The Global Regtech Market Size was Valued at USD 12.54 Billion in 2023 and the Worldwide Regtech Market Size is Expected to Reach USD 81.48 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: 3M, PwC, NICE Actimize, Accuity, IBM, ACTICO GmbH, BWise, London Stock Exchange Group plc., Deloitte, Broadridge Financial Solutions Inc., Comprendo, Infrasoft Technologies Ltd., Wolters Kluwer, and other key companies.
New York, United States , July 17, 2024 (GLOBE NEWSWIRE) -- The Global Regtech Market Size is to Grow from USD 12.54 Billion in 2023 to USD 81.48 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 20.58% during the projected period.
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Regtech refers to the application of technology to the management of financial sector regulatory processes. Regtech helps businesses comply with regulations more easily by utilizing cloud computing and software-as-a-service (SaaS) technologies. It provides regulatory monitoring, reporting, and compliance in addition to providing several tools for real-time online transaction analysis to identify issues or anomalies in the realm of digital payments. It automates a lot of tasks, such as audit trail features, staff surveillance, compliance data management, and fraud protection. Businesses can use the time, money, and resources that were previously devoted to regulatory compliance for other purposes. Furthermore, customers might buy products and services with ease due to online payment gateways and online payment options. They are useful because they enable cashless online shopping. They also provide a range of promotions and cashback choices, which motivates more people to use online payment gateways. Furthermore, the rapid digital transformation of payment transaction processing is driving banks to offer advanced payment solutions to their customers. This is having a beneficial effect on the need for regtech services, and the regulatory landscape is changing due to the rise in online payments. However, the market is moderately consolidated, with a few prominent firms operating across many regions. Furthermore, substantial storage facilities are required for large regtech, which hinders the expansion of the global regtech market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Regtech Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions and Services), By Application (Anti-Money Laundering (AML) & Fraud Management, Regulatory Intelligence, Risk & Compliance Management, and Regulatory Reporting), By Deployment Mode (On-Premises and Cloud-Based), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solutions segment is anticipated to hold the greatest share of the global regtech market during the projected timeframe.
Based on the component, the global regtech market is divided into solutions and services. Among these, the solutions segment is anticipated to hold the greatest share of the global regtech market during the projected timeframe. Regtech solutions handle regulatory operations and processes, including compliance, reporting, and monitoring, by utilizing cutting-edge technologies and tools. They are used by businesses in the public and private sectors to avoid the ever-increasing costs of complying with regulations and the frequently modified, unduly complex rules that apply to both domestic and overseas markets.
The regulatory intelligence segment is expected to grow at the fastest CAGR in the global regtech market during the projected timeframe.
Based on the application, the global regtech market is divided into anti-money laundering (AML) & fraud management, regulatory intelligence, risk and compliance management, and regulatory reporting. Among these, the regulatory intelligence segment is expected to grow at the fastest CAGR in the global regtech market during the projected timeframe. It is primarily propelled by its increasing prevalence in sectors such as financial services, insurance, and banking, among others. Regulatory intelligence, a crucial instrument for monitoring, gathering, and assessing regulatory data, is necessary for navigating a dynamic environment. This process enables adaptable research analysis and adeptly monitors changes in the regulatory environment.
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North America is expected to hold the largest share of the global regtech market over the forecast period.
North America is expected to hold the largest share of the global regtech market over the forecast period. Contributing elements include robust financial institutions, intricate and dynamic regulatory frameworks, widespread technological use, and a proactive attitude to compliance. The region is home to a large number of financial institutions, tech-savvy startups, and regulatory issues, so there's a strong need for innovative solutions that might speed up compliance processes and aid companies in navigating legally difficult environments.
Asia Pacific is predicted to grow at the fastest pace in the global regtech market during the projected timeframe. This is attributed to the fact that many businesses in the region including those in China, India, Singapore, and Australia are adopting new technology and undergoing a fast digital transition. The importance of effective regulatory compliance is growing as global firms interact with several regulatory frameworks and expand. Therefore, the focus on financial services and the variety of regulations it offers are what propel the expansion of the global regtech market share.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Regtech Market include 3M, PwC, NICE Actimize, Accuity, IBM, ACTICO GmbH, BWise, London Stock Exchange Group plc., Deloitte, Broadridge Financial Solutions Inc., Comprendo, Infrasoft Technologies Ltd., Wolters Kluwer, and others.
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Recent Developments
- In March 2022, Actico, a leading provider of AI-driven digital decision-making solutions worldwide, has teamed up with Coinfirm, a well-known cryptocurrency analytics and anti-money laundering company. As a result of the new arrangement, banks and other financial service providers will have immediate access to the ACTICO Compliance Suite for the purpose of looking into and evaluating money laundering risks related to cryptocurrency transactions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Regtech Market based on the below-mentioned segments:
Global Regtech Market, By Component
- Solutions
- Services
Global Regtech Market, By Application
- Anti-Money Laundering (AML) & Fraud Management
- Regulatory Intelligence
- Risk & Compliance Management
- Regulatory Reporting
Global Regtech Market, By Deployment Mode
- On-Premises
- Cloud-Based
Global Regtech Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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