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.

Compliance management software is a program used to continually track, monitor, and audit whether business processes are aligned with applicable laws, organizational policies, and the 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. By leveraging existing IT investments, Software AG’s compliance management software helps to lower the total cost of ownership. And by making it easier to establish controls and acceptable levels of risk, this innovative compliance management software makes it easy to stay in alignment with organizational objectives and policies and to comply with regulatory requirements with confidence.

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

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. According to the Cyber & Data Security Risk Survey from Marsh and McLennan, in 2018 18% of the small businesses said that they developed cyber incident response plans. Thus, The significant need for efficient compliance talent and efficient planning by organizations for cyber incidents has led to the growing demand for IT security, privacy, and compliance management solution.

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

Based on Deployment, The market is segmented into Cloud and On-Premises. The on-premise segment dominated the Compliance Management Software Market in 2019 as it has been a classical approach that has existed since the beginning of the computer age. An on-premise solution offers total control over the software as all sensitive data is stored internally and there is no risk of exposing it to a third party. On-premise deployment further enables more options for customizations. However, the companies are increasingly shifting toward the usage of cloud-based solutions as on-premise solutions have higher operational costs. The other factor is the high maintenance requirements as it becomes the organization’s responsibility to upgrade and scale the solution when required.

Compliance Management Software Market, By Storage Based

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

Based on Storage Based, The market is bifurcated into Third-Party Management, Policy and Procedure Management, Product and Service Offer Management, Governance, Risk and Compliance Management. The government, Risk & Compliance (GRC) segment held the largest market share in the Compliance Management Software Market in 2019. The growing demand for internal audit features in organizations that are facing increasing regulatory requirements is enhancing the need for GRC solutions. Moreover, the development of risk analytics in order to support the integration of risk management and performance management are fueling the demand for GRC. These factors are enhancing the deployment of government, risk and compliance storage-based solution segment further propelling the growth of the market.

Compliance Management Software Market, By Geography

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

Based On Geography, The Global Compliance Management Software Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America dominated the Compliance Management Software Market with a share of more than 42%, followed by Europe and APAC. The presence of dominant players such as Oracle Corporation, Thomson Reuters, and so on has highly fueled the growth of the Compliance Management Software Market in this region. Moreover, the rising need for automation in organizations are resulting in the development of risk related to cybersecurity which is leading to the growing demand for compliance management solution. Also, the presence of several startups in the US is significantly propelling 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

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.