The RegTech Market size is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5%.
According to the new market research report "RegTech Marketby Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2023", published by MarketsandMarkets™,
Don't miss out on business opportunities in RegTech Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow:
The major drivers for the RegTech Market include the increased cost of compliance, adoption of regulatory sandbox approach, and low entry barriers for Software-as-a-Service (SaaS)-based offerings.
Regulatory Intelligence Application is expected to grow at the highest CAGR during the forecast period.
The regulatory intelligence application is expected to grow at the highest CAGR during the forecast period, owing to the much-needed functionality of identifying and interpreting regulatory changes which enables financial institutions to easily manage the changing regulatory environment and minimize the risk of non-compliance. Additionally, the analytics provide financial institutions with insights which can lead to better informed decisions regarding regulatory adherence.
Browse in-depth TOC on "RegTech Market"
28 - Tables
33 - Figures
109 - Pages
Large Enterprises is expected to hold the largest market share during the forecast period.
The large enterprises segment is expected to hold the largest market share, as most publicly traded companies are compelled to adopt regulatory programs. Additionally, as rules and regulations keep altering as per industry and region, keeping a check on all the processes manually does not remain feasible, which further emphasizes on the importance of RegTech solutions and services.
Service and consulting vendors such as Deloitte, IBM, PwC, and Thomson Reuters assist large enterprises to realize the benefits of efficiently managing their business functions in accordance to the compliance mandates by enabling them to effectively implement RegTech solutions as per their business requirements.
North America is expected to hold the largest market share during the forecast period.
As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the early adoption of RegTech solutions by the North American financial institutions to reduce compliance cost by leveraging advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, big data, and cloud computing.
North America constitutes of developed economies, such as the US and Canada. These countries are significantly advanced in terms of technology and its application deployments.
Moreover, stringent regulations and the need to comply with them are expected to drive the market growth in North America.
Download a sample report @ www.marketsandmarkets.com/request…hatech.com
The major vendors covered in the RegTech Market include Abside Smart Financial Technologies (Spain), Accuity (US), ACTICO (Germany), Alto Advisory (Luxembourg), Broadridge (US), Compendor (Germany), Compliance Solutions Strategies (CSS) (US), Deloitte (US), EastNets (UAE), Fenergo (Ireland), IBM (US), Infrasoft Technologies (India), Jumio (US), Lombard Risk (UK), London Stock Exchange Group (LSEG) (UK), MetricStream (US), Nasdaq BWise (Netherlands), NICE Actimize (US), PwC (UK), RIMES Technologies (US), SAI Global (Australia), Sysnet Global Solutions (Ireland), Thomson Reuters (Canada), Trulioo (Canada), and Wolters Kluwer (Netherlands).
Category: Market Research Publishers and RetailersCompany about: MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth ...