JERSEY CITY, NJ, March 8, 2022 /PRNewswire/ — Verified Market Research recently released a report, “RegTech marketBy organization size (large enterprise, small, and midsize enterprise), by deployment type (cloud, on-premises), by application (identity management, regulatory management), and by geography. According to Verified Market Research, The Global RegTech market size was valued at $15.68 billion in 2020 and is expected to reach $87.17 billion by 2028, growing at a CAGR of 23.92% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Numbers
Global RegTech Market Overview
Key drivers of RegTech market growth include increased focus on financial regulation, increased adoption of advanced technologies, and rapid expansion of collaboration between national regulators and financial institutions. Financial supervision is increasingly data-driven, with regulators demanding data with greater depth and regularity. The type of data needed to assess compliance with most prudential rules, which is often quantitative and must be of high quality: structured, well-defined, precise and thorough.
In addition, banks have made and continue to make significant investments in the necessary data and analytics IT solutions. As a result, the demand for RegTech solutions for financial services is increasing, which propels the market forward. The increase in the number of fines imposed on large financial institutions, as well as money laundering and fraud incidents involving respected companies, are increasing the demand for RegTech solutions. Regulators keep a close eye on the entire industry. Therefore, reporting requirements and transparency are more important than ever for companies to maintain compliance.
- March 2020: MetricStream has established its presence to help the company grow faster in Australia and New Zealand (ANZ). This business development allows MetricStream to access the rapidly growing Asian market. With its Governance, Risk and Compliance (GRC) products and solutions, the company would be able to serve Asian customers.
- April 2021: IBM has announced a definitive agreement to acquire Turbonomic, a provider of application resource management (ARM) and network performance management (NPM) software based in Boston, MA. Acquisition will provide enterprises with full stack application observability and management, enabling them to ensure performance and reduce costs by using AI to optimize resources including containers, virtual machines, servers , storage, networks and databases.
The major players in the market are IBM Corporation, Wolters Kluwer AG., Deloitte, London Stock Exchange Group (LSEG), Infrasoft Technologies, Accuity, NICE Actimize, MetricStream, ACTICO, Chainalysis.
Verified Market Research has segmented the global RegTech market on the basis of organization size, deployment type, application, and geography.
- RegTech Market, by Organization Size
- Big business
- Small and medium-sized enterprises (SMEs)
- RegTech Market, by Deployment Type
- RegTech Market, By Application
- Risk and Compliance Management
- Identify management
- Regulatory management
- Anti-money laundering and fraud management
- Regulatory monitoring
- RegTech Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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