The report entitled “Global RegTech Market” assesses the RegTech market globally based on the deployment mode, organization size, application, end user, and region.
The report is comprehensive and provides a thorough analysis of the historical and projected market size, along with trend analysis on the Americas, Europe, the Middle East & Africa, and Asia Pacific. RationalStat’s market research report offers market share analysis of the top players, the production capabilities of the leading companies, trade statistics, and new product launches. technological overview, technological updates, and an overview of the end user. Analysis of the impact of Covid-19 competitive analysis market strategies, and possible growth areas for market players to target.
Market Analysis and Dynamics: The increasing demand for RegTech to curb fraudulent activities is anticipated to boost the development of the Global RegTech Market
The global RegTech market is anticipated to expand at a rate of around 16% over the period 2022-2028. RegTech offers faster operating speeds and agility, integration and analytics capabilities, and assists in the digitization of manual processes for compliance and reports. The growing threat of cybercrime and fraud are among the major factors that affect the development global RegTech market.
Furthermore, the rising number of cybercrime cases has prompted several companies and consumers to use RegTech to help prevent fraud and prevention of money laundering (AML) screening and more. RegTech is thus extensively used in a variety of banking and financial services, such as transaction monitoring and screening, credit score, trade data monitoring, and risk analysis.
Furthermore, the rising use of AML and customer due diligence (CDD) even in non-financial industries is expected to increase the market for RegTech over the next few years. In addition, as regulations and policies evolve and regulations change, there is a growing demand for substantial improvements in the reporting of quality of data across a variety of nations and regimes, which will boost the development of the RegTech market.
Global Regtech Market: Segmental Analysis by RationalStat
- Based on the deployment mode, the cloud platform holds a prominent share as it is used to standardize compliance processes, find abnormalities, and fix technical problems with digital payment networks. Whereas, on-premise segments hold a significant market share in the global RegTech market.
- Based on End-use, the BFSI segment holds a prominent share in the global RegTech market owing to the increased cases of financial data loss.
- Based on region, Europe holds a dominant share of the global RegTech market as the adoption of RegTech is expected to flourish owing to the MiFID II legislation of the European Parliament.
Competition Analysis: The favorable government policies and initiatives are expected to lead the growth of the global RegTech market in the upcoming years
Due to the presence of many well-established companies in the global RegTech market, there is intense competition in the global RegTech market. The global RegTech market is expected to witness growth in the forthcoming years as developed nations are investing heavily to adopt RegTech. Moreover, fintech solutions are being implemented across various corporate processes in fats growing economies.
Acquisitions, product launches, and partnerships are the identified industry trend in the global RegTech market. Key market players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Significant consolidation is expected in the global RegTech market during the forecasting period 2022-2028.
- In January 2022, Trulioo announced its partnership with PassFort, a leading provider of software-as-a-service regulatory technology solutions. By working together, PassFort and Trulioo will give regulated businesses a way to digitally transform Know Your Customer (KYC) and Know Your Business (KYB) processes, regardless of where in the world the business is located or where its clients are located.
- In December 2021, MetricStream announced greater insight into third- and fourth-party risks, intuitive risk assessments, expanded compliance risk management tools, and new native capabilities for advanced cyber risk quantification and simulation to quantify cyber risk in monetary terms.
Leading market players operating in the global RegTech market include Deloitte Touche Tohmatsu Limited, Thomson Reuters, PricewaterhouseCoopers, Ascent Technologies Inc., Broadridge Financial Solutions Inc., Wolters Kluwer NV, IBM Corporation, Accuity, MetricStream, and Trulioo among others.
RationalStat has segmented the global RegTech market on the basis of component, deployment mode, organization size, application, end-user, and region.
- By Component
- Software
- Services
- By Deployment Mode
- On-premises
- Cloud
- By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- By Application
- Risk & Compliance Management
- Identity Management
- Regulatory Reporting
- Anti-money Laundering (AML) and Fraud Management
- Regulatory Intelligence
- By End User
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecom
- Energy & Utilities
- Others (Government & Public Sector)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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