Market Overview:
The global legal, risk and compliance solution market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for risk and compliance solutions across different industries, such as financial services, medical, retail, telecom and IT, and other sectors. The software segment is expected to dominate the global legal, risk and compliance solution market during the forecast period.
Product Definition:
A legal, risk and compliance solution is a software application that helps businesses manage their legal and regulatory obligations. The importance of a legal, risk and compliance solution depends on the size of the business and its industry. For larger businesses, a legal, risk and compliance solution can help ensure that they are in compliance with government regulations.
A Legal Risk Compliance Solution provides an organization with an automated system to identify potential risks associated with specific business processes or transactions as well as track mitigation measures taken to address those risks.
Software:
Software is a collection of processes and procedures, which are used to solve specific problems. It is used in various application areas such as accounting, finance, marketing & advertising and law. The software solutions help automate the tasks done by humans; it helps businesses to save time and money.
The global software market size was valued at USD 1,099 billion in 2016.
Services:
The global services and it's usage in legal, risk and compliance solution market size was valued at USD 2.72 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period.
Application Insights:
The financial services segment accounted for the largest revenue share in 2017 and is anticipated to maintain its dominance over the forecast period. The growth of this segment can be attributed to increasing demand for regulatory compliance solutions from various financial institutions. These institutions are under constant pressure from regulators and enforcement agencies to prove that they are complying with regulations. As a result, these agencies are focusing on conducting audits of large banks, which is driving the need for legal, risk and compliance solution in this sector.
Telecom & IT companies also generate significant revenues as they face numerous challenges in their operations due to rapidly changing environment including cyber-attacks, data breaches, frauds and etc., which needs effective management practices followed by global technology companies across different industry verticals such as banking & insurance or public sectors like transportation or education among others.
Regional Analysis:
North America is expected to dominate the global market over the forecast period. The growth can be attributed to increasing government regulations and compliance demands, technological advancements, and high demand for GLBS in U.S. Furthermore, growing number of mergers & acquisitions are also anticipated to boost regional growth over the next eight years. For instance, in 2016; Pfizer Inc.
Asia Pacific is estimated to witness significant growth during the forecast period owing to rising regulatory focus on anti-money laundering (AML) & financial crime prevention (FCP). This can be attributed from increased terrorist threats across various countries such as India and China resulting into increased adoption of legal solutions by banks/financial institutions for risk assessment purposes among others.
Growth Factors:
- Increasing demand for risk and compliance solutions from small and medium-sized businesses (SMBs) due to the increasing number of regulations and compliance mandates.
- The need for better visibility into legal risks and compliance posture across the organization in order to mitigate potential financial losses, regulatory penalties, and brand damage.
- Growing demand for cloud-based risk and compliance solutions as organizations move away from legacy on-premises systems.
- The increasing use of artificial intelligence (AI) and machine learning technologies in risk and compliance solutions to help identify patterns in data that would otherwise be difficult to detect manually.
- The growing popularity of integrated risk management platforms that provide a single view into an organization's overall risk posture
Scope Of The Report
Report Attributes
Report Details
Report Title
Legal, Risk and Compliance Solution Market Research Report
By Type
Software, Services
By Application
Financial Services, Medical, Retail, Telecom and IT, Other
By Companies
IBM, Thomson Reuters, Oracle Corporation, Dell EMC, Fidelity National Information Services, HCL Technologies Limited, Wolters Kluwer, SAI Global, Mitratech Holdings
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global Legal, Risk and Compliance Solution Market Report Segments:
The global Legal, Risk and Compliance Solution market is segmented on the basis of:
Types
Software, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Financial Services, Medical, Retail, Telecom and IT, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- IBM
- Thomson Reuters
- Oracle Corporation
- Dell EMC
- Fidelity National Information Services
- HCL Technologies Limited
- Wolters Kluwer
- SAI Global
- Mitratech Holdings
Highlights of The Legal, Risk and Compliance Solution Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Services
- By Application:
- Financial Services
- Medical
- Retail
- Telecom and IT
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Legal, Risk and Compliance Solution Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Legal, Risk and Compliance Solution is a software that helps organizations comply with legal, regulatory and compliance requirements. It can help identify risks, assess potential impacts and develop mitigation plans.
