IMARC Group, a leading market research company, has released a report titled “RegTech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global RegTech market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.2 Billion by 2028, exhibiting a growth rate (CAGR) of 22.1% during 2023-2028.
Regtech, short for "regulatory technology," refers to technology solutions and software applications designed to help organizations, particularly those in highly regulated industries like finance and healthcare, manage and comply with regulatory requirements efficiently and effectively. It uses various technologies such as artificial intelligence, machine learning, data analytics, and automation to streamline regulatory processes, monitor compliance, and reduce the risk of regulatory violations. It assists companies in reporting, data management, risk assessment, and fraud detection, ultimately improving transparency and accountability. As a result, regtech is gaining immense traction across the globe as it helps organizations stay up-to-date with ever-evolving regulations, reducing compliance costs and minimizing the potential for regulatory fines and reputational damage.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/regtech-market/requestsample
RegTech Market Trends and Drivers:
The global regtech market is primarily driven by the increasing complexity of regulatory compliance requirements across various industries, especially in finance and healthcare. Regtech tools help organizations navigate and adapt to evolving regulations efficiently. Moreover, the rising digital transformation and the adoption of financial technologies (fintech) have escalated the need for regtech solutions to ensure compliance in digital financial transactions and data management. Apart from this, the escalating threat of financial fraud, money laundering, and cybersecurity breaches that prompt organizations to invest in regtech tools for robust risk management and fraud prevention is propelling market growth. Furthermore, the heightening emphasis on data privacy and protection has augmented the demand for regtech solutions that assist in managing and securing sensitive customer data, thereby contributing to market growth.
Competitive Landscape with Key Player:
- ACTICO GmbH
- Acuant Inc.
- Ascent
- Broadridge Financial Solutions Inc.
- ComplyAdvantage
- Deloitte Touche Tohmatsu Limited
- International Business Machines Corporation
- Jumio
- London Stock Exchange Group plc
- MetricStream Inc.
- NICE Ltd.
- PricewaterhouseCoopers
- Thomson Reuters Corporation
- Trulioo
- Wolters Kluwer N.V.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Services
Breakup by Deployment Mode:
- Cloud-based
- On-premises
Breakup by Enterprises Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Application:
- Anti-Money Laundering (AML) and Fraud Management
- Regulatory Intelligence
- Risk and Compliance Management
- Regulatory Reporting
- Identity Management
Breakup by End User:
- Banks
- Insurance Companies
- FinTech Firms
- IT and Telecom
- Public Sector
- Energy and Utilities
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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