PUBLISHER: TechSci Research | PRODUCT CODE: 1355097
PUBLISHER: TechSci Research | PRODUCT CODE: 1355097
RegTech Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Component, By Deployment Mode, By Organization Size, By Application, By Technology, By End-User, By Region
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Global RegTech Market is growing rapidly due to the high compliance costs and growing demand for regulatory intelligence, which is contributing to the adoption of regulatory technology. RegTech is becoming the foundational technology model for the next normal. Many enterprises are adopting regtech as a cost-effective solution to bolster the need for secure transactions with high-speed transfer. With the rapid changes in regulatory frameworks, working habits and customer expectations, compliance and regulatory technology continue to be a growing area of investment for financial institutions as they streamline their operations. Additionally, the growth of the market is on account of the increasing attention to financial regulations, and rapid expansion in collaboration between national regulators and financial institutions in the forecast years. Technology has become the key enabler of excellence and businesses are including advanced technology such as blockchain, Machine Learning (ML) and Artificial Intelligence (AI) gradually in most of the RegTech solutions as digitalization and computing emerges. The increasing regulatory demand and growing internet penetration are further expected to boost the global regtech market in the forecast period.
RegTech also known as regulatory technology, refers to the technological administration of regulatory processes in the financial industry. Regtech's major tasks include regulatory monitoring, reporting, and compliance. Regulatory technology is a cost-effective and dependable technology that helps enterprises quickly adapt to the pressures of rising regulatory obligations. Enterprises are enabling this technology to ease and simplify data management in the ever-changing regulatory landscape and governance while reducing the cost of compliance through modern technology. In a nutshell, RegTech optimizes regulatory compliance and automates critical procedures by integrating SaaS technologies, cloud computing, big data, and artificial intelligence. It also assists firms in managing threats such as cyberattacks, security breaches, and money laundering. The implementation of RegTech in the fintech industry is still in its early stages. However, it has the potential to revolutionize the industry. RegTech does also play a great role in enterprise by developing potential for enhancing the security and prevention of fraudulent activities, improved customer experience and automation of compliance. Solutions like codified-regulations, AI compliance systems, blockchain tracking and smart contracting all have the immense potential to improve regulatory systems.
Rising Need for Faster Transactions
| Market Overview | |
|---|---|
| Forecast Period | 2024-2028 |
| Market Size 2022 | USD 13 Billion |
| Market Size 2028 | USD 50.7 Billion |
| CAGR 2023-2028 | 25.11% |
| Fastest Growing Segment | BFSI |
| Largest Market | Asia-Pacific |
The exponential growth and the massive adoption of regtech applications for faster transactions in the financial process have spurred the growth in regtech market globally. Financial institutions and banks have experienced a variety of challenges related to traditional cross-border payment systems, including additional processing fees, fraud risks in payment channels, security breaches, and increased failure points. Moreover, due to the participation of multiple intermediaries, transmitting a global payment through regular banking channels is a difficult and multistep procedure. To address these challenges, blockchain-based payment systems such as Blockchain-based credit reporting, trade finance platforms and solutions such as Bitcoin's Lightning Network and Ethereum's Plasma are streamlining the transaction process and storing every transaction in a secure distributed ledger, resulting in a faster, efficient, more secure, and less expensive payment method. Furthermore, the growing need for speedier transactions encourages consumers to implement RegTech solutions, supporting the growth of the global RegTech industry.
Growing Instance of Fraudulent Activities
The increased number of fraudulent activities in the financial and banking sector is likely to drive the expansion of the global RegTech market over the forecast period. Fraudulent activities such as money laundering have grown and therefore financial institutions require a more comprehensive regtech framework to assist risk and compliance teams in effectively managing the avalanche of ever-increasing regulatory compliance and more sophisticated breaches. For instance, according to the consumer sentinel network data reports, there has been a rise in imposter scams with the United States customers losing more than USD5.8 billion to fraud in 2021, an increase of more than 70 percent over the previous year. The possibility of fraudulent schemes, security breakdowns, and/or compliance failures is ever-present, necessitating a clear strategic vision along with exact operational procedures. To overcome the risk, regtech technologies and applications are helping to verify identities with regulatory standards such as KYC, AML, by performing other background checks and verifications, eliminating manual intervention, and making the entire process more efficient and effective. Thus, the rising number of fraudulent activities is expected to grow the regtech market globally in the forecast period.
