What is the global market size of Regtech Market?

Global Regtech Market size was valued at USD 8.38 billion in 2021 and is poised to grow from USD 10.47 billion in 2022 to USD 60.77 billion by 2030, growing at a CAGR of 24.9% in the forecast period (2023-2030).

Regtech Market Size, Share, Growth Analysis, By Component(Solution, Services), By Deployment type(On-premises, and Cloud), By Organization Size(Large Enterprises, Small & Medium Enterprises (SMEs)), By Application(Anti-money laundering (AML) and Fraud Management, Regulatory Intelligence, Risk and Compliance Management, Regulatory Reporting), By End User(Banks, Insurance Companies, FinTech Firms, IT & Telecom), By Region - Industry Forecast 2024-2031

Report ID: SQMIG40A2012 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 147 | Figures: 72

Regtech Market Insights

Global Regtech Market size was valued at USD 10.47 billion in 2022 and is poised to grow from USD 13.1 billion in 2023 to USD 77.4 billion by 2031, growing at a CAGR of 24.9% in the forecast period (2024- 2031).

RegTech is gaining traction in the fintech industry this year as a result of an increase in cross-border money transactions and the growth of digital transfer platforms. Electronic payments are increasing the volume and complexity of data in financial transactions.

Another unintended consequence of the rise in electronic transfers is the emergence of more sophisticated digital financial crimes, with rapid e-commerce transactions providing vehicles for criminals to exploit and conceal money laundering and other unlawful financial operations. As a result of these factors, payment service providers and banks are under pressure to meet their compliance obligations and assist in distinguishing financial crime from ordinary operations.

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The global regtech market is dynamic in nature and is characterized by the presence of a blend of well-established brands, niche producers, and emerging players. Innovation is a key competitive factor that further intensifies the overall market competition. Leading brands invest in research and development activities to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. 'PwC', 'NICE Actimize', 'Accuity', 'IBM', 'ACTICO GmbH', 'BWise', 'London Stock Exchange Group plc.', 'Deloitte Touche Tohmatsu Limited', 'Broadridge Financial Solutions Inc.', 'Comprendo', 'RIMES TECHNOLOGIES CORPORATION', 'Infrasoft Technologies Ltd.', 'Wolters Kluwer', 'Ascent Technologies, Inc.'

Industry leaders are making significant investments in leveraging advanced technologies to elevate operational efficiency and facilitate global business expansion. The complexity of complying with varied country-specific regulations poses a significant challenge for enterprises operating across multiple regions in the food industry. To mitigate this challenge, solution providers are strategically investing in innovative integration technologies. Notably, blockchain technology has garnered attention for its transparent and secure record-keeping capabilities, proving beneficial in meeting regulatory demands and ensuring reliability in data management across borders. Furthermore, the adoption of artificial intelligence (AI) presents multifaceted applications within the industry.

The RegTech market has witnessed substantial growth due to the escalating instances of fraud and money laundering plaguing the banking industry. The surge in fraudulent activities, particularly money laundering, has compelled financial institutions to seek more robust RegTech frameworks. These frameworks are instrumental in aiding risk and compliance teams to navigate the increasingly complex landscape of regulatory compliance requirements. IBM's cognitive fraud prevention solution emerged as a pivotal innovation, empowering anti-fraud organizations to swiftly identify and adapt to evolving payment fraud risks.

North America is poised to secure the highest revenue share throughout the forecast period. This dominance is attributed to the escalating pace of digital adoption within the region, serving as a catalyst for the heightened demand for regulated technology solutions. The robust growth trajectory of technology in North America is anticipated to significantly stimulate product demand.

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