Market Overview:

The global RegTech market reached a value of US$ 8.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.2 Billion by 2027, exhibiting at a CAGR of 22.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

RegTech, or regulatory technology, refers to a software application used to monitor the in-house regulatory requirements of an enterprise efficiently and effectively. It involves cloud computing, machine learning (ML), and blockchain technologies to simplify and standardize compliance procedures and identify irregularities and technical issues in the digital payment platforms. It helps in the digitization of compliance processes and manual reports and offers enhanced operation speeds, agility, integration, and analytics capabilities. As a result, RegTech is extensively used in various banking and financial services, such as transaction monitoring, anti-money laundering (AML) screening, customer credit scoring, and trade data tracking, fraud prevention, and risk analysis.

Global RegTech Market Trends:

Significant growth in the banking, financial services, and insurance (BFSI) industry, along with the rising trend of digitization across the globe, represents one of the key factors positively influencing the market. In addition, increasing incidences of fraudulent activities over the internet are resulting in data and financial losses, which, in turn, is contributing to market growth. Along with this, RegTech aids in the accurate detection of unauthorized activities and eliminates the risk of errors caused due to human intervention. This, along with the widespread adoption of RegTechin non-finance industries to automate the process of employee surveillance, compliance data management, fraud prevention, and AML activities, is offering a favorable market outlook. Furthermore, the integration of connected devices with artificial intelligence (AI) and the internet of things (IoT)solutions are stimulating market growth. Moreover, the implementation of several favorable government policies and extensive research and development (R&D) activities by leading industry players are anticipated to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global RegTech market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, enterprises size, application and end user.

Breakup by Component:

• Solution
• Services
   

Breakup by Deployment Mode:

• Cloud-based
• On-premises
   

Breakup by Enterprises Size:

• Large Enterprises
• Small and Medium-sized Enterprises
   

Breakup by Application:

• Anti-Money Laundering (AML) and Fraud Management
• Regulatory Intelligence
• Risk and Compliance Management
• Regulatory Reporting
• Identity Management
   

Breakup by End User:

• Banks
• Insurance Companies
• FinTech Firms
• IT and Telecom
• Public Sector
• Energy and Utilities
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ACTICO GmbH, Acuant Inc., Ascent, Broadridge Financial Solutions Inc., ComplyAdvantage, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation, Jumio, London Stock Exchange Group plc, MetricStream Inc., NICE Ltd., PricewaterhouseCoopers, Thomson Reuters Corporation, Trulioo and Wolters Kluwer N.V.

Report Coverage:

Key Questions Answered in This Report:

• How has the global RegTech market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global RegTech market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the deployment mode?
• What is the breakup of the market based on the enterprises size?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global RegTech market and who are the key players?
• What is the degree of competition in the industry?