PUBLISHER: The Business Research Company | PRODUCT CODE: 1703190
PUBLISHER: The Business Research Company | PRODUCT CODE: 1703190
A compliance management solution encompasses a suite of tools and controls designed to centralize, automate, and streamline compliance-related processes, which include regulatory tracking, policy management, risk assessment, and reporting. Its purpose is to assist organizations in effectively managing and adhering to regulatory requirements, industry standards, and internal policies.
The primary types of compliance management solutions include regulatory compliance solutions, Americans with Disabilities Act (ADA) compliance solutions, Health Insurance Portability and Accountability (HIPAA) compliance solutions, website accessibility services, and compliance with Web Content Accessibility Guidelines (WCAG). The regulatory compliance solution segment comprises software solutions that aid businesses in complying with various laws, regulations, and industry standards. These solutions provide tools for tracking, managing, and reporting on compliance activities across different platforms such as websites, mobile applications, and various storage-based services. They include functionalities such as third-party management, policy and procedure management, product and service offer management, governance, risk management, and compliance management tailored for industries such as finance, healthcare, legal, real estate, and manufacturing.
The compliance management solutions market research report is one of a series of new reports from The Business Research Company that provides compliance management solutions market statistics, including compliance management solutions industry global market size, regional shares, competitors with a compliance management solutions market share, detailed compliance management solutions market segments, market trends and opportunities, and any further data you may need to thrive in the compliance management solutions industry. This compliance management solutions 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 compliance management solution market size has grown strongly in recent years. It will grow from $3.28 billion in 2024 to $3.6 billion in 2025 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to demand for transparency and accountability, litigation and legal liability, heightened security threats, digital transformation, corporate scandals and regulatory failures.
The compliance management solution market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2029 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing third-party risk management, increasing cybersecurity threats, increasing data privacy concerns, changing corporate governance, integration with emerging technologies. Major trends in the forecast period include regulatory technology innovations, advanced cloud-based solutions, integrated risk management solutions, artificial intelligence (AI) and machine learning integration, blockchain technology adoption.
The surge in cyber threats is anticipated to drive the expansion of the compliance management solution market in the foreseeable future. Cyber threats encompass malevolent activities targeting computer systems, networks, and digital data, posing risks such as data breaches, malware infiltrations, and unauthorized access. This risk escalation stems from the growing digitalization of business operations, dependence on technology, and vulnerabilities in software and hardware systems. Compliance management solutions implemented in organizations play a crucial role in mitigating risks and cybersecurity threats, ensuring data security, and adhering to evolving regulatory mandates within an increasingly intricate digital environment. For example, in April 2023, the Identity Theft Resource Center, a non-profit organization based in the US, reported a 68% increase in data breach incidents in 2022 compared to 2021, with 1,862 breaches reported versus 1,108 breaches in the preceding year. Consequently, the mounting risk of cyber threats is propelling the expansion of the compliance management solution market.
Prominent companies in the compliance management solution market are innovating AI-powered compliance solutions to assist organizations in streamlining their compliance processes, reducing manual labor, and mitigating the risk of non-compliance. These AI-enabled compliance management solutions aid in alleviating the burden of manual compliance procedures, enhancing accuracy and efficiency, and bolstering overall compliance readiness. For instance, in April 2024, Securiti, a US-based software development firm, unveiled its compliance management platform, an automated solution aimed at simplifying the complex landscape of artificial intelligence (AI) and data regulations for enterprises. This solution adeptly adheres to swiftly evolving regulations such as the European Union AI Act, the NIST AI risk management framework, and the Singapore model AI governance framework. Additionally, it assists businesses in navigating intersecting regulations, reducing compliance expenses, and fostering seamless collaboration across organizational units.
In October 2023, Portside Inc., a US-based business aviation software company, acquired Baldwin Aviation Inc. for an undisclosed amount. This acquisition aims to enhance Portside's extensive range of tools and technologies. Baldwin Aviation Inc. is a US-based software company specializing in safety and compliance management systems for industries such as transportation, manufacturing, and others.
Major companies operating in the compliance management solution market are Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Thomson Reuters Corporation, Wolters Kluwer NV, RSA Security LLC, Workiva Inc., Diligent Corporation, NAVEX Global, Riskonnect Inc., MetricStream Inc., ComplyAdvantage, Resolver Inc., LogicGate Inc., Convercent Inc., LogicManager Inc., Healthicity LLC, SAI Global, Quantivate LLC, Compliancy Group LLC, ProcessGene Ltd., Compliance.ai Inc., Reciprocity Inc., Hiperos LLC
North America was the largest region in the compliance management solution market in 2024. The regions covered in the compliance management solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the compliance management solution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The compliance management solution market consists of revenues earned by entities by providing services such as vendor risk management, reporting and analytics, training and awareness, and policy management. 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.
Compliance Management Solution Global Market Report 2025 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 compliance management solution 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 compliance management solution ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The compliance management solution 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.