Uncategorized

Regulatory Technology Market 2019 – Revenue Status & Forecast Report 2023

Press Release

Regulatory Technology (RegTech) is used for regulating the processes in the financial industry, primarily for monitoring, reporting, and compiling of data, identity management, and risk management. RegTech is primarily a cloud-based or software-as-a-service (Saas)-based application, which is a transparent, consistent, and standardized way of providing higher quality and low cost solutions to the financial sector. It is attracting the interests of investors due its feature of developing innovative digital solutions. With the increasing cases of money laundering and terror funding, various new rules and regulations are being implemented by governments to maintain a safe environment, which can be made possible by using regulatory technology tools.

Request your Sample PDF Report: @ https://www.alexareports.com/report-sample/143083

The global RegTech market revenue is expected to reach $7,201.1 million by 2023, growing at a high CAGR during the forecast period. The market is witnessing growth as this technology is highly being adopted across various organizations. Due to the increasing focus on data protection rules, they have to monitor transparency in money transactions, and strictly follow compliance rules laid down by the regulatory bodies, in order to avoid high penalties. The regulatory technology primarily focuses on the digitalization of the compliance process and manual reporting to know the customer details. Financial institutions primarily work in a highly regulated environment and continuously deal with new regulations.

This RegTech market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.

The regulatory technology market is segmented based on deployment, organization size, applications, and region. On the basis of the organization size, the market has been segmented as large enterprises and SMEs. The large enterprises are dominating the market in 2018. However, SMEs are expected to grow with a high CAGR during the forecast years. The cloud migration of SMEs is primarily being easier than the large enterprises, which is further accelerating the growth of SaaS adoption. Organizations are deploying RegTech solutions owing to the increasing focus on accelerating the regulatory operations and for reducing the complexities associated with risk assessment.

Large enterprises segment is accelerating the market during the forecast period
The large enterprises segment is expected to dominate the market during the forecast period due to the adoption of regulatory programs that various publicly traded companies are required to adopt. Various service and consulting companies such as Deloitte, IBM, Thomson Reuters, and PwC primarily assist large enterprises by providing the benefits of efficiently managed business functions to effectively implement RegTech solutions as per their business requirements.

Regulatory Intelligence Application is expected to grow with a high CAGR over the coming years
Based on the application type, regulatory compliance and risk management is growing at a

higher rate, owing to the increasing compliance cost and risk factors in the banking sector. The US-based company Continuity, a provider of compliance services, customizes the services according to their clients’ needs. Their system monitors the US Federal Register and interprets the changes in rules and regulations, along with providing the appropriate solution to the client company. The client needs to schedule the compliance tasks to automate the compliance management process.

To Enquire About This Comprehensive Report, Click [email protected] https://www.alexareports.com/send-an-enquiry/143083

North America is dominating the RegTech Market
North America is expected to dominate the market during the forecast period due to the early adoption of RegTech solutions by the various financial institutions across the U.S. and Canada. This is done to reduce the associated compliance cost by leveraging advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, Big Data, and cloud computing. These countries are advanced in terms of technology and application deployments. Moreover, increasing stringent regulations are expected to foster the market growth in the North American region.

Europe is adopting RegTech on a large scale due to the mandatory rules and regulations drafted by the European governments on data protection and financial transactions. Moreover, organizations are complying with these rules and regulations due to penalties imposed by the regulators. The larger enterprises had a significant market share in 2018, while the market share of SMEs is expected to grow at a higher rate, as cloud migration is comparatively easier in SMEs as compared to larger enterprises owing to less complexities.
The global RegTech market is characterized to be the highly competitive market due to the presence of various international and regional vendors. The demand for regulatory technology is expected to grow due to the rising investments in R&D by key players, such as Algoreg, Clarus, and others. To expand the market, the majority of vendors are adopting new technologies and product launches to gain competitive advantage in the global market. Companies with a high geographical presence, irrespective of their market capitalization,
are dominating the market.

The competition in the global RegTech market is intense as various vendors are providing the technology to several end-use industries for market expansion. The competition in this market will further strengthen in the coming years with an increase in new product launches, innovations in technology, and M&A. The international players are expected to grow by acquiring regional or local players in the RegTech market. For instance, in April 2017, Wolters Kluwer, a global information services company has acquired Tagetik, a provider of corporate performance management solutions. The Wolters Kluwer has made this acquisition to make a new business unit, named Corporate Performance Solutions, for

Click Here To Get Exclusive Discount @ https://www.alexareports.com/check-discount/143083

Thank you for your time. You can also ask for individual chapter wise or section or region wise report version.

About Us:
Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data. Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data.

Contact Us:
Alexa Reports
Ph no: +1-408-844-4624 / +91- 7030626939
Email: [email protected]
Site: https://www.alexareports.com

This post was originally published on Space Market Research

Tags

Related Articles

Close