What Has Been The Evolution of the Regulatory Compliance Management Software Market in Recent Years?
The regulatory compliance management software market has seen considerable growth due to a variety of factors.
• The regulatory compliance management software market has experienced rapid growth recently. It will rise from $11.18 billion in 2024 to $12.46 billion in 2025, at a compound annual growth rate (CAGR) of 11.5%.
The market’s growth is attributed to stronger regulatory oversight, larger data volumes, increased penalties for non-compliance, rising cybersecurity threats, and growing demand for transparency.
What Are the Future Growth Projections for the Regulatory Compliance Management Software Market?
The regulatory compliance management software market is expected to maintain its strong growth trajectory in upcoming years.
• The regulatory compliance management software market is expected to reach $19 billion by 2029 at a CAGR of 11.1%.
The growth is attributed to the rising adoption of cloud-based solutions, investments in AI, and a growing awareness of the financial impact of non-compliance. Trends include AI integration, real-time monitoring, and mobile accessibility.
What Are The Core Factors Supporting Growth In The Regulatory Compliance Management Software Market?
Rising data breach risks are predicted to fuel the expansion of the regulatory compliance management software market in the future. Data breaches are malicious activities aimed at disrupting or accessing computer systems or networks without authorization. The risk of data breaches stems from desires for financial gain, inadequate cybersecurity capabilities, and a lack of cybersecurity professionalism. Regulatory compliance management software aids businesses in alleviating the increasing danger of cyber threats by ensuring regulatory compliance, managing risks effectively, implementing security procedures, aiding in incident management, and promoting cybersecurity knowledge among staff. For example, the Australian Cyber Security Centre reported in February 2023 that the number of cybercrime reports received in 2022 had increased by 13% to 76,000 compared to the previous year. Moreover, Parachute Technology, a US-based IT solutions firm, reported in April 2024 that government agencies had encountered 49 cyber incidents in the first half of 2023, an 11% increase from 2022. As a result, the escalating risk of cyberattacks propels the development of the regulatory compliance management software market.
What Are The Major Segments Within The Global Regulatory Compliance Management Software Market?
The regulatory compliance management software market covered in this report is segmented –
1) By Offerings: Solutions, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End Users: Information And Communications Technology, Construction And Engineering, Mining, Retail, Healthcare, Transportation And Logistics, General Manufacturing, Banking, Financial Services, And Insurance, Media And Entertainment, Other End-Users
Subsegments:
1) By Solutions: Compliance Monitoring Solutions, Risk Management Solutions, Audit Management Solutions, Policy Management Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services
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Which Emerging Market Trends Are Altering The Regulatory Compliance Management Software Industry?
Companies in the regulatory compliance management software sector are capitalizing on AI-powered regulatory technology (RegTech) ecosystems to manage regulatory changes, lessen compliance risks, and ensure continued compliance with changing regulatory norms. This AI-powered regulatory change management (RCM) system utilizes artificial intelligence to methodically supervise, scrutinize, and decode regulatory modifications from a myriad of sources such as government bodies, industry journals, and legal databases. For instance, Wolters Kluwer N.V., a software firm based in the Netherlands, in April 2024, rolled out OneSumX Reg Manager. This AI-powered tool assists US community banks and credit unions to optimize their strategies in handling regulatory adaptations. The platform provides an all-encompassing workflow capability to supervise, track, implement and exhibit compliance with significant state and federal regulations. It features automated regulatory content feeds that are structured, AI-integrated source libraries and updates, and the functionality to map and keep track of regulatory evolutions to lessen compliance dangers.
Who Are the Key Players In The Regulatory Compliance Management Software Market?
Major companies operating in the regulatory compliance management software market are:
• Microsoft Corporation
• International Business Machines Corporation
• PricewaterhouseCoopers LLP
• Oracle Corporation
• SAP SE
• Deloitte Touche Tohmatsu Limited
• Thomson Reuters Corporation
• Wolters Kluwer NV
• Qualys Inc.
• Appian Corporation
• Diligent Corporation
• NAVEX Global Inc.
• MetricStream Inc.
• Galvanize Inc.
• Intelex Technologies Inc.
• Verse Solutions
• Sparta Systems Inc.
• MasterControl Inc.
• Resolver Inc.
• BMI SYSTEM
• Convercent Inc.
• AssurX Inc.
• BWise
• ProcessGene Ltd.
• LogicManager Inc.
• Reciprocity Inc.
• Quantivate LLC
What Is The Most Dominant Region In The Regulatory Compliance Management Software Market?
North America was the largest region in the regulatory compliance management software market in 2024. The regions covered in the regulatory compliance management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
