The policy management software market size has grown rapidly in recent years. It will grow from $1.54 billion in 2023 to $1.82 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The historic growth in policy management software can be attributed to several factors, including regulatory compliance requirements, mounting concerns over data security, corporate governance initiatives, the demand for centralized policy repositories, and the necessity 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 $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 19%. The forecasted growth in policy management software is driven by various factors, including the increasing adoption of artificial intelligence (AI) for policy analysis, the emergence of remote work and distributed workforce management, and the expansion of industry-specific compliance standards. Additionally, rising demand for customizable policy templates and the integration of blockchain technology for enhanced policy transparency are contributing to this growth. Key trends expected in the forecast period include a heightened focus on ESG (Environmental, Social, and Governance) compliance, the adoption of machine learning for dynamic policy enforcement, and the rise of industry-specific regulatory requirements driving market growth. Furthermore, the expansion of policy management software into emerging markets and small and medium enterprises (SMEs), as well as the integration of robotic process automation (RPA) for policy workflow optimization, are anticipated trends in this period.
The escalating cybersecurity threats are anticipated to drive growth in the policy management software market. Cybersecurity threats pose potential risks to computer systems, networks, and data, leading to unauthorized access, data breaches, and information loss. The surge in cybersecurity threats is attributed to factors such as increased connectivity, data monetization, remote work practices, sophisticated attack techniques, and a lack of awareness among users. Policy management software plays a crucial role in enhancing cybersecurity threat management by facilitating the creation, dissemination, enforcement, and monitoring of cybersecurity policies and procedures. For example, according to the Australian Cyber Security Centre's November 2022 report, cyber-crime reports surged to 76,000, marking a 13% increase from the previous year. This underscores the pressing need for robust policy management solutions to mitigate cybersecurity risks effectively, thereby propelling the growth of the policy management software market.
Key players in the policy management software market are committed to developing innovative technologies to provide scalable solutions that meet the evolving needs of modern businesses. One such example is PolicyTrac, designed to address challenges encountered by companies in policy management, including outdated policies, accessibility issues, and slow updates. ETHIX360 Inc. introduced PolicyTrac in September 2021, a cloud-based policy management software solution revolutionizing the market by offering comprehensive features for employee ethics communication, case management, compliance training, and policy management. This platform caters to businesses, particularly small to midsize ones, seeking to streamline policy management, enhance compliance, and improve operational efficiency.
In January 2021, HealthStream bolstered its suite of workforce solutions for the healthcare industry through the acquisition of ComplyALIGN for $2 million. This strategic move aims to provide healthcare organizations with comprehensive tools to support their workforce and enhance healthcare delivery. ComplyALIGN, a US-based policy management software company, specializes in managing organizations' policies, procedures, and internal documents. By integrating ComplyALIGN's capabilities into its portfolio, HealthStream strengthens its position in the policy management software market and reinforces its commitment to supporting healthcare organizations in navigating regulatory compliance and cybersecurity challenges.
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.
North America was the largest region in the policy management software market in 2023. The regions covered in the policy management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the policy management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Policy management software is specialized software designed to assist organizations in creating, distributing, monitoring, and enforcing policies and procedures across various areas such as human resources, compliance, cybersecurity, and safety protocols.
The primary categories of policy management software include solutions and services. Solutions comprise software tools, technologies, and methodologies aimed at organizing and enforcing policies within an organization. These solutions are deployed either on-premise or in the cloud and cater to enterprises of different sizes, including large, small, and medium enterprises. They find applications across various industry verticals such as banking, financial services, insurance (BFSI), information technology, telecommunications, energy, utilities, healthcare, government, defense, manufacturing, and retail.
The policy management software market research report is one of a series of new reports that provides policy management software market statistics, including policy management software industry global market size, regional shares, competitors with a policy management software market share, detailed policy management software market segments, market trends and opportunities, and any further data you may need to thrive in the policy management software industry. This policy management software 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 policy management software market consists of revenues earned by providing services such as policy creation, dissemination, tracking, compliance monitoring, and documentation management solutions to organizations. The market value includes the value of related goods sold by the service provider or included within the service offering. The policy management software market also includes sales of user interfaces, policy creation tools, distribution channels, access control, and compliance monitoring tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
This product will be delivered within 3-5 business days.
The policy management software market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 19%. The forecasted growth in policy management software is driven by various factors, including the increasing adoption of artificial intelligence (AI) for policy analysis, the emergence of remote work and distributed workforce management, and the expansion of industry-specific compliance standards. Additionally, rising demand for customizable policy templates and the integration of blockchain technology for enhanced policy transparency are contributing to this growth. Key trends expected in the forecast period include a heightened focus on ESG (Environmental, Social, and Governance) compliance, the adoption of machine learning for dynamic policy enforcement, and the rise of industry-specific regulatory requirements driving market growth. Furthermore, the expansion of policy management software into emerging markets and small and medium enterprises (SMEs), as well as the integration of robotic process automation (RPA) for policy workflow optimization, are anticipated trends in this period.
