Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global RegTech Market Outlook

The global RegTech market stood at a value of around USD 12.49 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 22.0% to reach USD 74.77 billion by 2032.

RegTech Market

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Increasing Demand in Large Enterprises to Augment the Global RegTech Industry

Based on enterprise size, the large enterprises segment is anticipated to account for a significant share in the global RegTech industry. This is due to the fact that most publicly traded companies are compelled to adopt regulatory programmes. Additionally, keeping a check on all the processes manually is not feasible, as rules and regulations across different industries and regions keep altering. This, in turn, is enhancing the demand for RegTech solutions and services, especially in large enterprises.

North America to Dominate the Global RegTech Industry

Region-wise, North America is expected to account for the largest market share during the forecast period. This can be attributed to the early adoption of RegTech solutions by the leading financial institutions in North America to reduce compliance costs by leveraging advanced technologies, including blockchain and cloud computing. The increased demand for RegTech solutions in developed economies such as the US and Canada, which are significantly advanced in terms of technology and its deployment, is supporting the market growth in the region. There is an increased focus to digitally reinvent the business by deploying scalable RegTech solutions. Furthermore, the stringent government regulations in the region, coupled with the need to comply with the same, are expected to further propel the industry forward in the forecast period.

RegTech Market Segmentation

RegTech, a combination of the words ‘regulatory’ and ‘technology’, is designed to manage regulatory processes within the financial industry by utilising advanced technologies. It helps businesses comply with regulations efficiently and less expensively by making use of technologies such as machine learning, cloud computing, biometrics, blockchain, and others. It is widely used to accomplish tasks like regulatory monitoring, risk management, data analytics, reporting, and fraud detection.

RegTech Market By Segments

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By component, the industry is segmented into:

  • Solution
  • Services

The market can be broadly categorised on the basis of deployment type into:

  • Cloud
  • On-Premises

By enterprise size, the industry is segmented into:

  • Large Enterprises
  • Small and Medium Enterprises (SMEs)

The market can be broadly categorised on the basis of its application into:

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

On the basis of end use, the industry is segmented into:

  • Banks
  • Insurance Companies
  • Fintech Firms
  • IT and Telecom
  • Public Sectors
  • Energy and Utilities
  • Others

The EMR report looks into the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

RegTech Market By Region

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Rapid Technological Advancements and the Increasing Focus on Cost Reduction and Compliance  to Bolster the Growth of the Global RegTech Industry

The rapid technological advancements such as the increased adoption of technologies like artificial intelligence, robotics process automation, and others in various industries to keep pace with rapid regulatory changes are driving the growth of the market. Furthermore, the need to improve products and services, customer experiences, and processes while limiting the cost of compliance and managing regulatory pressure is significantly enhancing the demand for RegTech solutions. In addition, the need to improve identity management strategies, such as KYC for identity verification, KYC for onboarding, and KYC for AML checks, among others, to keep up-to-date with ever-changing global KYC regulations is aiding the market. Furthermore, emerging nations, such as China and India, offer significant opportunities to RegTech solution providers to expand and develop their offerings in the regions due to the growing trend of digitalisation. In addition, increasing penalties for non-compliance with regulations and the need to control financial frauds are expected to provide lucrative opportunities for the market expansion over the forecast period.

Key Industry Players in the Global RegTech Market

The report presents a detailed analysis of the following key players in the global RegTech market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Abside Smart Financial Technologies
  • ACTICO GmbH
  • Acuant, Inc.
  • Ascent Technologies, Inc.
  • IBM Corp.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Type
  • Enterprise Size
  • Application
  • End Use
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Deployment Type
  • Cloud
  • On-Premises
Breakup by Enterprise Size
  • Large Enterprises
  • Small and Medium Enterprises (SMEs)
Breakup by Application
  • Anti-Money Laundering (AML) and Fraud Management
  • Regulatory Intelligence
  • Risk and Compliance Management
  • Regulatory Reporting
  • Identity Management
Breakup by by End Use
  • Banks
  • Insurance Companies
  • Fintech Firms
  • IT and Telecom
  • Public Sectors
  • Energy and Utilities
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Abside Smart Financial Technologies
  • ACTICO GmbH
  • Acuant, Inc.
  • Ascent Technologies, Inc.
  • IBM Corp.
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global RegTech market attained a value of nearly USD 12.49 billion.

The market is projected to grow at a CAGR of 22.0% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 74.77 billion by 2032.         

The key market drivers guiding the growth of the industry include the rising demand to improve the quality and security of reported data across various jurisdictions, increasing focus towards maintaining transparency in financial regulations, need to improve Know Your Customer (KYC) and Anti Money Laundering (AML) strategies, and the stringent government policies such as the General Data Protection Regulation (GDPR) guidelines.

The key trends guiding the growth of the industry include the growing need to reduce the cost of compliance, regulatory sandbox approach to support RegTech innovations, and lower entry barriers for SaaS vendors.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

The significant RegTech components are solution and services.

The significant segments based on deployment type of the product are cloud and on-premises.

The significant segments based on enterprise size are large enterprises and small and medium enterprises (SMES).

The major applications of RegTech are anti-money laundering (AML) and fraud management, regulatory intelligence, risk and compliance management, regulatory reporting, and identity management.

The significant end uses of the product are banks, insurance companies, fintech firms, IT and telecom, public sectors, and energy and utilities, among others.

The major players in the market include Abside Smart Financial Technologies, ACTICO GmbH, Acuant, Inc., Ascent Technologies, Inc., and IBM Corp., among others.

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