The anti-money laundering software market size has demonstrated rapid growth in recent years and is projected to further expand from $2.85 billion in 2024 to $3.22 billion in 2025 at a compound annual growth rate (CAGR) of 13.2%. This growth during the historical period can be attributed to a variety of factors, including increasing financial transactions, stringent regulatory compliance, the globalization of banking, a rise in financial crimes, rising risk management needs, and escalating cybersecurity concerns.
Moreover, the anti-money laundering software market size will continue its robust growth trajectory in the coming years, reaching $5.9 billion in 2029 at a CAGR of 16.3%. The forecasted growth can be credited to a focus on customer due diligence, improvements in sanctions screening, the growth of cryptocurrencies, risks associated with mobile payments, and real-time transaction monitoring. Major trends that will shape the forecast period include increased regulatory stringency, integration of artificial intelligence and machine learning, focus on transaction monitoring and surveillance, automation of due diligence processes, the emergence of cloud-based AML solutions, and enhanced risk-based approaches.
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What Are The Key Growth Drivers Of The Anti-Money Laundering Software Market?
An upswing in the number of money laundering cases is triggering the growth of the anti-money laundering software market. Money laundering, defined as the process of converting funds acquired illegally into legal funds, has been rising, leading to an increased adoption of anti-money laundering software applications. These applications help ensure that organizations meet legal requirements designed to detect and prevent financial crimes. For instance, in March 2023, a report from the Enforcement Directorate (ED) in India indicated that the number of money laundering cases registered in the financial year 2022-23 had reached 579, marking a significant rise compared to previous years. Furthermore, the ED reported a total of 3,497 money laundering cases recorded over the last five years, indicating a growing trend in enforcement actions against financial crimes. Therefore, the rising number of fraudulent activities and the proliferation of money laundering cases will serve as significant growth drivers in the expansion of the anti-money laundering software market.
What Are The Major Segments Of The Anti-Money Laundering Software Market?
• By Component: Software, Services
• By Deployment: On-Premise, On-cloud
• By Application: Transaction Monitoring, Currency Transaction Reporting, Customer Identity Management, Compliance Management, Other Applications
• By End-Use: BFSI, Defense, Healthcare, IT, And Telecom, Retail, Other End-users
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Who Are The Major Players In The Anti-Money Laundering Software Market?
Leading players in the anti-money laundering software market include Accenture Inc., ACI Worldwide Inc., AML Partners LLC, Ascent Business Technology Inc., BAE Systems Inc., Eastnets Holding Limited, Verafin Inc., Fidelity National Information Services Inc., Fiserv Inc., Oracle Corporation, SAS Institute Inc., Sungard Availability Services, Experian Information Solutions Inc., Fico, NICE Systems Ltd., Accuity Inc., SmartSearch, SynerScope B.V., Truth Technologies Inc., Exiger LLC, Global RADAR, The International Business Machines Corporation, GB Group PLC, MSA Focus Inc., KPMG International Limited, RELX PLC, Temenos AG, Quantexa, London Stock Exchange Group PLC, KYC Global Technologies Limited.
Trends are shaping the evolution of the anti-money laundering software market. In June 2023, for instance, Google LLC, a US-based technology company, developed a novel anti-money laundering (AML) artificial intelligence (AI) solution. This AI-powered product aids global financial institutions in the efficient detection of money laundering activities.
Which Region Is Expected To Register Rapid Growth In The Anti-Money Laundering Software Market?
North America was the largest region in the anti-money laundering software market in 2024, while the Asia-Pacific region is projected to record the fastest growth in the forecast period. The geographical regions encompassed in the anti-money laundering software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Anti-Money Laundering Software Market Report 2025 Offer?
Anti-money laundering software refers to solutions that analyze customer data and identify suspicious activity. This software utilizes advanced tools and technology to assist legal and financial institutions in meeting the legal requirements set by financial regulators to detect and combat financial crime. The potential applications for this software span a wide range, including data management, procedural filtering, predictive analysis, and machine learning. The Anti-Money Laundering Software Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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