While a Burden for Corporate IT, Regulatory Compliance Creates Significant Opportunities for IT Vendors

IT departments are spending considerable efforts on creating, formalizing and automating processes, policies and procedures to address regulatory compliance requirements, a new IDC study reveals. The worldwide information management for compliance market will pass the $20 billion mark in 2009, and grow at a 22% compound annual growth rate through the 2005-2009 forecast period. The market forecast is built off of a market model that cuts across over 35 IDC software, hardware and services markets.

"A significant amount of risk and material weakness exists within IT systems," said Julie Rahal Marobella, senior research analyst, Information Management for Compliance at IDC. "As a result, there is an increased onus on IT departments to audit, monitor, and report on all systems. This increased need will drive organizations to invest in technologies and services that help to ensure sustainability of compliance-related processes, mitigate risk, and manage ongoing costs."

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