Transaction Monitoring Software Market Research, Forecast by Application (Anti-Money Laundering (AML), Customer Identity Management, Fraud Detection & Prevention (FDP), Compliance Management)

According to the report, the global transaction monitoring software market was estimated at $7.95 billion in 2018 and is expected to hit $25.41 billion by 2026, registering a CAGR of 15.70% from 2019 to 2026.

Increase in digitization of payment transactions, surge in need for mitigating money laundering, managing KYC compliance and CTF activities, growing identification of high-risk activities through advance analytics, and high demand for organizations to comply with stringent regulatory agreements fuel the growth of the global transaction monitoring software market. On the other hand, lack of transaction monitoring and AML professionals, and difficulties in managing cross-border as well as multi-jurisdictional AML-compliance curtail down the growth to some extent. However, integration of advance technology, and rise in the deployment of transaction monitoring system by SME's are projected to usher in a number of opportunities in the near future.

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The solution segment to dominate by 2026-

Based on component, the solution segment contributed to nearly three-fourths of the global transaction monitoring software market share in 2018, and is expected to dominate throughout the forecast period. Increase in adoption of this software by several bank and financial institutions, and stringent government regulations for data security are expected to drive the growth of the segment. The service segment, on the other hand, is projected to register the fastest CAGR of 15.70% during 2019-2026. This is due to surge in the adoption of different services in various organizations.

The on-premise segment to lead the trail during the study period-

Based on deployment model, the on-premise segment accounted for nearly three-fifths of the global transaction monitoring software market revenue in 2018, and is projected to retain its dominance by the end of the year 2026. Enhanced security features provided by on-premise model drive the growth of the segment. At the same time, the cloud-based segment would register the fastest CAGR of 17.40% throughout the study period. It's remotely accessible from anywhere around the world which, in turn, boosts the growth of the segment.

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North America generated the major share in 2018-

Based on geography, North America held the largest share in 2018, generating nearly two-fifths of the global transaction monitoring software market. This is because North American countries are expected to adopt transaction monitoring software at a high rate to bring great improvements in operational efficiency in IT infrastructure. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 17.50% by 2026. This is due to rise in digitalization in emerging economies such as China and India.

Leading market players-
• BAE Systems
• ACI Worldwide Inc.
• Fiserv Inc.
• Software AG
• Thomson Reuters Corporation
• FIS, Nice Ltd.
• Oracle Corporation
• Fair Isaac Corporation
• SAS Institute

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Key Findings of the Study:

• By component, the solution segment led the transaction monitoring software market size in terms of revenue in 2018.
• By organization size, the large enterprises accounted for the highest transaction monitoring software share in 2018.
• By region, North America generated the highest revenue in 2018.
• Depending on industry vertical, the government & defense segment is anticipated to exhibit substantial growth during the forecast period.

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