According to the [190+ Pages] research report; the global RegTech Market in 2019 was approximately USD 5.31 Billion. The market is expected to grow at a CAGR of 21.27% and is anticipated to reach around USD 33.1 Billion by 2026. Top market players are IBM, Thomson Reuters, Abside Smart Financial Technologies, Accuity, Infrasoft Technologies, MetricStream, Broadridge and others.
New York, NY, Feb. 02, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “RegTech Market By Application (Compliance Management, Regulatory Intelligence, Risk Management, Identity Management, Fraud Management, and Regulatory Reporting), By Organization Size (Large enterprise and SME’s),- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020-2026” .
“According to the research study, the global RegTech Market was estimated at USD 5.31 Billion in 2019 and is expected to reach USD 33.1 Billion by 2026. The global RegTech Market is expected to grow at a compound annual growth rate (CAGR) of 21.27% from 2019 to 2026”.
RegTech or regulatory technology is known as the subset of financial technology that focuses on the technologies that may enable the provision of regulatory requirements more effectively and efficiently than the firm’s existing capabilities. RegTech solutions use different technology-enabled processes, such as machine learning, cloud computing blockchain. The various benefits of using RegTech are it reduces compliance costs thereby simplifying and standardizing the compliance process. It provides sustainable and scalable solutions for the business to grow. RegTech solution plays a major role in banking and financial services like KYC, Transaction Monitoring, Customer Credit Scoring, AML screening, trade data tracking, fraud prevention, compliance risk analysis, and many more. Some of the major applications where RegTech is used are compliance management, identity management reporting, and risk management.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the RegTech Market?
2) What is the market size, share of the RegTech Market?
3) Who are the top market players in RegTech Market?
4) What will be the future market of the RegTech Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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The increase in the cost of compliance is one of the major factors driving the global RegTech market size in the analysis period. The dramatic increase in the financial services regulations after the financial crisis for more than 60 percent in retail and corporate banks has increased the need for RegTech solutions due to its low cost and higher quality. Further, the increasing trends for regulatory sandbox have provided RegTech companies to innovate new and improved regulatory solutions for the financial industries which will help in the growth of the global RegTech market in coming years. Furthermore, the low entry barriers for SaaS-based solutions are also one of the major factors responsible for the growth of the market in the analysis period. RegTech companies use cloud technology through software as a service to help the organizations to comply with regulations more efficiently and less expensively. The rapid growth in the applications based on artificial intelligence (AI), Machine Learning, and Blockchain will offer new opportunities for the RegTech companies in the forecast period.
Top companies contributing in the global RegTech Market are:
IBM, Thomson Reuters, Abside Smart Financial Technologies, Accuity, Infrasoft Technologies, MetricStream, Broadridge, Compendor, Compliance Solutions Strategies (CSS), ACTICO, Deloitte, EastNets, Fenergo, Jumio, London Stock Exchange Group (LSEG), NICE Actimize, RIMES Technologies, SAI Global, PwC, Sysnet Global Solutions, Trulioo, and Wolters Kluwer among others.
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Global RegTech market is categorized based on application, organization size, and region. Based on application, the market is majorly divided into compliance management, regulatory intelligence, risk management, identity management, fraud management, and regulatory reporting. The regulatory intelligence application segment of the global RegTech market is expected to grow with the highest CAGR due to the functionality it provides to financial institutions to easily identify and interpret regulatory changes. Further, Large enterprise and SME’s is the organization size segment of the global RegTech market. The large enterprise segment is predicted to hold the largest market share in the global RegTech market in the forecast period.
The increased popularity of the regulatory sandbox approach, cost of compliance, and a low entry barrier for SaaS-based offerings provided by the RegTech solutions are driving the global RegTech market significantly. Banking and financial institution play a major role in the adoption of RegTech solutions owing to the continuously changing regulations to prevent money laundering and restrict terrorist funding. The hefty amount spent by the banks due to fines and penalties for non-compliance with regulations is increasing the demand for RegTech solutions in the market. Further, the need for transparent and consistent standards for a regulatory process for the financial industry is expected to drive the global RegTech market in the coming years. However, unpredictable regulation between different jurisdictions is a big issue in the financial sector where interconnectedness and the free flow of capital is critical. This factor is hindering the growth of the global RegTech market. The use of AI in regulatory compliance is expected to provide a good opportunity for the RegTech market in the forecast period.
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The RegTech market research report delivers an acute valuation and taxonomy of the RegTech industry by practically splitting the market on the basis of different segments and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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Based on geography the market is divided into Asia Pacific, North America, Europe, MEA, and Latin America. In terms of revenue, North America was the leading player with the highest market share in 2019 and is expected to continue its supremacy in the forecast period. The existence of the leading player in the region is the major factor driving the global RegTech market in the analysis period. Europe is the second leading region in the global RegTech market and is expected to hold its position in the forecast period. The growth in this region is due to the high funding raised by the FinTech companies significantly. Asia Pacific is projected to grow with the highest CAGR in the forecast period. Latin America and the Middle East and Africa are expected to have a lucrative market for RegTech solutions.
Browse the full “RegTech Market By Application (Compliance Management, Regulatory Intelligence, Risk Management, Identity Management, Fraud Management, and Regulatory Reporting), By Organization Size (Large enterprise and SME’s),- Global Industry Perspective, Comprehensive Analysis and Forecast, 2020-2026″ report at https://www.fnfresearch.com/regtech-market-by-application-compliance-management-regulatory-intelligence-1184
The report segments of the global RegTech market as follows:
RegTech Market: Application Segment Analysis
- Compliance Management
- Regulatory Intelligence
- Risk Management
- Identity Management
- Fraud Management
- Regulatory Reporting
RegTech Market: Organization Size Segment Analysis
- Large enterprise
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