The regulatory reporting solutions global market report 2024from 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.
Regulatory Reporting Solutions Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The regulatory reporting solutions market size has grown rapidly in recent years. It will grow from $6.02 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to stringent regulatory requirements, financial crises and regulatory reforms, globalization and cross-border transactions, operational efficiency and cost reduction, and risk management imperatives.
The regulatory reporting solutions market size has grown rapidly in recent years. It will grow from $6.02 billion in 2023 to $6.75 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to stringent regulatory requirements, financial crises and regulatory reforms, globalization and cross-border transactions, operational efficiency and cost reduction, and risk management imperatives.
The regulatory reporting solutions market size is expected to see rapid growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to the globalization of business operations, rising instances of financial fraud, the emergence of fintech and regtech, the demand for transparency and accountability, and the and the shift towards cloud-based solutions. Major trends in the forecast period include automation and AI, integrated platforms, real-time reporting, cybersecurity and data privacy, and blockchain technology.
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Scope Of Regulatory Reporting Solutions MarketThe 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.
Regulatory Reporting Solutions Market Overview
Market Drivers –
The rising number of fraudulent activities is expected to propel the growth of the regulatory reporting solutions market going forward. Fraudulent activities encompass deceptive actions or schemes to achieve financial gain through dishonest or unlawful means. The widespread adoption of digital technologies and the internet has increased social engineering tactics, malware, and hacking methods, enabling fraudsters to gain unauthorized access to sensitive information and exploit unsuspecting victims for financial gain. Regulatory reporting solutions help detect and prevent fraudulent activities by ensuring compliance with regulatory requirements and facilitating transparency and accuracy in financial reporting. For instance, in May 2023, according to UK Finance, a UK-based trade association for the banking sector, authorized fraud losses reached £485.2 million ($616 million), with 207,372 total cases in 2022, an increase of 6% compared to 2021. Therefore, the rising number of fraudulent activities is driving the growth of the regulatory reporting solutions market.
Market Trends –
Major companies operating in regulatory reporting solutions are focused on automating workflow by integrating technologies such as generative AI-powered features, to manage compliance, streamline reporting processes, and mitigate regulatory risks. Generative AI-powered features in regulatory reporting solutions leverage advanced algorithms to autonomously create and suggest data mappings and actionable insights in the financial markets. For instance, in March 2024, Sweep, a UK-based sustainability data management platform, unveiled its latest breakthrough in regulatory compliance solutions named Sweepy. It has generative AI-powered features to help companies simplify compliance with the corporate sustainability reporting directive (CSRD) and other regulatory requirements. The tool offers data ingestion, recommends financial and impact materiality mappings using industry benchmarks, and automates the reporting and disclosure of non-financial data. It provides AI-driven recommendations for emissions factors customized to the business’s activities and actionable plans for reducing emissions and achieving sustainability objectives. Additionally, it offers AI suggestions to address data input irregularities that could otherwise jeopardize compliance and audit procedures.
The regulatory reporting solutions market covered in this report is segmented –
1) By Solution: Regulatory Reporting Software, Services
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
3) By Application : Financial Institutions, Banking, Information Technology (IT) And Telecommunication, Other Application
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Regional Insights –
North America was the largest region in the regulatory reporting solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory reporting solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the regulatory reporting solutions market are Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, Oracle Corporation, KPMG International Limited, Fiserv Inc., Fidelity National Information Services Inc., Bloomberg LP, Thomson Reuters Corporation, Broadridge Financial Solutions Inc., Wolters Kluwer N.V., Moody’s Corporation, SS&C Technologies Holdings Inc., IHS Markit Ltd., SAS Institute Inc., BearingPoint Holding BV, VERMEG Group, AxiomSL Holdings Inc., Compliance Solutions Strategies (CSS) Holdings Inc., CUBELogic Limited, Cube Software Limited, Encompass Corporation, Meritsoft Limited, Cappitech Ltd., AQMetrics Limited
Table of Contents
1. Executive Summary2. Regulatory Reporting Solutions Market Report Structure3. Regulatory Reporting Solutions Market Trends And Strategies4. Regulatory Reporting Solutions Market – Macro Economic Scenario5. Regulatory Reporting Solutions Market Size And Growth…..27. Regulatory Reporting Solutions Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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