13-Mar-2020: The global RegTech
market size is expected to reach USD 55.28
billion by 2025, expanding at a CAGR of 52.8% over the forecast period,
according to a new report by Grand View Research, Inc. The rising number of
fraudulent activities has been a significant factor driving the growth.
Additionally, increasing need for risk and compliance management has led to the
increased adoption of regulatory technology (RegTech) solutions. Implementation
of these solutions helps reduce compliance costs and improves efficiency. It
also speeds up business processes, enhances their reliability, and reduces
hassle for customers and the risk of compliance failures.
RegTech solutions include transaction monitoring, risk and
compliance management, regulatory reporting, identity and control management,
and regulatory intelligence, among others. Customers can choose an appropriate
RegTech solution depending on their preference owing to the presence of a wide
variety of solutions in the market. The risk and compliance management segment
held the largest revenue share in 2018 and is expected to expand at a CAGR of
49.7% over the forecast period owing to the increasing demand for compliance
management.
The regulatory intelligence segment accounted for over 12% of
market share in 2018 and is expected to expand at the highest CAGR over the
forecast period. A large number of small and medium enterprises are deploying
RegTech solutions to avoid additional compliance costs and the costs incurred
due to frauds. In 2018, U.S. led the regulatory technology market in North
America. U.K. is expected to continue to dominate the Europe market over the
forecast period owing to the entry of a large number of companies in the
market.
The European Union established various regulatory standards to monitor
the increasing number of fraudulent activities in the financial sector.
Regulatory compliance is expensive for both financial institutions and
regulators and is also time-consuming. Choosing appropriate standards for
managing fraudulent activities in a rapidly transforming financial industry is
a necessity as well as a challenge.
In
depth research report on RegTech Market
Further key findings from the report
suggest:
·
Risk and compliance management
segment generated the highest revenue in 2018 and is anticipated to expand at a
CAGR of 49.7% over the forecast period
·
North America is projected to expand
at a CAGR of 51.6% from 2019 to 2025 owing to various advancements in
information technology and growing adoption of RegTech solutions, especially in
the financial industry
·
Key players operating in the
regulatory technology market include NICE Actimize; PwC; IBM; London Stock
Exchange Group plc; BWise; Broadridge Financial Solutions Inc.; Accuity; RIMES
TECHNOLOGIES CORPORATION; Wolters Kluwer; Compendor; Infrasoft Technologies
Ltd.; and Deloitte Touche Tohmatsu Limited, among others
Grand View Research has segmented the global RegTech market on the
basis of organization size, application, and region:
RegTech Organization Size Outlook (Revenue, USD Million, 2015 -
2025)
· SMEs
· Large Enterprises
RegTech Application Outlook (Revenue, USD Million, 2015 - 2025)
· Risk & Compliance Management
· Identity Management
· Regulatory Reporting
· Fraud Management
· Regulatory Intelligence
Browse more research reports of this
category:
About Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For
more market analysis reports, please visit: http://www.grandviewresearch.com/
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