Anti-money laundering software market to grow at a CAGR of 15.01% from 2022 to 2027, Increasing need for risk management to drive growth - Technavio

NEW YORK, March 10, 2023 /PRNewswire/ -- According to Technavio, the global anti-money laundering software market size is estimated to grow by USD 2,763.04 million from 2022 to 2027. The market is estimated to grow at a CAGR of 15.01% during the forecast period. Moreover, the growth momentum will accelerate. The increasing need for risk management is driving the market growth, although factors such as the high cost of implementation may impede the market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Anti-money laundering software market – Market dynamics
Key factor driving market growth

• The increasing need for risk management is driving market growth.
• Predictive models provide deeper insight into compliance risks.
• Advanced features, such as automated investigation, help in the efficient management of risks.
• AML software helps financial analysts and investigators analyze the risk of a transaction and take appropriate action.
• Suspicious activity detection, watch list filtering, alert investigation, case management, and regulatory reporting are other features that help banks in managing risks.
• The availability of such features will increase the adoption of AML software, which will propel the growth of the market during the forecast period.

Major challenges hindering the market growth

• The high cost of implementation is challenging market growth.
• AML software deployment is expensive and time-consuming.
• It also needs additional infrastructure, complex programming, and the extra time and cost to ensure data integration and data quality.
• AML software vendors also charge additional fees for software updates, and some vendors compel end-users to purchase updates by refusing to provide technical support for old versions.
• Thus, the high cost associated with the deployment of AML software will hinder the growth of the AML software market during the forecast period.

Insights on market drivers & challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
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Anti-money laundering software market - Segmentation assessment
Segment overview
Technavio has segmented the market based on deployment (on-premises and cloud-based) and component (software and services). 

• The on-premises segment will account for a significant share of the market growth during the forecast period. In this model, the software is purchased and installed on the user's server and maintained by IT specialists. The use of on-premises AML software is increasing among large complex financial firms. Therefore, this segment is expected to grow during the forecast period.

Geography overview
Based on geography, the global anti-money laundering software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global anti-money laundering software market.

• APAC is estimated to account for 31% of the growth of the global market during the forecast period. North America is another region offering significant growth opportunities to vendors. Most financial enterprises in North America use AML solutions to comply with financial regulatory requirements. A rise in the use of mobile devices for personal and professional purposes has increased the adoption of AML software solutions, which will positively impact the market.

Insights on the market contribution of various segments, including country-wise and region-wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a sample report

Anti-money laundering software market - Leading trends influencing the market 

• The increasing demand for know-your-customer (KYC) analytics is an emerging trend in the market.
• Financial services firms across the world are adopting AML and KYC analytics, with the increasing cost of compliance, the risk of non-compliance, and challenges related to acquiring and retaining the right customers.
• Banks and financial institutions face multiple challenges in compiling the data to build strong relationships, improve returns, and reduce risk.
• KYC analytics can reduce the complex and expensive burden of compliance. 
• AML software with KYC analytics enables banks to properly document, understand, and actively manage the flow of data.
• Such factors will support the growth of the AML software market during the forecast period.

What are the key data covered in this anti-money laundering software market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the anti-money laundering software market between 2023 and 2027
• Precise estimation of the size of the anti-money laundering software market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the anti-money laundering software market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of anti-money laundering software market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global anti-money laundering software market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global anti-money laundering software market 2017 - 2021 ($ million)

• 4.2 By Deployment Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – By Deployment Segment 2017 - 2021 ($ million)

• 4.3 By Component Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – By Component Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Deployment

• 6.1 Market segments 
• Exhibit 30: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Deployment - Market share 2022-2027 (%)

• 6.2 Comparison by Deployment 
• Exhibit 32: Chart on Comparison by Deployment
• Exhibit 33: Data Table on Comparison by Deployment

• 6.3 On-premises - Market size and forecast 2022-2027
• Exhibit 34: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 6.4 Cloud-based - Market size and forecast 2022-2027
• Exhibit 38: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Deployment 
• Exhibit 42: Market opportunity by Deployment ($ million)

7 Market Segmentation by Component

• 7.1 Market segments 
• Exhibit 43: Chart on Component - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Component - Market share 2022-2027 (%)

• 7.2 Comparison by Component 
• Exhibit 45: Chart on Comparison by Component
• Exhibit 46: Data Table on Comparison by Component

