Market Overview:
Whistleblowing software, also known as ethics hotlines software, is a secure reporting system that allows employees, suppliers and customers to confidentially report misconduct within an organization while maintaining anonymity. It provides an easy and secure way for individuals to report suspected unethical, unsafe, illegal or improper conduct through phone calls, websites, email or mobile apps. The software securely captures, triages, assigns and tracks reports until resolution.

Market key trends:
One of the key drivers for the growth of the whistleblowing software market is the increasing compliance and risk management needs across various industries. Stringent regulations such as Sarbanes-Oxley Act 2002 and Dodd-Frank Act 2010 have mandated companies to establish internal mechanisms to report and address misconduct and unethical behavior. Additionally, organizations are increasingly recognizing the benefits of early risk detection provided by such software tools. Moreover, rising number of data breaches and high-profile incidents have increased awareness about the need for robust whistleblowing systems. The anonymous and secure nature of online reporting tools encourage more individuals to report issues, thereby enhancing internal controls. Technology advancements are also fueling innovations in whistleblowing platforms with features like AI, predictive analytics and 360-degree case management capabilities.

Key Takeaways

Market size: The global Whistleblowing Software Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period due to increasing focus on corporate governance and compliance from regulators globally.

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