RegTech Market Insights: A Comprehensive Analysis of Key Industry Vendors, 2022–2032

According to a recent Future Market Insights study, the RegTech Market’s revenues were assessed at US$ 8.2 Bn in 2021 and are projected to increase at a CAGR of 16.2% from 2022 to 2032. The market is anticipated to be worth $45.3 billion by the end of 2032. Between 2015 and 2021, market revenue from cloud-deployed RegTech increased at a CAGR of 22.6%.

Attributes Details
Global RegTech Market CAGR (2022-2032) 16.2%
Global RegTech Market Size (2022) US$ 10.1 Bn
Global RegTech Market Size (2032) US$ 45.3 Bn
North America RegTech Market Size (2022) US$ 4 Bn
U.S. RegTech Market CAGR (2022-2032) 15.9%
Key Companies Covered
  • IBM
  • MetricStream Inc.
  • Nice Ltd.
  • Thomson Reuters
  • Wolters Kluwer N.V.
  • Actico Gmbh
  • Acuant, Inc.
  • Ascent
  • Broadridge Financial Solutions, Inc.
  • ComplyAdvantage
  • Deloitte Touche Tohmatsu Limited
  • FundApps

The epidemic has caused many problems for businesses around the world, but it has also opened up a new digital market opportunity for the RegTech sector. Reports of suspicious activity related to money laundering are at an all-time high in several nations, including Germany and Switzerland. A record-breaking 573,085 suspicious activity reports (SARs) were received and handled by the UKFIU in 2019–20. (a 20 percent increase on the previous period). Organizations involved in financial technology (fintech) experienced the fastest growth in SARs. In 2019–20, they submitted 83,609 SARs, an increase of 263.94 percent over the previous year (22,973). 64 percent of the whole increase in SARs was attributed to fintech.

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According to Muinmos CEO Remonda Kirketerp-Mller, prior to the crisis, RegTech was already a rapidly developing sector, and the pandemic has undoubtedly boosted its growth. The pandemic’s increase in online financial activities, combined with the need for robust, remote solutions for compliance officials working from home, generated an unprecedented demand for RegTech solutions.

The new environment created by the pandemic has tested operational workflows of all companies across multiple verticals. Many businesses realized that their procedures are not as impermeable and automated as they believed. The realization imparted a sense of strong necessity to automate and digitize as many regulatory procedures and workflows as feasible.

In other words, it increased the demand for RegTech solutions. The automation of regulatory duties makes them dependable support of the business, and there is no going back. As a result, the pandemic aided in raising the prior status quo to a higher level, which now serves as the foundation for further automatization and digitization in the regulatory environment.

Key Takeaways from the Market Study

  • Global RegTech Market is expected to reach a market size of US$ 10.1 Bn by 2022.
  • The Cloud deployment segment is expected to account for the highest CAGR of 15.8% during the forecast period.
  • United States is projected to remain the most dominant market with absolute dollar growth opportunity of US$ 12 Bn during 2022 – 2032.
  • The market in Japan is set to experience the highest CAGR of 14.6% during the 2022-2032 forecast period.

Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the RegTech Market are focused on R&D to produce innovative technological solutions.

• In April 2022, GBG formed separate Americas and Global Product units to consolidate its recent biometrics acquisitions. According to the release, the merger makes GBG the Americas’ largest pure-play digital ID verification and fraud protection technology supplier. GBG also acquired Cloudcheck, a selfie biometrics business located in New Zealand, earlier this year. According to the release, the merger of Acuant and IDology establishes a network that already has 450 million digital identities, which can aid in the battle against synthetic identity theft.

• In April 2022, ComplyAdvantage, a worldwide data technology business that increases the identification of financial crime, has released a new Anti-Money Laundering Essentials Guide for Startups. The new guide was created in collaboration with ComplyLaunch, a program that gives qualifying firms free access to ComplayAdvantage’s anti-money laundering and KYC solutions, as well as other resources.

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Market Segments Covered in RegTech Market Analysis

By Component:

  • Solution
  • Services

By Application:

  • Anti-Money Laundering (AML) & Fraud Management
  • Regulatory Intelligence
  • Risk and Compliance Management
  • Regulatory Reporting
  • Identity Management

By Deployment Type:

  • Cloud
  • On-Premises

By End-User:

  • RegTech in Banking
  • RegTech in Insurance Companies
  • RegTech in FinTech Firms
  • RegTech in IT & Telecom
  • RegTech in Public Sector
  • RegTech in Energy & Utilities
  • RegTech in Other End Users

By Enterprise Size:

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

By Region:

  • North America Regtech Market
  • Europe Regtech Market
  • Asia Pacific Regtech Market
  • Middle East and Africa Regtech Market
  • Latin America Regtech Market

About FMI                     

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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