Regtech Market to Reach $66.9 Billion by 2032, Growing at 22.6% CAGR | Key Players, Market Segments, Application Areas, And Market Growth Strategies.

According to the report, the global RegTech market was pegged at $5.46 billion in 2019, and is projected to reach $28.33 billion by 2027, growing at a CAGR of 22.3% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂
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Key determinants of the market-

Growth in focus for maintaining transparency in financial regulations and altering government policies & country regulations proliferate the global RegTech market. On the other hand, confirmation regarding secure management & privacy of consumer data restrain the market growth to certain extent. However, developing economies are expected to create a plethora of opportunities for the market players in the near future.

Covid-19 scenario:

The covid-19 outbreak has led to increase in adoption of online and digitalized financial services across the globe, which in turn impacted the market positively.
Since the world has undergone global lockdown to curb the spread of coronavirus, the software-as-a-service platforms offered by RegTech providers highly gained momentum.
The solution segment to dominate the market throughout the forecast period-

Based on component, the solution segment contributed to the largest share in 2019, with nearly three-fourths of the global RegTech market. The fact that regulatory firms are implementing solutions with better technology capabilities in order to improve their business operations drives the growth of the segment. On the other hand, the services segment is expected to portray the highest CAGR of 25.4% during the forecast period, as it processes & improves the effectiveness to meet customer's demand.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
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The on-premise segment to lead the trail throughout the forecast period-

Based on deployment type, the on-premises segment held the largest revenue share in 2019, accounting for nearly three-fifths of the global RegTech market. It provides full control over the whole infrastructure, including software & hardware which boosts its growth. Moreover, the cloud segment is anticipated to manifest the highest CAGR of 24.4% during the forecast period. This is owing to the need to reduce infrastructure investment. In addition, these solutions facilitate enterprises with real-time availability of operational and financial data, which further drives the growth of the segment.

North America to rule the roost throughout the forecast period-

The global RegTech market across North America dominated with the largest revenue share in 2019, generating more than one-third of the market. This is attributed to increased awareness of RegTech among banks & financial institutions and surge in partnership of RegTech companies with regulatory bodies. On the other hand, the market across Asia-Pacific is expected to showcase the highest CAGR of 23.8% during the forecast period. Several financial institutions are adopting RegTech to boost business efficiency, lowering compliance risk exposure and increasing bureaucratic competence of organizations in the region, which drives the growth of the market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
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Frontrunners in the market-

ACTICO GmbH
Acuant, Inc.
Ascent
Broadridge Financial Solutions, Inc.
ComplyAdvantage
International Business Machines (IBM)
MetricStream Inc.
NICE Ltd.
Thomson Reuters
Wolters Kluwer N.V.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞:

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