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Navigating the Regulatory Tech Landscape: Future of Compliance

Navigating the Regulatory Tech Landscape: Future of Compliance

The Business Research Company recently released a comprehensive report on the Global Regulatory Technology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/regulatory-technology-global-market-report

Market Drivers and Trends:

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.

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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=15456&type=smp

Major Key Players of the Market:

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

Regulatory Technology Market 2024 Key Insights:

• 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%.
• Role Of Regulatory Technology In Addressing Cybersecurity Concerns
• Introduction Of AI-Powered RegTech Platform For Creating Compliant Public Communications
• North America was the largest region in the regulatory technology market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=15456&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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