The global RegTech market revenue was around US$ 9 billion in 2022 and is estimated to reach US$ 56.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 22.6% during the forecast period from 2023 to 2031.
RegTech refers to the digitalized method of regulating various industries, such as manufacturing, BFSI, healthcare, and others. The need for governance and oversight is expected to be fuel by the rapid pace of digital transformation and the widespread adoption of technologies like cloud computing, artificial intelligence, and the Internet of Things. These industries carry sensitive data about the customers and business.
Market Driving Factors
The surge in adoption of advanced technologies such as application programming interfaces (APIs), cloud computing, artificial intelligence, and data analytics is estimated to boost the market. In addition, substantial needs to enhance the quality of reported data across different regimes & jurisdictions are experiencing growth with the changing national regulatory and government guidelines. Furthermore, various regulatory bodies are implementing advanced technologies and offering value-added and integrated services to maintain the associated demand for the digital processing of rules.
Surge collaboration between financial institutions & national regulators boosts the market growth. Regulatory bodies across the United States, Asia-Pacific, and the European region are constantly looking forward to collaborating with the fintech community globally. Additionally, this strong inclination between the fintech community & regulators to collaborate seeks a benefit for governments and businesses.
The surge in General Data Protection Regulation (GDPR) concerns across regions drives the market growth. RegTech solutions are disrupting the regulatory landscape by offering technologically cutting-edge solutions within the economic industry. Additionally, the General Data Protection Regulation (GDPR) guidelines become a compulsory application over the customer's personal data. It governs the usage of personal data and introduces a right for people to object to profiling, which is expected to create lucrative prospects for the market in terms of gaining trust & creating service loyalty in the market.
The absence of transparent capabilities and operations is limiting the establishment of standards. These elements limit the market.
Regional Analysis
In 2022, North America dominated the market in terms of the highest growth. This is mainly attributed to a strong economic industry, a high degree of technology usage, complex and developing regulatory frameworks, and a fierce commitment to compliance are all essential considerations. In addition, there is a significant demand for innovative solutions that may speed compliance processes and aid enterprises in more effectively navigating complex laws because the region's concentration of tech-savvy startups, financial institutions, and regulatory issues
Asia-Pacific is estimated to dominate the market in terms of the fastest-growing region during the projection period. This is due to the dynamic economies, which include India, China, Australia, and Singapore are experiencing fast technological adoption and digital transformation across a broad range of businesses. There is a greater awareness of the requirement for sufficient regulatory compliance due to the organizations developing abroad and interacting with various regulatory frameworks. Thus, financial services concentration and regulatory diversity propel the market growth.
Segmentation Insights
End User Insight
The bank's segment dominates the market in terms of the highest growth. This is due to its highly regulated nature, stringent compliance standards, and the need to prevent economic crimes. Banks must comply with strict laws such as Know Your Customer (KYC) and anti-money laundering (AML) rules, which necessitate modern technology to expedite operations, handle threats, and assure compliance, creating surging demand for RegTech solutions.
The public sector segment is estimated to dominate the market in terms of the fastest-growing rate during the projection period. This is owing to surging regulatory complexity and the need for government agencies to efficiently enforce, monitor, and report on compliance with laws. Additionally, the public sector's desire for cutting-edge technical solutions to speed regulatory processes, enhance transparency, and handle threats has risen fast because governments impose more difficult laws across many industries.
Prominent Companies
Segmentation Outline
The global RegTech market segmentation focuses on Component, Deployment Model, Enterprise Size, Application, End User, and Region.
By Component
By Deployment Mode
By Enterprise Size
By Application
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL REGTECH MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: REGTECH MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL REGTECH MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL REGTECH MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 SOLUTION
5.3 SERVICE
6 GLOBAL REGTECH MARKET, BY DEPLOYMENT MODE
6.1 OVERVIEW
6.2 ON-PREMISE
6.3 CLOUD
7 GLOBAL REGTECH MARKET, BY ENTERPRISE SIZE
7.1 OVERVIEW
7.2 LARGE ENTERPRISES
7.3 SMALL AND MEDIUM-SIZED ENTERPRISES
8 GLOBAL REGTECH MARKET, BY APPLICATION
8.1 OVERVIEW
8.2 ANTI-MONEY LAUNDERING AND FRAUD MANAGEMENT
8.3 REGULATORY INTELLIGENCE
8.4 RISK AND COMPLIANCE MANAGEMENT
8.5 REGULATORY REPORTING
8.6 IDENTITY MANAGEMENT
9 GLOBAL REGTECH MARKET, BY END USER
9.1 OVERVIEW
9.2 IT AND TELECOM
9.3 PUBLIC SECTOR
9.4 ENERGY AND UTILITIES
9.5 BANKS
9.6 INSURANCE COMPANIES
9.7 FINTECH FIRMS
9.8 OTHERS
10 GLOBAL REGTECH MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL REGTECH MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 THOMSON REUTERS CORPORATION
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 ACTICO GMBH
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 BROADRIDGE FINANCIAL SOLUTIONS INC
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 ACUANT INC
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 COMPLYADVANTAGE LIMITED
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 METRICSTREAM INC
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 ASCENT
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8. IBM CORPORATION
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 NICE LTD
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 WOLTERS KLUWER N.V
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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