Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Regtech: Market Forecasts, Trends & Strategies 2023-2028" report has been added to ResearchAndMarkets.com's offering.
Regtech spend will surge to $207 billion globally by 2028, with AI & machine learning unlocking efficiencies. Spend on regtech by financial institutions and other industries will increase by 124% between 2023 and 2028 globally, from $83 billion in 2023.
The latest comprehensive research on the burgeoning field of regulatory technology, commonly known as regtech, has now been detailed in a new report. This analysis delves into how innovations like artificial intelligence (AI) and blockchain technology are revolutionizing the way industries manage and satisfy their regulatory compliance requirements.
The study offers a granular forecast and poignant perspectives on the regtech sector's growth from 2023 to 2028, shedding light on the impetus behind the market evolution and the premiere vendors shaping the regulatory landscape going forward.
The report showcases a Competitor Leaderboard that summarizes the capabilities and performance of 23 key vendors specializing in diverse regtech functions, including regulatory compliance, identity management, and risk monitoring among other crucial areas.
In its assessment of regtech development across 60 strategic countries, the research emphasizes current and future market dynamics, specifically addressing the deployment of next-gen technologies in combating financial crimes and streamlining digital onboarding processes.
Market Outlook & Future Strategies
Analyzed within a framework of six regions, the report spotlights the significant pain points in digital onboarding and the opportunities presented by leading-edge technologies like AI and blockchain for organizations. The powerful insight provided within this document is essential for understanding present market challenges and the tremendous growth potential for regtech vendors.
Key Industry Segment Analysis
Regtech has found solid footing in various sectors, with the study offering a comprehensive analysis on its integration into eight key industries including finance, gaming, and healthcare. This sector-specific analysis will prove critical for industry leaders making strategic decisions based on regulatory technology trends.
Exclusive Market Forecast Suite
As part of the benchmark industry forecasts, the report includes a comprehensive review of regtech market growth, addressing revolutionary changes in banking and property onboarding. The insights are further refined with regional and country-specific data, extending from North America to the African & Middle East markets.
- Noteworthy predictions spotlight the remarkable evolution from a market size of $83 billion in 2023 to an expected $207 billion in 2028, demonstrating a stellar 124% growth.
- Detailed anticipation of the enhancement in digital onboarding efficiency and the substantial time and cost reductions in KYC processes through AI integration.
Key Questions and Expert Insights
Amongst the critical questions the report answers are the projected global spend on regulatory compliance by 2028 and the identification of the biggest opportunities for vendors within the regtech market. With a focus on industry applications and the requisite frameworks and technologies needed, the report provides strategic recommendations for market incumbents and new entrants alike.
The comprehensive research also identifies leading vendors in the regtech market, illuminating their strategic positions and contributions to industry advancements.
Companies Mentioned
- Ascent
- Behavox
- BigID
- Chainalysis
- ComplyAdvantage
- CyberGRX
- Drata
- Elliptic
- Encompass
- Feedzai
- Fenergo
- Hummingbird
- IDology
- Jumio
- Onfido
- Quantexa
- Sift
- Socure
- SymphonyAI Sensa
- Tessian
- Trulioo
- Trunomi
- Unit21
For more information about this report visit https://www.researchandmarkets.com/r/eik2p
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