Global Regtech Market Size to Surge at 21.7% CAGR Through 2028

Global Regtech Market Size to Surge at 21.7% CAGR Through 2028

by Ashwin Naphade

The research report on ‘Global RegTech Market’ available with MarketStudyReport, cites that global RegTech market is likely to witness a 21.7% CAGR during the forecast period 2022-2028.

Increasing cybercrime incidences resulting in financial and data loss, favorable government policies & initiatives, integration of artificial intelligence (AI) & Internet of Things (IoT), digitization, and expansion of the BFSI sector are some of the major factors augmenting the growth of global RegTech market.

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For those unaware, RegTech (Regulatory Technology) is a relatively new field that is fast-evolving. It will help organizations in the short-term by automating more time-consuming compliance operations and minimizing operational risks associated with meeting compliance and reporting duties.

Moreover, RegTech employs blockchain, artificial intelligence (AI), natural language processing, machine learning (ML), and cloud computing to standardize compliance processes, detect anomalies, and resolve technical issues with digital payment networks.

The market is bifurcated on the basis of component, deployment mode, organization size, application, and end-user.

By components, the industry is segregated into services and software. Among these, the software segment is expected to showcase strong growth during 2022-2028. Moving on to the deployment mode, worldwide RegTech market is categorized into cloud and on-premises. Out of these, the cloud vertical is projected to witness significant growth throughout the review timeline.

Citing the organization size, the industry is segmented into small & medium enterprises (SMEs) and large enterprises. Among these, SMEs segment is estimated to hold a significant share in the market in the ensuing years.

With respect to the application spectrum, the market is fragmented into regulatory intelligence, anti-money laundering (AML) & fraud management, regulatory reporting, identity management, and risk & compliance management. Out of these, the AML and fraud management vertical is likely to dominate the RegTech market during the assessment period, due to an increase in financial crimes.

Based on end-user terrain, the industry is classified into energy and utilities, IT & telecom, banking, financial services & insurance (BFSI), and others (government & public sector).

The geographical analysis of this business space extends to Middle East & Africa (South Africa, GCC, and Turkey), Latin America (Brazil, Mexico), Asia-Pacific (Australia, South Korea, India, China, Japan, ASEAN {Indonesia, Vietnam, Malaysia, etc.}), Europe (Germany, UK, France, Spain, Italy, Nordic, Benelux, Poland, Russia), and North America (US, Canada).

The prominent companies operating in the global RegTech industry are Trulioo, MetricStream, Accuity Inc., International Business Machines (IBM) Corporation, Wolters Kluwer N.V., Broadridge Financial Solutions Inc., Ascent Technologies Inc., PricewaterhouseCoopers, Thomson Reuters Corporation, and Deloitte Touche Tohmatsu Limited.

Question & Answer: Global RegTech Market

Question 1: Why is the global RegTech market witnessing rapid growth?

Answer: Increasing cybercrime incidences resulting in financial and data loss, favorable government policies and initiatives, AI and IoT integration, digitization, and expansion of the BFSI sector are some of the major factors augmenting the growth of global RegTech market.

Question 2: How will global RegTech market expand through 2028?

Answer: Global RegTech market is likely to witness a 21.7% CAGR during the forecast period of 2022-2028.

Question 3: Which companies are profiled in the global RegTech market report?

Answer: The prominent companies operating in the global RegTech market are Trulioo, MetricStream, Accuity Inc., International Business Machines Corporation, Wolters Kluwer N.V., Broadridge Financial Solutions Inc., Ascent Technologies Inc., PricewaterhouseCoopers, Thomson Reuters Corporation, and Deloitte Touche Tohmatsu Limited

For more details on this report: https://www.marketstudyreport.com/reports/global-regtech-market-investment-growth-opportunity-analysis-2019-2028/

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Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest Read more...