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DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The 'regtech global market opportunities and strategies to 2031' report has been added to
The global RegTech market reached a value of nearly $9,692.2 million in 2021, having increased at a compound annual growth rate (CAGR) of 21.0% since 2016. The market is expected to grow from $9,692.2 million in 2021 to $22,000.4 million in 2026 at a rate of 17.8%. The market is then expected to grow at a CAGR of 14.6% from 2026 and reach $43,572.5 million in 2031.
Growth in the historic period resulted from rising need for faster transactions, a rise in disposable income and growing cost of compliance. Factors that negatively affected growth in the historic period were high cost of software.
Going forward, rising number of fraudulent activities, strategic partnerships and collaborations and rising trend of digitization will drive market growth. Factors that could hinder the growth of the RegTech market in the future include threat to cybersecurity and consumer data privacy and concerns regarding data privacy associated with RegTech solutions.
The RegTech market is segmented by component into solutions and services. The solutions market was the largest segment of the RegTech market by type, accounting for 62.9% of the total market in 2021. The services market is expected to be the fastest-growing segment in RegTech market type, going forward at a CAGR of 18.8% during 2021-2026 period.
The RegTech market is segmented by deployment type into cloud and on-premises. The cloud market was the largest segment of the RegTech market by thickness accounting for 56.1% of the total market in 2021. The cloud market is expected to be the fastest-growing segment in RegTech market by deployment type, going forward at a CAGR of 20.3% during 2021-2026 period.
The RegTech market is segmented by organization size into large enterprises, small and medium-sized enterprises (SMEs). The large enterprises was the largest segment of the RegTech market by organization size, accounting for 74.3% of the total market in 2021. The large enterprises segment is expected to be the fastest-growing segment in RegTech market segmented by organization size, going forward at a CAGR of 18.1% during 2021-2026 period.
The RegTech market is segmented by end-user into banking, insurance, non-banking financial end-users, non-financial and other end users. The banking was the largest segment of the RegTech market by end-user, accounting for 45.6% of the total market in 2021. The non-financial and other end users segment is expected to be the fastest-growing segment in RegTech market segmented by end-user, going forward at a CAGR of 19.2% during 2021-2026 period.
The RegTech market is segmented by application into risk and compliance management, identity management, regulatory reporting, anti-money laundering (AML) and fraud management, regulatory intelligence. The risk and compliance management market was the largest segment of the RegTech market by application accounting for 30.0% of the total market in 2021. The regulatory intelligence market is expected to be the fastest-growing segment in RegTech market by deployment type, going forward at a CAGR of 19.2% during 2021-2026 period.
North America was the largest region in the RegTech market, accounting for 38.3% the global market in 2021. It was followed by Asia-Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the RegTech market will be Asia-Pacific and the South America, where growth will be at CAGRs of 20.5% and 19.2% respectively from 2021-2026.
Market-trend-based strategies for the RegTech market include use of artificial intelligence (AI) technologies, focus on machine learning and natural language processing-based products, focus on cloud-based solutions, focus regulatory intelligence platforms and focus on blockchain-based platforms.
Player-adopted strategies in the RegTech market include focus on using innovative technologies to solve the growing challenges through collaborations and partnerships, focus on enhancing the effectiveness of end-to-end enterprise fraud solutions through the launch of new products and focus on offering enhanced cloud-based software tools to clients through strategic acquisitions.
Key Topics Covered:
1. RegTech Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
7.1. Introduction Of Artificial Intelligence
7.2. Focus On Machine Learning and Natural Language Processing
7.3. Launch Of Cloud-Based Solutions
7.4. Focus On Regulatory Intelligence Platform
7.5. Introduction Of Blockchain As Regulatory Solution
7.6. Product Innovations
8. Global Market Size and Growth
9. Global RegTech Market Segmentation
10. RegTech Market, Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
18. Competitive Landscape And Company Profiles
19. Company Profiles
20. Key Mergers And Acquisitions In The RegTech Market
21. RegTech Market Opportunities And Strategies
22. RegTech Market, Conclusions And Recommendations
IBM Corporation NICE Ltd. Thomson Reuters Corporation Broadridge Financial Solutions Inc. Wolters Kluwer N.V.
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