The regulatory compliance market has seen considerable growth due to a variety of factors.
• The regulatory compliance market has grown considerably in recent years. It is expected to rise from $21.16 billion in 2024 to $23.18 billion in 2025, with a compound annual growth rate (CAGR) of 9.5%.
This expansion is driven by increased regulatory scrutiny, enhanced reporting standards, the emergence of industry norms, and growing public awareness.
The regulatory compliance market is expected to maintain its strong growth trajectory in upcoming years.
• The regulatory compliance market is forecast to grow to $32.93 billion by 2029 at a CAGR of 9.2%.
The growth is driven by the expanding scope of compliance standards, regulatory enforcement actions, and the growing adoption of regtech solutions. Trends include increased regulatory complexity, real-time reporting, AI-powered compliance monitoring, and a focus on ethical governance.
The escalation in deceitful practices is anticipated to spur the expansion of the regulatory compliance market. Deceitful practices are willful misleading actions carried out with the aim to gain unjust or illegal advantage or to strip a person of their legitimate right. The growth in these activities can be attributed to the growing dependency on digital technologies, the evolution of criminal strategies, and inconsistencies in regulatory enforcement. Regulatory compliance is crucial in the prevention of such activities as it sets the standards, directives, and supervisory systems that aid in detecting and preventing unauthorized acts, thereby ensuring accountability and transparency in financial dealings. For instance, a report released by the Identity Theft Resource Center (ITRC), a non-profit organization based in the US, mentioned that in January 2024, there were 3,205, publicly reported data breaches in 2023, impacting an estimated 353,027,892 individuals. This reflects a 72% rise compared to the previous highest recorded level and a 78% growth from the incidents reported in 2022. As a result, the escalation in deceitful practices is fueling the expansion of the regulatory compliance market.
The regulatory compliance market covered in this report is segmented –
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
Subsegments:
1) By Service: Consulting Services, Audit And Assessment Services, Training And Certification Services, Risk And Compliance Management Services, Implementation Services, Managed Services
2) By Software: Compliance Management Software, Regulatory Reporting Software, Risk And Audit Management Software, Document Management Software, Governance, Risk, And Compliance (GRC) Software, Data Privacy And Security Compliance Software, Automated Compliance Monitoring Software
The evolution of technologically advanced regulatory compliance solutions is a focal point for leading businesses operating in the regulatory compliance market. One such solution involves the utilization of supply chain software, uniquely designed to not only meet regulatory compliance needs but also to fortify supply assurance. When one mentions Supply Chain Management Software (SCMS), it refers to a distinct software application that streamlines and optimizes supply chain operations, simultaneously ensuring adherence to relevant laws, standards, and industry specifications. An example of this innovation took place in April 2024 when E2open Parent Holdings Inc., an American software corporation, introduced the Supply Network Discovery application. This application was designed to enhance compliance, identify possible risks in multi-tier supply networks proactively, and intensify supply assurance for brand owners. It encompasses multi-tier supply relationship mapping, structured due diligence engagement, traceability, and partner impact analysis capabilities. These options avail brand owners with a detailed understanding of their supply networks, thereby improving compliance and boosting supply assurance. The primary purpose of this trailblazing solution is to present brand owners with a thorough overview of their international supply ecosystems, supporting compliance, cooperation, and risk curtailment.
Major companies operating in the regulatory compliance market are:
• Microsoft Corporation
• Dell Technologies Inc.
• International Business Machines Corporation
• Deloitte Touche Tohmatsu Limited
• Oracle Corporation
• DNV GL AS
• Grant Thornton International Ltd.
• Thomson Reuters Corporation
• Baker Tilly International
• SAS Institute Inc.
• Wolters Kluwer N.V.
• UL Solutions Inc.
• Norton Rose Fulbright LLP
• Ramboll Group A/S
• Protiviti Inc.
• Lloyd's Register Quality Assurance Limited
• Sphera Solutions Inc.
• MetricStream Inc.
• Cority Software Inc.
• Sparta Systems Inc.
• Enablon
• EtQ LLC
• MasterControl Inc.
• Assent Compliance Inc.
• 3E Company
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.