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RegTech Market
The RegTech Market is projected to reach USD 23,309 million by 2027, growing at a CAGR of 20.7% over the forecast period (2020-2027).
The factors driving the growth of RegTech Market includes growing demand for faster transactions, increasing focus on maintaining transparency in the financial regulations, collaboration between the fintech and RegTech companies. Moreover, the increasing adoption of advanced technologies such as Blockchain, Artificial Intelligence (AI), cloud computing and Machine Learning and growing emphasis on complying with the data protection rules laid down by regulatory bodies, are some of the additional factors supplementing the RegTech Market Growth. In addition, the increasing investments by banks for improving the data and analytical IT solutions, rise in the number of fraudulent activities over the internet and emerging need to automate employee surveillance and compliance data management, are further pushing the market growth. According to the report published by CNBC, in 2021, the digital frauds against the financial service companies in the United States increased by 109% and global fraud attempts were up 149% as compared to 2020, which is expected to boost the Global RegTech Market in the approaching years.
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However, the growth of RegTech Market is hindered attributed to growing concerns related to data breaches and privacy.
The leading players operating in the RegTech Market are Accuity, Broadridge Financial Solutions, Inc., Deloitte, ACTICO GmbH, PwC, Accuity, Thomson Reuters, Jumio, MetricStream Inc. and NICE, among others.
Application: Segment Analysis
Based on application, the regulatory intelligence segment is anticipated to expand at a remarkable CAGR during the forecast period because the RegTech solution helps the financial institutions to manage regulatory environment, abolishing the risk of non-compliance.
Organization Size: Segment Analysis
Based on Organization Size, large enterprise segment is projected to capture the largest market share over the forecast period. The changes in the data protection rules around the world, large companies store huge amounts of data and increasing number of publicly traded companies, are some of the factors augmenting the growth of the segment.
Regional: Segment Analysis
Based on region, the North American region is estimated to hold the highest market share during the forecast period. The early adoption of RegTech companies by the companies in North America, increasing investments for digital transformation, presence of the leading consulting companies such as Deloitte and BCG, high per capita incomes, and improved living standards, are some of the important factors accelerating the RegTech Market size in North America.
Market Segmentation
Global RegTech Market by Component
Solutions
Services
Professional Services
Managed Services
Global RegTech Market by Application
Risk and Compliance Management
Identity Management
Regulatory Reporting
Anti-money laundering and Fraud Management
Regulatory Intelligence
Global RegTech Market by Deployment Type
Cloud
On-premises
Global RegTech Market by Organization Size
Large Enterprises
Small and Medium-sized Enterprises
Global RegTech Market by Vertical
Banking And Capital Markets
Insurance
Non- Finance
Global RegTech Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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