Our recently published report, “RegTech Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. As per research, the RegTech market was estimated at around US$ 8.1 billion in 2021, growing at a CAGR of nearly 15% during 2022-2030. The market is projected to reach approximately US$ 44 billion by 2030.
RegTech Market: Overview
RegTech, as it is known, is a term that describes the rapidly adaptable, cost-efficient, and secure technology that helps businesses to meet the demands of growing regulatory reporting. It is spreading across all regulated industries, with a focus on the consumer products business and its primary use in the finance industry. RegTech seeks to make regulations more transparent, consistent and standardized while also providing clear interpretations of murky rules and higher levels of quality at lower prices. Regulatory oversight, reporting, and compliance are among its key duties.
Browse the full “RegTech Market By Component (Solution, Services), By Application (Risk & Compliance Management, Regulatory Reporting, Identity Management, Regulatory Intelligence, Anti-Money Laundering & Fraud Management), By Deployment (On-Premises, Cloud), By Industry (Banking, Insurance, Non-Finance), and By Region – Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/regtech-market/
Growth Factors
Demand for faster transactions is propelling the growth of the market
One of the main factors favorably affecting the market is the BFSI (banking, financial services, and insurance) sector’s rapid growth, which coincides with the global trend toward increased digitalization. Additionally, an increase in online fraud cases is costing businesses money and personal information, which is helping the market expand. RegTech also reduces the possibility of errors brought on by human participation and helps in the efficient identification of prohibited activity.
A positive market outlook is being provided by this as well as the extensive use of RegTechin non-finance businesses to automate the process of employee surveillance, compliance data management, fraud prevention, and AML operations. Additionally, the combination of AI and the internet of things with connected gadgets. The untapped potential of developing economies and worries about the General Data Protection Regulation (GDPR) in many regions are also anticipated to offer attractive prospects for RegTech solution providers in the coming years.
Segmental Overview
The market for RegTech is segmented into component, application, deployment, and industry. The cloud segment is projected to witness tremendous growth. Since clients pay as per their consumption patterns, cloud computing services convert fixed expenses into variable costs. A cloud-based solution is offered to meet the unique needs of each customer. Customers can start or discontinue any services using these solutions depending on their current needs. These solutions give businesses the freedom to adapt to their changing contexts.
The implementation of cloud-based solutions has been on the rise. Reduced physical infrastructure, cheap maintenance costs, and constant data accessible from any location at any time are all benefits of the cloud. SaaS is quickly becoming the greatest option for businesses seeking cost-effective functionalities thanks to the rapid improvements in cloud technology.
Regional Overview
The most lucrative region is North America, which is expected to rise by double digits. The main factors influencing the growth of the RegTech industry in this industry are an increased understanding of RegTech among banks and financial institutions as well as an increase in partnerships between RegTech businesses and regulatory bodies. The top 10 RegTech transactions in the globe in 2020 raised over US$ 2.7 billion, or 15% of the total capital raised in the sector.
Asia Pacific is anticipated to expand at a rapid CAGR during the anticipated period. The need for RegTech solutions is rising as a result of the existence of various developing economies in the Asia Pacific region and their growing use of new technology to abide by rules intended to increase the efficacy of financial institutions. Notable countries include Australia, Japan, Singapore, India, China, and New Zealand.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 8.1 Billion |
| Projected Market Size in 2030 | USD 44 Billion |
| CAGR Growth Rate | 15% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | ACTICO GmbH, Ascent Technologies Inc., Ayasdi AI LLC, Broadridge Financial Solutions, Inc., Chainalysis Inc., IVXS UK Limited, Deloitte Touche Tohmatsu Limited, IdentityMind, IBM Corporation, MetricStream Inc., Thomos Reuters, and Others |
| Key Segment | By Component, Application, Deployment, Industry, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Players Insights
The players have implemented various strategies to expand in the global RegTech market. The study contains a thorough competitive analysis of the major RegTech market participants and information on their company overviews, recent developments, and vital business strategies.
March 2022: Actico, a leading provider of artificial intelligence-driven digital decision-making solutions, has teamed with Coinfirm, a cryptocurrency analytics and anti-money laundering company. As a result of the new agreement, financial service providers, including banks, will be able to look into and evaluate money laundering risks for cryptocurrency transactions right away within the ACTICO Compliance Suite.
Some of the prominent players
- ACTICO GmbH
- Ascent Technologies Inc.
- Ayasdi AI LLC
- Broadridge Financial Solutions, Inc.
- Chainalysis Inc.
- IVXS UK Limited
- Deloitte Touche Tohmatsu Limited
- IdentityMind
- IBM Corporation
- MetricStream Inc.
- Thomos Reuters
The global RegTech market is segmented as follows:
By Component
- Solution
- Services
By Application
- Risk & Compliance Management
- Regulatory Reporting
- Identity Management
- Regulatory Intelligence
- Anti-Money Laundering & Fraud Management
By Deployment
- On-Premises
- Cloud
By Industry
- Banking
- Insurance
- Non-Finance
By Region
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America