Global Compliance Management Software Market Size By Offering (Software, Services), By Deployment (Cloud, On-Premises), By Storage Based (Third Party Management, Policy and Procedure Management), By Geographic Scope And Forecast

Compliance Management Software Market Size And Forecast

Compliance Management Software Market size was valued at USD 33.1 Billion in 2024 and is projected to reach USD 75.8 Billion by 2031, growing at a CAGR of 10.9% from 2024 to 2031.

The rising risk of cyber threats has significantly led to the growing demand for the right talent in order to reduce the cyber risks. Moreover, businesses today are struggling to respond to the common cyber threats which have raised the need for compliance management solutions. The Global Compliance Management Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Compliance Management Software Market Definition

Compliance Management Software is a solution that helps any business/organization to design and implement compliance programs. A compliance management system is an integrated system comprised of written documents, functions, processes, controls, and tools that help an organization comply with legal requirements and minimize harm to consumers due to violations of law.

So, compliance management software? Think of it as your business's ever-watchful helper, always checking that you're playing by the rules – whether it's legal requirements, your own internal guidelines, or what your customers and partners expect. This type of software keeps a close eye on everything, managing risk and compliance in one handy, central ARIS repository. It makes everything more clear, streamlined, and manageable. Plus, it plays nicely with your existing IT stuff, so you don't have to break the bank. Basically, this compliance management software helps you set the right boundaries, understand your risks, and stay on track, giving you the confidence that you're meeting all those tricky regulations and staying true to your goals.

With this compliance management software, we can adapt faster to new laws and regulations and create a single company-specific requirements catalogue to avoid regulatory overlaps and double work. Software AG’s compliance management solution also helps in increasing business agility by quickly identifying the root cause of compliance issues and taking quick action, identifying, documenting, ing, and assessing risks and defining measures to minimize them, minimizing the risk of penalties by reducing exposure to potential compliance violations.

Global Compliance Management Software Market Overview

Cyber threats are on the rise, and that means companies are scrambling to find the right people to help them stay safe. It's tough out there for businesses trying to keep up with common attacks, which is why they're looking for compliance management solutions. Back in 2018, only 18% of small businesses had cyber incident response plans, according to Marsh and McLennan's Cyber & Data Security Risk Survey. That's why there's such a huge demand for IT security, privacy, and compliance management solutions – companies need skilled people and smart plans to deal with cyber incidents!

In addition, with the deployment of cloud and building infrastructure, companies are looking forward to automating the validation process which will embed several ways for gaining visibility and predicting parts of compliance in the architecture. This will also allow the companies to understand the security and led to the validation process by reviewing the dashboards which become more relevant and effective with more dynamic new technologies. Furthermore, by embedding automated dashboards for enterprise security monitoring architecture, organizations are leading to enhance the use of compliance management solutions.

Furthermore, the growing demand for regulatory compliance solutions, Americans with Disabilities Act (ADA) compliance solution, security information management and so on are surging the compliance management solution during the forecast period. The rising demand for as well as rising data security regulations leading to increasingly secure web gateways will drive the Compliance Management Solution Industry.

However, the lack of the latest technology-based platforms in organizations due to the dynamic regulatory updates and transformation in the work culture is affecting the deployment of compliance management solutions. The presence of this type of legacy system results in failure while highlighting the compliance risk, and making them more complex which leads the system to become ineffective. This creates challenges for compliance management solutions and hampers the growth of the market.

Global Compliance Management Software Market Segmentation Analysis

The Global Compliance Management Software Market Segmented on the basis of Offering, Deployment, Storage Based, And Geography.

Compliance Management Software Market, By Offering

• Software• Services

Based on Offering, The market is bifurcated into Software and Services. The service segment comprises integration and deployment, support and maintenance, and training and consulting services. The service segment is anticipated to witness rapid growth over the forecast period. The surging demand can be attributed to the innovative services offered by the market players such as process assessment, process improvement, and reporting and analysis. Developments in project portfolio management services such as on-the-job communication facilities, assignment governing policies, and program facilitation services help organizations in comparing macro-environmental factors that lead to increased productivity and ROI.