Increase in collaboration between national regulators & financial institutions
The increasing number of regulatory changes and the rising compliance costs are making more institutions opt for technological advancements. Regulatory organizations in Asia-Pacific, the United States, and Europe are eager to work with the global fintech community. In addition, the strong inclination towards engaging the fintech community and agencies strives for a win-win situation for businesses and governments. Regulatory technology is a cost-effective and dependable technology that helps enterprises quickly adapt to the pressures of rising regulatory obligations. The growing requirement for appropriate rules has opened up opportunities and changed the environment, making data transfer safer, more sustainable, and more efficient. Additionally, since the economic crisis the huge increase in implementation of regulation throughout the financial services industry has led to a drive for operational efficiency and better cost management. Regulators are demanding more advanced governance and data management, as well as enhanced reporting and operational processes. RegTech solutions can provide greater confidence in meeting an organization's broad governance requirement for risk and compliance. Thus, the growing collaboration between financial institutions and regulatory associations is propelling the growth of Global RegTech Market in the forecast period.
Market Segmentation
The global regtech market is segmented into component, deployment mode, organization size, application, technology, end-user, region and competitive landscape. Based on component, the market is bifurcated into solutions and services. The services component is further bifurcated into professional services and managed services. Based on deployment mode, the market is segmented into on-premises and cloud. Based on organization size, the market is divided into SMEs and Large Enterprise. Based on application, the market is categorized into risk and compliance management, identity management, regulatory reporting, fraud management, regulatory intelligence. Based on technology, the market is segmented into cloud computing, blockchain, biometrics, artificial intelligence (AI), NLP & machine learning, and others. The end-user segment is further categorized into healthcare, BFSI, retail, IT & telecommunications, government & public sector, transportation & logistics, food & beverage, manufacturing, and others.
Market Players
Major market players in the global regtech market are ACTICO GmbH, REGnosys Limited, Thomson Reuters, Ascent Technologies Inc., Broadridge Financial Solutions Inc., Ayasdi AI LLC, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation (IBM), London Stock Exchange Group (LSEG), Wolters Kluwer N.V.
Report Scope
In this report, the global regtech market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
RegTech Market, By Component:
- Solutions
- Services
- Professional Services
- Managed Services
- RegTech Market, By Deployment Mode:
- On-Premises
- Cloud
- RegTech Market, By Organization Size
- SMEs
- Large Enterprise
RegTech Market, By Application:
- Risk and Compliance Management
- Identity Management
- Regulatory Reporting
- Fraud Management
- Regulatory Intelligence
RegTech Market, By Technology:
- Cloud Computing
- Blockchain
- Biometrics
- Artificial Intelligence (AI)
- NLP & Machine Learning
- Others
RegTech Market, By End-User:
- Healthcare
- BFSI
- Retail
- IT & Telecommunications
- Government & Public Sector
- Transportation & Logistics
- Food & Beverage
- Manufacturing
- Others
RegTech Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global regtech market.
Available Customizations:
Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Service Overview
2. Research Methodology
3. Impact of COVID-19 on Global RegTech Market
