The whistleblowing software market size is projected to reach US$ 359.28 million by 2031 from US$ 169.67 million in 2023. The market is expected to register a CAGR of 9.8% in 2023–2031. The rise in the popularity of multilingual whistleblowing software and the need to ensure the safety and security of employees are likely to remain key market trends.
Whistleblowing Software Market Analysis
The increase in dishonest and unethical behavior within organizations will accelerate the adoption of software. A greater need to protect employee safety due to an increase in cybercrimes within the company fuels the demand for software. Additionally, the software provides executives and boards with reports and insights. It provides operational risk mitigation, informed decision-making, and legal mitigation. It is projected that these attributes will propel market expansion.
Whistleblowing Software Market Overview
Organizations can identify workplace issues such as fraud, harassment, theft, embezzlement, corruption, and more by using whistleblowing software, a type of issue management solution that gives employees anonymous reporting options. Whistleblowing solutions, also known as hotlines, helplines, or case management solutions, are intended to address problems such as fraud, misconduct, and unethical behavior that conflict with an organization's principles or policies. Anonymous two-way communication can be facilitated through online or mobile platforms offered by these issue management solutions. They also offer analytics tools to identify areas where misconduct is common, as well as tools for organizations to receive reports and look into the allegations.
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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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Whistleblowing Software Market Drivers and Opportunities
Whistleblower Protection to Fight Corruption to Favor Market
According to Organisation for Economic Co-operation and Development (OECD), Whistleblower protection is defined as “protecting and/or providing a remedy against any retaliatory action to persons working in the private or public sector who report on reasonable grounds suspected acts of bribery of foreign public officials in international business transactions and related offenses in a work-related context. Thus, whistleblower protection is crucial for detecting misconduct, fostering transparency, and promoting integrity, which in turn drives the demand for whistleblowing software.
Government Support to SMEs – An Opportunity in the Whistleblowing Software Market
SMEs are major contributors to economic growth as they account for the majority of businesses worldwide, about 90%. However, due to financial constraints, the growth of SMEs slows down. Thus, the government sector and organizations are constantly supporting SMEs to expand their business, which further contributes to the economic growth of any country. As businesses are going digital, the adoption of software for securing company data has become the fundamental aspect of any organization. Government support to provide financial aid to SMEs boosts their capability to leverage advanced solutions to secure their company’s critical information. Thus, government support for SMEs contributes to huge opportunities for the whistleblowing market growth. Some of the government support is mentioned below:
- In Europe, a network of European Digital Innovation Hubs or the Enterprise Europe Network offers help for SMEs to adopt digital tools securely. They provide solutions such as raising awareness, assessing digital maturity, access to finance, offering mentoring, and facilitating experimentation with digital tools.
- According to the Capterra India Survey in August 2023, around 40 percent of respondents received government funding for digitalization at least once, and around 20 percent received it multiple times. In addition, Indian government initiatives such as the RAMP programme, MSME Innovative Scheme, ASPIRE scheme, and more are focused on boosting SMEs' digitalization.
Whistleblowing Software Market Report Segmentation Analysis
Key segments that contributed to the derivation of market analysis are deployment type and enterprise size.
- Based on deployment type, the market is segmented into cloud and web-based. The web-based segment held a larger market share in 2023.
- By enterprise size, the market is segmented into SMEs and large enterprises. The large enterprises segment held the largest share of the market in 2023.
Whistleblowing Software Market Share Analysis by Geography
The geographic scope of the whistleblowing software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, Asia Pacific is expected to grow with the highest CAGR in the market during the forecast period, as there are more small and medium-sized businesses in Asia Pacific. In the next years, it is projected that government laws and whistleblower policies will sharply accelerate market expansion. It is anticipated that market progress will be aided by the growing global need to guarantee the safety and security of employees.
Whistleblowing Software Market Report Scope
Whistleblowing Software Market News and Recent Developments
The Whistleblowing Software Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In March 2024, Formalize, a provider of whistleblowing software, announced the successful completion of the Series A funding round, securing approximately US$ 15.93 million (EUR 15 million) led by BlackFin, one of Europe's largest private equity funds. (Source: Formalize, Press Release, 2024)
- In February 2021, the International Testing Agency (ITA) launched its own doping reporting platform called ‘reveal’ in order to offer additional opportunities to report doping offenses. (Source: International Testing Agency (ITA), Press Release, 2021)
Whistleblowing Software Market Report Coverage and Deliverables
The “Whistleblowing Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
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 global whistleblowing software market is expected to reach US$ 359.28 million by 2031.
The key players holding majority shares in the global whistleblowing software market are Applied Satellite Technology Ltd.; Addvalue Technologies; Beijing Highlander Digital Technology Co., Ltd.; BlueTraker; and CLS.
Integration with machine learning (ML) and artificial intelligence (AI) analysis technology is anticipated to play a significant role in the global whistleblowing software market in the coming years.
The rise in the popularity of multilingual whistleblowing software and the need to ensure the safety and security of employees are the major factors that propel the global whistleblowing software market.
The global whistleblowing software market was estimated to be US$ 169.67 million in 2023 and is expected to grow at a CAGR of 9.8% during the forecast period 2023 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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