Global RegTech Market Projected to Reach USD 86.45 Billion by 2032

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

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
  • The U.S.
  • Canada
• 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

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com