Overview and Scope
Regulatory reporting solutions are software platforms or systems designed to help financial institutions and other regulated entities comply with various regulatory requirements imposed by governmental authorities. These solutions streamline the collection, validating, and submitting data required for regulatory reporting.
Sizing and Forecast
The regulatory reporting solutions market size has grown rapidly in recent years. It will grow from $6.02 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to stringent regulatory requirements, financial crises and regulatory reforms, globalization and cross-border transactions, operational efficiency and cost reduction, and risk management imperatives.
The regulatory reporting solutions market size is expected to see rapid growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to the globalization of business operations, rising instances of financial fraud, the emergence of fintech and regtech, the demand for transparency and accountability, and the and the shift towards cloud-based solutions. Major trends in the forecast period include automation and AI, integrated platforms, real-time reporting, cybersecurity and data privacy, and blockchain technology.
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Segmentation & Regional Insights
The regulatory reporting solutions market covered in this report is segmented –
1) By Solution: Regulatory Reporting Software, Services
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
3) By Application : Financial Institutions, Banking, Information Technology (IT) And Telecommunication, Other Application
North America was the largest region in the regulatory reporting solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory reporting solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising number of fraudulent activities is expected to propel the growth of the regulatory reporting solutions market going forward. Fraudulent activities encompass deceptive actions or schemes to achieve financial gain through dishonest or unlawful means. The widespread adoption of digital technologies and the internet has increased social engineering tactics, malware, and hacking methods, enabling fraudsters to gain unauthorized access to sensitive information and exploit unsuspecting victims for financial gain. Regulatory reporting solutions help detect and prevent fraudulent activities by ensuring compliance with regulatory requirements and facilitating transparency and accuracy in financial reporting. For instance, in May 2023, according to UK Finance, a UK-based trade association for the banking sector, authorized fraud losses reached £485.2 million ($616 million), with 207,372 total cases in 2022, an increase of 6% compared to 2021. Therefore, the rising number of fraudulent activities is driving the growth of the regulatory reporting solutions market.
Key Industry Players
Major companies operating in the regulatory reporting solutions market are Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, Oracle Corporation, KPMG International Limited, Fiserv Inc., Fidelity National Information Services Inc., Bloomberg LP, Thomson Reuters Corporation, Broadridge Financial Solutions Inc., Wolters Kluwer N.V., Moody’s Corporation, SS&C Technologies Holdings Inc., IHS Markit Ltd., SAS Institute Inc., BearingPoint Holding BV, VERMEG Group, AxiomSL Holdings Inc., Compliance Solutions Strategies (CSS) Holdings Inc., CUBELogic Limited, Cube Software Limited, Encompass Corporation, Meritsoft Limited, Cappitech Ltd., AQMetrics Limited
The regulatory reporting solutions market report table of contents includes:
1. Executive Summary
2. Regulatory Reporting Solutions Market Characteristics
3. Regulatory Reporting Solutions Market Trends And Strategies
4. Regulatory Reporting Solutions Market – Macro Economic Scenario
5. Global Regulatory Reporting Solutions Market Size and Growth
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31. Regulatory Reporting Solutions Market Other Major And Innovative Companies
32. Global Regulatory Reporting Solutions Market Competitive Benchmarking
33. Global Regulatory Reporting Solutions Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Regulatory Reporting Solutions Market
35. Regulatory Reporting Solutions Market Future Outlook and Potential Analysis
36.Appendix
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