regtech market

RegTech Market Trends, Share, Size, Growth and Forecast 2022-2027

According to the latest report by IMARC Group “RegTech Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2021-2026”, The global RegTech market reached a value of US$ 8.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.2 Billion by 2027, exhibiting at a CAGR of 22.7% during 2022-2027.

RegTech, also known as regulatory technology, refers to the management of regulatory processes through advanced technologies that streamline compliance processes and identify issues in digital payment platforms. Some commonly used RegTech solutions include transaction monitoring, regulatory reporting, risk and compliance management, and identity and control management. In recent years, RegTech has gained traction as it minimizes compliance failure risks, improves efficiency, reduces costs and speeds up business processes.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The global RegTech market is primarily driven by the expanding banking, financial services and insurance (BFSI) industry and the increasing number of fraudulent activities. Additionally, the growing need for risk and compliance management and the escalating demand for faster online transactions have accelerated product adoption. Furthermore, the integration of artificial intelligence (AI) and the Internet of Things (IoT) with connected devices to automate fraud prevention, employee surveillance and compliance data management has catalyzed the product demand. Other factors, including the emerging RegTech applications in non-finance sectors, favorable government policies and technological advancements, are also anticipated to propel the market growth.

Breakup by Component:

  • Solution
  • Services

Breakup by Deployment Mode:

  • Cloud-based
  • On-premises

Breakup by Enterprises Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by Application:

  • Anti-Money Laundering (AML) and Fraud Management
  • Regulatory Intelligence
  • Risk and Compliance Management
  • Regulatory Reporting
  • Identity Management

Breakup by End User:

  • Banks
  • Insurance Companies
  • FinTech Firms
  • IT and Telecom
  • Public Sector
  • Energy and Utilities
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • ACTICO GmbH
  • Acuant Inc.
  • Ascent
  • Broadridge Financial Solutions Inc.
  • ComplyAdvantage
  • Deloitte Touche Tohmatsu Limited
  • International Business Machines Corporation
  • Jumio
  • London Stock Exchange Group plc
  • MetricStream Inc.
  • NICE Ltd.
  • PricewaterhouseCoopers
  • Thomson Reuters Corporation
  • Trulioo
  • Wolters Kluwer N.V.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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