Overview
The global Regulatory Technology Industry is garnering fabulous growing accruals. The market growth attributes to the growing acceptance of regulatory sandbox, focusing on financial regulations. There are lower entry barriers for cloud-based solutions in this market, which is an additional driving factor. Besides, the rising adoption of regulatory technologies in financial institutions to cope with the varying regulatory environment to reduce the risk of non-compliance escalates market growth.
Market Research Future (MRFR) asserts that the global Regulatory Technology Industry is poised to grow at 22.8% CAGR throughout the review period (2019–2025). Moreover, the advantages that regulatory technology offers to enterprises in strengthening compliance and mitigating risks drive the market growth, providing well-informed decisions about regulatory adherence. Risks associated with fraud in business operations is a key growth driver for the Regulatory Technology Industry.
COVID 19 lockdown has made building data- and technology-driven resilience much more pressing than before the crisis, prevailing work from home policies. Financial firms quickly adapted to significant changes during the pandemic, although not without some operational and technology weaknesses emerging. After several months of working from home, financial risk, and regulatory compliance professionals with no clear end in sight, struggle to collaborate with their teams.
Conversely, the lack of skilled expertise is a major factor forecasted to impede the growth of the market. Also, the initial investment required to implement regulatory solutions acts as a hurdle to market growth. Nevertheless, the rapidly growing trend of cloud platform adoption would support market growth throughout the assessment period. Also, growing numbers of businesses would accelerate the growth of the market. Moreover, stringent regulations and compliance by legal authorities boost the growth of the market.
Regulatory Technology Industry - Segments
The report is segmented into four dynamics;
By Application : Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Regulatory Reporting, Identity Management, and others.
By Deployment Mode : On-Premises and Cloud-based.
By Organization Size : Small-to-Medium-Sized Enterprises (SMEs) and Large Enterprises.
By Region : Americas, Europe, APAC, and the Rest-of-the-World.
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Global RegTech Market - Regional Analysis
North America dominates the global Regulatory Technology Industry. The largest market share attributes to the presence of several notable players and technology development centers boosts market growth, allowing the early adoption of futuristic risk tracking technologies. Besides, the increasing demand for risk & compliance and fraud management solutions to protect critical information drives the growth of the regulatory technology industry.
The US accounts for 80%-85% share in the regional market due to the rising government efforts to push the adoption of cloud technologies. The North American Regulatory Technology Industry is expected to retain its dominance throughout the forecast period.
Europe stands second in the global Regulatory Technology Industry. Various start-ups are being set up in this region and are giving a boost to their market share. Additionally, technological advances and market proliferation of regulatory intelligence management support the Regulatory Technology Industry growth. Also, the market is fostered by the increasing adoption of cloud-based solutions and digitalization.
Also, well-established infrastructures in the region influence the regional market growth, allowing a favorable environment for developments and early adoption of technologies. The European Regulatory Technology Industry is estimated to grow at the highest CAGR during the assessment period.
The Asia Pacific Regulatory Technology Industry is growing rapidly. Factors such as increasing numbers of businesses in APAC countries such as China, South Korea, Japan, and India substantiate the regional market growth. Moreover, the augmenting demand for the deployment of regulatory technology technologies increases sales in the market.
Simultaneously, massive demand for advanced solutions that can provide comprehensive support and real-time access to data increases the market size. The APAC Regulatory Technology Industry is projected to create a substantial revenue pocket during the review period.
Global Regulatory Technology Industry – Competitive Analysis
Highly competitive, the global RegTech market appears fragmented due to the presence of many well-established players. To gain a significantly larger competitive share, major players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch. These technology providers invest substantially in the development of novel technologies and upgrades. Industry players focus on optimized situational awareness for customers to ensure their mission success.
Major Players:
Players leading the RegTech market include International Business Machines Corporation (US), Deloitte Touche Tohmatsu Limited (US), London Stock Exchange Group plc. (UK), PWC (UK), NICE (Israel), Thomson Reuters Corporation (US), Compliance Solutions Strategies (US), Bwise (Netherland), Lomabard Risk (UK), Abside Smart Financial Technologies SL (UK), Infrasoft Technologies Ltd. (India), Fintellix Solutions (India), NetGuardians Inc. (Switzerland), OpusDatum Ltd. (UK), Alto Advisory (Luxembourg), Suade Labs (UK), Clausematch Ltd. (UK), Signzy (India), Onfido (UK), CUBE (UK), Trunomi (UK), Elliptic (UK), and ComplyAdvantage (UK), among others.
Industry/ Innovation/ Related News:
September 21, 2020 ---- The Australian Prudential Regulation Authority (APRA) and the Australian Competition and Consumer Commission (ACCC) announced the signing an updated Memorandum of Understanding (MoU) designed to foster closer collaboration between the two regulators. The two regulators had a strong working relationship, founded on a common focus of supporting a safe, competitive, and efficient financial system.