4. Executive Summary
5. Voice of Customers
6. Global RegTech Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Component (Solutions and Services (Professional Services and Managed Services))
- 6.2.2. By Deployment Mode (On-Premises and Cloud)
- 6.2.3. By Organization Size (SMEs, Large Enterprise)
- 6.2.4. By Application (Risk and Compliance Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence)
- 6.2.5. By Technology (Cloud Computing, Blockchain, Biometrics, Artificial Intelligence (AI), NLP & Machine Learning, Others)
- 6.2.6. By End-User (Healthcare, BFSI, Retail, IT & Telecommunications, Government & Public Sector, Transportation & Logistics, Food & Beverage, Manufacturing, Other)
- 6.2.7. By Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa (MEA))
- 6.3. By Company (2022)
- 6.4. Market Map
7. North America RegTech Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Deployment Mode
- 7.2.3. By Organization Size
- 7.2.4. By Application
- 7.2.5. By Technology
- 7.2.6. By End-User
- 7.2.7. By Country
- 7.3. North America: Country Analysis
- 7.3.1. United States RegTech Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.1.1. By Value
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Component
- 7.3.1.2.2. By Deployment Mode
- 7.3.1.2.3. By Organization Size
- 7.3.1.2.4. By Application
- 7.3.1.2.5. By Technology
- 7.3.1.2.6. By End-User
- 7.3.1.1. Market Size & Forecast
- 7.3.2. Canada RegTech Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.1.1. By Value
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Component
- 7.3.2.2.2. By Deployment Mode
- 7.3.2.2.3. By Organization Size
- 7.3.2.2.4. By Application
- 7.3.2.2.5. By Technology
- 7.3.2.2.6. By End-User
- 7.3.2.1. Market Size & Forecast
- 7.3.3. Mexico RegTech Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.1.1. By Value
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Component
- 7.3.3.2.2. By Deployment Mode
- 7.3.3.2.3. By Organization Size
- 7.3.3.2.4. By Application
- 7.3.3.2.5. By Technology
- 7.3.3.2.6. By End-User
- 7.3.3.1. Market Size & Forecast
- 7.3.1. United States RegTech Market Outlook
8. Asia-Pacific RegTech Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Deployment Mode
- 8.2.3. By Organization Size
- 8.2.4. By Application
- 8.2.5. By Technology
- 8.2.6. By End-User
- 8.2.7. By Country
- 8.3. Asia-Pacific: Country Analysis
- 8.3.1. China RegTech Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.1.1. By Value
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Component
- 8.3.1.2.2. By Deployment Mode
- 8.3.1.2.3. By Organization Size
- 8.3.1.2.4. By Application
- 8.3.1.2.5. By Technology
- 8.3.1.2.6. By End-User
- 8.3.1.1. Market Size & Forecast
- 8.3.2. Japan RegTech Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.1.1. By Value
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Component
- 8.3.2.2.2. By Deployment Mode
- 8.3.2.2.3. By Organization Size
- 8.3.2.2.4. By Application
- 8.3.2.2.5. By Technology
- 8.3.2.2.6. By End-User
- 8.3.2.1. Market Size & Forecast
- 8.3.3. South Korea RegTech Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.1.1. By Value
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Component
- 8.3.3.2.2. By Deployment Mode
- 8.3.3.2.3. By Organization Size
- 8.3.3.2.4. By Application
- 8.3.3.2.5. By Technology
- 8.3.3.2.6. By End-User
- 8.3.3.1. Market Size & Forecast
- 8.3.4. India RegTech Market Outlook
- 8.3.4.1. Market Size & Forecast
- 8.3.4.1.1. By Value
- 8.3.4.2. Market Share & Forecast
- 8.3.4.2.1. By Component
- 8.3.4.2.2. By Deployment Mode
- 8.3.4.2.3. By Organization Size
- 8.3.4.2.4. By Application
- 8.3.4.2.5. By Technology
- 8.3.4.2.6. By End-User
- 8.3.4.1. Market Size & Forecast
- 8.3.5. Australia RegTech Market Outlook
- 8.3.5.1. Market Size & Forecast
- 8.3.5.1.1. By Value
- 8.3.5.2. Market Share & Forecast
