Anti-Money Laundering Software Market to Reach $19 Billion, Globally, by 2033 at 16.7% CAGR: Allied Market Research
The anti-money laundering software market is expected to witness notable growth owing to rise in online payment modes in bank transactions, an increase in strict regulations and compliances for anti-money laundering, and rise in the adoption of internet solutions. Moreover, growth in the adoption of analytics solutions and surge in the integration of advanced technologies are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, lack of consumer knowledge and awareness and high initial cost and expense considerations limit the growth of the anti-money laundering software market.
Wilmington, New Castle, Delaware , Feb. 05, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Anti-Money Laundering Software Market by Component (Software and Service), Product Type (KYC/CDD and Sanction Screening, Transaction Monitoring, Case Management, and Reporting), Deployment (On-premise and Cloud), Organization Size (Large Enterprises, and Small and Medium-sized Enterprises), and End-User (Banks and Financial Institutes, Insurance, and Gaming and Gambling): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the anti-money laundering software market was valued at $4 billion in 2023, and is estimated to reach $19 billion by 2033, growing at a CAGR of 16.7% from 2024 to 2033.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $4 billion |
| Market Size in 2033 | $19 billion |
| CAGR | 16.70% |
| Segments Covered | Component, Product Type, Deployment, Organization Size, End-User, and Region |
| Drivers | Rise in online payment modes in bank transactions |
| Increase in strict regulations and compliance for anti-money laundering | |
| Rise in adoption of internet solutions | |
| Opportunities | Growth in the adoption of analytics solutions |
| Surge in the integration of advanced technologies | |
| Restraints | Lack of consumer knowledge and awareness |
| High initial cost and expense considerations |
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The software segment accounted for the largest share in 2023.
By component, the platform segment accounted for the largest share in 2023, contributing to three-fifths of the market revenue as financial institutions and organizations are increasingly adopting AML software to meet stringent regulatory requirements related to anti-money laundering and combating financial crimes.
The transaction monitoring segment accounted for the largest share in 2023
By product type, the transaction monitoring segment accounted for the largest share in 2023, contributing to more than two-fifths of the market revenue. This dominance is primarily due to the critical role transaction monitoring plays in identifying suspicious financial activities and ensuring regulatory compliance.
The on-premise segment accounted for the largest share in 2023
By deployment, the on-premise segment accounted for the largest share in 2023, contributing to more than three-fifths of the market revenue. On-premise deployments provide organizations with greater control over sensitive financial data, which is crucial for industries like finance and banking where data privacy and security are paramount.
The large enterprises segment accounted for the largest share in 2023
By organization size, the large enterprises segment accounted for the largest share in 2023, contributing to more than three-fifths of the market revenue as large enterprises operate across multiple geographies and handle a significant volume of transactions, necessitating advanced AML solutions to monitor and manage financial activities effectively.
The banks and financial institutions segment accounted for the largest share in 2023
By end-user, the banks and financial institutions segment accounted for the largest share in 2023, contributing to more than two-fifths of the market revenue. This dominance is driven by the critical role that financial institutions play in combating financial crimes, regulatory compliance, and protecting against risks associated with money laundering and fraud.
North America region to maintain its dominance by 2033
By region, North America held the highest market share in terms of revenue in 2023, driven by the region's well-established gaming infrastructure, widespread adoption of digital technologies, and a large base of esports enthusiasts. The region has seen significant investments from media companies, and brands looking to capitalize on the rapidly growing digital ecosystem.
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Leading Market Players: -
- LexisNexis Risk Solutions
- Thomson Reuters Corporation
- HyperVerge Technologies Private Limited
- Moody’s Corporation
- SAS Institute Inc.
- Eastnets Holding Ltd.
- ACI Worldwide, Inc.
- NICE Actimize
- IMTF
- Verafin Solutions ULC.
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The report provides a detailed analysis of these key players in the anti-money laundering software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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