Regulatory Technology Market Competitive And Growth Analysis 2024 | International Business Machines Corporation, Deloitte Touche Tohmatsu Limited

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Regulatory Technology 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 $17.93 billion In 2028 At A CAGR Of 21.8% :

The regulatory technology market size has grown exponentially in recent years. It will grow from $6.71 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to the emergence of fintech startups, financial crisis regulatory overhaul, manual and labor-intensive compliance processes, the democratization of financial services, and the emergence of regulators as innovators.

The regulatory technology market size is expected to see exponential growth in the next few years. It will grow to $17.93 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to the focus on sustainability and ESG (Environmental, social and governance) compliance, regulatory reporting automation, real-time transaction monitoring, regulatory compliance benchmarking, and regulatory compliance audit trails. Major trends in the forecast period include regulatory change management platforms, real-time transaction monitoring, regulatory compliance-as-a-service, RegTech for non-financial industries, and blockchain and distributed ledger technology.

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Regulatory Technology Market Major Segments
The regulatory technology market covered in this report is segmented -

1) By Component: Solutions, Services
2) By Deployment: Cloud, On-Premises
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By Application: Regulatory Intelligence, Identity Management, Compliance And Risk Management, Fraud Management, Regulatory Reporting

Key Driver - Role Of Regulatory Technology In Addressing Cybersecurity Concerns

The increasing concern regarding cybersecurity is expected to propel the growth of the regulatory technology market going forward. Cybersecurity refers to the practice of protecting computer systems, networks, programs, and data from unauthorized access, breaches, damage, or theft, as well as from disruption or misdirection of services they provide. Cybersecurity is rising due to the increasing digitization of businesses and society, coupled with the proliferation of cyber threats targeting valuable data and infrastructure, necessitating robust protective measures to safeguard against potential breaches and attacks. Regulatory technology is required to prevent cybersecurity because it enables organizations to implement and adhere to regulatory standards and compliance requirements related to cybersecurity, ensuring that adequate measures are in place to protect sensitive data and mitigate cyber threats effectively. For instance, in May 2024, AAG, a provider of IT support services, reported that 39% of UK companies reported encountering a cyberattack in 2022. Additionally, cybercrime affected 53.35 million individuals in the United States during the first half of the same year, and around 236.1 million ransomware attacks occurred globally in the first half of 2022. Therefore, the increasing concern regarding cybersecurity is driving the growth of the regulatory technology market.

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Prominent Trend - Introduction Of AI-Powered RegTech Platform For Creating Compliant Public Communications

Major companies operating in the regulatory technology market are focusing on developing technologically advanced solutions, such as AI-powered RegTech platforms, to help financial institutions create compliant public communications. An AI-powered RegTech platform refers to a regulatory technology solution that leverages artificial intelligence (AI) and machine learning (ML) technologies to enhance regulatory compliance processes, risk management, and regulatory reporting within organizations. For instance, in January 2022, Fidelity Investments, a US-based provider of financial services and investment management, launched Saifr, an AI-powered regulatory technology (RegTech) service that helps financial institutions create, review, and approve public communications to mitigate brand, reputational, and regulatory risk. This platform solution creates a human-machine partnership that streamlines the entire compliance process, from the creation of material to the submission of regulations. Saifr offers two solutions, SaifrReview and SaifrScan, facilitating collaboration between marketing and compliance teams for faster, compliant communications. Using a human-machine dynamic, Saifr automates monotonous compliance tasks, allowing teams to focus on creative and complex compliance details. The aim was to help financial institutions create compliant public communications and mitigate brand.

Regulatory Technology Market Players
Major companies operating in the regulatory technology market are International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited , London Stock Exchange Group Plc , Grant Thornton International Ltd., Thomson Reuters Corporation, Broadridge Financial Solutions Inc., Baker Tilly International Ltd., SAS Institute Inc., LexisNexis Risk Solutions Group, Norton Rose Fulbright LLP, SAI Global Compliance Inc., NICE Actimize Ltd., MetricStream Inc., Jumio Corporation, MasterControl Inc., VERMEG Group, Alto Advisory Limited, Behavox Ltd., ACTICO GmbH, BWise, NetGuardians Inc. , Fintellix Solutions , Infrasoft Technologies Ltd., OpusDatum Limited

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Largest And Fastest Growing Region In The Market
North America was the largest region in the regulatory technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory technology 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. Regulatory Technology Market Report Structure
3. Regulatory Technology Market Trends And Strategies
4. Regulatory Technology Market - Macro Economic Scenario
5. Regulatory Technology Market Size And Growth
…..
27. Regulatory Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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