The RegTech market is estimated to grow from US$ 7.55 billion in 2022 to US$ 42.73 billion by 2030; it is projected to grow at a CAGR of 24.2% from 2022 to 2030.
Analyst Perspective:
The RegTech market has witnessed significant growth in recent years. Factors such as the rise in fraudulent activities such as money laundering and phishing have created a need for robust regulatory technology solutions across the globe, which is expected to contribute to the growth of the market. RegTech solution helps organizations detect and prevent fraudulent activities, ensuring compliance with regulations. Moreover, the rapid adoption of advanced technologies, such as big data, artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and cloud computing, has played a major role in driving the RegTech market. Additionally, increasing preference for above-mentioned advanced technologies across the globe is expected to bring new RegTech market trends in the coming years.
RegTech Market Analysis:
Regulatory Technology (RegTech) is an emerging platform that combines regulations with technology to facilitate compliance with increasingly complex regulations in various industries, including banking, finance, communication, and energy. RegTech solutions serve users by providing in-process monitoring and offering solutions to address points that do not comply with regulations. As a result, RegTech helps companies generate cost-effective and real-time solutions from their risk and compliance units.
Compliance with regulations is mandatory, and noncompliance can result in high costs for companies. Failure to comply with regulations can lead to hefty penalties, reputation damage, and even criminal charges. In the financial industry, where compliance is of utmost importance, RegTech companies have become essential. These companies specialize in providing technology-based solutions that help financial institutions comply with regulations. They offer solutions that can monitor compliance in real time, reduce operational risks, and streamline compliance processes. The RegTech market is driven by the need for efficient and less expensive ways to comply with regulations. It leverages advancements in technology, such as big data, machine learning, artificial intelligence, and blockchain, to enhance regulatory processes. The rise of digital products has also increased the occurrence of data breaches, cyber hacks, money laundering, and other fraudulent activities, further driving the RegTech market.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
RegTech Market: Strategic Insights
Market Size Value in US$ 7.55 billion in 2022 Market Size Value by US$ 42.73 billion by 2030 Growth rate CAGR of 24.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
RegTech Market: Strategic Insights
| Market Size Value in | US$ 7.55 billion in 2022 |
| Market Size Value by | US$ 42.73 billion by 2030 |
| Growth rate | CAGR of 24.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Driver:
Low Barrier of Entry for SaaS Vendors Fuels RegTech Market Growth
The RegTech market is a niche market that is experiencing significant growth due to several key factors. The use of cloud computing technology, particularly Software-as-a-Service (SaaS), has significantly lowered the entry barrier for RegTech providers. This means that more companies can enter the market and offer tailored SaaS-based products to modernize the regulatory space. The proliferation of SaaS-based solutions provides firms with exponential benefits compared to traditional software products. These benefits include real-time and instant access from anywhere, rapid onboarding, instant updates, and increased Return on Investment (ROI). RegTech solutions offer cost-effective and efficient ways to comply with regulations.
SaaS-based RegTech solutions can compute massive amounts of data and provide actionable insights and trends over any required time. This enables compliance professionals to have a bird's eye view of relevant industry-wide activities at both macro and micro levels. Additionally, SaaS technology facilitates automation, reducing the number of manual tasks, time taken for these tasks, and associated costs. Thus, a low barrier of entry for SaaS vendors fuels the RegTech market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmentation and Scope:
The report includes RegTech market forecast by component, deployment type, enterprise size, application, industry vertical, and geography from 2022 to 2030. Based on the component, the market is segmented into solution and services. Based on deployment type, the market is segmented into on-premises and cloud. Based on the enterprise size, the market is segmented into SMEs and large enterprises. By application, the market is segmented into risk and compliance management, AML and fraud management, and identity management. Based on industry verticals, the market is segmented into banks, insurance, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
In terms of enterprise size, the large enterprises segment dominated the RegTech market share in 2022. Large enterprises deal with a massive amount of data, making it challenging to manage and track information efficiently. RegTech firms provide solutions that help large enterprises streamline their regulatory compliance obligations, improving efficiency, reducing risks, and enhancing the user experience. Moreover, large enterprises face complex and ever-changing regulatory requirements. Traditional manual techniques of compliance management have become unsustainable as regulations become more intricate and frequent. Therefore, RegTech solutions offer advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to address these complexities and ensure compliance.
Regional Analysis:
The North America RegTech market is segmented into the US, Canada, and Mexico. The US dominated the North America RegTech market share in 2022. The US has a complex and stringent regulatory environment across various industries, including finance, healthcare, and data privacy. This creates a strong demand for RegTech solutions that can help organizations navigate and comply with these regulations effectively. Furthermore, the ever-evolving regulatory landscape in the US poses significant compliance challenges for businesses. RegTech solutions offer advanced technologies, such as AI, ML, and automation, to streamline compliance processes, monitor regulatory changes, and ensure adherence to the latest requirements.
With the increasing focus on data security and privacy, organizations in the US are seeking RegTech solutions that can help them protect sensitive information and ensure compliance with data protection regulations, such as the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR). Additionally, the US has a robust financial sector with stringent regulations imposed by regulatory bodies such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). RegTech solutions cater to the specific compliance needs of financial institutions, including anti-money laundering (AML) regulations, Know Your Customer (KYC) requirements and transaction monitoring. The US is known for its technological advancements and innovation. The adoption of advanced technologies, such as cloud computing, big data analytics, and AI, has facilitated the growth of the RegTech market in the North American region. These technologies enable organizations to automate compliance processes, analyze large volumes of data, and gain actionable insights.