- 8.3.5.2.1. By Component
- 8.3.5.2.2. By Deployment Mode
- 8.3.5.2.3. By Organization Size
- 8.3.5.2.4. By Application
- 8.3.5.2.5. By Technology
- 8.3.5.2.6. By End-User
- 8.3.5.1. Market Size & Forecast
- 8.3.1. China RegTech Market Outlook
9. Europe RegTech Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Component
- 9.1.2. By Deployment Mode
- 9.1.3. By Organization Size
- 9.1.4. By Application
- 9.1.5. By Technology
- 9.1.6. By End-User
- 9.1.7. By Country
- 9.2. Europe: Country Analysis
- 9.2.1. United Kingdom RegTech Market Outlook
- 9.2.1.1. Market Size & Forecast
- 9.2.1.1.1. By Value
- 9.2.1.2. Market Share & Forecast
- 9.2.1.2.1. By Component
- 9.2.1.2.2. By Deployment Mode
- 9.2.1.2.3. By Organization Size
- 9.2.1.2.4. By Application
- 9.2.1.2.5. By Technology
- 9.2.1.2.6. By End-User
- 9.2.1.1. Market Size & Forecast
- 9.2.2. Germany RegTech Market Outlook
- 9.2.2.1. Market Size & Forecast
- 9.2.2.1.1. By Value
- 9.2.2.2. Market Share & Forecast
- 9.2.2.2.1. By Component
- 9.2.2.2.2. By Deployment Mode
- 9.2.2.2.3. By Organization Size
- 9.2.2.2.4. By Application
- 9.2.2.2.5. By Technology
- 9.2.2.2.6. By End-User
- 9.2.2.1. Market Size & Forecast
- 9.2.3. France RegTech Market Outlook
- 9.2.3.1. Market Size & Forecast
- 9.2.3.1.1. By Value
- 9.2.3.2. Market Share & Forecast
- 9.2.3.2.1. By Component
- 9.2.3.2.2. By Deployment Mode
- 9.2.3.2.3. By Organization Size
- 9.2.3.2.4. By Application
- 9.2.3.2.5. By Technology
- 9.2.3.2.6. By End-User
- 9.2.3.1. Market Size & Forecast
- 9.2.4. Italy RegTech Market Outlook
- 9.2.4.1. Market Size & Forecast
- 9.2.4.1.1. By Value
- 9.2.4.2. Market Share & Forecast
- 9.2.4.2.1. By Component
- 9.2.4.2.2. By Deployment Mode
- 9.2.4.2.3. By Organization Size
- 9.2.4.2.4. By Application
- 9.2.4.2.5. By Technology
- 9.2.4.2.6. By End-User
- 9.2.4.1. Market Size & Forecast
- 9.2.5. Spain RegTech Market Outlook
- 9.2.5.1. Market Size & Forecast
- 9.2.5.1.1. By Value
- 9.2.5.2. Market Share & Forecast
- 9.2.5.2.1. By Component
- 9.2.5.2.2. By Deployment Mode
- 9.2.5.2.3. By Organization Size
- 9.2.5.2.4. By Application
- 9.2.5.2.5. By Technology
- 9.2.5.2.6. By End-User
- 9.2.5.1. Market Size & Forecast
- 9.2.1. United Kingdom RegTech Market Outlook
10. South America RegTech Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1. By Component
- 10.2.2. By Deployment Mode
- 10.2.3. By Organization Size
- 10.2.4. By Application
- 10.2.5. By Technology
- 10.2.6. By End-User
- 10.2.7. By Country
- 10.3. South America: Country Analysis
- 10.3.1. Brazil RegTech Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.1.1. By Value
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Component
- 10.3.1.2.2. By Deployment Mode
- 10.3.1.2.3. By Organization Size
- 10.3.1.2.4. By Application
- 10.3.1.2.5. By Technology
- 10.3.1.2.6. By End-User
- 10.3.1.1. Market Size & Forecast
- 10.3.2. Argentina RegTech Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.1.1. By Value
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Component
- 10.3.2.2.2. By Deployment Mode
- 10.3.2.2.3. By Organization Size
- 10.3.2.2.4. By Application
- 10.3.2.2.5. By Technology
- 10.3.2.2.6. By End-User
- 10.3.2.1. Market Size & Forecast
- 10.3.3. Colombia RegTech Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.1.1. By Value
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Component
- 10.3.3.2.2. By Deployment Mode
- 10.3.3.2.3. By Organization Size
- 10.3.3.2.4. By Application
- 10.3.3.2.5. By Technology
- 10.3.3.2.6. By End-User
- 10.3.3.1. Market Size & Forecast
- 10.3.1. Brazil RegTech Market Outlook
11. Middle East & Africa RegTech Market Outlook
- 11.1. Market Size & Forecast
- 11.1.1. By Value
- 11.2. Market Share & Forecast
- 11.2.1. By Component
- 11.2.2. By Deployment Mode
- 11.2.3. By Organization Size
- 11.2.4. By Application
- 11.2.5. By Technology
