24-Apr-2024 | Facts and Factors
Findings from Facts and Factors report "RegTech Market Size, Share, Insights Report By Solution Type (Compliance Management, Risk Management and Identity Management & Control), By Deployment Type (Cloud-Based RegTech Solutions and On-Premise RegTech Solutions), By Organization Size (Large Enterprises, Small and Medium Enterprises (SMEs)), By Industry Vertical (Banking & Financial Services and Healthcare, Energy, and Others), and By Region – Global Industry Analysis, Emerging Trends, Demand and Forecast Report 2024 – 2032" states that the global RegTech market in 2023 was approximately USD 13.27 billion. The market is expected to grow at a CAGR of 23.15% and is anticipated to reach around USD 86.45 billion by 2032.
RegTech or regulatory technology is known as the subset of financial technology which focuses on the technologies that may enable the provision of regulatory requirements more effectively and efficiently than the firm’s existing capabilities. RegTech solutions use different technology-enabled processes, such as machine learning, cloud computing blockchain. The various benefits of using RegTech are it reduces compliance cost thereby simplifying and standardizing compliance process. It provides sustainable and scalable solutions for the business to grow. RegTech solution plays a major role in banking and financial services like KYC, Transaction Monitoring, Customer Credit Scoring, AML screening, trade data tracking, fraud prevention, compliance risk analysis and many more. Some of the major applications where RegTech is used are compliance management, identity management reporting, and risk management.
Browse the full “RegTech Market Size, Share, Insights Report By Solution Type (Compliance Management, Risk Management and Identity Management & Control), By Deployment Type (Cloud-Based RegTech Solutions and On-Premise RegTech Solutions), By Organization Size (Large Enterprises, Small and Medium Enterprises (SMEs)), By Industry Vertical (Banking & Financial Services and Healthcare, Energy, and Others), and By Region – Global Industry Analysis, Emerging Trends, Demand and Forecast Report 2024 – 2032" https://www.fnfresearch.com/regtech-market
The increase in the cost of compliance is one of the major factors driving the global RegTech market in the analysis period. The dramatic increase in the financial services regulations after the financial crisis for more than 60 percent in retail and corporate banks has increased the need for RegTech solutions due to its low cost and higher quality. Further, increasing trend for regulatory sandbox have provided RegTech companies to innovate new and improved regulatory solution for the financial industries which will help in the growth of the global RegTech market in coming years.
Furthermore, the low entry barriers for SaaS based solutions are also one of the major factors responsible for the growth of the market in the analysis period. RegTech companies use cloud technology through software as a service to help the organizations to comply with regulations more efficiently and less expensively. The rapid growth in the applications based on artificial intelligence (AI), Machine Learning, and Blockchain will offer new opportunities for the RegTech companies in the forecast period.
Global RegTech market is categorized based on application, organization size and region. Based on application, the market is majorly divided into compliance management, regulatory intelligence, risk management, identity management, fraud management, and regulatory reporting. The regulatory intelligence application segment of the global RegTech market is expected to grow with the highest CAGR due to functionality it provides to financial institutions to easily identify and interpret regulatory changes. Further, Large enterprise and SME’s is the organization size segment of the global RegTech market. Large enterprise segment is predicted to hold the largest market share in the global RegTech market in the forecast period.
Based on geography the market is divided into Asia Pacific, North America, Europe, MEA, and Latin America. In terms of revenue, North America was the leading player with the highest market share in 2019 and is expected to continue its supremacy in the forecast period. The existence of the leading player in the region is the major factor driving the global RegTech market in the analysis period. Europe is the second leading region in the global RegTech market and is expected to hold its position in the forecast period. The growth in this region is due to the high funding raised by the FinTech companies significantly. Asia Pacific is projected to grow with the highest CAGR in the forecast period. Latin America and Middle East and Africa are expected to have lucrative market for the RegTech solutions.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 5.31 Billion |
Projected Market Size in 2026 |
USD 33.1 Billion |
CAGR Growth Rate |
21.27% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
IBM, Thomson Reuters, Abside Smart Financial Technologies, Accuity, Infrasoft Technologies, MetricStream, Broadridge, Compendor, Compliance Solutions Strategies (CSS), ACTICO, Deloitte, EastNets, Fenergo, Jumio, London Stock Exchange Group (LSEG), NICE Actimize, RIMES Technologies, SAI Global, PwC, Sysnet Global Solutions, Trulioo, Wolters Kluwer, and Others |
Key Segment |
By Application, Organization, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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The prominent players contributing in the global RegTech market are
Accuity Inc., ACTICO GmbH, ACUANT, INC., Ascent Technologies, Inc., Broadridge Financial Solutions, Inc., Chainalysis Inc., ComplyAdvantage Limited, Deloitte Touche Tohmatsu Limited, IBM Corporation, IBM Corporation, Jumio Corporation, MetricStream Inc., NICE Ltd., Thomson Reuters, Wolters Kluwer N.V, and others.
The report segments of the global RegTech market as follows:
By Solution Type
- Compliance Management
- Risk Management
- Identity Management & Control
By Deployment Type
- Cloud-Based RegTech Solutions
- On-Premise RegTech Solutions
By Organization Size
- Large Enterprises
- Small and Medium Enterprises (SMEs)
By Industry Vertical
- Banking & Financial Services
- Healthcare
- Energy
- Others
By Regional Segment Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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