Anti Money Laundering Market Size, Share, & Trends Analysis, 2019 -2025: Grand View Research, Inc.

19-Mar-2020: The global anti money laundering market size is expected to reach USD 1.99 billion by 2025, registering a CAGR of 13.6% over the forecast period according to a new report by Grand View Research, Inc. As the detection and prevention of money laundering threats increase with improvements in law enforcement activities, criminals and corrupt individuals are taking substantial care to conceal the sources of their illicit wealth.

Global concerns about the growing incidences of sophisticated organized crimes, terrorism, and corruption and their negative impact on peace, security, and development of countries globally have signaled a need for concerted action by governments. To meet the various compliance requirements set by governments, organizations are increasingly adopting solutions such as fraud detection and anti-money laundering. These solutions are anticipated to establish procedures to curb practices facilitated by cyber-criminals and corrupt individuals, reducing the concerns of converting or disguising illegally obtained funds as legitimate income.

AML solutions are expected to aid governments in mitigating the risk of anonymity in transaction and fund transfers that facilitate money laundering activities. This would help reduce the use of cash-based activities involved in activities such as drug trafficking, human smuggling and trafficking, and illicit retail transactions. Moreover, AML is expected to help enterprises to decrease the risk associated with cross-border transactions and the exploitation of virtual currency due to threats. AML solutions would subsequently curb activities such as ransomware, Distributed Denial-Of-Service (DDoS), and malware attacks conducted for money laundering or fraud.

The use of advanced technologies such as anonymous online payment portals, online banking platform, and Peer-to-Peer (P2P) money transfer applications for mobile phones have led to a notable rise in the number of e-transactions taking place across the globe in the past few years. While these developments have eased the way funds can be transferred between two nodes, they have also created vulnerabilities and several new ways for illegally transferring money that are more difficult to detect. Moreover, hackers are potentially transferring or withdrawing money, leaving a minute or no trace of an IP address with the use of anonymizing software and proxy servers. Thus, it is becoming increasingly difficult to detect or trace money laundering activities.

To protect citizens, financial organizations, and businesses from such threats, major nations worldwide are making continuous efforts to ensure that financial and other institutions comply with AML requirements. Moreover, several government regulators have started focusing on advanced FinTech solutions to detect and report financial crimes. Owing to the rising intensity, frequency, and sophistication of money laundering and illicit trading activities, organizations are adopting advanced technologies as legacy solutions fail to provide sufficient security and soon become obsolete.

Moreover, the deployment of advanced technology could boost data security and transparency in financial operations. Regulatory agencies and FinTech companies are also increasingly collaborating to improve Know Your Customer (KYC) and Customer Due Diligence (CDD) platforms. Thus, technologies such as authentication, smartphone-based context-aware authentication, and behavior analysis, as well as biometrics are anticipated witness increased traction, subsequently fueling the growth for anti money laundering market.

In depth research report on Anti Money Laundering Market

https://www.grandviewresearch.com/industry-analysis/anti-money-laundering-market

Further key findings from the report suggest:

·       The global market for anti-money laundering was valued at USD 857.2 million in 2018 and is expected to register a CAGR of 13.6% from 2019 to 2025

·       The software component segment accounted for the largest revenue share of over 62% in 2018

·       The customer identity management product type segment accounted for the largest revenue share of over 32% in 2018

·       The cloud deployment segment is anticipated to register the highest CAGR of 16.0% over the forecast period

·       The North American market accounted for the largest revenue share of over 48% in 2018

·       The market for anti-money laundering is currently dominated by key industry players including Accenture, ACI Worldwide, Inc.; NICE Actimize, Tata Consultancy Services Limited, and SAS Institute Inc.

Grand View Research has segmented the global anti money laundering market on the basis of component, product type, deployment, end use, and region:

Anti Money Laundering Component Outlook (Revenue, USD Million, 2015 - 2025)

·       Software

·       Services

Anti Money Laundering Product Type Outlook (Revenue, USD Million, 2015 - 2025)

·       Transaction Monitoring

·       Customer Identity Management

·       Currency Transaction Reporting

·       Compliance Management

Anti Money Laundering Deployment Outlook (Revenue, USD Million, 2015 - 2025)

·       Cloud

·       On-Premise

Anti Money Laundering End-Use Outlook (Revenue, USD Million, 2015 - 2025)

·       IT & Telecom

·       Healthcare

·       Government

·       BFSI

·       Others

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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/

RegTech Market Size is Expected to Reach USD 55.28 Billion by 2025: Grand View Research, Inc.

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

https://www.grandviewresearch.com/industry-analysis/regulatory-technology-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

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https://www.grandviewresearch.com/industry/communication-services

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/

Video Conferencing Market is Expanding at a CAGR of 9.2% from 2018 to 2025

7-Jan-2019: The global video conferencing market size is expected to reach USD 6.7 billion by 2025, expanding at a CAGR of 9.2% from 2018 to 2025, according to a new report conducted by Grand View Research, Inc. Growing deployment and use of video conferencing solutions in startups, educational institutes,corporates, and healthcare verticals in developing countries, especially in Asia Pacific, is expected to drive the market.

