Global Regulatory Compliance Market Report 2024: Size, Drivers, And Top Segments
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What is the Expected Growth Rate of the Regulatory Compliance Market from 2024 to 2033?
The regulatory compliance market has shown strong growth, expected to grow from $19.44 billion in 2023 to $21.16 billion in 2024 at a CAGR of 8.8%. Factors include increased regulatory scrutiny, enhanced reporting standards, expanded legal frameworks, industry standards emergence, and heightened public awareness.
The regulatory compliance market is expected to grow significantly, projected to reach $30.17 billion by 2028 at a CAGR of 9.3%. Growth is attributed to expanding compliance standards, rising enforcement actions, adoption of regtech solutions, globalization challenges, and demand for transparent governance. Major trends include regulatory complexity, continuous monitoring, collaboration, focus on ethical governance, and AI-powered compliance.
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What Key Factors Are Fueling the Growth of the Regulatory Compliance Market?
The increase in fraudulent activities is likely to boost the regulatory compliance market. Such activities involve deceptive practices aimed at securing unlawful gains, spurred by a greater reliance on digital technologies and evolving criminal tactics. Regulatory compliance helps combat fraud by establishing standards and oversight to deter illicit behavior. A January 2024 report from the Identity Theft Resource Center highlighted 3,205 publicly reported data compromises in 2023, affecting over 353 million individuals, representing a significant increase from previous years. Thus, the rise in fraudulent activities is driving the regulatory compliance market.
What Are the Major Segments of the Regulatory Compliance Market?
1) By Type: Service; Software
2) By Application: Large Enterprises; Small And Medium Enterprises (SMEs)
3) By End Users: Information and Communication Technology (ICT); Construction And Engineering; Mining; Retail; Healthcare; Transportation And Logistics; General Manufacturing; Banking, Financial Services, and Insurance (BFSI); Other End Users
What New Trends Are Transforming the Regulatory Compliance Market?
Key players in the regulatory compliance market are creating advanced solutions like supply chain software to help clients meet compliance requirements. E2open Parent Holdings Inc. launched the Supply Network Discovery application in April 2024, enhancing risk identification and compliance in supply networks.
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Which Regions Are Driving Growth in the Regulatory Compliance Market?
North America the largest region in the regulatory compliance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory compliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Regulatory Compliance Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the regulatory compliance market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Regulatory Compliance Market Include
1. Regulatory Compliance Market Executive Summary
2. Regulatory Compliance Market Segments
3. Regulatory Compliance Market Size And Template Market Growth Rate
4. Key Regulatory Compliance Market Trends
5. Major Regulatory Compliance Market Drivers
……
25. Key Mergers And Acquisitions In The Regulatory Compliance Market
26. Top Regulatory Compliance Companies
27. Regulatory Compliance Market Opportunities And Strategies
28. Regulatory Compliance Market, Conclusions And Recommendations
29. Appendix
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