New Castle, Delaware, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “RegTech Market by Component (Blockchain Technology, Decentralized Applications (dApps), and Smart Contracts), Application (Assets Tokenization, Compliance and Identity, Marketplaces and Liquidity, Payments, Data and Analytics, and Others (Stablecoins, Prediction Industry, Decentralized Exchanges)): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global RegTech industry generated $9 billion in 2022, and is projected to reach $66.9 billion by 2032, growing at a CAGR of 22.6% from 2023 to 2032.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/6020
By applying technologies such as artificial intelligence, automation, data analytics, and blockchain RegTech can assist businesses and organizations achieve regulatory compliance more efficiently, precisely, and cost-effectively. Regtech tools seek to monitor transactions that take place online in real-time to identify issues or irregularities in the digital payment sphere.
Prime Determinants of Growth
The prime determinants of the RegTech (Regulatory Technology) market typically include regulatory compliance needs, the level of regulatory complexity and scrutiny in a particular industry or region is a key determinant. The more stringent and complex the regulations, the greater the demand for RegTech solutions to ensure compliance. In addition, advances in technology, such as artificial intelligence, machine learning, and data analytics, drive innovation in RegTech solutions. The market is influenced by the availability and adoption of cutting-edge technologies. Furthermore, different industries, such as finance, healthcare, and legal, have varying levels of adoption of RegTech solutions. The specific needs and regulations within each sector impact market dynamics. Moreover, as data privacy and security concerns grow, companies are increasingly seeking RegTech solutions to help them manage and protect sensitive data in compliance with regulations like GDPR and CCPA.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $ 8,962.94 million |
| Market Size in 2032 | $ 66,911.26 million |
| CAGR | 22.6% |
| No. of Pages in Report | 552 |
| Segments Covered | Component, deployment mode, enterprise size, application, end user and Region. |
| Drivers | Increased adoption of advance technologies Improved focus on financial regulations Increased collaboration between national regulators and financial institutions |
| Opportunities | Increased General Data Protection Regulation (GDPR) concerns across region |
| Restraints | Varied and conflicting regulations across different jurisdictions Privacy and security concern |
COVID-19 Scenario
- The COVID-19 pandemic had a moderate impact on the RegTech market. Regulations and compliance standards across sectors were altered as a result of the pandemic. Boosted regulatory scrutiny increased the demand for RegTech solutions that may assist businesses in adapting to new rules and ensuring compliance in quickly changing environments.
- Furthermore, cost-cutting measures were required throughout industry as a result of the outbreak, as companies seeking to optimize their resource utilization grew more interested in RegTech solutions that expedited compliance processes, decreased manual labor, and minimized operational inefficiencies.
Buy This Report (552 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3LgOuOc
The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for more than two-thirds of the global RegTech market revenue and is estimated to maintain its leadership status throughout the forecast period, this was attributed to Furthermore, cost-cutting measures were required throughout industry as a result of the outbreak, as companies seeking to optimize their resource utilization grew more interested in RegTech solutions that expedited compliance processes, decreased manual labor, and minimized operational inefficiencies. However, the services segment is projected to manifest the highest CAGR of 25.1% from 2023 to 2032, as cost-cutting measures were required throughout industry as a result of the outbreak, as companies seeking to optimize their resource utilization grew more interested in RegTech solutions that expedited compliance processes, decreased manual labor, and minimized operational inefficiencies, which are expected to positively impact market growth.
The on-premises segment to maintain its leadership status throughout the forecast period
Based on deployment mode, the on-premises segment held the highest market share in 2022, accounting for nearly two-third of the global RegTech market revenue, due to increased demand to secure critical data from cyber-threats & monitor the invasion of data within the organization, the implementation of on-premises-based RegTech solution is continuing to rise in the market. Furthermore, organizations have direct control over their data and how it is managed with on-premise RegTech solutions. However, cloud segment is projected to manifest the highest CAGR of 24.4% from 2022 to 2032, due to increased demand to secure critical data from cyber-threats & monitor the invasion of data within the organization, the implementation of on-premises-based RegTech solution is continuing to rise in the market. Furthermore, organizations have direct control over their data and how it is managed with on-premise RegTech solutions.
