An all-inclusive Governance, Risk Management and Compliance (GRC) Data Classification report includes a range of inhibitors as well as driving forces of the market which are analyzed in both qualitative and quantitative approach so that readers and users get precise information and insights about Governance, Risk Management and Compliance (GRC) Data Classification industry. Statistical data mentioned in the report is symbolized with the help of graphs which simplifies the understanding of facts and figures. The market report helps define commerce strategies to the businesses of small, medium as well as large size. The analysis and estimations conducted via the finest Governance, Risk Management and Compliance (GRC) Data Classification business report help to get an idea about the product launches, future products, joint ventures, marketing strategy, developments, mergers and acquisitions and effect of the same on sales, marketing, promotions, revenue, import, export, and CAGR values.

The market insights underlined in the steadfast Governance, Risk Management and Compliance (GRC) Data Classification marketing report simplifies managing marketing of goods and services effectively. Here, market overview is given in terms of drivers, restraints, opportunities and challenges where each of this parameter is studied scrupulously. All the data and statistics provided in this market report are backed up by latest and proven tools and techniques such as SWOT analysis and Porter's Five Forces Analysis. With the latest and updated market insights mentioned in the report, businesses can concentrate to enhance their marketing, promotional and sales strategies. An imperative Governance, Risk Management and Compliance (GRC) Data Classification report is a wonderful guide for an actionable ideas, enhanced decision-making and better business strategies.

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 reach USD 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.

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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.

Key Growth 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.

The report outlines the involvement of key players, including:

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.K.), 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)

Key Market Segmentation

By Component (Solutions, 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)

 

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