Compliance automation tools market report 2024 with 2025-2030 forecasts featuring sprinto, ibm, auditboard, sova, metricstream, archer, drata, fusion risk management, onetrust, and processunity
Dublin, oct. 25, 2024 (globe newswire) -- the "global compliance automation tools market (2024 edition): market size, trends, opportunities and forecast by application, industry, deployment, region, by country: 2020-2030" report has been added to researchandmarkets.com's offering. compliance automation tools market was valued at usd 2.53 billion in 2023 and is expected to grow at a cagr of 19.7% during 2025-2030. the compliance automation tools market has grown significantly due to increasing regulatory requirements across various industries, the rising complexity of compliance processes, and the need for efficient risk management. compliance automation tools help organizations streamline their compliance processes by automating tasks such as monitoring, reporting, and auditing. these tools are crucial in industries like finance, oil & gas, and it, where regulatory compliance is stringent and failure to comply can result in severe penalties. the rise in data breaches and cyber threats has also driven the demand for compliance automation tools. organizations are increasingly adopting these tools to ensure data protection and privacy, which are critical components of regulatory frameworks like gdpr, hipaa, and others. the growing complexity of global regulations, coupled with the need to manage compliance across multiple jurisdictions, has further fueled the market growth. technological advancements, particularly in artificial intelligence and machine learning, have significantly enhanced the capabilities of compliance automation tools. these technologies enable real-time monitoring and analytics, making it easier for organizations to detect and respond to compliance issues. the integration of these advanced technologies is a major trend in the market, providing more robust and efficient solutions for compliance management. segment insights by deployment type, the cloud-based segment holds the largest market share, accounting for approximately 55% of the global compliance automation tools market in 2023. the scalability, flexibility, and cost-effectiveness of cloud solutions make them a preferred choice for organizations of all sizes. geographical insights americas represent the largest market for compliance automation tools, driven by the stringent regulatory environment, particularly in the financial and healthcare sectors. the united states is a key market, with significant investments in compliance technology and a strong emphasis on data protection. in the americas, the market benefits from a mature it infrastructure and the presence of major compliance solution providers. the high incidence of regulatory changes and the need for continuous compliance also contribute to market growth. the asia pacific region is expected to witness the highest growth rate, driven by increasing regulatory scrutiny, the rise of digitalization, and the growing adoption of cloud-based solutions. countries like china, japan, and india are key markets, with expanding financial and healthcare sectors. in europe, the market is supported by strong regulatory frameworks and a well-established financial enterprise size. countries like germany, france, and the uk are major contributors, with a focus on ensuring compliance with gdpr and other regulations.