The large enterprises segment to maintain its leadership status throughout the forecast period
Based on enterprise size, the large enterprise segment held the highest market share in 2022, accounting for more than two-thirds of the global RegTech market revenue, due to increased demand to secure critical data from cyber-threats & monitor the invasion of data within the organization, the implementation of on-premises-based RegTech solution is continuing to rise in the market. Furthermore, organizations have direct control over their data and how it is managed with on-premise RegTech solutions, which is driving the growth of the market. However, the small and medium sized segment is projected to manifest the highest CAGR of 25.2% from 2022 to 2032, due to increased demand to secure critical data from cyber-threats & monitor the invasion of data within the organization, the implementation of on-premises-based RegTech solution is continuing to rise in the market. Furthermore, organizations have direct control over their data and how it is managed with on-premise RegTech solutions.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, owing to the presence of large number of RegTech providers in the U.S. and Canada drive the enterprises toward RegTech adoption. For instance, in October 2022, investment in RegTech solutions has increased in North America, showing a growing realization of the value these technologies bring to firms working in a complicated regulatory environment. However, the Asia-Pacific region is expected to witness the fastest CAGR of 25.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, as the RegTech market is highly fragmented in the region, owing to large number of market players indulged in various developments such as partnership, acquisition, and collaboration to expand the RegTech market in the Asia-Pacific region For instance, August 2021, according to wolters Kluwer RegTech in Asia Pacific supporting the move towards granular data reporting, established regulatory reporting practices are being overhauled, prompting financial institutions to abandon traditional form-based reporting procedures and migrate to new platforms.
Leading Market Players: -
- Actico gmbh
- Acuant, inc
- Ascent
- Broadridge financial solutions, inc.
- Complyadvantage
- International business machines (ibm)
- Metricstream inc.
- Nice ltd
- Thomson reuters
- Wolters kluwer n.v
The report provides a detailed analysis of these key players in the global RegTech market. These players have adopted different strategies such as expansion, merger, and product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/regtech-market/purchase-options
RegTech Market Key Segments:
By Component:
- Solution
- Service
By Deployment Mode:
- On-premise
- Cloud
By Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
By Application:
- Anti-money laundering and Fraud Management
- Regulatory Intelligence
- Risk and Compliance Management
- Regulatory Reporting
- Identity Management
By End User:
- IT and Telecom
- Public Sector
- Energy and Utilities
- Others
- Banks
- Insurance Companies
- FinTech Firms
Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):
Multi-Cloud Networking in Fintech Market by Component (Solution, Service), by Enterprise Size (Large Enterprises, SMEs), by Cloud Type (Public, Private): Global Opportunity Analysis and Industry Forecast, 2021-2031
Public Cloud in BFSI Market by Component (Software, Services), by Type (Infrastructure as a Service, Platform as a Service, Software as a Service, Others), by Enterprise Size (Large Enterprises, SMEs), by End User (Banking, NBFCs, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Hybrid Cloud in BFSI Market by Component (Solution and Services), Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS)), Enterprise Size (Large Enterprises and Small & Medium Size Enterprises), and End User (Banking, NBFCs and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Finance Cloud Market by Component (Solution [Financial Forecasting, Financial Reporting & Analysis, Security, Governance, Risk & Compliance, and Others] and Service), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), and Application (Revenue Management, Business Intelligence, Asset Management, Customer Relationship Management, Enterprise Resource Planning, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Financial Risk Management Software Market by Component (Software, Service), by Deployment Mode (On-premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by End-User (Banks, Insurance Companies, NBFCs, Credit Unions): Global Opportunity Analysis and Industry Forecast, 2022-2031
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
