RegTech Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope

RegTech, or regulatory technology, is a set of enterprises that employ cloud computing technology and software-as-a-service (SaaS) to assist businesses in complying with regulations more efficiently and cost-effectively. RegTech’s primary functions are regulatory surveillance, monitoring, and compliance. RegTech is engaged in providing regulatory processes within the financial industry via advanced technologies.

Sizing and Forecast

The regtech market size has grown rapidly in recent years. It will grow from $13.78 billion in 2023 to $16.21 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to rising need for faster transactions, a rise in disposable income and growing cost of compliance.

The regtech market size is expected to see rapid growth in the next few years. It will grow to $30.04 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to rising number of fraudulent activities, strategic partnerships and collaborations and rising trend of digitization. Major trends in the forecast period include use of artificial intelligence (ai) technologies, focus on machine learning and natural language processing-based products, focus on cloud-based solutions, focus regulatory intelligence platforms and focus on blockchain-based platforms.

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Segmentation & Regional Insights

The regtech market covered in this report is segmented –

1) By Component: Solutions, Services
2) By Deployment Type: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Risk And Compliance Management, Identity Management, Regulatory Reporting, Anti-Money Laundering (AML) And Fraud Management, Regulatory Intelligence
5) By End-User: Banking, Insurance, Non-Banking Financial End-Users, Non-Financial And Other End Users

North America was the largest region in the regtech market in 2023. The regions covered in the regtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising number of fraudulent activities such as money laundering in the financial sector is expected to propel the growth of the RegTech market in the forecast period. Fraudulent activities such as money laundering have increased and therefore financial organizations need a more powerful RegTech framework that can help risk and compliance teams manage the deluge of ever-increasing regulatory compliance and progressively sophisticated breaches successfully. For example, in 2022, according to a report published by LexisNexis Risk Solutions, a US-based global data and analytics company, the costs of fraud for U.S. and Canadian financial services companies are rising. U.S. financial services companies pay $4.23 instead of $3.64 for every $1 lost to fraud, a 16.2% increase. Canadian financial services companies’ costs increased by 19.6%, from $3.16 in 2020 to $3.78 in 2022. Thus, the rising number of fraudulent activities increases the demand for the RegTech market.

Key Industry Players

Major companies operating in the regtech market report are IBM Corporation, NICE Ltd, Thomson Reuters Corporation, Broadridge Financial Solutions Inc, Wolters Kluwer N.V., London Stock Exchange Group plc, MetricStream Inc, GB Group plc, ACTICO GmbH, Ascent Technologies, Inc., Accenture, ACI worldwide, BAE system, Oracle corporation, Centenal, CustomerXPs, IDfy, Merkle Science, Ant Group, Tencent, Lufax, Zhong An, Alibaba, Baidu, Yu’eBao, LiCaiTong, HuaBei, IVXS Limited, Pole Star Space Applications, PricewaterhouseCoopers Private Limited, CLAUSEMATC, REGnosys Limited, Tessian, Coryltics, Alyne, Blinking, CleverSoft, ComplyAdvantage, CyNation, DataGuard, Dathena, ElectronicId, FacePhi, Fenergo, 4STOP, Governance.com, Hawk:AI, IDpal, Privitar, RegBot, Kompany, AQMetrics, ForcePoint, Amazon, Microsoft, Google, Ayasdi AI LLC, Hummingbird RegTech Inc., Jumio Corporation, MindBridge Analytics Inc., Ceptinel RegTech, Contraloría privada, Codebase Technologies, Azakaw, Sysnet Global Solutions, Privacy Rating, Truata Limited, FinReg Global Solutions Limited, RegTech Africa, Intergreatme, ThisIsMe, DocFox, Entersekt

The regtech market report table of contents includes:

1. Executive Summary

2. RegTech Market Characteristics

3. RegTech Market Trends And Strategies

4. RegTech Market – Macro Economic Scenario

5. Global RegTech Market Size and Growth

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32. Global RegTech Market Competitive Benchmarking

33. Global RegTech Market Competitive Dashboard

34. Key Mergers And Acquisitions In The RegTech Market

35. RegTech Market Future Outlook and Potential Analysis

36. Appendix