RegTech Market Expected to Grow $16.0 billion by 2025

According to research report "RegTech Market by Component (Solutions and Services), Application (Risk and Compliance Management, Identity Management, Regulatory Reporting, AML and Fraud Management), Vertical, Deployment Type, Organization Size, and Region - Global Forecast to 2025", size is expected to grow from USD 6.3 billion in 2020 to USD 16.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.3%.

The major drivers for the RegTech market include the increased cost of compliance, rising need for faster transactions, regulatory sandbox approach to support RegTech innovations, and lower entry barriers with Software as a Service (SaaS)-based offerings.

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Regulatory intelligence application to grow at the highest CAGR during the forecast period

Regulatory intelligence is the process of continuously monitoring and tracking various regulations and compliances. RegTech providers offer several tools for identifying and interpreting regulatory changes by providing a real-time catalog of various regulatory requirements. RegTech solutions process targeted information and data from multiple sources, analyze this data, and generate an output that outlines the risks and opportunities for formulating the most appropriate regulatory strategy. The adoption of RegTech solutions by financial institutions enables easy management of the changing regulatory environments and minimizes the risks related to non-compliance. The providers of RegTech solutions are incorporating Artificial Intelligence (AI) and Machine Learning (ML) to automate the tracking of global regulatory data.

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Large enterprises segment to hold a higher market shareduring the forecast period

The large enterprises segment is expected to hold a higher market share, as most publicly traded companies are compelled to adopt regulatory programs. Additionally, as rules and regulations keep altering as per industry and region, keeping a check on all the processes manually is not feasible, which further emphasizes on the importance of RegTech solutions and services. Service and consulting vendors, such as Deloitte, IBM, PwC, and Thomson Reuters assist large enterprises to realize the benefits of efficiently managing their business functions in accordance to the compliance mandates by enabling them to effectively implement RegTech solutions as per their business requirements.

North America is expected to hold the highest market share during the forecast period

As per the geographic analysis, North America is estimated to hold the highest market share during the forecast period. This is due to the early adoption of RegTech solutions by the North American financial institutions to reduce compliance cost by leveraging advanced technologies, such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, big data, and cloud computing. North America constitutes of developed economies, such as the US and Canada. These countries are significantly advanced in terms of technology and its application deployments. Stringent regulations and the need to comply with them are expected to drive the market growth in North America.

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The major vendors covered in the RegTech market include Accuity (US), ACTICO (Germany), Ascent (US), Ayasdi (US), Broadridge (US), Chainalysis (US), ComplyAdvantage (UK), Deloitte (UK), Fenergo (Ireland), London Stock Exchange Group (LSEG) (UK), IdentityMind (US), IBM (US), Jumio (US), MetricStream (US), Nice Actimize (US), Pole Star (UK), PwC (UK), Thomson Reuters (Canada), Trulioo (Canada), and Wolters Kluwer (The Netherlands).

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