Middle East & Africa RegTech Market Forecast to 2031 - Regional Analysis - by Component, Deployment Type, Enterprise Size, Application, and Industry Vertical

List of Tables

The Middle East & Africa regtech market was valued at US$ 349.40 million in 2023 and is expected to reach US$ 1,657.60 million by 2031; it is estimated to register a CAGR of 21.5% from 2023 to 2031.

Expansion of AI, Machine Learning, and Blockchain Applications Bolsters Middle East & Africa Regtech Market

AI and ML are robust technologies that are deemed necessary for the automation of business operations. These technologies are also capable of spotting industry trends and providing quick and accurate insights. AI-based systems have the potential to analyze massive amounts of data to detect trends and abnormalities, enabling regulated companies to prevent fraud. To remain relevant in an ever-changing environment, firms should constantly develop their rule-based parameters. AI-powered Regtech solutions may help regulated organizations efficiently acquire, process, and analyze data for regulatory reporting as financial transactions expand. Further, Blockchain is a decentralized, distributed digital ledger that records transactions safely and transparently. Its appeal in the Regtech business stems from its capacity to confer transparency, immutability, and record security. Creating a tamper-proof audit trail for regulatory reporting involves accurate and verifiable information. Blockchain is spread throughout a network of systems, with each machine keeping a copy of the ledger. Blockchain technology eliminates the need for central control, allowing the authentication and recording of transactions without the involvement of a trusted third party, thereby supporting the decentralization, security, and transparency features of Regtech solutions. Thus, the expansion of AI, machine learning, and Blockchain applications is emerging as a significant Middle East & Africa regtech market trend.

Middle East & Africa Regtech Market Overview

Regtech business in Saudi Arabia is still in its early stages. However, there is a growing interest in creating and implementing technological solutions for regulatory purposes. In 2019, the Saudi Arabian Monetary Authority (SAMA) established a regulatory sandbox to examine the impact of regtech on the financial sector and further promote the development of regtech solutions. The deployment of regtech solutions across industries provides significant financial, operational, and consumer safety benefits to the economies embracing them. As a result, the acceptance of these solutions is on the rise in Saudi Arabia, and players in the country are also focusing on developing their own regtech ecosystem. In March 2024, Konsentus, an open ecosystem regtech provider, opened its MENA regional center in Saudi Arabia to deliver open data infrastructure and technology services to regulators and financial services firms in the Kingdom and adjacent regions.

Middle East & Africa Regtech Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Regtech Market Segmentation

The Middle East & Africa regtech market is categorized component, deployment type, enterprise size, application, industry vertical, and country.

By component, the Middle East & Africa regtech market is bifurcated into solutions and services. The solutions segment held a larger share of the Middle East & Africa regtech market share in 2023.

In terms of deployment type, the Middle East & Africa regtech market is bifurcated into on-premise and cloud. The cloud segment held a larger share of the Middle East & Africa regtech market share in 2023.

Based on enterprise size, the Middle East & Africa regtech market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa regtech market share in 2023.

By application, the Middle East & Africa regtech market is segmented into risk and compliance management, AML and fraud management, and identity management. The risk and compliance management segment held the largest share of the Middle East & Africa regtech market share in 2023.

By industry vertical, the Middle East & Africa regtech market is segmented into banks, insurance, and others. The banks segment held the largest share of the Middle East & Africa regtech market share in 2023.

Based on country, the Middle East & Africa regtech market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia segment held the largest share of Middle East & Africa regtech market in 2023.

Broadridge Financial Solutions Inc; Deloitte Touche Tohmatsu Ltd; International Business Machines Corp; MetricStream, Inc.; PricewaterhouseCoopers International Ltd; and Thomson Reuters Corp are some of the leading companies operating in the Middle East & Africa regtech market.

Product Code: BMIRE00031303

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Middle East & Africa Regtech Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 Solution Providers
- 4.2.2 Service Providers
- 4.2.3 End Users
- 4.2.4 List of Vendors in the Value Chain

5. Middle East & Africa Regtech Market - Key Market Dynamics

5.1 Middle East & Africa Regtech Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Consequences of Fraudulent Activities in Financial Operations
- 5.2.2 Collaborations Between National Regulators and Financial Institutions
- 5.2.3 Digitization of Business Operations
5.3 Market Restraints
- 5.3.1 High Development and Deployment Costs
5.4 Market Opportunities
- 5.4.1 Low Entry Barriers for SaaS-based Solutions
5.5 Future Trends
- 5.5.1 Expansion of AI, Machine Learning, and Blockchain Applications
5.6 Impact of Drivers and Restraints:

6. Regtech Market - Middle East & Africa Market Analysis

6.1 Middle East & Africa Regtech Market Revenue (US$ Million), 2021-2031
6.2 Middle East & Africa Regtech Market Forecast Analysis

7. Middle East & Africa Regtech Market Analysis - by Component

7.1 Solutions
- 7.1.1 Overview
- 7.1.2 Solutions: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Services
- 7.2.1 Overview
- 7.2.2 Services: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)

8. Middle East & Africa Regtech Market Analysis - by Deployment

8.1 On-premise
- 8.1.1 Overview
- 8.1.2 On-premise: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Cloud
- 8.2.1 Overview
- 8.2.2 Cloud: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)

9. Middle East & Africa Regtech Market Analysis - by Enterprise Size

9.1 SMEs
- 9.1.1 Overview
- 9.1.2 SMEs: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Large Enterprises
- 9.2.1 Overview
- 9.2.2 Large Enterprises: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)

