Anti-Money Laundering Market is estimated to touch USD 21.1 billion in 2028, registering 15.2% CAGR during 2021-2028 | Size, Share & Forecast

Anti-Money Laundering Market

Anti-Money Laundering Market was valued at USD 6.8 billion in 2020 and is projected to touch USD 21.1 billion in 2028 growing at a high CAGR of 15.2%

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/anti-money-laundering-market-analysis-industry-research/

The factors driving the growth of Anti-Money Laundering (AML) Market includes increasing use of money laundering software for detecting suspicious transactions and customer data, rising volumes of digital transactions around the world, Government regulations to restrict money laundering related crimes and improvements in the living standards. According to the report published by Statista, the digital transactions across India were estimated more than 35 billion worth over INR 60 trillion during FY 2021 and is expected reach over 214 billion in financial year 2026, which will accelerate the Anti-Money Laundering Market size in the approaching years. Moreover, technological advancements ion anti-money laundering software, increasing use of AML solutions to detect anomalies, identify patterns which indicate possibility of money laundering and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rise in the launch of innovative products, strategic mergers and collaborations between key industry players and growing population growth rates, are further contributing towards the market growth.

However, growth of the Anti-Money Laundering Market is hindered due to complexities in AML solutions.

The major players operating in the market are LexisNexis Risk Solutions Groups, FIS, Fiserv, Inc., ACI Worldwide, BAE Systems, NICE, DIXITIOR, SAS Institute Inc., Oracle and Experian Information Solutions, Inc., among others.

Based on Deployment Mode, the On-Premises segment is predicted to grow at a significant CAGR during the forecast period

On-premises AML solutions help companies to control platforms, applications, and systems, and allows IT staff to handle data, are some of the features pushing growth of the segment.

Based on End User, the Banking and Financial segment is projected to expand at a remarkable CAGR over the forecast period

Raising incidences of fraud and financial crimes in the banking sector and growing demand for automated technologies, are propelling growth of the segment. 

Based on Region, the North American region is anticipated t o hold the highest market share during the forecast period

Presence of the leading players such as Experian Information Solutions, Inc., Oracle and Fiserv, Inc., growing adoption of advanced technologies by manufacturers, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Development

In 2020, NICE enhanced the SURVEIL-X, a holistic trade surveillance solution, which improved the Financial Services Organization to rapidly create, test, and implement the custom analytics risk detection models.

Market Segmentation

Segmentation by Component

Solutions
Services

Segmentation by Deployment Mode

Cloud
On-Premises

Segmentation by Organization Size

Small and Medium-sized enterprises
Large Enterprises

Segmentation by End User

Banking and Financial
Insurance Providers
Gaming

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.