Compliance Management Software Market, By Deployment

• Cloud• On-Premises

When we talk about how companies are actually using Compliance Management Software, it basically breaks down into two optionsCloud and On-Premises. Back in 2019, the on-premise setup was the king of the hill. It's the old-school way, been around forever! The big draw? You're in charge.

You keep all your data locked down internally, and no need to worry about letting a third party near it. Plus, you can customize it exactly how you want it.

Compliance Management Software Market, By Storage Based

• Third-Party Management• Policy and Procedure Management• Product and Service Offer Management• Governance• Risk and Compliance Management

Think about itcompliance management software, based on storage, is really broken down into a few key areas. You've got Third-Party Management, making sure everyone you work with is playing by the rules. Then there's Policy and Procedure Management, keeping all those guidelines organized. And don't forget Product and Service Offer Management - ensuring your offerings meet requirements. Finally, there's Governance, Risk, and Compliance Management (GRC). Actually, GRC was the big dog in 2019, holding the largest market share! Why? Well, companies are facing more and more rules, and they need those internal audit features. Plus, the rise of risk analytics is helping them tie risk management to how well they're actually doing. All this is really driving the need for those storage-based GRC solutions, which helps the market grow overall.

Compliance Management Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

When we look at where in the world compliance management software is being used, we can break it down by geography into North America, Europe, Asia Pacific, and everywhere else. Right now, North America is leading the way, grabbing over 42% of the market share, with Europe and APAC not far behind. What's driving this in North America? Well, big names like Oracle Corporation and Thomson Reuters are major players, and their presence really boosts the market. Plus, as companies increasingly automate processes, they face more cybersecurity risks, which then creates a higher demand for compliance solutions. And let's not forget the numerous startups in the US that are also contributing to the growth of the Compliance Management Software Market!

Key Players

The “Global Compliance Management Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Software AG, NTT Group, Oracle Corporation, Sparta Systems Inc., Arena Solutions Inc., Pilgrim Quality Solutions Inc., MasterControl Inc., Aras Corporation, SAP SE and Thomson Reuters.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• In April 2021, Oracle has collaborated with CherryRoad Technologies. CherryRoad is well-known for its expertise in configuring and implementing customized and innovative solutions using the Oracle Leadership, Risk, and Conformity suite of application areas.

Mergers and Acquisitions

• In April 2020, Tricor Group, a Hong Kong-based company, acquired Malaysian operations of Axcelasia Inc, an SGX-listed company. The aim is to provide GRC solutions for end-user to manage their complex compliance and regulatory requirements and responsibilities.

Product Launches and Product Expansions

• In August 2019, Reciprocity launched ZenConnect, a system (PaaS) platform. It offers compliance and risk management to manage data.

• In June 2018, BOC Group has launched GRC 2.5. It is a GRC software that manages risk and compliance.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

We'll dig deep into the market, looking at both the numbers and the softer, less tangible aspects through smart segmentation. You'll get the market value in USD Billion for every segment and sub-segment, plus we'll pinpoint the region and segment poised for the biggest and fastest growth. Expect a geographical breakdown showing product/service consumption and what's influencing the market in each area. We'll size up the competition, ranking the big players and highlighting new service/product launches, partnerships, expansions, and acquisitions from the last five years. You'll also get detailed company profiles, including overviews, insights, product benchmarking, and SWOT analysis for the major players. We’ll give you our take on the current and future market outlook, considering recent events like growth opportunities, driving forces, and the challenges facing both emerging and established regions. We're also throwing in a thorough Porter's five forces analysis for an in-depth market perspective. Plus, you’ll gain valuable market insight through a clear Value Chain breakdown. Finally, we'll explore the market's dynamic landscape and future growth potential, and you'll get 6 months of analyst support after the sale to help you make the most of the insights.

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