Recently, a majority of countries in Asia Pacific witnessed the development of robust digital communication infrastructure that created the need for video conferencing solutions. Proliferation of video communication-enabled mobile devices and increasing number of video conferencing-as-a-service (VCaaS) providers are also anticipated to contribute to the market growth.

Video conferencing is an effective interaction and communication tool that enables small and large scale enterprises to reduce travel and operational costs incurred in conducting meetings. Demand for remote workforce management using video conferencing solutions has increased owing to rapid globalization. Deployment of such solutions has enabled businesses to effectively communicate with multiple teams or clients in different locations.

Increased adoption of cloud-based video conferencing solutions, owing to benefits such as low operating cost and improved data security, is expected to act as a key driving factor in the global market. Rapid growth in telemedicine, development of startup ecosystem, and increased penetration of online education in developed as well as emerging economies, such as U.S., U.K., Japan, China, and India, are anticipated to play a pivotal role in driving demand for these solutions over the forecast period. Integration of innovative technologies such as virtual reality (VR) is also expected to drive the adoption of these solutions.

 In depth research report on Video Conferencing Market

https://www.grandviewresearch.com/industry-analysis/video-conferencing-market

Further key findings from the study suggest:

·       The software segment is expected to emerge as the fastest growing segment over the forecast period owing to rapid technological advancements that are propelling organizations to continuously update their systems with the latest available technology

·       The cloud segment is expected to expand at the highest CAGR of 10.8% over the forecast period owing to increasing demand for flexibility and remote access

·       Asia Pacific is anticipated to be the fastest growing regional market owing to strong presence of business process outsourcing (BPO) and knowledge process outsourcing (KPO) companies. In addition, major global manufacturing and information technology (IT) companies have established their R&D and production centers in the region

·       Key industry players operating in the market include Array Telepresence Inc.; Adobe Systems Incorporated; Avaya Inc.; Huawei Technologies Co., Ltd.; Logitech International S.A.; Microsoft Corporation; Cisco Systems, Inc.; Polycom Inc.; Vidyo Inc.; and West Corporation.

Grand View Research has segmented the global video conferencing market on the basis of component, deployment, end use, and region:

Video Conferencing Component Outlook (Revenue, USD Million, 2014 - 2025)

·       Hardware

·       Camera

·       Microphone & Headphone

·       Others

·       Software

·       Service

·       Professional

·       Managed

Video Conferencing Deployment Outlook (Revenue, USD Million, 2014 - 2025)

·       On-premise

·       Cloud

Video Conferencing End Use Outlook (Revenue, USD Million, 2014 - 2025)

·       Corporate

·       Education

·       Healthcare

·       Government & Defense

·       BFSI

·       Media & Entertainment

·       Others

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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/

What is Team Collaboration Software?

15-July-2019: The global team collaboration software market size is poised to reach USD 16.60 billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 9.5% during the forecast period. Surging demand for communication and conferencing solutions among enterprises is likely to drive the market.

Increasing need for digitization and visual data sharing is anticipated to stir up the demand for communication and conferencing solutions. Declining cost of video conferencing solutions is encouraging its large-scale deployment across organizations, which earlier was not possible due to high cost of installation. Moreover, integration of web conferencing with other communication tools to develop additional applications into collaborative workspaces is projected to augment the market over the next few years.

Application Program Interfaces (APIs) have enabled organizations to bridge together multiple platforms, providing an omnichannel experience to customers. APIs allow users to work efficiently from remote locations, as they integrate both cloud and on-premise applications, creating a seamless communication between systems and employees.

Organizations are increasingly deploying voice-based virtual team members to assist employees in daily meetings and reporting as part of their efforts to ensure a comfortable workspace for employees. Artificial intelligence is also being used to develop innovative team collaboration software. Augmented Reality (AR) and Virtual Reality (VR) are also being increasingly utilized for the development of team collaboration software.

Enterprises have started realizing the importance of using AI bots and Smart Virtual Personal Assistants (SVPAs) in automating various tasks and improving workplace collaboration. This, in turn, is working in favor of the market. Organizations are already using bots for collaboration purposes, such as taking notes and scheduling meetings.

In depth research report on Team Collaboration Software Market

https://www.grandviewresearch.com/industry-analysis/team-collaboration-software-market

Further key findings from the report suggest:

·       Cloud-based software is expected to witness substantial growth over the forecast period as it reduces the infrastructure cost and offers a centralized management system

·       The conferencing software segment is expected to post a significant CAGR over the forecast period. Growing deployment of conferencing solutions, such as Cisco Webex Meetings, Cisco Jabber, and Adobe Connect, is expected to supplement segment growth

·       The healthcare segment is projected to register the highest CAGR during the forecast period. The growth can be attributed to increasing need for patient engagement and sharing real-time information with them

·       Key market players include Microsoft Corporation, Cisco Systems, Inc., Citrix Systems, Inc., and Oracle Corporation. Integrating software, hardware, and network capabilities together is the growth strategy adopted by the key players to stay ahead in the market.

