What is Policy Management Software Market?
The global policy management software market is expected to grow at a moderate pace during the forecast period, according to the AMA study. Rising demand for automation in policy management operations and increasing demand for consistency in workflow management are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Highlights from Policy Management Software Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Adaptik Corporation (United States), Amazon Web Services, Inc. (United States), Cisco Systems, Inc. (United States), ConvergePoint Inc. (United States), Deltek, Inc. (United States), HelpSystems (United States), IBM (United States), MCN Healthcare (United States), MITRATECH (United States), NETconsent Ltd. (United Kingdom), Onspring Technologies, LLC (United States), Oracle (United States), PM AM Corporation (United States) and Termageddon, LLC (United States) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Policy Management Software market throughout the forecasted period.
Adaptik Corporation (United States), Amazon Web Services, Inc. (United States), Cisco Systems, Inc. (United States), ConvergePoint Inc. (United States), Deltek, Inc. (United States), HelpSystems (United States), IBM (United States), MCN Healthcare (United States), MITRATECH (United States), NETconsent Ltd. (United Kingdom), Onspring Technologies, LLC (United States), Oracle (United States), PM AM Corporation (United States) and Termageddon, LLC (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are EBaoTech (China). Policy Management Software Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Approval Process Control, Attestation, Audit Trails, Policy Creation, Policy Library, Policy Metadata Management, Policy Training, Reporting & Analytics, Version Control, Workflow Management and Others |
Type | On-Premise, Cloud Based, Web Based and Software-as-a-Service (SaaS) |
Enterprise SIze | SMEs,Large Enterprises |
Platform | Windows,IOS/MAC,Android,Others |
End Use | IT & Telecom,Marketing & Advertising,Hospitality,Education,Financial Services,Automotive,Transportation & Logistics,Others |
On the basis of geography, the market of Policy Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Secure API (Application Programming Interface) Networks with Third Parties and Introduction to Session Based and Dynamic Access Control
Market Growth Drivers:
Rising Demand for Automation in Policy Management Operations and Increasing Demand for Consistent Workflows
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
Integration Complexities and Development Implications Related to Policy Management Software and Availability of Open Source Platforms
Opportunities:
Increasing Awareness for Generating Better Customer Relationships and Opportunities in the Asia Pacific Region
Key Target Audience
Policy Management Software Developers, Policy Management Software Vendors, Policy Management Industry Associations, Government Agencies, Research and Development Institutes, Internet Infrastructure Providers and Others
On 29 May 2018, NETconsent, a software vendor of compliance and communications software, has signed a distribution agreement with Nanjgel, one of UAE’s emerging resellers, to expand the availability of its products in the UAE market. NETconsent is one of the market leaders in Compliance Automation as a Platform, and deals with policy management and training, streamlining and automating. This agreement will add significant value to the respective customers in the UAE,
Stringent Government Regulations Regarding Closing of Companies Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Policy Management Software
Analyst Comment
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the policy management software market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.