According to a new market research report “RegTech Market by Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region – Global Forecast to 2023″, published by MarketsandMarkets, the RegTech market size is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5%.
The major drivers for the RegTech market include the increased cost of compliance, adoption of regulatory sandbox approach, and low entry barriers for Software-as-a-Service (SaaS)-based offerings.
Browse and in-depth TOC on “RegTech Market”
28 – Tables
33 – Figures
109 – Pages
Request PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=63447434
Regulatory Intelligence Application is expected to grow at the highest CAGR during the forecast period.
The regulatory intelligence application is expected to grow at the highest CAGR during the forecast period, owing to the much-needed functionality of identifying and interpreting regulatory changes which enables financial institutions to easily manage the changing regulatory environment and minimize the risk of non-compliance. Additionally, the analytics provide financial institutions with insights which can lead to better informed decisions regarding regulatory adherence.
Large Enterprises is expected to hold the largest market share during the forecast period.
The large enterprises segment is expected to hold the largest market share, as most publicly traded companies are compelled to adopt regulatory programs. Additionally, as rules and regulations keep altering as per industry and region, keeping a check on all the processes manually does not remain feasible, which further emphasizes on the importance of RegTech solutions and services. Service and consulting vendors such as Deloitte, IBM, PwC, and Thomson Reuters assist large enterprises to realize the benefits of efficiently managing their business functions in accordance to the compliance mandates by enabling them to effectively implement RegTech solutions as per their business requirements.
Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=63447434
North America is expected to hold the largest market share during the forecast period.
As per the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the early adoption of RegTech solutions by the North American financial institutions to reduce compliance cost by leveraging advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, big data, and cloud computing. North America constitutes of developed economies, such as the US and Canada. These countries are significantly advanced in terms of technology and its application deployments. Moreover, stringent regulations and the need to comply with them are expected to drive the market growth in North America.
The major vendors covered in the RegTech market include Abside Smart Financial Technologies (Spain), Accuity (US), ACTICO (Germany), Alto Advisory (Luxembourg), Broadridge (US), Compendor (Germany), Compliance Solutions Strategies (CSS) (US), Deloitte (US), EastNets (UAE), Fenergo (Ireland), IBM (US), Infrasoft Technologies (India), Jumio (US), Lombard Risk (UK), London Stock Exchange Group (LSEG) (UK), MetricStream (US), Nasdaq BWise (Netherlands), NICE Actimize (US), PwC (UK), RIMES Technologies (US), SAI Global (Australia), Sysnet Global Solutions (Ireland), Thomson Reuters (Canada), Trulioo (Canada), and Wolters Kluwer (Netherlands).
Browse Adjacent Markets @ Software and Services Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org/
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/regtech.asp