• 7.3 Software - Market size and forecast 2022-2027
• Exhibit 47: Chart on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Software - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Software - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Software - Year-over-year growth 2022-2027 (%)

• 7.4 Services - Market size and forecast 2022-2027
• Exhibit 51: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Component 
• Exhibit 55: Market opportunity by Component ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027
• Exhibit 89: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 ACI Worldwide Inc. 
• Exhibit 108: ACI Worldwide Inc. - Overview
• Exhibit 109: ACI Worldwide Inc. - Business segments
• Exhibit 110: ACI Worldwide Inc. - Key offerings
• Exhibit 111: ACI Worldwide Inc. - Segment focus

• 12.4 Acuity Knowledge Partner 
• Exhibit 112: Acuity Knowledge Partner - Overview
• Exhibit 113: Acuity Knowledge Partner - Product / Service
• Exhibit 114: Acuity Knowledge Partner - Key offerings

• 12.5 Ascent 
• Exhibit 115: Ascent - Overview
• Exhibit 116: Ascent - Product / Service
• Exhibit 117: Ascent - Key offerings

• 12.6 BAE Systems Plc 
• Exhibit 118: BAE Systems Plc - Overview
• Exhibit 119: BAE Systems Plc - Business segments
• Exhibit 120: BAE Systems Plc - Key offerings
• Exhibit 121: BAE Systems Plc - Segment focus

• 12.7 EastNets 
• Exhibit 122: EastNets - Overview
• Exhibit 123: EastNets - Product / Service
• Exhibit 124: EastNets - Key offerings

• 12.8 Exiger 
• Exhibit 125: Exiger - Overview
• Exhibit 126: Exiger - Product / Service
• Exhibit 127: Exiger - Key offerings

• 12.9 Fair Isaac Corp. 
• Exhibit 128: Fair Isaac Corp. - Overview
• Exhibit 129: Fair Isaac Corp. - Business segments
• Exhibit 130: Fair Isaac Corp. - Key news
• Exhibit 131: Fair Isaac Corp. - Key offerings
• Exhibit 132: Fair Isaac Corp. - Segment focus

• 12.10 Moodys Corp. 
• Exhibit 133: Moodys Corp. - Overview
• Exhibit 134: Moodys Corp. - Business segments
• Exhibit 135: Moodys Corp. - Key offerings
• Exhibit 136: Moodys Corp. - Segment focus

• 12.11 NICE Ltd. 
• Exhibit 137: NICE Ltd. - Overview
• Exhibit 138: NICE Ltd. - Business segments
• Exhibit 139: NICE Ltd. - Key news
• Exhibit 140: NICE Ltd. - Key offerings
• Exhibit 141: NICE Ltd. - Segment focus

• 12.12 Open Text Corp. 
• Exhibit 142: Open Text Corp. - Overview
• Exhibit 143: Open Text Corp. - Product / Service
• Exhibit 144: Open Text Corp. - Key news
• Exhibit 145: Open Text Corp. - Key offerings

• 12.13 Oracle Corp. 
• Exhibit 146: Oracle Corp. - Overview
• Exhibit 147: Oracle Corp. - Business segments
• Exhibit 148: Oracle Corp. - Key news
• Exhibit 149: Oracle Corp. - Key offerings
• Exhibit 150: Oracle Corp. - Segment focus

• 12.14 SAS Institute Inc. 
• Exhibit 151: SAS Institute Inc. - Overview
• Exhibit 152: SAS Institute Inc. - Product / Service
• Exhibit 153: SAS Institute Inc. - Key news
• Exhibit 154: SAS Institute Inc. - Key offerings

• 12.15 Thomson Reuters Corp. 
• Exhibit 155: Thomson Reuters Corp. - Overview
• Exhibit 156: Thomson Reuters Corp. - Business segments
• Exhibit 157: Thomson Reuters Corp. - Key offerings
• Exhibit 158: Thomson Reuters Corp. - Segment focus

• 12.16 Truth Technologies Inc. 
• Exhibit 159: Truth Technologies Inc. - Overview
• Exhibit 160: Truth Technologies Inc. - Product / Service
• Exhibit 161: Truth Technologies Inc. - Key offerings

• 12.17 Verafin Inc. 
• Exhibit 162: Verafin Inc. - Overview
• Exhibit 163: Verafin Inc. - Product / Service
• Exhibit 164: Verafin Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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