PUBLISHER: The Business Research Company | PRODUCT CODE: 1619572
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619572
Ethics and compliance learning software comprises digital platforms designed to educate employees and stakeholders about a company's ethical standards, legal obligations, and regulatory requirements. These platforms typically offer training modules, interactive scenarios, assessments, and tracking tools to ensure employees understand and comply with relevant laws, company policies, and ethical guidelines.
The main types of ethics and compliance learning software are cloud-based and web-based. Cloud-based software is hosted on remote servers and accessed via the internet. These applications cater to both large enterprises and small and medium enterprises (SMEs), and are used across various industries, including financial services, manufacturing, government, information technology (IT) and telecommunications, education, retail and consumer goods, and energy and utilities.
The ethics and compliance learning software market research report is one of a series of new reports from The Business Research Company that provides ethics and compliance learning software market statistics, including ethics and compliance learning software industry global market size, regional shares, competitors with a ethics and compliance learning software market share, detailed ethics and compliance learning software market segments, market trends and opportunities, and any further data you may need to thrive in the ethics and compliance learning software industry. This ethics and compliance learning software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ethics and compliance learning software market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%.The growth in the historic period can be attributed to changes in regulations, corporate scandals, heightened enforcement, globalization, and advancements in technology.
The ethics and compliance learning software market size is expected to see rapid growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to the expansion of remote workforces, heightened focus on ESG (environmental, social, and governance) criteria, corporate social responsibility (CSR), and a rise in workplace misconduct cases. Major trends during this period include growing regulatory requirements, integration of AI and machine learning, a shift to cloud-based solutions, an emphasis on data privacy and security, customization, and solutions tailored to specific industries.
The growth of remote work is anticipated to drive the expansion of the ethics and compliance learning software market in the future. Remote work, which is also referred to as telecommuting or working from home, describes a work setup where employees complete their job responsibilities from locations other than the company's physical office. The increase in remote work is attributed to its flexibility, advancements in technology, and the pursuit of improved work-life balance. Ethics and compliance learning software helps ensure that remote employees consistently follow company policies and legal requirements by offering accessible and standardized training along with monitoring. For example, a report from the Office for National Statistics, a UK-based official statistics provider, indicated that in January and February 2023, 40% of working adults in Great Britain were telecommuting, an increase from 29% between December 2022 and January 2023. Consequently, the rise of remote work is contributing to the growth of the ethics and compliance learning software market.
Leading companies in the ethics and compliance learning software market are concentrating on developing innovative solutions, such as artificial intelligence (AI)-driven training platforms, to enhance their market position. AI-driven ethics and compliance training platforms utilize AI technology to deliver tailored, interactive training programs focused on ethical conduct and regulatory compliance within organizations. For example, in June 2024, LRN Corporation, a US-based education company, launched Catalyst Engage.AI, a cutting-edge AI-driven solution designed to revolutionize ethics and compliance training. This platform employs advanced AI to create engaging training modules centered on real-world ethical challenges, featuring AI-powered scenarios, personalized feedback, and microlearning courses on topics such as anti-bribery, anti-money laundering, and conflicts of interest.
In December 2022, LRN Corporation acquired the compliance learning business unit from Thomson Reuters for an undisclosed amount. This acquisition positions LRN Corporation as the largest global provider of ethics and compliance learning solutions, significantly expanding its international presence, particularly in the Asia-Pacific region, including Singapore, Japan, Hong Kong, and Australia. Thomson Reuters Corporation, a Canada-based media company, is known for its ethics and compliance learning software.
Major companies operating in the ethics and compliance learning software market are SAP SE, Workday Inc., Cornerstone OnDemand Inc., SAI Global, Skillsoft, Mitratech, Saba Software, NAVEX Global, MediaPro, Intelex Technologies, EverFi, Bridge, True Office Learning, Traliant, Syntrio, MindEdge Learning Inc., Blue Umbrella LLC, 360factors Inc., Elucidat, Interactive Compliance Training (ICT) Ltd.
North America was the largest region in the ethics and compliance learning software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ethics and compliance learning software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ethics and compliance learning software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ethics and compliance learning software market includes revenues earned by entities by providing services such as training modules, interactive sessions, customization, assessments and quizzes, and reporting and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ethics And Compliance Learning Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ethics and compliance learning software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ethics and compliance learning software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ethics and compliance learning software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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