Some of the factors that are driving the market growth include an increase in stringent compliance mandates, integration of AI, ML, and blockchain technologies in GRC solutions, and growth in data and security breaches.
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However, varying structures of regulatory policies are expected to hinder market growth.
• By Solutions, Risk management to account for a larger market size during the forecast period
Risk management solutions include incident management, IT risk, operational risk, vendor risk/third-party risk, cyber risk, business continuity management, and disaster recovery.Risk management solutions are expected to grow at the highest CAGR during the forecast period.
The execution of risk management strategies is very important for SMEs and large organizations.Due to the increasing complexities in business, it is very important for organizations to enable risk management solutions to understand their risk exposure and manage…
