Absolute Market Insights recent analysis of the RegTech Market finds that the increasing demand for the prevention of fraud in industries is expected to witness maximum growth in the RegTech during the forecast period. The global Market revenue stood at a value USD 7.6 Bn in the year 2021.
Market Synopsis
RegTech (Regulatory Technology) is the application of emerging technology to improve the way businesses manage regulatory compliance.
RegTech on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the RegTech Market is predicted to grow at a CAGR of roughly 20.80% during the forecast period.
- The RegTech Market was estimated to be worth roughly 7.6 Bn in 2021 and is expected to reach USD 19.5 Bn by 2028; based on primary research.
- On the basis of region, RegTech Market is projected to dominate worldwide.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global RegTech Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
The growing demand for prevention of fraud in industries has driven growth of the global regtech market. Increased digitization around the world has led to the proliferation of local and global payment methods..Growing applications of regtech solutions in areas such as regulatory reporting, risk management, compliance, identity management & control, and transaction monitoring fuels growth of the global regtech market.
Restraint:
The cost of maintaining software is rising exponentially, and software maintenance could account for 70% of the total cost of the software. While more software is being developed every day, it becomes hard to maintain them over time. The cost of maintaining software can be three times higher than the cost of development.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on RegTech Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America has emerged as the largest regional market in terms of revenue in the global regtech market in 2021. Growth of this region is mainly driven by increased awareness of regtech solutions among banks & financial institutions. In addition, in 2019 the U.S. Financial Crimes Enforcement Network (FinCEN) launched an innovation program aimed at exploring regtech methods to improve detection of money laundering. Such initiatives are projected to boost demand for regtech solutions. On the other hand, the Asia-Pacific regtech market is expected to witness highest growth rate during the forecast period.
List of Prominent Players in RegTech:
- ACTICO GmbH
- Acuant
- Ascent
- Ayasdi AI LLC.
- Broadridge Financial Solutions
- Chainalysis Inc.
- ComplyAdvantage
- Deloitte Touche Tohmatsu Limited
- EY
- Fenergo
- IBM Corporation
- Jumio
- KPMG
- LexisNexis Risk Solutions Group.
- NICE Ltd.
- PwC
- Thomson Reuters
- Wolters Kluwer N.V.
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the RegTech?
- How will the RegTech change in the upcoming six years?
- Which application and product will take a lion’s share of the RegTech?
- What is the RegTech drivers and restrictions?
- What will be the CAGR and size of the RegTech throughout the forecast period?
This market titled RegTech will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years – 2016-2028
Base Year – 2021
Historic Years – 2016-2020
Forecast Years – 2022-2028
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Segments Covered
- Offering
- Solutions, Cloud,
- On Premise,
- Services
- Organization Size
- Small and Medium Enterprises,
- Large Enterprises
- Industry
- Information Technology and Telecommunication,
- Education and Training, Travel and Hospitality,
- Banking, Financial Services and Insurance,
- Legal,
- Transportation and Logistics,
- Manufacturing and Automotive,
- Public Sector, Energy and Utilities,
- Chemical and Plastics,
- Electrical and Electronics,
- Others
- Application
- Regulation and Compliance Assessment,
- Identity Management,
- Risk Management,
- Regulatory Intelligence and Reporting,
- Financial Monitoring and Anti-Money Laundering,
- Others
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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