RegTech Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Component (Solutions and Services (Professional Services and Managed Services)), By Deployment Mode (On-premises, Cloud), By Organization Size (SMEs, Large Enterprise), By Application (Risk and Compliance Management, Identity Management, Regulatory Reporting, Fraud Management, Regu
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRegTech Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Component (Solutions and Services (Professional Services and Managed Services)), By Deployment Mode (On-premises, Cloud), By Organization Size (SMEs, Large Enterprise), By Application (Risk and Compliance Management, Identity Management, Regulatory Reporting, Fraud Management, Regu
Global RegTech Market is growing rapidly due to the high compliance costs and growing demand for regulatory intelligence, which is contributing to the adoption of regulatory technology. RegTech is becoming the foundational technology model for the next normal. Many enterprises are adopting regtech as a cost-effective solution to bolster the need for secure transactions with high-speed transfer. With the rapid changes in regulatory frameworks, working habits and customer expectations, compliance and regulatory technology continue to be a growing area of investment for financial institutions as they streamline their operations. Additionally, the growth of the market is on account of the increasing attention to financial regulations, and rapid expansion in collaboration between national regulators and financial institutions in the forecast years. Technology has become the key enabler of excellence and businesses are including advanced technology such as blockchain, Machine Learning (ML) and Artificial Intelligence (AI) gradually in most of the RegTech solutions as digitalization and computing emerges. The increasing regulatory demand and growing internet penetration are further expected to boost the global regtech market in the forecast period.
RegTech also known as regulatory technology, refers to the technological administration of regulatory processes in the financial industry. Regtech's major tasks include regulatory monitoring, reporting, and compliance. Regulatory technology is a cost-effective and dependable technology that helps enterprises quickly adapt to the pressures of rising regulatory obligations. Enterprises are enabling this technology to ease and simplify data management in the ever-changing regulatory landscape and governance while reducing the cost of compliance through modern technology. In a nutshell, RegTech optimizes regulatory compliance and automates critical procedures by integrating SaaS technologies, cloud computing, big data, and artificial intelligence. It also assists firms in managing threats such as cyberattacks, security breaches, and money laundering. The implementation of RegTech in the fintech industry is still in its early stages. However, it has the potential to revolutionize the industry. RegTech does also play a great role in enterprise by developing potential for enhancing the security and prevention of fraudulent activities, improved customer experience and automation of compliance. Solutions like codified-regulations, AI compliance systems, blockchain tracking and smart contracting all have the immense potential to improve regulatory systems.
Rising Need for Faster Transactions
The exponential growth and the massive adoption of regtech applications for faster transactions in the financial process have spurred the growth in regtech market globally. Financial institutions and banks have experienced a variety of challenges related to traditional cross-border payment systems, including additional processing fees, fraud risks in payment channels, security breaches, and increased failure points
Growing Instance of Fraudulent Activities
according to the consumer sentinel network data reports, there has been a rise in imposter scams with the United States customers losing more than USD5.8 billion to fraud in 2021, an increase of more than 70 percent over the previous year.
Increase in collaboration between national regulators & financial institutions
The increasing number of regulatory changes and the rising compliance costs are making more institutions opt for technological advancements. Regulatory organizations in Asia-Pacific, the United States, and Europe are eager to work with the global fintech community. In addition, the strong inclination towards engaging the fintech community and agencies strives for a win-win situation for businesses and governments. Regulatory technology is a cost-effective and dependable technology that helps enterprises quickly adapt to the pressures of rising regulatory obligations. The growing requirement for appropriate rules has opened up opportunities and changed the environment, making data transfer safer, more sustainable, and more efficient. Additionally, since the economic crisis the huge increase in implementation of regulation throughout the financial services industry has led to a drive for operational efficiency and better cost management. Regulators are demanding more advanced governance and data management, as well as enhanced reporting and operational processes. RegTech solutions can provide greater confidence in meeting an organization’s broad governance requirement for risk and compliance. Thus, the growing collaboration between financial institutions and regulatory associations is propelling the growth of Global RegTech Market in the forecast period.
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Market Segmentation
The global regtech market is
Market Players
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2024-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Component Deployment Mode Organization Mode Application Technology End-User |
| Regional scope | North America; Asia-Pacific; Europe; South America; Middle East |
| Country scope | United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE |
| Key companies profiled | ACTICO GmbH, REGnosys Limited, Thomson Reuters, Ascent Technologies Inc., Broadridge Financial Solutions Inc., Ayasdi AI LLC, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation (IBM), London Stock Exchange Group (LSEG), Wolters Kluwer N.V. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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