Regulatory Technology 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 regulatory technology market size has grown exponentially in recent years. It will grow from $6.71 billion in 2023 to $8.16 billion in 2024 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to the emergence of fintech startups, financial crisis regulatory overhaul, manual and labor-intensive compliance processes, the democratization of financial services, and the emergence of regulators as innovators.
The regulatory technology market size is expected to see exponential growth in the next few years. It will grow to $17.93 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to the focus on sustainability and ESG (Environmental, social and governance) compliance, regulatory reporting automation, real-time transaction monitoring, regulatory compliance benchmarking, and regulatory compliance audit trails. Major trends in the forecast period include regulatory change management platforms, real-time transaction monitoring, regulatory compliance-as-a-service, RegTech for non-financial industries, and blockchain and distributed ledger technology.
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Scope Of Regulatory Technology 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.
Regulatory Technology Market Overview
Market Drivers –
Major Driver Impacting Market Growth
Market Trends –
Major companies operating in the regulatory technology market are focusing on developing technologically advanced solutions, such as AI-powered RegTech platforms, to help financial institutions create compliant public communications. An AI-powered RegTech platform refers to a regulatory technology solution that leverages artificial intelligence (AI) and machine learning (ML) technologies to enhance regulatory compliance processes, risk management, and regulatory reporting within organizations. For instance, in January 2022, Fidelity Investments, a US-based provider of financial services and investment management, launched Saifr, an AI-powered regulatory technology (RegTech) service that helps financial institutions create, review, and approve public communications to mitigate brand, reputational, and regulatory risk. This platform solution creates a human-machine partnership that streamlines the entire compliance process, from the creation of material to the submission of regulations. Saifr offers two solutions, SaifrReview and SaifrScan, facilitating collaboration between marketing and compliance teams for faster, compliant communications. Using a human-machine dynamic, Saifr automates monotonous compliance tasks, allowing teams to focus on creative and complex compliance details. The aim was to help financial institutions create compliant public communications and mitigate brand.
The regulatory technology market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment: Cloud, On-Premises
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By Application: Regulatory Intelligence, Identity Management, Compliance And Risk Management, Fraud Management, Regulatory Reporting
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Regional Insights –
North America was the largest region in the regulatory technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the regulatory technology market are International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited , London Stock Exchange Group Plc , Grant Thornton International Ltd., Thomson Reuters Corporation, Broadridge Financial Solutions Inc., Baker Tilly International Ltd., SAS Institute Inc., LexisNexis Risk Solutions Group, Norton Rose Fulbright LLP, SAI Global Compliance Inc., NICE Actimize Ltd., MetricStream Inc., Jumio Corporation, MasterControl Inc., VERMEG Group, Alto Advisory Limited, Behavox Ltd., ACTICO GmbH, BWise, NetGuardians Inc. , Fintellix Solutions , Infrasoft Technologies Ltd., OpusDatum Limited
Table of Contents
1. Executive Summary
2. Regulatory Technology Market Report Structure
3. Regulatory Technology Market Trends And Strategies
4. Regulatory Technology Market – Macro Economic Scenario
5. Global Regulatory Technology Market Size and Growth
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32. Global Regulatory Technology Market Competitive Benchmarking
33. Global Regulatory Technology Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Regulatory Technology Market
35. Regulatory Technology Market Future Outlook and Potential Analysis
36. Appendix
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