Global RegTech Market to Reach USD 70.8 Billion by 2033, Impelled by Increasing Need to Abide by Stringent Industry Compliance Standards

November 12, 2024 | Technology & Media

According to the latest report by IMARC Group, titled "RegTech Market Report by Component (Solution, Services), Deployment Mode (Cloud-based, On-premises), Enterprises Size (Large Enterprises, Small and Medium-sized Enterprises), Application (Anti-Money Laundering (AML) and Fraud Management, Regulatory Intelligence, Risk and Compliance Management, Regulatory Reporting, Identity Management), End User (Banks, Insurance Companies, FinTech Firms, IT and Telecom, Public Sector, Energy and Utilities, and Others), and Region 2025-2033," the global RegTech market reached a value of USD 15.8 Billion in 2024. Regulatory technology (RegTech) is a software application that is generally used by multiple businesses to manage regulatory compliance. It involves the deployment of technologically advanced solutions to enhance the in-house regulatory and compliance processes of an enterprise in an effective manner. It offers numerous benefits, such as detecting market abuse and non-compliant trades, handling personal trading programs and other employee activities, managing third-party cyber risk, streamlining marketing review workflows, tracking and recording compliance activities and tasks, and centralizing and submitting regulatory filings.

Global RegTech Market Trends:

The global market is primarily driven by the rising need for businesses to abide by stringent industry compliance standards. This can be attributed to the changing country regulations and government policies. Besides this, there has been a growing need to improve the quality of reported data across various regimes and jurisdictions, thereby propelling the demand for RegTech on the global level. Along with this, an enhanced focus on improving strategies and maintaining transparency in financial regulations is contributing to the growth of the market. This has encouraged numerous businesses to invest heavily in the deployment of RegTech, which is creating a positive market outlook. In line with this, continual technological advancements and the integration of the internet of things (IoT) and artificial intelligence (AI) with RegTech are impacting the market growth favorably. Other factors, including rapid digitization, intensive business competition, the rising implementation of favorable government policies and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of USD 70.8 Billion by 2033, exhibiting a CAGR of 18% during 2025-2033.

Market Summary:

On the basis of the component, the market has been bifurcated into solutions and services. Currently, solutions represent the dominating market segment.
Based on the deployment mode, the market has been classified into cloud-based and on-premises. Presently, the on-premises mode exhibits a clear dominance in the market.
On the basis of the enterprise size, the market has been segmented into large and small and medium-sized enterprises, wherein large enterprises hold the leading position in the market.
Based on the application, the market has been segregated into anti-money laundering (AML) and fraud management, regulatory intelligence, risk and compliance management, regulatory reporting and identity management. Risk and compliance management currently represent the largest application segment.
On the basis of the end-user, the market has been categorized into banks, insurance companies, fintech firms, IT and telecom, public sector, energy and utilities and others. Banks presently account for the largest end-user segment.
Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Among these, North America holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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 and Wolters Kluwer N.V.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Deployment Mode, Enterprises Size, Application, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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 and Wolters Kluwer N.V.
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Global RegTech Market to Reach USD 70.8 Billion by 2033, Impelled by Increasing Need to Abide by Stringent Industry Compliance Standards

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