The transaction monitoring global market report 2024 from 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.
Transaction Monitoring 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 transaction monitoring market size has grown rapidly in recent years. It will grow from $14.75 billion in 2023 to $17.14 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to increasing use of online payment methods, increased e-commerce transactions, convenient and secure transaction, increase in the number of banking transactions and facility of online banking, increasing need for real-time detection of suspicious activities.
The transaction monitoring market size is expected to see rapid growth in the next few years. It will grow to $31.40 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to increasing digital transactions, rise of cryptocurrencies and blockchain transactions, growing sophistication of financial cyber threats, increase in the deployment of transaction monitoring systems, growing demand for online shopping. Major trends in the forecast period include adoption of the transaction monitoring system, integration of advanced technologies, advancement in transaction monitoring solution incorporating AI and ML, integration of data visualization tools for intuitive transaction analysis, adoption of cloud-based transaction monitoring solutions for scalability.
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Scope Of Transaction Monitoring 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.
Transaction Monitoring Market Overview
Market Drivers –
The rise of cryptocurrencies and blockchain transactions is expected to propel the growth of the transaction monitoring market going forward. Cryptocurrencies refer to a type of digital or virtual currency that uses cryptography for security and operates independently of a central authority. Blockchain transactions refer to the process of transferring cryptocurrency from one party to another within the blockchain network. The demand for cryptocurrencies and blockchain transactions is rising due to numerous factors such as decentralization, financial inclusion, security and transparency, and institutional acceptance. Transaction monitoring in cryptocurrencies and blockchain tracks and analyzes financial activities to detect and prevent fraud, money laundering, and illicit transactions, ensuring regulatory compliance and enhancing security measures. For instance, in August 2023, according to the International Monetary Fund, a US-based financial agency, trading volume by institutional investors in crypto exchanges surged over 1700% from around $25 billion to over $450 billion between the second quarters of 2020 and 2021. Therefore, the rise of cryptocurrencies and blockchain transactions is driving the growth of the transaction monitoring market.
Market Trends –
Major companies operating in static code analysis software are developing innovative solutions such as Qodana to increase their profitability in this market. Qodana is a smart code quality platform that supports over 60 languages, such as Java, JavaScript, Python, and more, allowing developers to analyze code integrity before reviews and testing. For instance, in July 2023, JetBrains s.r.o., a Czech-Republic-based software company, launched Qodana, a static code analysis software platform. This aims to enhance software development processes by providing a smart code quality platform that unifies diverse technological environments. It also aims to streamline processes, enhance scalability and flexibility, and improve GitHub workflow integration, ensuring clean and manageable code bases from the onset to maintain high code quality standards.
The transaction monitoring market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Companies
4) By Application Area: Anti-Money Laundering, Customer Identity Management, Fraud Detection And Prevention, Compliance Management
5) By Verticals: Banking, Financial Services, And Insurance, Government And Defense, Information Technology (IT) And Telecommunications, Retail, Healthcare, Energy And Utilities, Manufacturing, Other Verticals
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Regional Insights –
North America was the largest region in the transaction monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the transaction monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the transaction monitoring market are International Business Machines Corporation, Oracle Corporation, BAE Systems PLC, Fiserv Inc., Fidelity National Information Services Inc., Thomson Reuters Corporation, Refinitiv Limited, Experian Information Solutions Inc., SAS Institute Inc., NICE Systems Ltd., ACI Worldwide Inc., Fair Isaac Corporation, Protiviti Inc., Software AG, CaseWare International Inc., EastNets, Jumio Corporation, Bottomline Technologies Inc., Acuant Inc., ACTICO GmbH , ComplyAdvantage Ltd., Infrasoft Technologies Limited, Beam Solutions Inc., ComplianceWise B.V., Complyadvantage
Table of Contents
1. Executive Summary
2. Transaction Monitoring Market Report Structure
3. Transaction Monitoring Market Trends And Strategies
4. Transaction Monitoring Market – Macro Economic Scenario
5. Transaction Monitoring Market Size And Growth
…..
27. Transaction Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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