The Payment Monitoring Global Market Report 2023, provides comprehensive information on the payment monitoring market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global payment monitoring market size is expected to grow from $13.74 billion in 2022 to $16.48 billion in 2023 at a compound annual growth rate (CAGR) of 19.90%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The global payment monitoring market size is expected to reach $33.47 billion in 2027 at a CAGR of 19.38%.
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Integration of advanced technologies such as machine learning (ML), artificial intelligence (AI), and big data is the key trend that is gaining popularity in the payment monitoring market. Major companies operating in the market are focused on the advancement of their infrastructures to sustain their position in the market. For instance, in August 2022, the Society for Worldwide Interbank Financial Telecommunication, a Belgium-based cooperative society that serves as a provider of a secure messaging system for financial transactions between banks, launched an artificial intelligence tool that utilizes its predictive data intelligence capability to determine potential problems with cross-borders before a transaction gets completed. This tool uses the data from previous successful transactions to pinpoint errors that may have occurred in the new transaction and thereby reducing failure rates.
The payment monitoring market is segmented:
1) By Type: Case Management, Dashboard And Reporting, KYC Or Customer Onboarding, Watch List Screening
2) By Deployment: Cloud, On-premise
3) By Organization Size: Large Enterprises, Small And Medium Enterprises
4) By Application: Anti-Money Laundering, Compliance Management, Fraud Detection And Prevention, Customer Identity Management
5) By End User: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Retails And E-commerce, Government And Defense, Other End-Users
North America was the largest region in the payment monitoring market in 2022.
The table of contents in TBRC’s payment monitoring market report includes:
1. Executive Summary
2. Payment Monitoring Market Characteristics
3. Payment Monitoring Market Trends And Strategies
4. Payment Monitoring Market – Macro Economic Scenario
5. Payment Monitoring Market Size And Growth
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26. Africa Payment Monitoring Market
27. Payment Monitoring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Payment Monitoring Market
29. Payment Monitoring Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- ACI Worldwide Inc
- BAE Systems plc
- FICO
- Fidelity National Information Services Inc
- Fiserv Inc
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players
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