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Redding, California - September 26, 2024

RegTech Market to be Worth $32.6 Billion by 2031

RegTech Market Size, Share, Forecast, & Trends Analysis Component (Solutions/Platforms, Services), Application (Regulatory Compliance, Compliance Support), Technology, Organization Size, Deployment Mode, and End-use Industry (BFSI, Healthcare) and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘RegTech Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the RegTech market is expected to reach $32.6 billion by 2031, at a CAGR of 17.3% from 2024 to 2031.

The growth of the RegTech market is primarily driven by the increased focus on automating regulatory compliance processes, the rising need for faster transactions, and growing instances of fraud. However, the high costs of RegTech solutions may restrain the growth of this market.

Moreover, the increasing demand for risk assessment & regulatory compliance solutions in the healthcare industry and the growing popularity of automated regulatory compliance & identity verification solutions in the online gaming industry are expected to generate growth opportunities for the players operating in this market. However, data security and privacy concerns are a challenge impacting the growth of the RegTech market.

The RegTech market is segmented based on component, application, technology, organization size, deployment mode, and end-use industry. The report evaluates industry competitors and analyzes the market at the regional and country levels.

Based on component, the solutions/platforms segment is anticipated to hold the dominant position, with over 83.0% of the market share in 2024. The growing need for monitoring regulatory changes, risk monitoring, and generating reports for compliance departments, increasing focus on solution-centric capabilities, and increasing emphasis on launching money laundering & financial crime management solutions by leading RegTech market players are factors contributing to the segment’s dominant position in the RegTech market. In addition, the benefits offered by the solutions/platforms segment, such as enhanced compliance, real-time monitoring, risk mitigation, data transparency scalability, and improved data management, contribute to the segment's growth.

Based on application, the cybersecurity/information security segment is anticipated to hold the dominant position, with over 25.0% of the market share in 2024. The increasing demand to deploy cyber security or information security solutions across enterprises, rising cybersecurity incidents and data breaches, the growing requirement to deal with changing cyber threats and risks, and the growing significance of cybersecurity solutions in the banking sector are factors contributing to the segment’s dominant position in the RegTech market.

Based on technology, the cloud computing segment is anticipated to hold the dominant position, with over 24.5% of the market share in 2024. The rising need to manage compliance while driving down the costs related to purchasing, installing, and managing the solution, the growing demand for cloud-based analytics and surveillance services, the surge in demand for secure infrastructure to maintain adequate data security, and the growing need of operational cost savings for financial organizations are factors contributing to the segment’s dominant position in the RegTech market.

Based on organization size, the large enterprises segment is anticipated to hold the dominant position, with over 75.0% of the market share in 2024. The segment’s large share is attributed to the strong infrastructure and management of RegTech platforms by skilled IT personnel. Furthermore, the growing demand for fraud management solutions across large enterprises, the growing emphasis on developing strategic IT initiatives among large enterprises, and the increasing need to manage large volumes further support the growth of this segment.

Based on deployment mode, the on-premise segment is anticipated to hold the dominant position, with over 53.0% of the market share in 2024. The increasing on-premise deployment of RegTech solutions by large enterprises, the rising demand for greater security and privacy for consumer data, and the growing demand for service flexibility, enhanced customer experience, and efficiency in managing risks and compliance are factors contributing to the segment’s dominant position in the RegTech market.

Based on end-use industry, the BFSI segment is anticipated to hold the dominant position, with over 35.0% of the market share in 2024. The rising need for effective data management and analytics to interpret large volumes of regulatory data supports, growing demand for real-time fraud detection and risk assessment, and increasing demand for building risk-based compliance programs are factors contributing to the segment’s dominant position in the RegTech market.

Based on geography, Europe is anticipated to hold the dominant position, with over 34.0s% of the market share in 2024. The presence of prominent RegTech players, including Pole Star Space Applications Limited. (U.K.), REGnosys Limited. (U.K.), DataCo GmbH (Germany) is expected to contribute to the high revenue share of this region. In addition, the increased focus on automating regulatory compliance processes, growing adoption of RegTech in BFSI, IT & telecommunication, and government and public sector, stringent government regulations, and growing emphasis on leading companies to provide risk & compliance solutions are factors contributing to the region’s dominant position in the RegTech market.

Key Players

The key players operating in the RegTech market are NICE Ltd. (Israel), Ascent Technologies, Inc. (U.S.), SymphonyAI LLC (U.S.), Broadridge Financial Solutions, Inc. (U.S.), Chainalysis Inc.(U.S.), cleversoft group GmbH (Germany), CORLYTICS Limited (Ireland), DataCo GmbH (Germany), Deloitte Touche Tohmatsu Limited (U.K.), Hummingbird Regtech, Inc. (U.S.), International Business Machines Corporation (U.S.), Jumio Corporation (U.S.), MetricStream, Inc. (U.S.), MindBridge Analytics Inc. (Canada), Pole Star Space Applications Limited (U.K.), REGnosys Limited (U.K.), Trulioo Information Services Inc. (Canada), and Wolters Kluwer N.V. (Netherlands).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5349

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of RegTech?
At what rate is the global demand for RegTech projected to grow for the next five to seven years?
What is the historical market size and growth rate for the RegTech market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which component, application, technology, organization size, deployment mode, and end-use industry segments create major traction in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the RegTech market?
Who are the major players in the RegTech market? What are their specific product offerings in this market?
What recent developments have taken place in the RegTech market? What impact have these strategic developments created on the market?

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Redding, California - September 26, 2024

RegTech Market to be Worth $32.6 Billion by 2031

RegTech Market Size, Share, Forecast, & Trends Analysis Component (Solutions/Platforms, Services), Application (Regulatory Compliance, Compliance Support), Technology, Organization Size, Deployment Mode, and End-use Industry (BFSI, Healthcare) and Geography - Global Forecast to 2031

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