The new MoU would enable both agencies to broaden the engagement model, emphasizing proactive information sharing and collaboration, increasing transparency further. The agreement would further strengthen the collaboration between the two Agencies, who have worked closely together during the COVID-19 pandemic issues, including resolution planning and authorizations on anti-competitive arrangements in the financial system.
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RegTech is primarily a cloud-based or software-as-a-service (Saas)-based application, which is a transparent, consistent, and standardized way of providing higher quality and low cost solutions to the financial sector.
With the increasing cases of money laundering and terror funding, various new rules and regulations are being implemented by governments to maintain a safe environment, which can be made possible by using regulatory technology tools.
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The global RegTech market revenue is expected to reach $7,201.1 million by 2023, growing at a high CAGR during the forecast period.
Due to the increasing focus on data protection rules, they have to monitor transparency in money transactions, and strictly follow compliance rules laid down by the regulatory bodies, in order to avoid high penalties.
An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments.
The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.
Overview The banks and financial institutions operate in a highly regulated environment and continuously face new regulations to prevent money laundering and restrict terrorist funding.
The annual spending of the financial institutions for non-compliance issues is more than $100 billion.
Market Revenue and Segmentation Analysis The global RegTech market revenue is estimated to be $2,321.5 million in 2018 and is expected to reach $7,207.6 million by 2023, growing at a CAGR of 25.4% during the forecast period 2018–2023.
The solutions include compliance management, reporting, identity management, and risk management.
The solutions help organizations in key compliance areas and risk aversion for AML, KYC, MiFID II, Basel III, PSD 2, Solvency II, and AIFMD.
With the major focus of governments across regions with GDPR guidelines, RegTech is expected to majorly impact the financial service organizations.
Market OverviewThe global regulatory technology research report is garnering fabulous growing accruals.
The market growth attributes to the growing acceptance of regulatory sandbox, focusing on financial regulations.
Besides, the rising adoption of regulatory technologies in financial institutions to cope with the varying regulatory environment to reduce the risk of non-compliance escalates market growth.
Moreover, the advantages that regulatory technology offers to enterprises in strengthening compliance and mitigating risks drive the market growth, providing well-informed decisions about regulatory adherence.
Moreover, stringent regulations and compliance by legal authorities boost the growth of the market.Get a Free Sample @https://www.marketresearchfuture.com/sample_request/7343SegmentsThe report is segmented into four dynamics; By Application : Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Regulatory Reporting, Identity Management, and others.
The largest market share attributes to the presence of several notable players and technology development centers boosts market growth, allowing the early adoption of futuristic risk tracking technologies.
OverviewThe global regulatory technology market is garnering fabulous growing accruals.
The market growth attributes to the growing acceptance of regulatory sandbox, focusing on financial regulations.
Moreover, the advantages that regulatory technology offers to enterprises in strengthening compliance and mitigating risks drive the market growth, providing well-informed decisions about regulatory adherence.
Risks associated with fraud in business operations is a key growth driver for the regulatory technology market.Complete Report Details @ https://www.marketresearchfuture.com/reports/computer-aided-design-market-8531COVID 19 lockdown has made building data- and technology-driven resilience much more pressing than before the crisis, prevailing work from home policies.
Moreover, stringent regulations and compliance by legal authorities boost the growth of the market.Regulatory Technology Market - SegmentsThe report is segmented into four dynamics; By Application: Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Regulatory Reporting, Identity Management, and others.
The largest market share attributes to the presence of several notable players and technology development centers boosts market growth, allowing the early adoption of futuristic risk tracking technologies.
Regulatory Technology (RegTech) Market Research Report Information, —By Application (Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Identity Management, Regulatory Reporting), Deployment – Global Forecast till 2023 Market HighlightsAmong the various applications such as Risk & Compliance Management, Fraud Management, Regulatory Reporting, Identity Management, the regulatory intelligence segment is expected to grow at the highest CAGR during the forecast period.
Request Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7343 Key PlayersThe key players in the RegTech market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are— Deloitte Touche Tohmatsu Limited (US), International Business Machines Corporation (US), London Stock Exchange Group plc.
(UK), NICE (Israel), PWC (UK), Thomson Reuters Corporation (US), Bwise (Netherland), Compliance Solutions Strategies (US), Lomabard Risk (UK), Infrasoft Technologies Ltd. (India), Abside Smart Financial Technologies SL (UK), Fintellix Solutions (India), OpusDatum Ltd. (UK), NetGuardians Inc. (Switzerland), Alto Advisory (Luxembourg).
The geographical analysis of RegTech market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).North America holds the largest market share and is expected to continue this dominance during the forecast period.
North America has one of the most highly developed IT sectors in countries like the US and Canada, has greater adoption of RegTech.
