Strong Growth In The Regtech Market Is Expected To Continue Over The Forecast Period

Risk Compliance Management and Regulatory Reporting continue to show strong growth with Regulatory Reporting revenues expected to surge over the forecast period

LONDON, GREATER LONDON , UK, October 26, 2022 /EINPresswire.com/ -- Historically, AML was the largest segment in the RegTech market up to 2016, when Risk and Compliance Management gained parity and then took the lead. Risk and Compliance is expected to continue as the largest segment in the market (30% share in 2022), followed by AML (24%) and Regulatory Reporting (18%). In the forecast period to 2031, the risk and compliance share will drop to 28%, AML will be at 23%, Regulatory Reporting at 19% and Regulatory Intelligence climbing to 17% of the market share. The smallest segment, with a current 12.4% market share, is Identity Management.

In the historic period, North America was the largest region in 2011, with a 34% market share. By 2016, Asia-Pacific took the top spot with a 35% share, climbing to a peak of 38% by 2022, while North America was at 30% in 2016 and 27% in 2022.

The forecast period shows some rebalancing between these two giants, with Asia-Pacific at 35% by 2031 and North America at 33%. South America is the other significant regional player in this market, with its share rising from 22% in 2011 to a peak of 25% in 2021. However, the region is expected to see a reverse in the forecast period and fall back to 21% by 2031. The other regions share just 10% of the market between them.

The USA, China, and Japan are the big players amongst the top ten countries, with a 52% global market share in 2021. The USA has shown the fastest growth over the historic period (CAGR of 22.7% between 2011 – 2021), with a market share of 36% in 2021. China is the second largest market with an 11% share, and Japan is in third with 5%.

RegTech (regulatory technology) is a class of software applications for managing regulatory compliance. This technology harnesses the power of big data, artificial intelligence, and blockchain to reduce financial risk, increase regulatory compliance, and stamp out laundering and fraud.

The RegTech market consists of sales of RegTech solutions and services by entities (organizations, sole traders, and partnerships) that are engaged in providing regulatory processes within the financial industry via advanced technologies. RegTech, or regulatory technology, is a set of applications that employ cloud computing technology and software-as-a-service (SaaS) to assist businesses in complying with regulations more efficiently and cost-effectively. RegTech's primary functions are regulatory surveillance, monitoring, and compliance.

The market is divided into five segments:
• Risk And Compliance Management - sales of RegTech solutions by entities that deliver technologies that address pain points inherent in risk management and compliance.
• Identity Management - sales of RegTech solutions by entities that use Know Your Customer (KYC) systems as well as machine learning, artificial intelligence, and biometric technologies, to make sure that only authorized users can get access to particular data or systems. RegTech offers solutions for quick and highly secure identity management.
• Regulatory Reporting - sales of RegTech by entities that allow organizations to significantly reduce the time needed for making reports using automated and streamlined processes. Such processes don’t require human intervention and eliminate all possibilities for human error.
• Anti-Money laundering (AML) And Fraud Management - sales of RegTech solutions by entities that provide efficient transaction monitoring to reduce fraud and prevent scams, and also by offering market surveillance solutions based on contextual data analytics to prevent risks of market abuse, fraud and operational shortcomings.
• Regulatory Intelligence - sales of RegTech solutions by entities that enable organizations to anticipate and manage global regulatory developments in a single solution, removing the burden of having to manually track multiple sources of regulatory information.

Major players in the RegTech market are:

• Abside RegTech
• Accuity
• ACTICO
• Acuant Inc
• Ascent Technologies Inc.
• BearingPoint Software Solutions GmbH
• Broadridge Financial Solutions Inc
• BWise Beheer B.V.
• Compliance Solutions Strategies
• Sysnet Global Solutions
• Trulioo
• ComplyAdvantage
• Fenergo
• IBM Corporation
• Infrasoft Technologies
• Jumio
• London Stock Exchange Group plc
• MetricStream Inc.
• NICE Actimize
• RIMES Technologies Corporation
• VERMEG

As per data on the Global Market Model

The RegTech Market Report is one of a series of new reports from The Business Research Company that provides RegTech market overviews, analyzes and forecasts RegTech market size, share, RegTech market players, RegTech market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

Related reports on this topic include:

Governance, Compliance And Risk Management Software Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/governance-compliance-and-risk-management-software-global-market-report

Fraud Detection And Prevention Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/fraud-detection-and-prevention-global-market-report

Security As A Service Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/security-as-a-service-global-market-report

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