NEW YORK, United States, May 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Regulatory Reporting Solutions Market By Industry (Wealth & Asset Management, Banks, Securities & Investments, And Insurance), By Solution (Services And Regulatory Reporting Software), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Regulatory Reporting Solutions Market size & share in terms of revenue was valued at USD 493 million in 2022 and it is expected to surpass around USD 1643 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 18.80% during the forecast period 2023 to 2030.”
What are Regulatory Reporting Solutions? How big is the Regulatory Reporting Solutions Industry?
Report Overview:
The regulatory reporting solutions market is a subset of the broader financial technology (FinTech) business. Its primary focus is on the provision of software solutions to financial institutions for the purpose of ensuring the entities' conformity with the regulatory obligations that have been imposed on them. The automation of the process of data collection, processing, and submission to the relevant regulatory authority or agency is the responsibility of the solutions.
This software was designed to eliminate the possibility of errors, fines, and other legal complications for the organizations who use it to manage their finances. The sector is comprised of a variety of software suppliers in addition to service-related businesses. These businesses cater to the requirements of a variety of units within the industry, including banking, insurance, and other financial industries. The market is anticipated to expand at a high compound annual growth rate (CAGR) during the course of the period covered by the forecast, mostly as a result of the increasing complexities involved in financial dealings and the dynamic character of the regulatory measures.
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- Includes Tables and figures have been updated
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- Zion Market Research Methodology
Global Regulatory Reporting Solutions Market: Growth Factors & Restraints
- Increasing requirements for regulatory compliance in order to drive market growth
It is anticipated that the global market for regulatory reporting solutions will expand as a result of the growing demands for regulatory compliance in every region of the world. In order to guarantee that financial institutions contributing to the economy satisfy all of the legal requirements for regulatory compliance, regional governments and the regulatory organisations that they are responsible for are becoming increasingly stringent. Several nations have already started the process of putting into action programmes that will guarantee financial institutions are compliant with the rules and regulations of the economies in which they operate. This is because of the increasing complexity of corporate operations and the tendency of businesses, particularly those operating in politically unstable nations, to bend some norms to some degree. In addition to this, the increased investments in technical breakthroughs, such as the use of artificial intelligence (AI), machine learning (ML), and big data analytics, can contribute to improved performance, which in turn can lead to an increase in the number of customers in the sector.
In most circumstances, regulatory requirements are exceedingly complex. In addition, it is possible that these rules will continue to evolve as the country experiences a higher level of economic development and a greater number of multinational companies. Because of this, businesses whose primary focus is the development of regulatory reporting solutions may discover that it is challenging to stay up with the rapidly changing landscape. In addition, the expenses associated with the implementation and ongoing operation of such systems are quite costly due to the intensive information technology (IT) infrastructure that is required.
It is anticipated that the global market for regulatory reporting solutions will come across further prospects for growth as a result of the rising integration of regulatory reporting solutions with other crucial technologies such as blockchain. This has the potential to significantly improve the program's overall performance and offer improved protection against cybercrimes, which are now the primary source of concern in the industry. In addition, the expanding research on enhancing data analytics systems might work in favour of the market because it will assist in identifying patterns, trends, and insights that can impact corporate decisions and strategies. This could work in favour of the market.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 493 Million |
| Projected Market Size in 2030 | USD 1643 Million |
| CAGR Growth Rate | 18.80% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Accenture, AxiomSL, Bloomberg, Broadridge, Calypso Technology, Cognizant, Deloitte, FIS, Fiserv, Genpact, IBM, Infosys, KPMG, MSCI, Moody's Analytics, NICE Actimize, PwC, SAP, SimCorp, SS&C Technologies, State Street, Synechron, TCS, Temenos, and Wolters Kluwer. |
| Key Segment | By Industry, By Solution, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Regulatory Reporting Solutions Market: Segmentation Analysis
The market for regulatory reporting solutions on a global scale may be broken down into three categories: the industry, the solution, and the region.
