Anti-Money Laundering Software Market Reach USD 19 Billion by 2033 Growing with 16.7% CAGR

Allied Market Research published a new report, titled, "Anti-Money Laundering Software Market Reach USD 19 Billion by 2033 Growing with 16.7% CAGR ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global anti-money laundering software market size was valued at USD 4 billion in 2023, and is projected to reach USD 19 billion by 2033, growing at a CAGR of 16.7% from 2024 to 2033.

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Driving Factors

The rising concerns about food safety, increasing healthcare costs, the ease of access to different food safety testing techniques, and the growing demand for nutritious & balanced food components are the factors expected to drive the growth of the global food safety monitoring system market in the forecast period from 2023 to 2032. Digitization of food safety in the food sector and the rising regulatory standard and stringent food safety regulations are expected to offer remunerative opportunities for the expansion of the food safety monitoring system market during the forecast period.

Market Segmentation

The anti-money laundering software market size is segmented into component, product type, deployment, organization size, end user, and region. On the basis of component, it is bifurcated into software and services. By product type, the market is divided into transaction monitoring, KYYC/CDD & sanction screening and cash management & reporting. By deployment, it is segmented into cloud and on-premise. By organization size, the market is classified into large enterprises and small & medium-sized enterprises. By end user, the market is classified into banks & financial institutes, insurance, and gaming & abc. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players

The market players operating in the Anti-Money Laundering Software Market Size are LexisNexis Risk Solutions, Thomson Reuters Corporation, HyperVerge Technologies Private Limited, Moody's Corporation, SAS Institute Inc., Eastnets Holding Ltd., ACI Worldwide, Inc., NICE Actimize, IMTF, and Verafin Solutions ULC. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the anti-money laundering software market analysis globally.

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By region, North America dominated the market share in 2023, driven by the region's well-established gaming infrastructure, widespread adoption of digital technologies, and a large base of anti-money laundering software enthusiasts. However, the Asia-Pacific is projected to attain the highest CAGR during the forecast period. This growth is driven by the increasing popularity of anti-money laundering software in countries like China, South Korea, and Japan, where security culture is deeply embedded. The region is also witnessing significant investments in security infrastructure.

By component, the platform segment accounted for the largest share in 2023, contributing to three-fifths of the market revenue as financial institutions and organizations are increasingly adopting AML software to meet stringent regulatory requirements related to anti-money laundering and combating financial crimes.

By product type, the transaction monitoring segment accounted for the largest share in 2023, contributing to more than two-fifths of the market revenue. This dominance is primarily due to the critical role transaction monitoring plays in identifying suspicious financial activities and ensuring regulatory compliance.

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Key Findings of The Study

By component, the software segment accounted for the largest anti-money laundering software market share in 2023.

By product type, the on transaction monitoring segment accounted for the largest market share in 2023.

By deployment, the on-premise segment accounted for the largest market share in 2023.

By organization size, the large enterprises segment accounted for the largest market share in 2023.

By end-user, the banks and financial institutions segment accounted for the largest market share in 2023.

Region-wise, North America generated the highest revenue in 2023.

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