Key Player Analysis:
The RegTech market report emphasizes the key factors driving the market and prominent players' developments. IBM Corporation; Deloitte; Thomson Reuters Corporation; PWC; Broadridge Financial Solutions, Inc.; MetricStream Inc.; Jumio; ACTICO GmbH; Acuity Group Limited; and Ascent Technologies are among the prominent players profiled in the RegTech market report. The market players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by RegTech market players. As per company press releases, below are a few recent key developments:
- In March 2023, Ascent Technologies, Inc. launched a new product called the Compliance Confidence Scorecard. This offering provides businesses with comprehensive regulatory change analysis and monitoring. It enables organizations to effectively map their solutions and services to ensure compliance with regulatory requirements. The Compliance Confidence Scorecard helps businesses stay on top of regulatory changes and streamline their compliance processes.
- In April 2023, Modyo, a provider of composable frontend platform technology, formed a strategic partnership with Jumio, a leading online identity verification and authentication platform. This collaboration is a significant development for Modyo's ecosystem of solutions. By joining forces with Jumio, Modyo aims to enhance its technology and offer accelerated end-to-end customer onboarding solutions for large organizations. The partnership with Jumio will enable Modyo to integrate and connect with Jumio's powerful identity verification and authentication capabilities. This integration will further strengthen Modyo's ability to provide streamlined and secure customer onboarding solutions, ensuring compliance with regulatory requirements and improving the overall user experience.
- In June 2023, Dassault Systèmes unveiled its integration of the Innova RegTech solution, which aims to automate compliance control processes for financial institutions. This integration enables organizations to establish partnerships with other financial entities, including BNP Paribas Securities Services, among others.
- In June 2023, Corlytics Group completed the acquisition of Clausematch Limited, a strategic move that allows them to introduce intelligent capabilities for maintaining and creating regulatory documents. This development enables the company to offer comprehensive solutions to industry clients, addressing their specific needs and challenges in managing regulatory issues effectively.
- In July 2020, Ascent, a leading provider of AI-based solutions for automating regulatory compliance processes, formed a strategic partnership with IBM. The collaboration aims to integrate their respective RegTech solutions to assist banks and financial institutions in effectively managing their evolving and expanding regulatory obligations. This integrated solution is designed to help regulated businesses stay up to date with the fast-paced regulatory landscape and reduce the risk of potential penalties and supervisory actions. By leveraging dynamic workflow capabilities and near real-time market intelligence, customers can streamline the transfer of regulatory information between teams and systems, minimizing manual effort and saving valuable time.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment Type, Enterprise Size, Application, and Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The regtech market is expected to reach US$ 42.73 Billion by 2030.
Growing occurrence of fraudulent activities are driving factors in the regtech market.
The regtech market was estimated to be valued at US$ 7.55 billion in 2022 and is projected to reach US$ 42.73 billion by 2030; it is anticipated to grow at a CAGR of 24.2% over the forecast period.
The expansion of AI, ML, blockchain applications are expected to drive the growth of the regtech market in the coming years.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
The key players holding majority shares in the regtech market include IBM Corporation, Deloitte , Thomson Reuters Corporation, PWC, and Broadridge Financial Solutions, Inc.
The solution segment led the regtech market with a significant share in 2022.
The List of Companies - RegTech Market
- IBM Corporation
- Deloitte
- Thomson Reuters Corporation
- PWC
- Broadridge Financial Solutions, Inc.
- MetricStream Inc.
- Jumio
- ACTICO GmbH
- Acuity Group Limited
- Ascent Technologies
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to RegTech Market
Apr 2024
Engineering Professional Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Consulting, Non-Consulting), Service Type (Designing and Construction, ESG, Program Management, Others), Sector (Private, Public), Vertical (Advanced Manufacturing, Infrastructure, Energy and Utilities, Environmental, Transportation, Others), Advanced Manufacturing (Data Center, Life Sciences, Electronics, and Semiconductor, EV and EV Battery, Others), Infrastructure (Buildings and Cities, Health Infrastructure, Telecommunication Infrastructure, Others), Energy And Utilities (Renewables, Energy Storage, Transmission and Distribution), Transportation (Aviation, Highways and Bridges, Ports and Maritime, Rail and Transit), Water (Water, Wastewater), and Geography (Americas, Europe, Asia Pacific and Middle East and Africa)
Apr 2024
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
Apr 2024
Inspection Software for Government Services Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Services (Implementation and Deployment, Support and Maintenance, Training, and Consulting), Deployment (Cloud and On-premises), Application (Permitting and Licensing Management, Inspection and Scheduling Management, Contract Management, and Others), and End User (Local Government, State Government, and Federal Government)
Apr 2024
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
Apr 2024
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
Apr 2024
Voice-based Payments Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), By Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others), and by Geography
Apr 2024
Private 5G Network Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services); Frequency (Sub-6 GHz and mmWave), End User (Manufacturing, Energy and Utilities, Automotive, Military and Defense, Government and Public Safety, and Others)
Apr 2024
Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)