The global disclosure management market size is expected to grow from USD 493.0 Million in 2017 to USD 1,066.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% during 2017–2022. The key factors that are expected to drive the growth of the disclosure management market include increasing expansion of enterprises across the globe, and the need for solutions to integrate the financial data across various locations to publish financial documents and make better strategic decisions.
The need to comply with industry regulations to sustain the market competition is one of the key factors expected to fuel the growth of this market. Additionally, the growing business expansion, particularly in the developing countries of Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, is expected to increase the adoption of disclosure management solutions and related services, which in turn, would create further opportunities for the growth of this market.
The major vendors providing disclosure management software and services are SAP (Germany), Oracle (US), Certent (US), IRIS Business Services (India), Workiva (US), CoreFiling (UK), DataTracks (India), LucaNet (Germany), OCR Services (US), Trintech (Australia), and Lecorpio (US).
In terms of market share, North America is expected to hold a dominant position during the forecast period. This is mainly due to the presence of various developed economies, such as Canada and the US, and enterprises’ focus on innovating the existing solutions. North America is a hub for developing technologies and the home for technology startups. Therefore, the region is expected to have the largest market share during the forecast period. The early adoption of technologies and stringent regulations in multiple verticals, such as IT and telecom, manufacturing, healthcare, transportation, and logistics, are also expected to drive the market growth in North America.
APAC is expected to grow at the fastest growth rate during the forecast period, due to the constant focus of enterprises on improving their offerings to enhance the customer experience while simultaneously complying with industry regulations. Furthermore, technology penetration is increasing in the region to accelerate the business productivity, which has led APAC to become a potential market in the recent years.
