The Anti Money Laundering Global Market Report 2023, provides comprehensive information on the anti money laundering 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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In accordance with The Business Research Company’s recently published Anti Money Laundering Global Market Report for 2023, it is anticipated that the market will witness a substantial expansion, progressing from its 2022 valuation of $2.17 billion to a projected $2.53 billion in 2023. This ascent is attributed to a robust compound annual growth rate (CAGR) of 16.5%.
Regrettably, the Russia-Ukraine conflict has cast a shadow over the global economic recovery in the wake of the COVID-19 pandemic, particularly in the near term. This ongoing war has precipitated widespread economic sanctions, price escalations within the commodities sector, intricate supply chain disruptions, all culminating in a broader inflationary impact across various goods and services, thus considerably affecting numerous global markets.
Nevertheless, it is worth noting that the Anti-Money Laundering market is poised for substantial expansion in the coming years, with the market size expected to reach a formidable $4.5 billion by 2027, driven by a consistent CAGR of 15.5%. This underscores the resilience and growth potential of this critical sector in a rapidly evolving economic landscape.
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The prevailing trend that has garnered substantial attention in the dynamic sphere of anti-money laundering is undeniably technological advancement. Prominent entities within this sector are directing their efforts towards pioneering and implementing cutting-edge solutions. These innovative technologies are designed to fortify the defenses against illicit money laundering, thereby solidifying their competitive edge in the market.
As a prime example, consider the remarkable initiative undertaken by ThetaRay, a distinguished fintech software and big data analytics company headquartered in Israel. In October 2022, the company unveiled an advanced iteration of its flagship SONAR SaaS anti-money laundering (AML) platform. This latest version boasts a slew of notable enhancements, equipping both FinTechs and financial institutions with the means to identify and thwart financial criminal activities with unprecedented swiftness and precision. These enhancements usher in a new era of expedited investigations and the unearthing of novel money laundering typologies, exemplifying the vanguard of anti-money laundering technology.
The anti money laundering market 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
North America was the largest region in the anti money laundering market in 2022.
The table of contents in TBRC’s anti money laundering market report includes:
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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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