The Whistleblowing Software market is estimated to be valued at US$ 229.4 Bn or Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Whistleblowing software is a tool used by organizations to enable internal and external stakeholders to report unethical, dangerous or illegal activities anonymously and confidentially. These software provide secure and anonymous reporting channels with various options such as phone, email, web portal or mobile applications. They help companies comply with regulations while ensuring confidentiality and safety of whistleblowers. With the rise in corporate regulations promoting transparency, whistleblowing software market is gaining significant traction.
Market Dynamics:
Increased corporate regulations for transparency: Stringent regulations such as Sarbanes–Oxley Act and Dodd–Frank Act promote establishment of anonymous whistleblowing mechanisms in companies. Non-compliance can result in heavy fines. This is a key factor driving the demand for whistleblowing software.
Rising concerns over unethical practices: Increase in instances of corruption, financial irregularities and discrimination in organizations has raised concerns over transparency and ethical conduct of businesses worldwide. Whistleblowing software provides a safe platform to report such issues confidentially thus propelling market growth.
French
English
Arabic
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek