"Governance, Risk Management and Compliance (GRC) Data Classification Market Size And Forecast by 2031

Data Bridge Market Research analyses that the Global Governance, Risk Management and Compliance (GRC) Data Classification Market which was USD 50315.58 Billion in 2022 is expected to reach USD 60490.3 Million by 2030 and is expected to undergo a CAGR of 14.10% during the forecast period of 2022 to 2030

Governance, Risk Management and Compliance (GRC) Data Classification Market research report provides a comprehensive analysis of the market. The report aims to provide insights into Governance, Risk Management and Compliance (GRC) Data Classification Market trends, growth opportunities, key drivers and challenges, competitive landscape, and other crucial factors that may impact the market in the forecast period (2024-2031).

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 Which are the top companies operating in the Governance, Risk Management and Compliance (GRC) Data Classification Market?

The study report on the Global Governance, Risk Management and Compliance (GRC) Data Classification Market offers a comprehensive analysis of the industry, highlighting key trends, market dynamics, and competitive landscape. It profiles prominent organizations operating in the market, examining their successful strategies and market share contributions. This Governance, Risk Management and Compliance (GRC) Data Classification Market report provides the information of the Top 10 Companies in Governance, Risk Management and Compliance (GRC) Data Classification Market in the market their business strategy, financial situation etc.

**Segments**

- **By Component**
- **Solutions**
- **Services**

- **By Application**
- **Access Control**
- **Data Loss Prevention**
- **Incident Response**
- **Others**

- **By Vertical**
- **Banking, Financial Services, and Insurance (BFSI)**
- **Healthcare**
- **IT and Telecom**
- **Government**
- **Others**

**Market Players**

- **IBM**
- **Microsoft**
- **Symantec Corporation**
- **RSA Security LLC**
- **Micro Focus**
- **Check Point Software Technologies Ltd.**
- **Trend Micro Inc.**
- **Digital Guardian**
- **Forcepoint**

The global Governance, Risk Management, and Compliance (GRC) data classification market is segmented based on components, applications, and verticals. In terms of components, the market is divided into solutions and services. Solutions encompass software tools that facilitate data classification, while services include consulting, integration, and support services. By application, the market is categorized into access control, data loss prevention, incident response, and others. Access control solutions manage user access to classified data, while data loss prevention technologies prevent unauthorized data leakage. Incident response tools assist organizations in addressing security incidents promptly. In vertical segmentation, the market caters to industries such as Banking, Financial Services, and Insurance (BFSI), healthcare, IT and telecom, government, among others.

Major market players in the Global GRC Data Classification Market include IBM, Microsoft, Symantec Corporation, RSA Security LLC, Micro Focus, Check Point Software Technologies Ltd., Trend Micro Inc., Digital Guardian, and Forcepoint. These companies offer a wide range of data classification solutions and services to help organizations manage governance, risk, and compliance effectively. IBM and Microsoft are well-known for their comprehensive GRC platforms that integrate data classification capabilities. Symantec Corporation and RSA Security LLC specialize in cybersecurityThe global Governance, Risk Management, and Compliance (GRC) data classification market is experiencing significant growth due to the increasing focus on data security and regulatory compliance across various industries. The market is driven by the growing adoption of data classification solutions to address the rising cyber threats and data breaches that can have severe financial and reputational implications for organizations. As businesses continue to digitize their operations and collect vast amounts of sensitive data, the need for robust GRC data classification tools becomes paramount to protect critical information and ensure compliance with data privacy regulations.

The solutions segment of the GRC data classification market includes software tools that enable organizations to classify, label, and protect their data according to its sensitivity and importance. These solutions typically offer features such as automated data discovery, classification algorithms, policy enforcement, and integration with existing security infrastructure. As data volumes continue to grow exponentially, organizations are increasingly turning to data classification solutions to gain better visibility and control over their data assets, reduce the risk of data breaches, and demonstrate compliance with regulatory requirements.

The services segment of the market comprises consulting, integration, and support services that assist organizations in implementing and optimizing data classification solutions. Consulting services help organizations assess their data classification needs, develop custom data classification policies, and deploy the right set of tools to meet their specific requirements. Integration services ensure seamless integration of data classification solutions with existing IT systems and security controls, while support services provide ongoing technical assistance and maintenance to ensure the effectiveness and reliability of data classification implementations.

In terms of applications, access control and data loss prevention are key use cases for data classification solutions. Access control tools enable organizations to restrict access to sensitive data based on the user's role, permissions, and security clearance. By implementing granular access controls and encryption mechanisms, organizations can prevent unauthorized access to confidential information and reduce the risk of insider threats. Data loss prevention technologies play a crucial role in monitoring and preventing the unauthorized exfiltration of data through various channels, such as email, removable storage devices, and cloud applications.**Market Players:**

- 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)

The global Governance, Risk Management, and Compliance (GRC) data classification market is witnessing substantial growth driven by the escalating focus on data security and regulatory compliance not just in traditional industries like BFSI, healthcare, and government but also across emerging sectors. The market is compelled by the growing necessity for data classification solutions to combat the surging cyber threats and data breaches that pose significant risks to organizations' finances and reputations. As companies increasingly digitalize their operations and accumulate vast amounts of sensitive data, there is a critical need for robust GRC data classification tools to safeguard crucial information and ensure conformity with stringent data protection regulations.

Data classification solutions play a pivotal role in assisting organizations in categorizing, labeling, and safeguarding their data based on its sensitivity and significance. These solutions typically offer features like automated data discovery, classification algorithms, policy enforcement,

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Regional Analysis For Governance, Risk Management and Compliance (GRC) Data Classification Market

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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  • Get a clear understanding of the Governance, Risk Management and Compliance (GRC) Data Classification Market, how it operates, and the various stages of the value chain.
  • Understand the current market situation and future growth potential of the Governance, Risk Management and Compliance (GRC) Data Classification Market throughout the forecast period.
  • Strategize marketing, market-entry, market expansion, and other business plans by understanding factors influencing growth in the market and purchase decisions of buyers.
  • Understand your competitors’ business structures, strategies, and prospects, and respond accordingly.
  • Make more informed business decisions with the help of insightful primary and secondary research sources.

This report provides Global Governance, Risk Management and Compliance (GRC) Data Classification Market :

  1. An in-depth overview of the global market for
  2. Governance, Risk Management and Compliance (GRC) Data Classification Market Assessment of the global industry trends, historical data from 2015, projections for the coming years, and anticipation of compound annual growth rates (CAGRs) by the end of the forecast period.
  3. Discoveries of new market prospects and targeted marketing methodologies for Global Governance, Risk Management and Compliance (GRC) Data Classification Market
  4. Discussion of R&D, and the demand for new products launches and applications.
  5. Wide-ranging company profiles of leading participants in the industry.
  6. The composition of the market, in terms of dynamic molecule types and targets, underlining the major industry resources and players.
  7. The growth in patient epidemiology and market revenue for the market globally and across the key players and Governance, Risk Management and Compliance (GRC) Data Classification Market segments.
  8. Study the market in terms of generic and premium product revenue.
  9. Determine commercial opportunities in the market sales scenario by analyzing trends in authorizing and co-development deals.

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