The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Market Growth

• The regulatory compliance management software market has expanded significantly, growing from $10.06 billion in 2023 to $11.18 billion in 2024, with a CAGR of 11.1%.
• This growth is attributed to increased regulatory scrutiny, the surge in data volume, higher penalties for non-compliance, rising cybersecurity threats, and a growing demand for transparency.

Future Market Projections

• The market is expected to continue its rapid growth, reaching $17.11 billion by 2028, with a CAGR of 11.2%.
• Key drivers in the forecast period include the rising adoption of cloud-based solutions, increasing investments in AI, heightened awareness of the financial impact of non-compliance, and an enhanced focus on risk management.
• Trends shaping the future include the incorporation of artificial intelligence, cloud-based solutions, mobile accessibility, real-time monitoring, and ongoing technological advancements.

Safeguarding Against Data Breaches

Importance of Compliance Software

• The escalating risk of data breaches is a significant factor driving the market.
• Regulatory compliance management software helps organizations mitigate cyber threats by ensuring compliance, managing risks, enforcing security policies, and improving incident response.
• For example, in 2022, the Australian Cyber Security Centre reported a 13% increase in cybercrime incidents, highlighting the critical need for robust compliance management solutions.

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Key Players and Innovations

Major Market Players

• Leading companies include Microsoft Corporation, IBM, Oracle Corporation, SAP SE, Deloitte, Thomson Reuters, Wolters Kluwer, Qualys, Appian Corporation, and MetricStream, among others.

AI in Compliance Management

• Companies are integrating AI-powered regulatory change management (RCM) solutions to stay ahead of regulatory changes and minimize compliance risks.
• For instance, in April 2024, Wolters Kluwer launched OneSumX Reg Manager, an AI-driven solution to help community banks and credit unions in the U.S. manage regulatory changes effectively.

Strategic Acquisitions

Expansion through Acquisitions

• In October 2021, Orion Advisor Solutions acquired BasisCode Compliance to enhance its regulatory compliance capabilities.
• This acquisition strengthens Orion’s position as a provider of technology solutions, particularly in the financial services sector.

Market Segmentation and Regional Insights

Market Segmentation

• The market is segmented by offerings into solutions and services.
• Deployment types include on-premises and cloud-based options.
• Organizations are categorized by size into small and medium enterprises (SMEs) and large enterprises.
• End-user sectors include ICT, construction, engineering, mining, retail, healthcare, logistics, general manufacturing, BFSI, media, and entertainment.

Regional Insights

• North America was the largest region in the regulatory compliance management software market in 2023, driven by stringent regulatory frameworks, advanced technological adoption, and a mature market for compliance solutions.

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The Regulatory Compliance Management Software Global Market Report 2024  provides an overview of the regulatory compliance management software market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The regulatory compliance management software market forecast analyzes regulatory compliance management software market size, regulatory compliance management software market share, leading competitor and their market positions.

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