Payment Monitoring Industry Outlook 2025-2029: Market Set to Cross $49.45 Billion Milestone

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How Large Will the Payment Monitoring Market Size By 2025?
The size of the payment monitoring market has seen significant expansion in the past few years. It's projected to increase from $19.65 billion in 2024 to $23.26 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 18.4%. The growth during the historic period is associated with mitigating fraud risks, enforcing regulatory compliance, a rise in digital transactions, effective risk management, maintaining customer faith, and safeguarding reputation.

How Big Is the Payment Monitoring Market Size Expected to Grow by 2029?
The size of the payment monitoring market is projected to experience substantial expansion in the coming years, reaching $49.45 billion by 2029 with a compound annual growth rate (CAGR) of 20.8%. This growth in the predicted period is influenced by factors such as emerging cybersecurity threats, globalization and transnational transactions, tighter regulatory landscape, data privacy issues, and the integration of AI and analytics. Noteworthy trends for this forecast period encompass cross-channel tracking, incorporation of blockchain technology, collaborations with financial institutions, emphasis on safeguarding customer data, a more user-centred interface, and comprehensive reporting.

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Which Key Market Drivers Powering Payment Monitoring Market Expansion and Growth?
The growth of the payment monitoring market is being fueled by the increase in payment fraud and cyberattacks. This type of fraud entails the execution of unauthorized transactions by cybercriminals using stolen payment details from a third party. Payment monitoring systems vigilantly track and analyze every transaction to detect and counteract any unlawful or suspicious activities, thus mitigating losses for the victims. As an example, the AFP Payments Fraud and Control Survey by JP Morgan in April 2022 indicated that around 30% of firms witnessed a surge in payment fraud. At the same time, 71% of entities declared that they had been targets of payment fraud attacks. Moreover, due to business email compromise (BEC), 55% of businesses recorded either actual or potential payment fraud. As a result, the escalating payment fraud is propelling the expansion of the payment monitoring market.

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What Trends Will Shape the Payment Monitoring Market Through 2029 and Beyond?
The merging of high-tech systems such as machine learning (ML), artificial intelligence (AI), and big data is a prominent trend being embraced in the payment monitoring market. Prominent businesses in the industry are prioritizing the enhancement of their platforms to secure their market status. For example, the Society for Worldwide Interbank Financial Telecommunication, a Belgium-centered cooperative providing a safe communication network for interbank financial transactions, introduced an AI tool in August 2022. This tool employs predictive data intelligence to identify potential issues with cross-border transactions before they are finalized. By leveraging data from prior successful transactions, it can detect potential mistakes in new transactions, thus lowering the likelihood of failures.

What Are the Emerging Segments in the Payment Monitoring Market?
The payment monitoringmarket covered in this report is segmented -

1) By Type: Case Management, Dashboard And Reporting, KYC Or Customer Onboarding, Watch List Screening
2) By Deployment: Cloud, On-premise
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Anti-Money Laundering, Compliance Management, Fraud Detection And Prevention, Customer Identity Management
5) By End User: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Healare, Retails And E-commerce, Government And Defense, Other End-Users

Subsegments:
1) By Case Management: Incident Management, Investigation Management, Workflow Management, Reporting And Analytics
2) By Dashboard And Reporting: Real-Time Monitoring Dashboards, Compliance Reporting, Performance Metrics, Customizable Reporting
3) By KYC or Customer Onboarding: Identity Verification, Document Verification, Risk Assessment, Enhanced Due Diligence
4) By Watch List Screening: Sanctions Screening, PEP (Politically Exposed Persons) Screening, Adverse Media Screening, Ongoing Monitoring

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Who Are the Global Leaders in the Payment Monitoring Market?
Major companies operating in the payment monitoring market include ACI Worldwide Inc., BAE Systems plc, Fair Isaac Corporation, Fidelity National Information Services Inc., Fiserv Inc., Nice Ltd., Oracle Corporation, SAS Institute Inc., Software AG, Refinitiv Company, Bottomline Technologies Inc., Broadcom Inc., International Business Machines Corporation, ThreatMetrix Inc., ComplyAdvantage Ltd., Thomson Reuters Corporation, LexisNexis Group, Hawk:AI, Napier Healare Solutions, FinScan, Flywire Corporation, PPRO Financial Ltd., CheckoutLtd., Adyen NV, Stripe Inc., Square Inc., PayPal Holdings Inc., Apple Inc., Global Payments Inc., PayNearMe

Which are the Top Profitable Regional Markets for the Payment Monitoring Industry?
North America was the largest region in the payment monitoring market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global payment monitoring market report during the forecast period. The regions covered in the payment monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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