Regulatory Compliance Market Forecast 2024-2033

Overview and Scope
Regulatory compliance refers to an organization’s adherence to laws, regulations, guidelines, and specifications relevant to its business processes. Regulatory compliance is useful in ensuring that organizations operate within legal boundaries, mitigate risks associated with non-compliance, and uphold ethical standards in their business practices.

Sizing and Forecast
The regulatory compliance market size has grown strongly in recent years. It will grow from $19.44 billion in 2023 to $21.16 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to the increased regulatory scrutiny, enhanced reporting standards, expanded legal frameworks, the emergence of industry standards, and heightened public awareness.

The regulatory compliance market size is expected to see strong growth in the next few years. It will grow to $30.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to expanding scope of compliance standards, rising regulatory enforcement actions, growing adoption of regtech solutions, globalization and cross-border compliance challenges, and demand for transparent corporate governance. Major trends in the forecast period include increased regulatory complexity, continuous monitoring and real-time reporting, collaboration and transparency, focus on ethical and corporate governance and ai-powered compliance monitoring.

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Segmentation & Regional Insights
The regulatory compliance market covered in this report is segmented –

1) By Type: Service, Software
2) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By End Users: Information and Communication Technology (ICT), Construction And Engineering, Mining, Retail, Healthcare, Transportation And Logistics, General Manufacturing, Banking, Financial Services, and Insurance (BFSI), Other End Users

North America the largest region in the regulatory compliance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory compliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing number of fraudulent activities is expected to propel the growth of the regulatory compliance market going forward. Fraudulent activities refer to deliberate deceptive actions taken with the intent to secure unfair or unlawful gain or to deprive a victim of a legal right. Fraudulent activities are growing due to increased reliance on digital technologies, evolving criminal tactics, and gaps in regulatory enforcement. Regulatory compliance is essential for preventing fraudulent activities because it establishes standards, guidelines, and oversight mechanisms that help identify and deter illicit behavior, ensuring accountability and transparency in financial transactions. For instance, in January 2024, according to a report published by the Identity Theft Resource Center (ITRC), a US-based non-profit organization, there were 3,205 data compromises publicly reported in 2023, affecting an estimated 353,027,892 individuals. This represents a 72% increase compared to the previous highest recorded level and a 78% rise over the incidents reported in 2022. Therefore, the increasing number of fraudulent activities is driving the growth of the regulatory compliance market.

Key Industry Players

Major companies operating in the regulatory compliance market are Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Oracle Corporation, DNV GL AS, Grant Thornton International Ltd., Thomson Reuters Corporation, Baker Tilly International, SAS Institute Inc., Wolters Kluwer N.V., UL Solutions Inc., Norton Rose Fulbright LLP, Ramboll Group A/S, Protiviti Inc., Lloyd’s Register Quality Assurance Limited, Sphera Solutions Inc., MetricStream Inc., Cority Software Inc., Sparta Systems Inc., Enablon, EtQ LLC, MasterControl Inc., Assent Compliance Inc., 3E Company

The regulatory compliance market report table of contents includes:

1. Executive Summary
2. Regulatory Compliance Market Characteristics
3. Regulatory Compliance Market Trends And Strategies
4. Regulatory Compliance Market – Macro Economic Scenario
5. Global Regulatory Compliance Market Size and Growth
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31. Regulatory Compliance Market Other Major And Innovative Companies
32. Global Regulatory Compliance Market Competitive Benchmarking
33. Global Regulatory Compliance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Regulatory Compliance Market
35. Regulatory Compliance Market Future Outlook and Potential Analysis
36.Appendix

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