North America Sees Surge in Sustainability Reporting, Fueling Demand for Disclosure Management Solutions

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Nov 02, 2023, 06:30 ET

DUBLIN, Nov. 2, 2023 /PRNewswire/ -- The "Disclosure Management Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The global disclosure management market is poised for substantial growth, with predictions of reaching USD 2.127 billion by 2028, up from USD 1.016 billion in 2023. This robust growth is projected to occur at a CAGR of 15.91% during the forecast period (2023-2028).

Disclosure management, a critical component of reporting, assists organizations in creating and editing visually labeled extensible business reporting language (XBRL) filings for regulatory bodies like the SEC. Financial data and supporting documents can be compiled in familiar formats, such as Microsoft Excel or Word, and then transformed into PDF, XBRL, HTML, or EDGAR formats.

Key Trends Driving the Disclosure Management Market

1. BFSI Sector Takes the Lead: The Banking, Financial Services, and Insurance (BFSI) sector is expected to dominate the market during the forecast period. The BFSI industry leverages disclosure management solutions to streamline business disclosure processes, adapt to digital transformations, and ensure regulatory compliance. As regulatory requirements become more complex, the application of disclosure management in this sector is on the rise, with Asia-Pacific emerging as a significant player.

2. Asia-Pacific's Digital Banking Boom: The Asia-Pacific region, including developing countries in Southeast Asia, is witnessing rapid growth in the BFSI sector, driven by digitalization efforts. Major economies like India and China are at the forefront of this transformation, attracting both new and existing customers. Malaysia is also making significant strides in digital banking. The banking and financial sector in the region has gained global trust for securing consumers' data.

3. Cloud-Based Solutions Drive Compliance: Organizations adopting purpose-built cloud-based disclosure management software are reinforcing their regulatory compliance frameworks and governance. Automation is a top priority for shared services executives, indicating a growing adoption of disclosure management solutions in the market.

4. North America's Technological Advancements: The North American disclosure management market is set to expand significantly, propelled by technologically advanced countries like the United States and Canada. Companies in the region are embracing disclosure management solutions to cope with the complexities of reporting and to maintain compliance with industry regulations. Cloud deployment models and 24/7 data accessibility are gaining popularity, especially among large enterprises.

5. Sustainability Reporting on the Rise: Sustainability reporting is gaining traction in North America, requiring companies to disclose environmental impacts alongside financial metrics. This trend is expected to drive further demand for disclosure management solutions in the region.

Companies Mentioned

SAP SE
Oracle Corporation
Workiva Inc.
insightsoftware
LucaNet AG
DataTracks
Tagetik Software Srl (Wolters Kluwer NV)
CoreFiling Limited
Trintech Inc.
IRIS Carbon (IRIS Business Services)
Donnelley Financial Solutions (DFIN)
OCR Services Inc.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Assessment of the Impact of COVID-19 on the Market

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Complexity in the Reporting Process Characterized by Different File Formats
5.1.2 Worldwide Integration of Business
5.2 Market Restraints
5.2.1 Multiple Constraints Related to Regulatory Disclosure Processes

6 MARKET SEGMENTATION
6.1 By Component
6.1.1 Software
6.1.2 Services
6.2 By Deployment
6.2.1 On-premises
6.2.2 Cloud
6.3 By End-user Industry
6.3.1 BFSI
6.3.2 IT and Telecom
6.3.3 Healthcare
6.3.4 Retail
6.3.5 Manufacturing
6.3.6 Other End-user Industries
6.4 By Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Rest of the World

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/11s56

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