What are the latest figures on the policy management software market’s size and projected CAGR?
The policy management software market size has grown rapidly in recent years. It will grow from $1.82 billion in 2024 to $2.18 billion in 2025 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to regulatory compliance requirements, increasing data security concerns, corporate governance initiatives, demand for centralized policy repositories, need for streamlined audit processes.
The policy management software market size is expected to see rapid growth in the next few years. It will grow to $4.35 billion in 2029 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to growing adoption of artificial intelligence (AI) for policy analysis, emergence of remote work and distributed workforce management, expansion of industry-specific compliance standards, rising demand for customizable policy templates, integration of blockchain technology for enhanced policy transparency. Major trends in the forecast period include increased focus on ESG (Environmental, Social, and Governance) compliance, adoption of machine learning for dynamic policy enforcement, rise of industry-specific regulatory requirements driving market growth, expansion of policy management software into emerging markets and SMEs, integration of robotic process automation (RPA) for policy workflow optimization.
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Which major factors have contributed to the expansion of the policy management software market?
The rising cybersecurity threats are expected to propel the growth of policy management software forward. Cybersecurity threats are potential risks to computer systems, networks, and data that can result in unauthorized access, data breaches, or information loss. The rising cybersecurity threats is due to increased connectivity, data monetization, remote work, sophisticated attack techniques, and a lack of awareness. Policy management software enhances cybersecurity threat management by facilitating the creation, dissemination, enforcement, and monitoring of cybersecurity policies and procedures. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cyber-crime reports received were 76,000, up from 13% from the previous year. Therefore, rising cybersecurity threats are driving the growth of the policy management software market.
How is the policy management software market segmented?
The policy management software market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment Type: On-Premise, Cloud
3) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology And Telecommunications, Energy And utilities, Healthcare, Government And Defense, Manufacturing, Retail
Subsegments:
1) By Solution: Policy Administration, Compliance Management, Claims Management, Policy Analytics, Document Management
2) By Service: Consulting Services, Integration Services, Support And Maintenance Services, Training Services
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Who are the top competitors in the policy management software market?
Major companies operating in the policy management software market are Huawei Technologies Co. Ltd., Cisco Systems Inc., Oracle Corporation, Telefonaktiebolaget LM Ericsson, Ericsson, Nokia Corporation, LogicGate Inc., Juniper Networks Inc., Amdocs, Alcatel-Lucent Enterprise International SAS, Tekelec, NAVEX Global Inc., Mitratech, COMARCH SA., MetricStream Inc., Openet, Riskonnect Inc., Optiva Inc., Zeneth Technology Partners, Resolver Inc., SureCloud, SAI Global, CyberSaint Security, LogicManager, ConvergePoint Inc., Intracom Telecom, WorkflowFirst LLC, ComplianceBridge, ZenGRC (by Reciprocity Labs), Reciprocity Labs
Which key trends are expected to influence the policy management software market in the coming years?
Major companies operating in the policy management software market are focusing on the development of innovative technologies such as centralized policy management solutions to simplify the management, updating, and auditing of privacy policies and notices for compliance with global regulations. A centralized policy management solution is a software platform that enables organizations to manage, distribute, and enforce access policies from a single location, ensuring consistency and compliance across various applications and systems. For instance, in May 2023, OneTrust, LLC, a US-based provider of privacy management software platforms, launched OneTrust Policy and Notice Management. This solution enables organizations to manage, update, and audit multiple privacy policies and notices from a single dashboard, ensuring compliance with regulations like GDPR and CCPA. It features rich editing capabilities, automated recordkeeping integration, and maintains an audit trail for ongoing compliance, helping companies demonstrate their commitment to responsible data collection and use.
Which regional trends are influencing the policy management software market, and which area dominates the industry?
North America was the largest region in the policy management software market in 2024. The regions covered in the policy management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Policy Management Software Market Report 2025 Offer?
The policy management software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Policy management software refers to a specialized type of software designed to help organizations create, distribute, monitor, and enforce policies and procedures within their operations. These policies could encompass a wide range of areas, including human resources, compliance, cybersecurity, IT usage, safety protocols, and more.
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