The whistleblowing software market expected to grow from US$ 81.16 million in 2019 to US$ 149.30 million by 2027; it is estimated to grow at a CAGR of 9.6% from 2020 to 2027.
Increasing popularity of multilingual whistleblowing software is attributing to the growth of the market. Companies involved in the market are focusing on rolling out whistleblower policy programs and bringing them into various countries. Besides, governments and large companies need to serve multilingual users in their countries. Organizations want courageous conversations with employees and receive the report of misconduct, if any, to help employees feel comfortable. It is obvious that employees make a report about whistleblowing in their native language; but according to the Association of Certified Fraud Examiners, for multinationals, the default language is English. Whistleblowing software helps localize the language and encourages courageous conversations among employees. Communicating in the native language encourages employees to report the issues, identifying the organization's existing blind spots. Thus, multilingual software for whistleblowing leads to increased reporting of misconduct and fraud. Besides, whistleblowers identify around 40% of fraud cases, compared with only 15% discovered by internal audit. Therefore, it has become crucial to have a localized whistleblowing software program for any organization comprising multilingual employees.
Furthermore, more reporting may identify more risks, which is a vital objective of any whistleblower software. For example, Whispli's whistleblowing software is currently available in 34 languages including Arabic, Belarusian, Czech, English, French, German, Italian, and Japanese. Thus, with the increasing need and popularity of the software, the trend of multilingual whistleblowing software is anticipated to impact the growth of the market in the coming years.
Impact of COVID-19 Pandemic on Whistleblowing Software Market
The coronavirus outbreak has created challenges for the whistleblowing program. One of the major challenges is generated due to the remote working, which limits the organization’s visibility of employee issues and disputes, thereby hindering the effectiveness of normal channels of reporting for staff to flag issues. Moreover, there may be delays or failure to respond to the reports made by the employees as the people involved in the whistleblowing program might have other critical strategic responsibilities. Also, the third parties involved in the whistleblowing programs might not be able to perform efficiently as they might experience disruptions in their operations due to the spread of the pandemic. With the imposition of lockdown across countries in North America, Europe, APAC, MEA, and SAM, several sectors have been witnessing shattering experience. Moreover, the companies are cutting their IT spending, which might affect the sales of the whistleblowing software. Therefore, COVID-19 is expected to have a short-term adverse impact on the whistleblowing market
Lucrative Regions in Whistleblowing Software Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights–Whistleblowing Software Market
Significant Initiatives by Several Leading Companies and Regulators
Whistleblowing encourages organizations to provide a combination of different reporting channels to enhance access to potential reporters in a way that suits their individual needs. There is a growing consensus that digital reporting systems, such as whistleblowing software, offers more advantages. Therefore, market players take significant technological development initiatives and perform organic and inorganic growth strategies to maintain a competitive edge and boost revenue growth. For example, in September 2019, Convercent partnered with StoneTurn; the relationship is designed to provide organizations with increased value by combining state-of-the-art technology with advisory expertise to solve the most challenging corporate ethics and compliance challenges.
Similarly, in December 2019, NAVEX Global announced the acquisition of WhistleB, an innovative whistleblowing solution provider based in Stockholm, Sweden. Acquisition aimed to strengthen the presence of NAVEX Global in Europe and the ability to accelerate international growth, as the demand for automated compliance solutions is on the rise across the world. Furthermore, the proliferation of regulatory requirements, including the EU Whistleblower Protection Directive, GDPR, and emerging standards, such as ISO 37002 whistleblowing system management, will contribute to the increasing demand for whistleblowing software in the coming years. Thus, significant technological development initiatives taken by leading market players are anticipated to provide growth opportunities to the whistleblowing software market during the forecast period.
Deployment Type-Based Insights
Based on deployment type, the whistleblowing software market is segmented into web-based and cloud-based. The web-based segment held the largest market share in 2019.
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Whistleblowing Software Market: Strategic Insights
Market Size Value in US$ 81.16 Million in 2019 Market Size Value by US$ 149.30 Million by 2027 Growth rate CAGR of 9.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2019
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Whistleblowing Software Market: Strategic Insights
| Market Size Value in | US$ 81.16 Million in 2019 |
| Market Size Value by | US$ 149.30 Million by 2027 |
| Growth rate | CAGR of 9.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2019 |
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Players operating in the whistleblowing software market are mainly focused on the development of advanced and efficient products.
- In 2020, EQS Group AG collaborated with KPMG in area of whistleblower systems to offer an integrated compliance solution.
- In 2020, The Vault Platform Ltd. joined London Stock Exchange’s Issuer Services Marketplace to assist public companies in developing and maintaining a culture for practicing ethics and integrity.
The whistleblowing software market has been segmented as follows:
Whistleblowing Software Market – by Deployment Type
- Cloud
- Web-Based
Whistleblowing Software Market – by Organization Size
- SMEs
- Large Enterprises
Whistleblowing Software Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Russia
- U.K
- Rest of Europe
Asia Pacific (APAC)
- Japan
- China
- Australia
- India
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Whistleblowing Software Market – Company Profiles
- Business Keeper AG
- Canary Whistleblowing System
- Convercent
- Deloitte
- Ethicontrol
- EthicsGlobal, LLC
- Got Ethics A/S
- Hello Ethics (ILLIX USA LLC)
- NAVEX Global, Inc.
- Whispli Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment Type ; Enterprise Size ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The North America region led the whistleblowing software market in 2019. Several acts, projects, and laws are declared by the government to boost the adoption of whistleblowing software across the organization present in the region. For instance, in Washington, DC, The Government Accountability Project focuses majorly on promoting the government and corporate accountability by protecting whistleblowers, empowering citizen activists, and advancing occupational free speech. . The Whistleblower Protection Act (WPA), Whistleblower Protection Enhancement Act (WPEA), and The National Defense Authorization Act of 2013 (NDAA) are among the other Acts implemented in the region. All these Acts implemented by the government enhance the adoption of whistleblowing software across the organization, creating a huge opportunity for the whistleblowing software providers to expand their business.
Technological advancements in software to protect identities of whistleblowers is one of the major driving factors. Whistleblowing software addresses misconduct, fraud, and unethical behavior, which is not aligned with the organization’s policies or values. The adoption of software helps both employees and customers raise their queries or concerns they face within the organization; then these insights are provided directly to the management for handling the issue and take action. Moreover, whistleblowers, who are at risk, use encryption methods and anonymous content-sharing software to protect their identity from those who are exposed.
The web-based segment led the whistleblowing software market. Web-based deployments enable end users to preserve all their business information and current internal systems. The web-based whistleblowing systems are categorized as open source software, custom-built bespoke platforms, and for-profit packages marketed at private firms. In the last few years, the companies are skipping the whistleblowing phone hotlines for reporting and are instead shifting toward web-based systems. The whistleblowing web-based software are more secure, and provide higher quality reports and enhanced functionality. Companies prefer implementing secure, user-friendly, and web-based systems, which incorporate case management tools and reporting channels.
The List of Companies - Whistleblowing Software Market
- Business Keeper AG
- Canary Whistleblowing System
- Convercent
- Deloitte
- Ethicontrol
- EthicsGlobal, LLC
- Got Ethics A/S
- Hello Ethics (ILLIX USA LLC)
- NAVEX Global, Inc.
- Whispli Inc.
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