Grand View Research has segmented the global team collaboration software market on the basis of deployment, software, application, and region.

Team Collaboration Software Deployment Outlook (Revenue, USD Million, 2014 - 2025)

·       Cloud

·       On-premise

Team Collaboration Software Type Outlook (Revenue, USD Million, 2014 - 2025)

·       Conferencing software

·       Communication & coordination software

Team Collaboration Software Application Outlook (Revenue, USD Million, 2014 - 2025)

·       Manufacturing

·       BFSI

·       IT & telecom

·       Retail

·       Healthcare

·       Logistics & transportation

·       Education

Browse more research reports of this category:

https://www.grandviewresearch.com/industry/communication-services

About Grand View Research

Grand View Research, Inc. is a 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/

Business Process Outsourcing Market Hit USD 343.2 billion by 2025: Grand View Research, Inc.

19-March-2019: The global business process outsourcing (BPO) market size is expected to reach USD 343.2 billion by 2025 at a 7.4% CAGR during the forecast period, according to a study conducted by Grand View Research, Inc. Need to reduce operational costs is a key factor anticipated to drive the market. Any additional expense spent on an equipment or business that is not among major competencies of a company is termed as operational costs. An increasing number of companies have been outsourcing these operations, enabling them to focus on core competencies and enhance their business. This results in cost efficiency and effective time as well as resource management.

Furthermore, numerous companies are considering outsourcing as a solution to meet their back office requirements. Increased flexibility, improved service quality, increased productivity, and workload management are some of the additional advantages of outsourcing, which are expected to contribute toward market growth over the next few years.

Rising establishment of call centers and customer service centers in Asia Pacific and North America is also positively affecting market growth. Emergence of next-generation services such as big data analytics, cloud services, and robotic process automation are other factors projected to fuel market growth.

Business process outsourcing is an integral element of the global outsourcing industry. Additionally, BPO is rapidly gaining momentum across an array of verticals such as banking, financial services, and insurance (BFSI), healthcare, manufacturing, IT & telecommunications, retail, and others.

The others segment includes government, education, travel & transportation, construction, and utilities. BFSI is expected to emerge as the fastest-growing segment over the next few years as BPO addresses several challenges faced by the industry. It ensures data management and data integrity. It also offers reliable, relevant, and timely data delivery to improve decision making.

Although the business process outsourcing market is expected to grow considerably over the forecast period, companies exhibit a dependency on external outsourcing service providers. This dependency presents a potential security risk with reference to the integrity and confidentiality of a user’s data. Furthermore, maintaining and preserving the confidentiality and integrity of user’s data is a fundamental concern common for all companies. Moreover, rising budgetary pressures and lack of effective framework to ensure quality of service are some of the key factors hindering market growth.

Partnerships and collaborations is a key strategy among leading players to consolidate their presence in the market. For instance, in October 2014, Capgemini entered into a partnership with NetSuite. NetSuite provides cloud computing solutions worldwide. Through this partnership, Capgemini launched its new virtual company that provides BPO solutions. The various business solutions offered include finance and accounting, human resources, and a host of technology solutions.

 In depth research report on Business Process Outsourcing (BPO) Market

https://www.grandviewresearch.com/industry-analysis/business-process-outsourcing-bpo-market

Further key findings from the study suggest:

·       By service, customer service held over 30.0% of the global BPO market in 2017 due to extensive and widespread establishment of call centers across the world and increasing requirement of technical and maintenance staff across sectors such as IT & telecommunications and healthcare

·       The human resources service segment is predicted to exceed a CAGR of 7.0% over the forecast period, on account of increasing need for resources across various sub-segments such as administration, recruitment & relocation, payment processing, and other employee benefit services

·       North America led the global business process outsourcing market in 2017. This can be attributed to rapid proliferation of the IT & telecommunication sectors in U.S. In 2017, this sector held a market share of over 70.0% in U.S.

·       Prominent market players include Accenture, Infosys Limited, Wipro, and HCL. These players focus on partnerships and collaborations with the objective of consolidating their market presence.

Grand View Research has segmented the global business process outsourcing market based on service, end use, and region:

Business Process Outsourcing Service Outlook (Revenue, USD Billion, 2014 - 2025)

·       Finance & Accounting

·       Human Resources

·       Knowledge Process Outsourcing

·       Procurement & Supply Chain

·       Customer Services

·       Others

Business Process Outsourcing End-Use Outlook (Revenue, USD Billion, 2014 - 2025)

·       Banking, Financial Services, and Insurance (BFSI)

·       Healthcare

·       Manufacturing

·       IT & Telecommunication

·       Retail

·       Others

Browse more research reports of this category:

https://www.grandviewresearch.com/industry/communication-services

About Grand View Research

Grand View Research, Inc. is a 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/