Regulatory Compliance Management Software Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The new report published by The Business Research Company, titled Regulatory Compliance Management Software Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the regulatory compliance management software market size has grown rapidly in recent years. It will grow from $10.06 billion in 2023 to $11.18 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The regulatory compliance management software market size is expected to see rapid growth in the next few years. It will grow to $17.11 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.

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Safeguarding Against Data Breaches With Regulatory Compliance Management Software
The growing risk of data breaches is expected to propel the growth of the regulatory compliance management software market going forward. Data breaches are malicious attempts to disrupt or gain unauthorized access to computer systems or networks. The risk of data breaches includes the pursuit of monetary gain, insufficient cybersecurity skills, and a shortage of cybersecurity expertise. Regulatory compliance management software assists organizations in mitigating the growing risk of cyber-attacks by ensuring regulatory compliance, effectively managing risks, enforcing security policies, facilitating incident response, and incorporating cybersecurity awareness among employees. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, up from 13% from the previous year. Furthermore, in 2021, according to the Internet Crime Complaint Center, a US-based government organization, the United States witnessed 847,376 cybercrime complaints, marking a 7% surge from 2020, with estimated losses surpassing $6.9 billion. Therefore, the growing risk of cyberattacks drives the growth of the regulatory compliance management software market.

Innovative Solutions For Regulatory Challenges AI In Compliance Management
Companies operating in the regulatory compliance management software market integrate regulatory technology (regtech) ecosystems with AI-powered regulatory change management (RCM) to stay ahead of regulatory changes, reduce compliance risks, and ensure ongoing adherence to evolving regulatory requirements. An AI-powered regulatory change management (RCM) solution leverages artificial intelligence algorithms to automatically monitor, analyze, and interpret regulatory updates from various sources, such as government agencies, industry publications, and legal databases. For instance, in April 2024, Wolters Kluwer N.V., a Netherlands-based software company, launched OneSumX Reg Manager, an AI-powered solution to help community banks and credit unions in the United States improve their efforts to manage regulatory changes. It provides comprehensive workflow capability to monitor, track, establish, and show compliance with key state and federal regulations. The platform offers automated, structured regulatory content feeds, AI-enabled source libraries and updates, and the ability to map and monitor regulatory changes to minimize compliance risks.

The regulatory compliance management software market covered in this report is segmented -

1) By Offerings: Solutions, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By End Users: Information And Communications Technology, Construction And Engineering, Mining, Retail, Healthcare, Transportation And Logistics, General Manufacturing, Banking, Financial Services, And Insurance, Media And Entertainment, Other End-Users

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Major companies operating in the regulatory compliance management software market are Microsoft Corporation, International Business Machines Corporation, PricewaterhouseCoopers LLP, Oracle Corporation , SAP SE, Deloitte Touche Tohmatsu Limited, Thomson Reuters Corporation, Wolters Kluwer NV, Qualys Inc., Appian Corporation, Diligent Corporation, NAVEX Global Inc., MetricStream Inc., Galvanize Inc., Intelex Technologies Inc., Verse Solutions, Sparta Systems Inc., MasterControl Inc., Resolver Inc., BMI SYSTEM, Convercent Inc., AssurX Inc., BWise, ProcessGene Ltd., LogicManager Inc., Reciprocity Inc., Quantivate LLC

Contents of the report:
1. Executive Summary
2. Regulatory Compliance Management Software Market Report Structure
3. Regulatory Compliance Management Software Market Trends And Strategies
4. Regulatory Compliance Management Software Market - Macro Economic Scenario
5. Regulatory Compliance Management Software Market Size And Growth
…..
27. Regulatory Compliance Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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