Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Disclosure Management Market Report (2023-2028)," the market is estimated at USD 1.03 billion in 2023. It is expected to register a CAGR of 16.50% during the forecast period.
Disclosure management involves specialized software applications to streamline disclosure processes, improve accuracy, and reduce errors and omissions for organizations. These software solutions provide a centralized platform for managing data and content, creating reports, tracking changes, and ensuring compliance with regulations. They offer templates, workflows, and data collection tools, aiding collaborative and flexible disclosure procedures while reducing costs. Disclosure management software is crucial to manage risk in financial reporting amid changing market conditions and regulatory demands. The US SEC mandates have increased the demand for efficient disclosure management solutions to avoid errors and penalties.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.03 billion |
| Market Size (2028) | USD 2.20 billion |
| CAGR (2023-2028) | 16.50% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Need for collaborative and flexible disclosure processes. |
| Government mandates and regulatory demands. |
Who are the Top Companies in the Global Disclosure Management Market?
The market is moderately fragmented and highly competitive, with multiple international players. The companies continually update their existing solutions and form partnerships to expand their geographical presence.
The significant players in the global disclosure management market are,
- SAP SE
- Oracle Corporation
- Workiva Inc.
- Insightsoftware
- LucaNet AG
- DataTracks
- Tagetik Software S.r.l. (Wolters Kluwer NV)
- CoreFiling Limited
- Trintech Inc.
- IRIS Carbon (IRIS Business Services)
- Donnelley Financial Solutions (DFIN)
- OCR Services Inc.
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Key Highlights from the Global Disclosure Management Market Report:
Increasing Demand from BFSI Sector
- The BFSI (banking, financial services, and insurance) vertical is expected to dominate the market in the coming years due to efficient business disclosure management needs driven by digital transformation and hyper-personalized services.
- Managing complex regulatory environments and distributing required disclosures comprise a significant portion of customer communications, necessitating effective disclosure management.
- The need for risk minimization and fraud prevention through automated solutions contributes to the adoption of disclosure management in the BFSI sector.
North America Maintaining Market Dominance
- The North American disclosure management market is expected to grow significantly due to the technological advancements and regulatory demands in the United States and Canada.
- Compliance with industry regulations is crucial for competitiveness, leading to the adoption of cloud deployment and 24/7 accessible information.
- Companies in the region are adopting disclosure management solutions to improve the quality of disclosures and avoid errors. New regulations, such as those for investment firms, are driving the adoption of effective disclosure management solutions in response to market events.
What are the Latest Developments in the Global Disclosure Management Market?
- In March 2022, Wolters Kluwer Governance, Risk & Compliance (GRC) acquired International Document Services Inc. (IDS) from The Reynolds and Reynolds Company.
- In January 2022, Verisma received funding from NewSpring Healthcare to develop and deploy innovative solutions that meet the evolving needs of healthcare providers.
Mordor Intelligence has Segmented the Global Disclosure Management Market Based on Component, Deployment Type, End-user Industry, and Geography.
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Software
- Services
- By Deployment Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- On-Premises
- Cloud
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- BFSI
- IT and Telecom
- Healthcare
- Retail
- Manufacturing
- Other End-User Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Rest of the World
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Disclosure Management Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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