The anti-money laundering global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Anti-Money Laundering Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The anti-money laundering market size has grown rapidly in recent years. It will grow from $2.53 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to globalization of financial transactions, rise in financial crimes, increased digital transactions, government initiatives and enforcement, regulatory compliance requirements.
The anti-money laundering market size is expected to see rapid growth in the next few years. It will grow to $5.18 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to real-time transaction monitoring, enhancing know your customer (kyc) processes, automated regulatory reporting, increasing focus on trade-based money laundering, enhanced customer monitoring. Major trends in the forecast period include emphasis on transaction monitoring and analysis, cryptocurrency and virtual asset aml solutions, deployment of regulatory technology (regtech), biometric authentication in aml processes, automated suspicious activity reporting (sar).
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Scope Of Anti-Money Laundering Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Anti-Money Laundering Market Overview
Market Drivers –
The growing focus on digital payments and internet banking is expected to propel the growth of the anti-money laundering market going forward. Digital payment refers to the act of transferring money from one payment account to another by a computer, mobile phone, or another digital device. Anti-money laundering technologies are used to prevent online crime and reduce potential money-laundering dangers connected to digital payment. For instance, in February 2023, according to the Ministry of Electronics and Information Technology, an India-based government agency, there were 8,840 crore digital payment transactions in the financial year 2021–22, compared to 5,554 crore transactions in the previous financial year. Therefore, the growing focus on digital payment and internet banking is driving the growth of anti-money laundering market.
Market Trends –
Technological advancements are the key trend gaining popularity in the anti-money laundering market. Major companies operating in the anti-money laundering market are focused on advanced products that could provide better solutions in preventing illegal money laundering and strengthen their position in the market. For instance, in October 2022, ThetaRay, an Israel-based fintech software and big data analytics company, launched an advance software version of its flagship SONAR advanced SaaS anti-money laundering (AML) platform. This version contains significant capability enhancements enabling FinTechs and banks to detect and prevent financial crime through speedier investigations and the discovery of new typologies.
The anti-money laundering market covered in this report is segmented –
1) By Product: Compliance Management, Currency Transaction Reporting, Customer Identity Management, Transaction Monitoring.
2) By Component: Software, Services.
3) By Deployment: Cloud, On-Premise
4) By Organization size: Small and Medium Enterprises (SMEs), Large Enterprises
5) By End-User: BFSI, Government, Healthcare, IT and Telecom, Other End-Users
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Regional Insights –
North America was the largest region in the anti-money laundering market in 2023. The regions covered in the anti-money laundering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the anti-money laundering market report are NICE Actimize Ltd., Tata Consultancy Services Limited, Trulioo Inc., ACI Worldwide Inc., SAS Institute Inc., Fiserv Inc., Oracle Corporation, Bae Systems India Private Limited, Accenture Solutions Pvt. Ltd., CaseWare RCM Inc., TransUnion Holding Company Inc., Cognizant Technology Solutions Corporation, SAP AG, Jumio Corporation, Comarch SA, Feedzai Inc., Napier Technologies Limited, IBM Corporation., Experian Information Solutions Inc., Truth Technologies Inc., Cs&s Computer Systems Inc., Accuity Inc., ComplyAdvantage Ltd., Refinitiv Holdings Limited, Quantexa Limited, Fenergo Limited, RELX Inc., KPMG International Ltd., Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Ernst & Young Global Limited, Thomson Reuters Corporation, FICO TONBELLER AG, Association of Certified Anti-Money Laundering Specialists LLC, Fidelity Information Services LLC
1. Executive Summary
2. Anti-Money Laundering Market Report Structure
3. Anti-Money Laundering Market Trends And Strategies
4. Anti-Money Laundering Market – Macro Economic Scenario
5. Anti-Money Laundering Market Size And Growth
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27. Anti-Money Laundering Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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