Wealth and asset management, banking, securities and investments, and insurance are the four industries that make up the different segments of the worldwide market. The banking business is one of the largest customers of regulatory reporting systems, thus it makes sense that the banking industry would experience the highest increase in the industry overall. The banking industry as a whole is subject to a diverse set of ever-changing rules, many of which demand financial institutions to compile data regarding various areas of their company operations, such as capital sufficiency, liquidity, risk management, and anti-money laundering. In order to avoid being subject to fines or any other kind of legal action, it is necessary for the data that was thus obtained to be analysed and disclosed to the regulatory agencies on time. Deutsche Bank was fined USD 150 million in 2020 by the New York State Department of Financial Services for failing to adequately supervise its relationship with convicted sex offender Jeffrey Epstein. This violation occurred in the year 2020.
The services sector and the regulatory reporting software sector make up the two segments of the worldwide regulatory reporting solutions business, respectively. The market for regulatory reporting software experienced rapid expansion in 2022 as a result of the numerous advantages it offers to businesses in terms of increased adaptability and degree of personalization. The entire process of regulatory reporting is contracted out to a third party as part of the services sector, which is often handled by a third-party provider. This involves the collecting of data, the validation of said data, and the reporting of said data. It is advantageous for smaller institutes to choose this method since it relieves them of the burden of regulatory reporting and eliminates the need for them to invest money creating supporting infrastructure. Reports indicate that the vast majority of Indian banks devote more than 51 percent of their working hours on the preparation of regulatory reports.
The global regulatory reporting solutions market is segmented as follows:
By Industry
- Wealth & Asset Management
- Banks
- Securities & Investments
- Insurance
By Solution
- Services
- Regulatory Reporting Software
Browse the full “Regulatory Reporting Solutions Market By Industry (Wealth & Asset Management, Banks, Securities & Investments, And Insurance), By Solution (Services And Regulatory Reporting Software), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at https://www.zionmarketresearch.com/report/regulatory-reporting-solutions-market
Competitive Landscape
Some of the main competitors dominating the global Regulatory Reporting Solutions market include -
- Accenture
- AxiomSL
- Bloomberg
- Broadridge
- Calypso Technology
- Cognizant
- Deloitte
- FIS
- Fiserv
- Genpact
- IBM
- Infosys
- KPMG
- MSCI
- Moody's Analytics
- NICE Actimize
- PwC
- SAP
- SimCorp
- SS&C Technologies
- State Street
- Synechron
- TCS
- Temenos
- Wolters Kluwer.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Regulatory Reporting Solutions market is likely to expand at a CAGR of around 18.80% during the forecast period (2023-2030).
- In terms of revenue, the Regulatory Reporting Solutions market size was valued at around US$ 493 million in 2022 and is projected to reach US$ 1643 million by 2030.
- The regulatory reporting solutions market is projected to grow at a significant rate due to the growing regulatory compliance requirements.
- Based on industry segmentation, banks were predicted to show maximum market share in the year 2022.
- Based on solution segmentation, regulatory reporting software was the leading solution in 2022.
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Regulatory Reporting Solutions industry?
- What are the main driving factors propelling the Regulatory Reporting Solutions Market forward?
- What are the leading companies in the Regulatory Reporting Solutions Industry?
- What segments does the Regulatory Reporting Solutions Market cover?
- How can I receive a free copy of the Regulatory Reporting Solutions Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Industry, By Solution, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The global regulatory reporting solutions market is expected to witness the highest growth in North America mainly due to the presence of several service and solution providers. The US has an extremely advanced and mature banking industry, which is also the largest contributor to the regional market. Furthermore, the economy is home to some of the world’s most sought-after wealth management companies with clients across the world worth billions of dollars.
This has led to more financial units undertaking the assistance of regulatory reporting solutions to meet the complex compliance regulation of the US and other countries that these companies have a presence in. Furthermore, the US government has one of the toughest implementation laws ensuring complete compliance for domestic entities as well as foreign companies. The European region could be the second-leading region as national governments are ensuring data and money protection for the financial units operating in the countries.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In April 2021, eflow Global, a UK-based regulatory technology company, announced major updates for its regulatory reporting platform called TZTR. The new version will be working along with trade surveillance developed by eflow and its most efficient execution software TZ to provide more holistic solutions to its clients
- In March 2023, ICICI Bank announced the launch of a range of digital solutions for its customers in the capital market along with clients from the custody services sector. These new solutions will allow foreign portfolio investors (FPIs), stock brokers, foreign direct investors, portfolio management service (PMS) providers, and alternative investment funds (AIF) to meet all the necessary banking requirements
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