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The regtech market size is forecast to increase by USD 15.67 billion between 2022 and 2027, accelerating at a CAGR of 21.18%. In 2017, the US held the largest market share, projecting an annual revenue of USD 1.53 billion. The report offers extensive research analysis on the RegTech Market, with a categorization based on Component, including Solutions and Services. It further segments the market by End-user , encompassing Large enterprises, Small, and medium enterprises. Additionally, the report provides geographical segmentation, covering North America, Europe, APAC, South America, and Middle East and Africa. Market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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The need for identifying financial crime is a key factor driving the market growth. The global RegTech market is being driven by the growing need to detect financial crimes within financial organizations, including fraud, money laundering, and corruption. These organizations handle a high volume of financial transactions, making them vulnerable to illegal activities. Manual analysis of this vast data is time-consuming, so RegTech is increasingly used for real-time fraud detection. It uses analytics and automation to identify financial crimes and provides timely alerts.
RegTech also offers intelligent process automation to speed up routine tasks and reduce errors, creating a fast and secure financial chain with lower risk of financial crimes. Major vendors like IBM offer RegTech solutions to help detect financial crimes. As a result, the demand for RegTech to combat financial crimes is expected to drive the market's growth.
The solutions segment was valued at USD 4.34 billion in 2017 and continued to grow until 2021. In this segment, the key solution segments within the global RegTech market include risk and compliance management solutions, regulatory reporting solutions, identity verification and KYC solutions, transaction monitoring solutions, and data governance and privacy solutions. The RegTech solutions segment continues to evolve as new regulatory challenges emerge and businesses seek innovative technologies to address compliance needs efficiently. The increasing complexity of regulations and the growing number of data breaches are expected to drive the growth of the global RegTech market during the forecast period.
North America is estimated to contribute 33% to the growth of the global market during the forecast period. North American financial institutions were early adopters of RegTech solutions, mainly with the aim of reducing compliance costs by leveraging advanced technologies, such as AI, machine learning (ML), blockchain, big data, and cloud computing. North America comprises developed economies, such as the US and Canada. These countries are significantly advanced in terms of technology and application deployments. Moreover, stringent regulations and the need to comply with them are expected to drive market growth in North America.
The US is the key contributor to market growth in this region as it has the world's largest and one of the most liquid financial markets. The financial sector is very crucial to the country, as it supports the growth of other sectors. For instance, financial services and products help in facilitating the export of manufactured goods and agricultural products in the US by providing financial assistance. The growing portfolio of financial products and offerings will increase the demand for enhanced safety across the financial operations of these institutions, which is estimated to drive the regional RegTech market during the forecast period.
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The RegTech Market is fragmented in nature. Some significant players include ACTICO GmbH, Ascent Technologies Inc., Broadridge Financial Solutions Inc., ComplyAdvantage, Confluence Technologies Inc.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Acuant Inc., Hummingbird RegTech Inc., Intrasoft Technologies, International Business Machines Corp., MetricStream Inc., Mitratech Holdings Inc., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., SymphonyAI Sensa LLC, Thomson Reuters Corp., Trulioo Information Services Inc., VERMEG Ltd Legal, Wolters Kluwer NV, and Deloitte Touche Tohmatsu Ltd.
The regtech market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
RegTech Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.18% |
Market growth 2023-2027 |
USD 15.67 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
19.9 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACTICO GmbH, Ascent Technologies Inc., Broadridge Financial Solutions Inc., ComplyAdvantage, Confluence Technologies Inc., Acuant Inc., Hummingbird RegTech Inc., Intrasoft Technologies, International Business Machines Corp., MetricStream Inc., Mitratech Holdings Inc., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., SymphonyAI Sensa LLC, Thomson Reuters Corp., Trulioo Information Services Inc., VERMEG Ltd Legal, Wolters Kluwer NV, and Deloitte Touche Tohmatsu Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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