The report titled “Global RegTech Market” assesses the RegTech market globally based on component, deployment mode, organization size, application, end-user, and region.
The comprehensive report provides a detailed historical and future market size with trend analysis for the Americas, Europe, the Middle East & Africa, and the Asia Pacific. RationalStat’s market report provides market share analysis by leading players, production capabilities of the top companies, trade data, new product launches, technological overview, technical updates, end user overview, Covid-19 impact analysis, competition analysis, market strategies, and potential growth areas for the target players.
Market Overview and Dynamics: Growing need of RegTech to prevent fraudulent activities is expected to fuel the growth of the Global RegTech Market
The global RegTech market is expected to grow at a CAGR of around 16% during the forecast period of 2022-2028. RegTech provides improved operating speeds, agility, integration, and analytics capabilities and aids in the digitalization of manual reports and compliance processes. The emergence of cybercrime and fraud incidents are some of the prominent factors affecting the growth of the global RegTech market.
Moreover, the increasing cybercrime incidents have led many firms and end users to adopt RegTech for fraud prevention, anti-money laundering (AML) screening, etc. RegTech is therefore heavily utilized in many banking and financial services, including transaction monitoring, screening, client credit rating, trade data tracking, and risk analysis.
In addition, the growing prevalence of AML and customer due diligence (CDD) even in the non-financial sectors is expected to fuel the demand for RegTech in the forthcoming years. Besides, as government rules and policies change, there is an increasing need in the market for major improvements to reported data quality across numerous regimes and countries, which is boosting the growth of the RegTech market.
Global Regtech Market: Segmental Analysis by RationalStat
- Based on the deployment mode, the cloud platform holds a prominent share as it is used to standardize compliance processes, find abnormalities, and fix technical problems with digital payment networks. Whereas, on-premise segments hold a significant market share in the global RegTech market.
- Based on End-use, the BFSI segment holds a prominent share in the global RegTech market owing to the increased cases of financial data loss.
- Based on region, Europe holds a dominant share of the global RegTech market as the adoption of RegTech is expected to flourish owing to the MiFID II legislation of the European Parliament.
Competition Analysis: The favorable government policies and initiatives are expected to lead the growth of the global RegTech market in the upcoming years
Due to the presence of many well-established companies in the global RegTech market, there is intense competition in the global RegTech market. The global RegTech market is expected to witness growth in the forthcoming years as developed nations are investing heavily to adopt RegTech. Moreover, fintech solutions are being implemented across various corporate processes in fats growing economies.
Acquisitions, product launches, and partnerships are the identified industry trend in the global RegTech market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Significant consolidation is expected in the global RegTech market during the forecasting period 2022-2028.
- In January 2022, Trulioo announced its partnership with PassFort, a leading provider of software-as-a-service regulatory technology solutions. By working together, PassFort and Trulioo will give regulated businesses a way to digitally transform Know Your Customer (KYC) and Know Your Business (KYB) processes, regardless of where in the world the business is located or where its clients are located.
- In December 2021, MetricStream announced greater insight into third- and fourth-party risks, intuitive risk assessments, expanded compliance risk management tools, and new native capabilities for advanced cyber risk quantification and simulation to quantify cyber risk in monetary terms.
Leading market players operating in the global RegTech market include Deloitte Touche Tohmatsu Limited, Thomson Reuters, PricewaterhouseCoopers, Ascent Technologies Inc., Broadridge Financial Solutions Inc., Wolters Kluwer NV, IBM Corporation, Accuity, MetricStream, and Trulioo among others.
RationalStat has segmented the global RegTech market on the basis of component, deployment mode, organization size, application, end-user, and region.
- By Component
- By Deployment Mode
- By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- By Application
- Risk & Compliance Management
- Identity Management
- Regulatory Reporting
- Anti-money Laundering (AML) and Fraud Management
- Regulatory Intelligence
- By End User
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecom
- Energy & Utilities
- Others (Government & Public Sector)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
For more information about this report: https://store.rationalstat.com/store/global-regtech-market-investment-growth-opportunity-analysis/
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