- 11.2.6. By End-User
- 11.2.7. By Country
- 11.3. Middle East & Africa: Country Analysis
- 11.3.1. UAE RegTech Market Outlook
- 11.3.1.1. Market Size & Forecast
- 11.3.1.1.1. By Value
- 11.3.1.2. Market Share & Forecast
- 11.3.1.2.1. By Component
- 11.3.1.2.2. By Deployment Mode
- 11.3.1.2.3. By Organization Size
- 11.3.1.2.4. By Application
- 11.3.1.2.5. By Technology
- 11.3.1.2.6. By End-User
- 11.3.1.1. Market Size & Forecast
- 11.3.2. Saudi Arabia RegTech Market Outlook
- 11.3.2.1. Market Size & Forecast
- 11.3.2.1.1. By Value
- 11.3.2.2. Market Share & Forecast
- 11.3.2.2.1. By Component
- 11.3.2.2.2. By Deployment Mode
- 11.3.2.2.3. By Organization Size
- 11.3.2.2.4. By Application
- 11.3.2.2.5. By Technology
- 11.3.2.2.6. By End-User
- 11.3.2.1. Market Size & Forecast
- 11.3.3. South Africa RegTech Market Outlook
- 11.3.3.1. Market Size & Forecast
- 11.3.3.1.1. By Value
- 11.3.3.2. Market Share & Forecast
- 11.3.3.2.1. By Component
- 11.3.3.2.2. By Deployment Mode
- 11.3.3.2.3. By Organization Size
- 11.3.3.2.4. By Application
- 11.3.3.2.5. By Technology
- 11.3.3.2.6. By End-User
- 11.3.3.1. Market Size & Forecast
- 11.3.1. UAE RegTech Market Outlook
12. Market Dynamics
- 12.1. Drivers
- 12.1.1. Rising Need for Faster Transactions
- 12.1.2. Growing Instance of Fraudulent activities
- 12.1.3. Increase in collaboration between national regulators & financial institutions
- 12.2. Challenges
- 12.2.1. Stringent Environmental Regulations Against Few Raw Materials
- 12.2.2. Threat to Cybersecurity and Consumer Data Privacy
13. Market Trends & Developments
- 13.1. Surge in demand for Automated Regulatory Compliance Processes
- 13.2. Increasing Internet Penetration
- 13.3. Increasing Government Initiatives
- 13.4. Changing Business needs due to Covid-19 Driving Adoption
- 13.5. Rising adoption of Cloud Computing services
14. Company Profiles
- 14.1. ACTICO GmbH
- 14.1.1. Business Overview
- 14.1.2. Key Revenue and Financials
- 14.1.3. Recent Developments
- 14.1.4. Key Personnel
- 14.1.5. Key Product/Services
- 14.2. REGnosys Limited
- 14.2.1. Business Overview
- 14.2.2. Key Revenue and Financials
- 14.2.3. Recent Developments
- 14.2.4. Key Personnel
- 14.2.5. Key Product/Services
- 14.3. Thomson Reuters
- 14.3.1. Business Overview
- 14.3.2. Key Revenue and Financials
- 14.3.3. Recent Developments
- 14.3.4. Key Personnel
- 14.3.5. Key Product/Services
- 14.4. Ascent Technologies Inc.
- 14.4.1. Business Overview
- 14.4.2. Key Revenue and Financials
- 14.4.3. Recent Developments
- 14.4.4. Key Personnel
- 14.4.5. Key Product/Services
- 14.5. Broadridge Financial Solutions Inc.
- 14.5.1. Business Overview
- 14.5.2. Key Revenue and Financials
- 14.5.3. Recent Developments
- 14.5.4. Key Personnel
- 14.5.5. Key Product/Services
- 14.6. Ayasdi AI LLC
- 14.6.1. Business Overview
- 14.6.2. Key Revenue and Financials
- 14.6.3. Recent Developments
- 14.6.4. Key Personnel
- 14.6.5. Key Product/Services
- 14.7. Deloitte Touche Tohmatsu Limited
- 14.7.1. Business Overview
- 14.7.2. Key Revenue and Financials
- 14.7.3. Recent Developments
- 14.7.4. Key Personnel
- 14.7.5. Key Product/Services
- 14.8. International Business Machines Corporation (IBM)
- 14.8.1. Business Overview
- 14.8.2. Key Revenue and Financials
- 14.8.3. Recent Developments
- 14.8.4. Key Personnel
- 14.8.5. Key Product/Services
- 14.9. London Stock Exchange Group (LSEG)
- 14.9.1. Business Overview
- 14.9.2. Key Revenue and Financials
- 14.9.3. Recent Developments
- 14.9.4. Key Personnel
- 14.9.5. Key Product/Services
- 14.10. Wolters Kluwer N.V.
- 14.10.1. Business Overview
- 14.10.2. Key Revenue and Financials
- 14.10.3. Recent Developments
- 14.10.4. Key Personnel
- 14.10.5. Key Product/Services
15. Strategic Recommendations
16. About Us & Disclaimer
(Note: The companies list can be customized based on the client requirements.)
