Global RegTech Market was at USD 6.8 Billion in 2021 and is growing to approximately USD 44 Billion by 2030, with a CAGR growth of 15% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, August 25, 2022 /EINPresswire.com/ -- The Global RegTech Market offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. As per research, the RegTech market was estimated at around US$ 8.1 billion in 2022, growing at a CAGR of nearly 15% during 2022-2030. The market is projected to reach approximately US$ 44 billion by 2030.

RegTech Market: Overview

The RegTech market comprises the sales of RegTech products and services by organizations that deliver regulatory procedures for the financial sector through cutting-edge technologies. RegTech, or regulatory technology, is a group of businesses that uses cloud computing and software as a service to facilitate companies to comply with laws more quickly and affordably. Regulatory monitoring, surveillance, and compliance are the main functions of RegTech.

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Key Insights:

A) As per the analysis shared by our research analyst, the RegTech market is estimated to grow annually at a CAGR of around 15% over the forecast period (2022-2030).
B) In terms of revenue, their tech market size was valued at around USD 8.1 billion in 2021 and is projected to reach USD 44 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on component segmentation, the software segment was estimated to hold the largest market share in the year 2021.
D) Based on deployment segmentation, the cloud segment is projected to notice tremendous growth during 2022-2030.
E) Based on industry segmentation, the BFSI was the leading revenue-generating category in 2021.
F) On the basis of region, the North American region was the leading revenue generator in 2021.

RegTech Market: Growth Drivers

Interbank transactions can be completed more quickly with the use of blockchain technology. This technology is being used by a number of financial institutions for speeding up transactions, reducing error rates, and eliminating reconciliation. Blockchain is best suited for the payments industry. It can help reduce multi-day settlement cycles to real-time, enhance transaction operations, and improve businesses’ capabilities for AML, KYC, and regulatory compliance data. Additionally, faster transactions and settlements can help a financial institution and its customers to transact easily while eliminating the intermediary charging fee to streamline the process. It might eliminate time-consuming processes that banks use with their clients and for currency exchanges.

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Regional Overview

Asia Pacific is estimated to witness a high CAGR growth during the projected period. The presence of several developing economies in the Asia Pacific and their increasing adoption of new technologies to adhere to regulations meant to improve the effectiveness of financial institutions is boosting the demand for RegTech solutions. Australia, Japan, Singapore, India, China, and New Zealand are noteworthy nations.

The rapid adoption of RegTech software in the region is anticipated. Due to the increased use of new technologies, significant investments in digital transformation, the rapid growth of domestic businesses, overall development of infrastructures, and rising GDP of various countries, the Asia Pacific region is thought to have the fastest-growing RegTech market.

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Recent Development

A) April 2022: With an aim to consolidate the company’s recent biometric acquisitions, GBG announced the formation of independent Americas and Global Product units. This amalgamation made GBG one of the biggest pure-play suppliers of digital ID verification and fraud protection technology in America.
B) April 2022: ComplyAdvantage, a global data technology company that improves the detection of financial crime, published a new Anti-Money Laundering Essentials Guide for Startups. The new manual was developed in conjunction with ComplyLaunch. This program provides qualified businesses free access to ComplayAdvantage’s anti-money laundering and KYC solutions and other tools.

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Key Players

ACTICO GmbH
Ascent Technologies Inc.
Ayasdi AI LLC
Broadridge Financial Solutions, Inc.
Chainalysis Inc.
IVXS UK Limited
Deloitte Touche Tohmatsu Limited
IdentityMind
IBM Corporation
MetricStream Inc.
Thomos Reuters

The global RegTech market is segmented as follows:

By Component

Solution
Services

By Application

Risk & Compliance Management
Regulatory Reporting
Identity Management
Regulatory Intelligence
Anti-Money Laundering & Fraud Management

By Deployment

On-Premises
Cloud

By Industry

Banking
Insurance
Non-Finance

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By Geography

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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