The Global Compliance Management Software Market Size Was Valued At USD 2.1 Billion In 2022 And Is Expected To Reach USD 74.8 Billion By 2030, Growing At A CAGR Of 10.9% From 2022 To 2030.
Compliance Management Software Market Overview:
Compliance management software is a solution that helps any business/organization design and implement a compliance program. A compliance management system is an integrated system of documents, functions, processes, controls and tools that helps organizations comply with legal requirements and minimize harm to consumers due to violations.
Compliance management software is a program used to continuously track, monitor and audit business processes for compliance with applicable laws, organizational policies, and standards of consumers and business partners. This compliance management software solution executes all risk management and compliance topics in an integrated central ARIS repository for maximum transparency, efficiency, simplicity and control. Compliance management software from Software AG helps reduce total cost of ownership by leveraging existing IT investments. By more easily establishing controls and acceptable levels of risk, this innovative compliance management software makes it easy to align with organizational goals and policies and confidently comply with regulatory requirements.
Compliance Management Software market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Compliance Management Software market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In September 2022, Quantivate LLC, a leader in governance, risk and compliance (GRC) software, announced a new partnership with LexisNexis to provide compliance professionals with the content they need to navigate evolving regulatory changes.
- In August 2022, NAVEX announced a major update to RiskRate, its third-party risk screening and monitoring solution. RiskRate's attention is part of the NAVEX One platform suite of third-party risk management (TPRM) solutions. The announced enhancements introduce a new streamlined third-party self-registration and simpler onboarding process, as well as easier access to ultimate beneficial ownership (UBO) data.
- In September 2021, MetricStream, a market leader in Integrated Risk Management (IRM) and Governance, Risk and Compliance, announced the launch of an Environmental, Social and Governance (ESG) offering based on the company's proven MetricStream platform. New product, MetricStream ESGRC, helps organizations reduce their environmental impact and demonstrate commitment to social responsibility and implement robust governance policies.
- In August 2021, the U.S. Securities and Exchange Commission (SEC) approved a new listing rule for the Nasdaq Stock Exchange (NSE), requiring all companies traded on Nasdaq to have at least two diverse director. As one of the first official listing regulations to combat a lack of diversity, this encourages private and public sector companies to rethink their corporate culture and governance from a compliance and diversity perspective. It has the potential to help the compliance management software market.
Major Segments Covered in the Global Compliance Management Software Market:
Market Key Players:
MetricStream, MasterControl, SAP, IBM, Accupoint Software, Peacock Consulting, Enablon, SOVOS, Dakota Software, Convercent, And Others.
Compliance Management Software Market by Types:
Compliance Management Software Market by Applications:
- Small and Medium Enterprises
- Large Enterprises
Compliance Management Software Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030
The global compliance management software market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America dominates the compliance management software market with a share of over 42%, followed by Europe and Asia Pacific. The presence of major players such as Oracle Corp., Thomson Reuters, etc. has greatly driven the growth of the compliance management software market in this region. Furthermore, the growing need for automation by organizations has led to the development of cybersecurity-related risks, which has led to a growing demand for compliance management solutions. Moreover, the presence of several start-up companies in the U.S. is significantly driving the growth of the compliance management software market.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
With the increasing Compliance Management Software and artificial intelligence (AI) with governance risk compliance (GRC) solutions, several lucrative opportunities are emerging for vendors in the global compliance management software industry. However, the growth of the compliance management software market is expected to be hampered by varying regulatory policy structures across regions and businesses. Nonetheless, the continuous advancement in technology in the industry is expected to provide lucrative opportunities for market entities in the coming years. Growing demand for various solutions required in various industries is considered as one of the major challenges facing the market.
Report Scope of Global Compliance Management Software Market:
CAGR of 10.9% from 2022 to 2030.
Small and Medium Enterprises, Large Enterprises
MetricStream, MasterControl, SAP, IBM, Accupoint Software, Peacock Consulting, Enablon, SOVOS, Dakota Software, Convercent
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2022 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Compliance Management Software market?
The Compliance Management Software Market is growing at a CAGR of 10.9% During Forecast Period.
What are the key types and applications of Compliance Management Software market?
- On-Premise, Cloud-Based
- Small and Medium Enterprises, Large Enterprises
Who are the key players in Compliance Management Software market?
MetricStream, MasterControl, SAP, IBM, Accupoint Software, Peacock Consulting, Enablon, SOVOS, Dakota Software, Convercent, And others.
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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.