Summary
RegTech Market Research Report by Component (Services and Solutions), Organization Size, Deployment Type, Application, Vertical, Region - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Global Forecast 2023-2030
The Global RegTech Market size was estimated at USD 9,175.83 million in 2022 and expected to reach USD 10,670.57 million in 2023, projecting growth at a CAGR of 18.12% to reach USD 34,782.73 million by 2030.
Market Statistics:
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
The pandemic profoundly impacted the business landscape as market players were compelled to adapt to new policies, regulations, and restrictions across different countries and jurisdictions. RegTech provided vital support to companies in such an uncertain condition by providing access to real-time data that helps them navigate these changing regulations. This data can help businesses identify potential risks early on to respond quickly and effectively.
Cumulative Impact of Russia-Ukraine Conflict:
The ongoing conflict between Russia and Ukraine had significant implications for both countries economies and those of other countries in the region. The situation has been exacerbated by sanctions imposed by international bodies such as NATO. In such an unpredictable environment, companies need access to up-to-date information about changes in regulatory frameworks across different jurisdictions to adjust their operations accordingly. RegTech provides valuable information so companies can avoid any legal issues related to sanctions imposed by various governments.
Cumulative Impact of High Inflation:
High inflation rates can drastically affect the economy; businesses need to be able to respond quickly and efficiently if they are going to remain profitable. RegTech provides valuable data about changing economic conditions so that companies can make informed decisions about their operations to stay competitive during high inflation. Market players can also use this data to develop strategies for managing costs and increasing revenue in response to rising prices.
Market Dynamics:
The market dynamics represent the ever-shifting landscape of the Global RegTech Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Drivers
- Rising adoption of innovative and advanced technologies to manage regulatory compliance in diverse industries such as pharmaceuticals, finance, energy
- Emerging collaboration trend between national regulators & financial institution
- Increasing need to control cyber risks from third parties
- Restraints
- Concern regarding complexity of regulations and requirement of subject expertise of core fields
- Opportunities
- Burgeoning integration of process automation, advanced analytics, and Robotic Process Automation (RPA)
- Increase in number of institutes in regulatory technology solutions field creates expansion of the market
- Challenges
- Issues pertaining to company’s data privacy and security concerns amid surging hacking and cybercrimes
Market Segmentation & Coverage:
- Based on Component, the market is studied across Services and Solutions. The Services is further studied across Managed Services and Professional Services.
- Based on Organization Size, the market is studied across Large Enterprises and Small & Medium-Sized Enterprises.
- Based on Deployment Type, the market is studied across Cloud and On-Premises.
- Based on Application, the market is studied across Anti-Money Laundring & Fraud Management, Identity Management, Regulatory Intelligence, Regulatory Reporting, and Risk & Compliance Management.
- Based on Vertical, the market is studied across Banking, Energy & Utilities, FinTech Firms, Insurance, IT & Telecom, and Public Sector.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global RegTech Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global RegTech Market, including Acuant, Inc., Apiax AG, Ascent Technologies, Inc., Ceptinel, Corlytics, International Business Machines Corporation, Jumio Corporation, JWG Group Ltd., MetricStream, Inc., NICE Ltd., Pegasystems, Inc., Pole Star Space Applications Limited, PwC, REGnosys Limited, Rimes Technologies Corporation, Synechron Limited, Tata Consultancy Services Limited, Thomson Reuters, and Wolters Kluwer N.V..
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global RegTech Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global RegTech Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global RegTech Market?
- What is the competitive strategic window for opportunities in the Global RegTech Market?
- What are the technology trends and regulatory frameworks in the Global RegTech Market?
- What is the market share of the leading vendors in the Global RegTech Market?
- What modes and strategic moves are considered suitable for entering the Global RegTech Market?