Some of the key players operating in the legal, risk and compliance solution market are IBM, Thomson Reuters, Oracle Corporation, Dell EMC, Fidelity National Information Services, HCL Technologies Limited, Wolters Kluwer, SAI Global, Mitratech Holdings.
The legal, risk and compliance solution market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Legal, Risk and Compliance Solution Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Legal, Risk and Compliance Solution Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Legal, Risk and Compliance Solution Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Legal, Risk and Compliance Solution Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Legal, Risk and Compliance Solution Market Size & Forecast, 2018-2028
4.5.1 Legal, Risk and Compliance Solution Market Size and Y-o-Y Growth
4.5.2 Legal, Risk and Compliance Solution Market Absolute $ Opportunity
Chapter 5 Global Legal, Risk and Compliance Solution Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Legal, Risk and Compliance Solution Market Size Forecast by Type
5.2.1 Software
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Legal, Risk and Compliance Solution Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Legal, Risk and Compliance Solution Market Size Forecast by Applications
6.2.1 Financial Services
6.2.2 Medical
6.2.3 Retail
6.2.4 Telecom and IT
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Legal, Risk and Compliance Solution Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Legal, Risk and Compliance Solution Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Legal, Risk and Compliance Solution Analysis and Forecast
9.1 Introduction
9.2 North America Legal, Risk and Compliance Solution Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Legal, Risk and Compliance Solution Market Size Forecast by Type
9.6.1 Software
9.6.2 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Legal, Risk and Compliance Solution Market Size Forecast by Applications
9.10.1 Financial Services
9.10.2 Medical
9.10.3 Retail
9.10.4 Telecom and IT
9.10.5 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Legal, Risk and Compliance Solution Analysis and Forecast
10.1 Introduction
10.2 Europe Legal, Risk and Compliance Solution Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Legal, Risk and Compliance Solution Market Size Forecast by Type
10.6.1 Software
10.6.2 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Legal, Risk and Compliance Solution Market Size Forecast by Applications
10.10.1 Financial Services
10.10.2 Medical
10.10.3 Retail
10.10.4 Telecom and IT
10.10.5 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Legal, Risk and Compliance Solution Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Legal, Risk and Compliance Solution Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Legal, Risk and Compliance Solution Market Size Forecast by Type
11.6.1 Software
11.6.2 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Legal, Risk and Compliance Solution Market Size Forecast by Applications
11.10.1 Financial Services
11.10.2 Medical
11.10.3 Retail
11.10.4 Telecom and IT
11.10.5 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Legal, Risk and Compliance Solution Analysis and Forecast
12.1 Introduction
12.2 Latin America Legal, Risk and Compliance Solution Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Legal, Risk and Compliance Solution Market Size Forecast by Type
12.6.1 Software
12.6.2 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Legal, Risk and Compliance Solution Market Size Forecast by Applications
12.10.1 Financial Services
12.10.2 Medical
12.10.3 Retail
12.10.4 Telecom and IT
12.10.5 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Legal, Risk and Compliance Solution Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Legal, Risk and Compliance Solution Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Legal, Risk and Compliance Solution Market Size Forecast by Type
13.6.1 Software
13.6.2 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Legal, Risk and Compliance Solution Market Size Forecast by Applications
13.10.1 Financial Services
13.10.2 Medical
13.10.3 Retail
13.10.4 Telecom and IT
13.10.5 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Legal, Risk and Compliance Solution Market: Competitive Dashboard
14.2 Global Legal, Risk and Compliance Solution Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 IBM
14.3.2 Thomson Reuters
14.3.3 Oracle Corporation
14.3.4 Dell EMC
14.3.5 Fidelity National Information Services
14.3.6 HCL Technologies Limited
14.3.7 Wolters Kluwer
14.3.8 SAI Global
14.3.9 Mitratech Holdings
