RegTech Market Size, Trends And Outlook By 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

RegTech Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $30.04 billion In 2028 At A CAGR Of 16.7% :

The regtech market size has grown rapidly in recent years. It will grow from $13.78 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to rising need for faster transactions, a rise in disposable income and growing cost of compliance.

The regtech market size is expected to see rapid growth in the next few years. It will grow to $30.04 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to rising number of fraudulent activities, strategic partnerships and collaborations and rising trend of digitization. Major trends in the forecast period include use of artificial intelligence (ai) technologies, focus on machine learning and natural language processing-based products, focus on cloud-based solutions, focus regulatory intelligence platforms and focus on blockchain-based platforms.

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RegTech Market Major Segments
The regtech market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Deployment Type: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Risk And Compliance Management, Identity Management, Regulatory Reporting, Anti-Money Laundering (AML) And Fraud Management, Regulatory Intelligence
5) By End-User: Banking, Insurance, Non-Banking Financial End-Users, Non-Financial And Other End Users

Key Driver - The Surge In Fraudulent Activities Drives Demand For Regtech Solutions In The Financial Sector

The rising number of fraudulent activities such as money laundering in the financial sector is expected to propel the growth of the RegTech market in the forecast period. Fraudulent activities such as money laundering have increased and therefore financial organizations need a more powerful RegTech framework that can help risk and compliance teams manage the deluge of ever-increasing regulatory compliance and progressively sophisticated breaches successfully. For example, in 2022, according to a report published by LexisNexis Risk Solutions, a US-based global data and analytics company, the costs of fraud for U.S. and Canadian financial services companies are rising. U.S. financial services companies pay $4.23 instead of $3.64 for every $1 lost to fraud, a 16.2% increase. Canadian financial services companies' costs increased by 19.6%, from $3.16 in 2020 to $3.78 in 2022. Thus, the rising number of fraudulent activities increases the demand for the RegTech market.

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Prominent Trend - Integration Of Ai, Ml, And Blockchain Drives Innovation In The Regtech Market

The application of AI, ML, and blockchain technologies has emerged as a key trend in the RegTech market. Major companies operating in the RegTech sector are increasingly adopting AI, ML, and blockchain technologies to automate processes such as data management analysis and due diligence. For instance, in January 2021, Darktrace, a UK-based AI cyber security company launched the fifth version of autonomous response technology for general accessibility, allowing businesses to benefit from the cloud while also safeguarding themselves from new cyber threats. Compliance with regulations including GDPR, HIPAA, and the DFS Cyber Security Regulations adds to the long list of issues that security professionals face.

RegTech Market Players
Major companies operating in the regtech market report are IBM Corporation, NICE Ltd, Thomson Reuters Corporation, Broadridge Financial Solutions Inc, Wolters Kluwer N.V., London Stock Exchange Group plc, MetricStream Inc, GB Group plc, ACTICO GmbH, Ascent Technologies, Inc., ACI worldwide, BAE system, Oracle corporation, Centenal, CustomerXPs, IDfy, Merkle Science, Ant Group, Tencent, Lufax, Zhong An, Alibaba, Baidu, Yu'eBao, LiCaiTong, HuaBei, IVXS Limited, Pole Star Space Applications, PricewaterhouseCoopers Private Limited, CLAUSEMATC, REGnosys Limited, Tessian, Coryltics, Alyne, Blinking, CleverSoft, ComplyAdvantage, CyNation, DataGuard, Dathena, ElectronicId, FacePhi, Fenergo, 4STOP, Governance.com, Hawk:AI, IDpal, Privitar, RegBot, Kompany, AQMetrics, ForcePoint, Amazon, Microsoft, Google, Ayasdi AI LLC, Hummingbird RegTech Inc., Jumio Corporation, MindBridge Analytics Inc., Ceptinel RegTech, Contraloría privada, Codebase Technologies, Azakaw, Sysnet Global Solutions, Privacy Rating, Truata Limited, FinReg Global Solutions Limited, RegTech Africa, Intergreatme, ThisIsMe, DocFox, Entersekt

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Largest And Fastest Growing Region In The Market
North America was the largest region in the regtech market in 2023. The regions covered in the regtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. RegTech Market Report Structure
3. RegTech Market Trends And Strategies
4. RegTech Market - Macro Economic Scenario
5. RegTech Market Size And Growth
…..
27. RegTech Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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