Worldwide RegTech Industry to 2026 - Adoption of New Technologies to Achieve Compliance Efficiency Presents Opportunities

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Jul 07, 2021, 06:45 ET

DUBLIN, July 7, 2021 /PRNewswire/ -- The "Global RegTech Market (2021-2026) by Component, Application, Deployment, Organization Size, Vertical, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global RegTech Market is estimated to be USD 7 Bn in 2021 and is expected to reach USD 15.8 Bn by 2026, growing at a CAGR of 17.5%.

Key factors promoting the growth of the market are the rising number of fraudulent activities such as money laundering taking place in the financial sector. This has required a need for risk and compliance management system, especially for large scale organizations. Besides, the adoption of Regulatory Technology (Reg Tech) software can also be effective in reducing compliance costs by speeding up the business processes and increasing the organization's overall efficiency.

The high cost of the software and the regulatory discrepancies across different regions are likely to hamper the growth of the market.

Market Dynamics

Drivers

The Rising Number of Fraudulent Activities
The Increasing Need for Risk and Compliance Management
The Growing Cost of Compliance
Need for Faster Transactions

Restraints

The High Cost of Software
Regulatory Divergence
Lack of Technical Knowledge about the Software Deliverable

Opportunities

Adoption of New Technologies to Achieve Compliance Efficiency
Government Initiatives for the Adoption of Reg Tech
Mandatory Application of the General Data Protection Regulation (GDPR) Guidelines
Application of Reg Tech for Non-Finance Industries

Challenges

Privacy of Consumer Data
Implementation Challenges due to Incompatible Systems

Segments Covered

By Component, the Solutions segment holds the largest market share. The demand for the Reg Tech solutions is increasing with the growing incidences of money laundering followed by non-compliance in the wake of changing regulatory scenario. These solutions can help businesses to run effectively through their Software-as-a-Service (SaaS) offerings and use of the latest technologies like cloud computing or AI, etc. These solutions also have intelligent process automation systems that can speed up routine activities while minimizing human errors.

By Application, Regulatory Intelligence holds the largest market share. Regulatory intelligence gathers publicly available regulatory information that can be used for monitoring the regulatory environment. This has helped the financial institutions manage according to the changing regulatory environment and minimize the risks related to non-compliance. Further, the application of analytics in financial institutions can help make informed decisions on regulatory grounds adding to the segmental growth.

By Deployment, the market is classified as On-premises and Cloud-based. The Cloud-based segment holds the largest market share during the forecast period. Especially, in today's data-driven world, the implementation of Reg Tech solutions is highly improved with cloud-based solutions by utilizing analytics and data surveillance. Cloud-based solutions are scalable, easy to use across users, and are cost-effective.

By Organization Size, the market can be classified as large enterprises and Small and Medium-sized Enterprises (SMEs). Amongst the two, the Large Enterprises hold the highest market share. These large enterprises, also characterized by publicly traded companies, have to abide by the changing regulatory scenario. Due to their organization size and operations, manual implementation of these procedures is not quite feasible. Thus, these organizations are assisted by various consulting vendors to provide Reg Tech services for ensuring adherence to regulatory guidelines.

By Vertical, the Banking and Capital Markets holds the largest market share as these institutions are known to operate in a regulated environment. Thus, they are highly exposed to the adoption of an ever-changing regulatory scenario. In many cases, they also face hefty fines for non-compliance measures. With the rise in strict compliance guidelines across many regions, these institutions are adopting Reg Tech software to simplify the process and reduce compliance-related costs.

By Geography, North America leads the market during the forecast period. With a robust technological infrastructure in place, the region has been an early adopter of Artificial Intelligence (AI), Machine Learning (ML), and Blockchain. Thus, they have also seen faster deployments of these technologies for reducing compliance costs. Moreover, the rising necessity for adherence to regulatory compliance has been an influential factor for the industry and market growth in this region.

Company Profiles

Some of the companies covered in this report are NICE Actimize, PwC, IBM, London Stock Exchange Group plc, BWise, Broadridge Financial Solutions Inc., Accuity, Rimes Technologies Corporation, Wolters Kluwer N.V, Compendor, Infrasoft Technologies Ltd., and Deloitte Touche Tohmatsu Limited, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global RegTech Market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using the Competitive Quadrant, the analyst's Proprietary competitive positioning tool.

Report Highlights:

A complete analysis of the market including parent industry
Important market dynamics and trends
Market segmentation
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.3 Trends

5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis

6 Global Reg Tech Market, By Component
6.1 Introduction
6.2 Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Implementation
6.3.1.3 Support and Maintenance
6.3.2 Managed Services

7 Global Reg Tech Market, By Application
7.1 Introduction
7.2 Risk and Compliance Management
7.3 Identity Management
7.4 Regulatory Reporting
7.5 Anti-money laundering (AML) and Fraud Management
7.6 Regulatory Intelligence

8 Global Reg Tech Market, By Deployment
8.1 Introduction
8.2 On-premises
8.3 Cloud-based

9 Global Reg Tech Market, By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Size Enterprises

10 Global Reg Tech Market, By Vertical
10.1 Introduction
10.2 Banking and Capital Markets
10.3 Insurance
10.4 Non- Finance

11 Global Reg Tech Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 South America
11.3.1 Brazil
11.3.2 Argentina
11.4 Europe
11.4.1 UK
11.4.2 France
11.4.3 Germany
11.4.4 Italy
11.4.5 Spain
11.4.6 Rest of Europe
11.5 Asia-Pacific
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Indonesia
11.5.5 Malaysia
11.5.6 South Korea
11.5.7 Australia
11.5.8 Russia
11.5.9 Rest of APAC
11.6 Rest of the World
11.6.1 Qatar
11.6.2 Saudi Arabia
11.6.3 South Africa
11.6.4 United Arab Emirates
11.6.5 Latin America

12 Competitive Landscape
12.1 Competitive Quadrants
12.2 Market Share Analysis
12.3 Competitive Scenario
12.3.1 Mergers & Acquisitions
12.3.2 Agreements, Collaborations, & Partnerships
12.3.3 New Product Launches & Enhancements
12.3.4 Investments & Fundings

13 Company Profiles
13.1 ACTICO GmbH
13.2 Broadridge Financial Solutions, Inc.
13.3 Deloitte Touche Tohmatsu Limited
13.4 IBM
13.5 Jumio
13.6 MetricStream Inc.
13.7 NICE
13.8 PwC
13.9 Accuity
13.10 Thomson Reuters
13.11 ComplyAdvantage
13.12 Wolters Kluwer N.V.
13.13 Abside Smart Financial Technologies
13.14 Alto Advisory
13.15 Compendor
13.16 Compliance Solutions Strategies (CSS)
13.17 Eastnets
13.18 Fenergo
13.19 Infrasoft Technologies
13.20 Jumio
13.21 VERMEG (acquired Lombard Risk)
13.22 London Stock Exchange Group (LSEG)
13.23 Nasdaq Bwise
13.24 Rimes Technologies
13.25 Sai Global
13.26 Sysnet Global Solutions
13.27 Trulioo

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/wp95ua

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