The escalating cybersecurity threats are anticipated to drive growth in the policy management software market. Cybersecurity threats pose potential risks to computer systems, networks, and data, leading to unauthorized access, data breaches, and information loss. The surge in cybersecurity threats is attributed to factors such as increased connectivity, data monetization, remote work practices, sophisticated attack techniques, and a lack of awareness among users. Policy management software plays a crucial role in enhancing cybersecurity threat management by facilitating the creation, dissemination, enforcement, and monitoring of cybersecurity policies and procedures. For example, according to the Australian Cyber Security Centre's November 2022 report, cyber-crime reports surged to 76,000, marking a 13% increase from the previous year. This underscores the pressing need for robust policy management solutions to mitigate cybersecurity risks effectively, thereby propelling the growth of the policy management software market.
Key players in the policy management software market are committed to developing innovative technologies to provide scalable solutions that meet the evolving needs of modern businesses. One such example is PolicyTrac, designed to address challenges encountered by companies in policy management, including outdated policies, accessibility issues, and slow updates. ETHIX360 Inc. introduced PolicyTrac in September 2021, a cloud-based policy management software solution revolutionizing the market by offering comprehensive features for employee ethics communication, case management, compliance training, and policy management. This platform caters to businesses, particularly small to midsize ones, seeking to streamline policy management, enhance compliance, and improve operational efficiency.
In January 2021, HealthStream bolstered its suite of workforce solutions for the healthcare industry through the acquisition of ComplyALIGN for $2 million. This strategic move aims to provide healthcare organizations with comprehensive tools to support their workforce and enhance healthcare delivery. ComplyALIGN, a US-based policy management software company, specializes in managing organizations' policies, procedures, and internal documents. By integrating ComplyALIGN's capabilities into its portfolio, HealthStream strengthens its position in the policy management software market and reinforces its commitment to supporting healthcare organizations in navigating regulatory compliance and cybersecurity challenges.
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.
North America was the largest region in the policy management software market in 2023. The regions covered in the policy management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the policy management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Policy management software is specialized software designed to assist organizations in creating, distributing, monitoring, and enforcing policies and procedures across various areas such as human resources, compliance, cybersecurity, and safety protocols.
The primary categories of policy management software include solutions and services. Solutions comprise software tools, technologies, and methodologies aimed at organizing and enforcing policies within an organization. These solutions are deployed either on-premise or in the cloud and cater to enterprises of different sizes, including large, small, and medium enterprises. They find applications across various industry verticals such as banking, financial services, insurance (BFSI), information technology, telecommunications, energy, utilities, healthcare, government, defense, manufacturing, and retail.
The policy management software market research report is one of a series of new reports that provides policy management software market statistics, including policy management software industry global market size, regional shares, competitors with a policy management software market share, detailed policy management software market segments, market trends and opportunities, and any further data you may need to thrive in the policy management software industry. This policy management software 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 policy management software market consists of revenues earned by providing services such as policy creation, dissemination, tracking, compliance monitoring, and documentation management solutions to organizations. The market value includes the value of related goods sold by the service provider or included within the service offering. The policy management software market also includes sales of user interfaces, policy creation tools, distribution channels, access control, and compliance monitoring tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Policy Management Software Market Characteristics3. Policy Management Software Market Trends and Strategies32. Global Policy Management Software Market Competitive Benchmarking33. Global Policy Management Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Policy Management Software Market
4. Policy Management Software Market - Macro Economic Scenario
5. Global Policy Management Software Market Size and Growth
6. Policy Management Software Market Segmentation
7. Policy Management Software Market Regional and Country Analysis
8. Asia-Pacific Policy Management Software Market
9. China Policy Management Software Market
10. India Policy Management Software Market
11. Japan Policy Management Software Market
12. Australia Policy Management Software Market
13. Indonesia Policy Management Software Market
14. South Korea Policy Management Software Market
15. Western Europe Policy Management Software Market
16. UK Policy Management Software Market
17. Germany Policy Management Software Market
18. France Policy Management Software Market
19. Italy Policy Management Software Market
20. Spain Policy Management Software Market
21. Eastern Europe Policy Management Software Market
22. Russia Policy Management Software Market
23. North America Policy Management Software Market
24. USA Policy Management Software Market
25. Canada Policy Management Software Market
26. South America Policy Management Software Market
27. Brazil Policy Management Software Market
28. Middle East Policy Management Software Market
29. Africa Policy Management Software Market
30. Policy Management Software Market Competitive Landscape and Company Profiles
31. Policy Management Software Market Other Major and Innovative Companies
35. Policy Management Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Policy Management Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on policy management software 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.
Reasons to Purchase:
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- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for policy management software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The policy management software market global report 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 market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Component: Solution; Service2) 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.
Key Companies Mentioned: Huawei Technologies Co. Ltd.; Cisco Systems Inc.; Oracle Corporation; Telefonaktiebolaget LM Ericsson; Ericsson
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | May 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.82 Billion |
Forecasted Market Value ( USD | $ 3.66 Billion |
Compound Annual Growth Rate | 19.0% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |