC) Data Classification Market analysis report provides market data even by considering new product development from beginning to launch. This report is a promising, excellent, pioneering, client-centric, and trustworthy which fulfils client’s business needs. The report provides strategically analyzed market research analysis and observant business insights into the most relevant markets of the clients. The high quality Governance, Risk Management and Compliance (GRC) Data Classification Marketing report comprises of the market drivers and restraints which are derived from SWOT analysis and also provides all the CAGR projections for the historic year 2021, base year 2022, and forecast period of 2023-2030.

Explore Further Details about This Research Governance, Risk Management and Compliance (GRC) Data Classification Market Report https://www.databridgemarketresearch.com/reports/global-governance-risk-management-and-compliance-grc-data-classification-market

Increasing data privacy and security regulations, growing concerns over data breaches and cybersecurity, and need for effective risk management and compliance are the drivers for global governance, risk management, and compliance (GRC) data classification market. Adoption of artificial intelligence and machine learning, integration with cloud and big data technologies and expansion into industry-specific applications are the expected opportunities for the global governance, risk management, and compliance (GRC) data classification market.

Data Bridge Market Research analyses that the global governance, risk management and compliance (GRC) data classification market which was USD 50,315.58 million in 2022, and is expected to reachUSD 12,20,742.47 million by 2030, and is expected to undergo a CAGR of 14.1% during the forecast period of 2023 to 2030. “Solutions” dominates the component segment of the global governance, risk management and compliance (GRC) data classification market due to data classification solutions are essential components of GRC frameworks, which help organizations effectively manage risks and ensure compliance with regulations and industry standards. These solutions provide the necessary tools and functionalities to classify and categorize data based on its sensitivity, confidentiality, and regulatory requirements. By organizing and labeling data, organizations can gain better visibility and control over their data assets, facilitating risk assessment and compliance management processes. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

The governance, risk management, and compliance (GRC) data classification market refers to the market for solutions, services, and technologies that enable organizations to effectively classify, categorize, and manage their data in alignment with GRC frameworks. It encompasses a range of software applications, platforms, and services designed to assist organizations in identifying, classifying, and protecting sensitive data based on its risk level, regulatory requirements, and business needs. GRC data classification solutions provide organizations with the tools and capabilities to systematically analyze, categorize, and label their data assets, taking into consideration factors such as data sensitivity, confidentiality, integrity, and compliance requirements. These solutions utilize advanced technologies, including machine learning, natural language processing, and data analytics, to automate the process of data classification and ensure consistent and accurate categorization.

Drivers

Increasing Data Privacy and Security Regulations

The proliferation of data privacy and security regulations, such as the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA), is a major driver for the GRC data classification market. Organizations are required to classify and protect sensitive data to ensure compliance with these regulations. GRC data classification solutions help organizations meet regulatory requirements by providing the necessary tools and capabilities to identify, classify, and secure sensitive data.

Growing Concerns over Data Breaches and Cybersecurity

The rising frequency and impact of data breaches have highlighted the importance of effective data classification and protection. Organizations are increasingly aware of the potential risks associated with data breaches, including financial losses, reputational damage, and regulatory penalties. GRC data classification solutions assist organizations in mitigating these risks by enabling them to identify and classify sensitive data, apply appropriate security controls, and monitor data access and usage.

Need for Effective Risk Management and Compliance

Effective risk management and compliance are essential for organizations to maintain trust, meet stakeholder expectations, and avoid legal and financial consequences. GRC data classification solutions play a crucial role in risk management and compliance by helping organizations identify and assess data-related risks, prioritize mitigation efforts, and establish robust controls based on the classification of data. These solutions enable organizations to demonstrate compliance with regulatory requirements and industry standards, fostering a culture of governance and risk awareness.

Recent Developments

In January 2023, RSA Security LLC, the former cyber security division of Dell Technologies, is reportedly considering the sale of its risk and compliance software unit, Archer, for a sum exceeding USD 2 billion. The potential sale is being facilitated through an auction process managed by investment banks Morgan Stanley and Goldman Sachs. Archer, which generated USD 220 million in revenue last year and has been profitable, has attracted interest from various companies and private equity firms. The sale of Archer follows RSA's previous acquisition by private equity firm Symphony Technology Group, Ontario Teachers' Pension Plan, and Carlyle Group's investment arm in 2020 for USD 2.075 billion. RSA, Morgan Stanley, and Goldman Sachs declined to comment on the matter.
In July 2017, Veritas Technologies introduced the Integrated Classification Engine, a new technology that offers intelligent data management solutions across its portfolio. The engine provides organizations with enhanced visibility into unstructured data, enabling them to identify and manage sensitive or risky information effectively. The technology helps companies meet compliance regulations and data protection requirements, including the European Union's General Data Protection Regulation (GDPR). It offers pre-configured patterns and policies for recognizing personal identifiable information (PII) and supports various regulations globally. Veritas Data Insight 6.0 and Enterprise Vault 12.2 are the first solutions to support this classification engine, providing advanced risk detection and intelligence-enriched retention and discovery capabilities.

Global Governance, Risk Management and Compliance (GRC) Data Classification Market Scope

The global governance, risk management and compliance (GRC) data classification market is segmented on the basis of component, methodology and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

Solution
Services

Methodology

Content-Based Classification
Context-Based Classification
User-Based Classification

Vertical

Banking
Financial Services, and Insurance (BFSI)
Healthcare and Life Sciences
Government and Defence
Education
Telecom
Media and Entertainment
Others

Some of the major players operating in the global governance, risk management and compliance (GRC) data classification market are:

IBM (U.S.)
Microsoft Corporation (U.S.)
RSA Security LLC (U.S.)
Symantec Corporation (U.S.)
OpenText Corporation (Canada)
Veritas Technologies LLC (U.S.)
Informatica LLC (U.S.)
Micro Focus International plc (U)
Proofpoint, Inc. (U.S.)
Varonis Systems, Inc. (U.S.)
Spirion LLC (U.S.)
OneTrust, LLC (U.S.)
AvePoint, Inc. (U.S.)
Netwrix Corporation (U.S.)
Titus (Canada)

Get a Sample PDF of Governance, Risk Management and Compliance (GRC) Data Classification Market Research @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-governance-risk-management-and-compliance-grc-data-classification-market

Radical conclusions of the report:

Industry overview with a futuristic perspective
Analysis of production costs and analysis of the industrial chain
Full regional analysis
Benchmarking the competitive landscape
Global Governance, Risk Management and Compliance (GRC) Data Classification Marketgrowth trends; current and emerging
Technological developments and products
Comprehensive coverage of market factors, restraints, opportunities, threats, limitations, and outlook for the Market
SWOT Analysis, Porter's Five Forces Analysis, Feasibility Analysis, and ROI Analysis

Why choose Data Bridge Market Research?

Modern technologies, such as artificial intelligence, to provide updated industry growth.
DBMR team provides clients with the top notch Governance, Risk Management and Compliance (GRC) Data Classification Market research report.
Interaction with research scientists and development heads to understand the nature of the Governance, Risk Management and Compliance (GRC) Data Classification Market more precisely.
24/7 availability of services.
Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.

DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Governance, Risk Management and Compliance (GRC) Data Classification Market size

Browse Related Reports:

About Data Bridge Market Research:

US: +1 614 591 3140
UK: +44 845 154 9652
APAC : +653 1251 975

Email – corporatesales@databridgemarketresearch.com

Войдите, чтобы отмечать, делиться и комментировать!