Policy Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Policy Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • January 2022 •
  • 145 pages •
  • Report ID: 6223565 •
  • Format: PDF
The global policy management software market reached a value of US$1.33 Billion in 2021. Looking forward, the analyst expects the market to reach US$3.04 Billion by 2027, exhibiting a CAGR of 13.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Policy management software refers to the technological solution used for creating, communicating and maintaining organizational policies and procedures. It enables the enterprises to centralize policies, optimize stakeholder involvement and transfer information efficiently. The software is commonly used for document review and approval, automated reminder notifications, electronic approval signatures and document versioning and revision tracking. It aids in enhancing the accessibility of the policies and protecting the enterprise from litigations and financial risks. The software can be deployed through the web or on the cloud that provides additional security for sensitive documents and data. As a result, it is widely used across various industries, such as banking, financial services and insurance (BFSI), information technology (IT), energy, healthcare, manufacturing and retail.

Policy Management Software Market Trends:
Significant growth in the healthcare industry across the globe is one of the key factors creating a positive outlook for the market. As the coronavirus disease (COVID-19) continues to spread, there has been a substantial increase in the demand for efficient information management solutions across the medical centers. Small, medium and large-scale enterprises are also widely adopting policy management software to monitor employee performance and record risk impact for policy exemption. It is also utilized for automating the management of new regulations and policies and enhancing the overall organizational efficiency. Additionally, the increasing implementation of machine-to-machine communications is acting as another growth-inducing factor. Service providers are also integrating various value-added services with the software application programming interface (API) for document access controls and policy status reporting. Other factors, including extensive improvements in the IT infrastructure, along with the increasing adoption of subscriber data management solutions, are anticipated to drive the market toward growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global policy management software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market component, deployment model, enterprise size and industry vertical.

Breakup by Component:
Solution
Services

Breakup by Deployment Model:
On-premise
Cloud-based

Breakup by Enterprise Size:
Large Enterprises
Small and Medium-sized Enterprises

Breakup by Industry Vertical:
BFSI
IT and Telecom
Energy and Utilities
Healthcare
Government and Defense
Manufacturing
Retail
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alcatel-Lucent Enterprise International SAS (China Hoaxin Post and Telecom Technologies Co. Limited), Amdocs Inc., Cisco Systems Inc., Comarch SA, ConvergePoint Inc., Huawei Technologies Co. Ltd., Intracom S.A. Telecom Solutions, Juniper Networks Inc., Nokia Corporation, Optiva Inc., Oracle Corporation and Telefonaktiebolaget LM Ericsson.

Key Questions Answered in This Report:
How has the global policy management software market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global policy management software market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment model?
What is the breakup of the market based on the enterprise size?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global policy management software market and who are the key players?
What is the degree of competition in the industry?