Global Compliance Management Software Market 2023 Thrives on Cloud Adoption and Increasing Regulatory Requirements
Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) — The “Global Compliance Management Software Market 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global compliance management software market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 11.2% during the forecast period.
Compliance management software plays a pivotal role in helping organizations manage their compliance obligations efficiently. This software streamlines compliance processes, offers real-time monitoring of compliance risks, and enables organizations to proactively address compliance issues.
The market’s growth is attributed to several key factors, including increasing regulatory compliance requirements, the imperative for effective risk management, rising adoption of cloud-based compliance solutions, and significant investments in compliance solution providers.
Key Factors Driving Market Growth:
- Increasing Regulatory Compliance Requirements: Evolving regulations across industries necessitate robust compliance management systems to avoid legal and financial penalties.
- Cloud-Based Solutions Adoption: Organizations are increasingly turning to cloud-based compliance management software for scalability, flexibility, and cost-effectiveness.
- Investment in Compliance Solutions: Growing investments in compliance solution providers further drive market growth, enhancing software capabilities.
Segmental Outlook:
The global compliance management software market is segmented based on deployment, software type, and vertical.
- Deployment: The market includes both cloud and on-premises solutions. Cloud-based solutions are gaining prominence due to their flexibility and accessibility.
- Software Type: Segments include regulatory compliance management, corporate compliance management, and others. Regulatory compliance management holds a prominent market share due to its critical role in various industries.
- Verticals: The Banking, Financial Services, and Insurance (BFSI) sub-segment is anticipated to witness significant growth, primarily driven by the need for regulatory compliance and protection against financial crimes.
Regional Insights:
The global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Middle East & Africa, and Latin America).
- North America: Expected to hold a significant share in the global market due to regulatory requirements like the Sarbanes-Oxley Act and HIPAA.
- Asia-Pacific: Anticipated to experience substantial growth, driven by the automation trend in compliance processes.
Key Market Players:
Prominent companies in the global compliance management software market include Aras Corp., Arena Solutions, Inc., Broadcom Inc., Check Point, Dell Inc., Exterro Inc., IBM Corp., MasterControl Inc., MetricStream Inc., NAVEX Global Inc., NTT Group, Onit Inc., Oracle Corp., Pilgrim Quality Solutions Inc., Resolver Inc., SAI Global, SAP SE, Software AG, Sparta Systems Inc., Thomson Reuters Corp., and Wolters Kluwer, among others.
The Report Covers:
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global compliance management software market.
- Analysis of business strategies, market-entry, and expansion strategies.
- Competitive strategies identifying market positioning.
Key Topics Covered:
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rxvp9b
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