Cloud deployment based RegTech is expected to be the highest revenue generating category, projected to register a CAGR of 15.8% during 2022 – 2032
NEWARK, Del: According to Future Market Insights’ most recent RegTech Market analysis report, the industry will generate US$ 8.2 billion in global sales in 2021. The market is anticipated to increase by 16.2% between 2022 and 2032, reaching a valuation of US$ 45.3 Bn by that year.
The greatest revenue-generating sector is anticipated to be cloud deployment-based RegTech, with a predicted CAGR of 15.8% from 2022 to 2032. The global value of the regulatory technology (regtech) market increased significantly from 2015 to 2021 at a CAGR of over 23.1%, according to Future Market Insights, a provider of market research and competitive intelligence.
According to Muinmos CEO Remonda Kirketerp-Mller, prior to the crisis, RegTech was already a rapidly developing sector, and the pandemic has undoubtedly boosted its growth. The pandemic’s increase in online financial activities, combined with the need for robust, remote solutions for compliance officials working from home, generated an unprecedented demand for RegTech solutions.
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The new environment created by the pandemic has tested operational workflows of all companies across multiple verticals. Many businesses realized that their procedures are not as impermeable and automated as they believed. The realization imparted a sense of strong necessity to automate and digitize as many regulatory procedures and workflows as feasible.
In other words, it increased the demand for RegTech solutions. The automation of regulatory duties makes them dependable support of the business, and there is no going back. As a result, the pandemic aided in raising the prior status quo to a higher level, which now serves as the foundation for further automatization and digitization in the regulatory environment.
Key Takeaways from the Market Study
- Global RegTech Market is expected to reach a market size of US$ 10.1 Bn by 2022.
- The Cloud deployment segment is expected to account for the highest CAGR of 15.8% during the forecast period.
- United States is projected to remain the most dominant market with absolute dollar growth opportunity of US$ 12 Bn during 2022 – 2032.
- The market in Japan is set to experience the highest CAGR of 14.6% during the 2022-2032 forecast period.
“During the projected period, the growing need for risk and compliance management can become a key driver in raising the RegTech market revenue. Furthermore, increased investments by key corporations for the launch of innovative solutions will benefit the RegTech industry trends in the coming years.” comments a Future Market Insights analyst.
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Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the RegTech Market are focused on R&D to produce innovative technological solutions.
- In April 2022, GBG formed separate Americas and Global Product units to consolidate its recent biometrics acquisitions. According to the release, the merger makes GBG the Americas’ largest pure-play digital ID verification and fraud protection technology supplier. GBG also acquired Cloudcheck, a selfie biometrics business located in New Zealand, earlier this year. According to the release, the merger of Acuant and IDology establishes a network that already has 450 million digital identities, which can aid in the battle against synthetic identity theft.
- In April 2022, ComplyAdvantage, a worldwide data technology business that increases the identification of financial crime, has released a new Anti-
Money Laundering Essentials Guide for Startups. The new guide was created in collaboration with ComplyLaunch, a program that gives qualifying firms free access to ComplayAdvantage’s anti-money laundering and KYC solutions, as well as other resources.
Market Segments Covered in RegTech Market Analysis
By Component:
- Solution
- Services
By Application:
- Anti-Money Laundering (AML) & Fraud Management
- Regulatory Intelligence
- Risk and Compliance Management
- Regulatory Reporting
- Identity Management
By Deployment Type:
- Cloud
- On-Premises
By End-User:
- RegTech in Banking
- RegTech in Insurance Companies
- RegTech in FinTech Firms
- RegTech in IT & Telecom
- RegTech in Public Sector
- RegTech in Energy & Utilities
- RegTech in Other End Users
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Region:
- North America Regtech Market
- Europe Regtech Market
- Asia Pacific Regtech Market
- Middle East and Africa Regtech Market
- Latin America Regtech Market
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Regtech Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
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About Future Market Insights, Inc.
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