10. Middle East & Africa Regtech Market Analysis - by Application

10.1 Risk and Compliance Management
- 10.1.1 Overview
- 10.1.2 Risk and Compliance Management: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
10.2 AML and Fraud Management
- 10.2.1 Overview
- 10.2.2 AML and Fraud Management: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
10.3 Identity Management
- 10.3.1 Overview
- 10.3.2 Identity Management: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)

11. Middle East & Africa Regtech Market Analysis - by Industry Vertical

11.1 Banks
- 11.1.1 Overview
- 11.1.2 Banks: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
11.2 Insurance
- 11.2.1 Overview
- 11.2.2 Insurance: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)
11.3 Others
- 11.3.1 Overview
- 11.3.2 Others: Middle East & Africa Regtech Market - Revenue and Forecast to 2031 (US$ Million)

12. Middle East & Africa Regtech Market -Country Analysis

12.1 Middle East & Africa
- 12.1.1 Middle East & Africa: Regtech Market - Revenue and Forecast Analysis - by Country
  - 12.1.1.1 Middle East & Africa: Regtech Market - Revenue and Forecast Analysis - by Country
  - 12.1.1.2 Saudi Arabia: Regtech Market - Revenue and Forecast to 2031 (US$ Million)
    - 12.1.1.2.1 Saudi Arabia: Regtech Market Breakdown, by Component
    - 12.1.1.2.2 Saudi Arabia: Regtech Market Breakdown, by Deployment
    - 12.1.1.2.3 Saudi Arabia: Regtech Market Breakdown, by Enterprise Size
    - 12.1.1.2.4 Saudi Arabia: Regtech Market Breakdown, by Application
    - 12.1.1.2.5 Saudi Arabia: Regtech Market Breakdown, by Industry Vertical
  - 12.1.1.3 United Arab Emirates: Regtech Market - Revenue and Forecast to 2031 (US$ Million)
    - 12.1.1.3.1 United Arab Emirates: Regtech Market Breakdown, by Component
    - 12.1.1.3.2 United Arab Emirates: Regtech Market Breakdown, by Deployment
    - 12.1.1.3.3 United Arab Emirates: Regtech Market Breakdown, by Enterprise Size
    - 12.1.1.3.4 United Arab Emirates: Regtech Market Breakdown, by Application
    - 12.1.1.3.5 United Arab Emirates: Regtech Market Breakdown, by Industry Vertical
  - 12.1.1.4 South Africa: Regtech Market - Revenue and Forecast to 2031 (US$ Million)
    - 12.1.1.4.1 South Africa: Regtech Market Breakdown, by Component
    - 12.1.1.4.2 South Africa: Regtech Market Breakdown, by Deployment
    - 12.1.1.4.3 South Africa: Regtech Market Breakdown, by Enterprise Size
    - 12.1.1.4.4 South Africa: Regtech Market Breakdown, by Application
    - 12.1.1.4.5 South Africa: Regtech Market Breakdown, by Industry Vertical
  - 12.1.1.5 Rest of Middle East & Africa: Regtech Market - Revenue and Forecast to 2031 (US$ Million)
    - 12.1.1.5.1 Rest of Middle East & Africa: Regtech Market Breakdown, by Component
    - 12.1.1.5.2 Rest of Middle East & Africa: Regtech Market Breakdown, by Deployment
    - 12.1.1.5.3 Rest of Middle East & Africa: Regtech Market Breakdown, by Enterprise Size
    - 12.1.1.5.4 Rest of Middle East & Africa: Regtech Market Breakdown, by Application
    - 12.1.1.5.5 Rest of Middle East & Africa: Regtech Market Breakdown, by Industry Vertical

13. Competitive Landscape

13.1 Company Positioning & Concentration
13.2 Heat Map Analysis

14. Industry Landscape

14.1 Overview
14.2 Market Initiative
14.3 Product Development
14.4 Mergers & Acquisitions
14.5 Partnership and Collaboration

15. Company Profiles

15.1 International Business Machines Corp
- 15.1.1 Key Facts
- 15.1.2 Business Description
- 15.1.3 Products and Services
- 15.1.4 Financial Overview
- 15.1.5 SWOT Analysis
- 15.1.6 Key Developments
15.2 Deloitte Touche Tohmatsu Ltd
- 15.2.1 Key Facts
- 15.2.2 Business Description
- 15.2.3 Products and Services
- 15.2.4 Financial Overview
- 15.2.5 SWOT Analysis
- 15.2.6 Key Developments
15.3 Thomson Reuters Corp
- 15.3.1 Key Facts
- 15.3.2 Business Description
- 15.3.3 Products and Services
- 15.3.4 Financial Overview
- 15.3.5 SWOT Analysis
- 15.3.6 Key Developments
15.4 PricewaterhouseCoopers International Ltd
- 15.4.1 Key Facts
- 15.4.2 Business Description
- 15.4.3 Products and Services
- 15.4.4 Financial Overview
- 15.4.5 SWOT Analysis
- 15.4.6 Key Developments
15.5 MetricStream, Inc.
- 15.5.1 Key Facts
- 15.5.2 Business Description
- 15.5.3 Products and Services
- 15.5.4 Financial Overview
- 15.5.5 SWOT Analysis
- 15.5.6 Key Developments
15.6 Broadridge Financial Solutions Inc
- 15.6.1 Key Facts
- 15.6.2 Business Description
- 15.6.3 Products and Services
- 15.6.4 Financial Overview
- 15.6.5 SWOT Analysis
- 15.6.6 Key Developments

16. Appendix

16.1 Word Index
16.2 About The Insight Partners