RegTech Market Size Predicted to Touch Revenue of USD 40.83 Billion by 2030: Global Report by Polaris Market Research (PMR)

NEW YORK, Jan. 4, 2023 /PRNewswire/ -- A latest research report [115+ pages] with 360-Degree visibility, titled "RegTech Market Share, Size, Trends, Industry Analysis Report, By Deployment Type (Cloud and On-premises); By Application; By Organization Size; By Component; By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository.

"According to the recent research report, the demand of global RegTech Market size & share expected to reach to USD 40.83 Billion by 2030 from USD 7.08 billion in 2021, at a compound annual growth rate (CAGR) of 21.5% during the forecast period 2022 to 2030"

What is meant by RegTech? How Big is the RegTech Market?

• Report Overview

RegTech, also called regulatory technology, is the use of technology to manage regulatory compliance processes within financial institutes and companies. RegTech uses technologies like the cloud, open data models, AI, and ML for regulatory monitoring, reporting, and compliance. The technology is developed to prevent and manage risk to a company's compliance department. Various companies are adopting RegTech as a way to save time and money,

Client onboarding, KYC, identity management, operational risk management, regulatory reporting, and risk analytics are some of the major types of RegTech. It is commonly used in various industries, including banks and financial institutions, ecommerce, healthcare, the service sector, and among others. Growing demand for regulatory intelligence and high compliance costs is driving the RegTech market demand.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2030 Updated Report Introduction, Overview, and In-depth industry analysis
• 115+ Pages Research Report (Inclusion of Updated Research)
• Provide Chapter-wise guidance on Request
• 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

Some of the Top Market Players Are:

• ACTICO
• Ascent Technologies
• Broadridge Financial Solutions
• Deloitte Touche Tohmatsu
• London Stock Exchange
• IBM
• Jumio Corporation
• Pole Star Space
• Thomson Reuters
• REGnosys
• MindBridge
• Coryltics
• Ayasdi AI LLC.
• Chainalysis

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RegTech Market Report Highlights

• Cloud segment accounted for a significant global revenue share owing to its wide range of benefits, including lower maintenance costs, constant access to data, and smaller physical infrastructure
• Risk & compliance segment held a significant share in 2021 due to the growing need to manage complex processes and high adoption rates in developed countries such as France and Canada
• Large enterprises segment dominated the industry and is likely to retain its position over the forecast period, which is accelerated by rising prevalence of advanced compliance management solutions
• Solutions segment is likely to register fastest growth rate during the projected period owing to its increasing use in a variety of applications such as identity authentication
• North America dominated the global share because of its high inclination towards automating regulatory processes and improved management of risk & compliance solutions in countries like the United States.

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Growth Driving Factors

• Increasing government initiatives for the adoption of Regtech to flourish the market growth

An increasing number of penalties for non-compliance with some guidelines and RegTech's ability to connect businesses and regulators while taking care of consumer interests are the key factors supporting the RegTech market growth. The rise in a number of government initiatives for the adoption of Regtech by making guidelines for everyone, such as the compulsion of KYC (Know Your Customer) to keep inclusive records and manage the individuality of the customers creating the account, is accelerating the market expansion. Also, the rapid deployment of artificial intelligence by Regtech service providers is boosting the market demand.

Moreover, rising partnerships among various RegTech firms worldwide with financial institutions and regulatory organizations majorly fuel the RegTech industry growth. Rapid growth in the fintech industry in across many countries such as India and China, along with increasing pressure on payment service providers to efficiently compliance their duties, are the prominent factors anticipated to flourish the RegTech market size. In addition, a growing number of fraudulent transactions like money laundering in the banking industry, which has led to an increase the demand for RegTech framework, is predicted to augment the industry growth.

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Recent Developments

• In December 2021, MetricStream announced a partnership with HCL Technologies. With this agreement, they will provide a highly improved IT and Cyber Risk Management solution to mid-sized enterprises and corporates, allowing them to make smarter & quicker decisions, remove IT threats, and quantify risks.

Segmental Analysis

• The cloud segment held the largest market share in 2021

Based on deployment type, the cloud segment occupied a significant RegTech market share in 2021 and is expected to maintain its dominance over the forecast period. This growth can be attributed to the technology's ability to transform fixed costs into variable costs so that consumers pay according to their pattern of consumption. Further, reduced maintenance expenses, smaller physical infrastructure, and easier accessibility to data from anywhere and at any time are the key factors driving cloud-based solutions. Also, increasing initiatives by leading market service providers in order to improve and boost their new product/service launches worldwide are fueling the segment growth.

• Risk and compliance segment witnessed the highest revenue share

In terms of application, the risk and compliance segment accounted for the largest revenue share in the RegTech market owing to the rising requirement to manage complex procedures in the banking sector for enhancement of compliance management. Also, growing adoption in developed nations such as U.S., U.K., France, Germany, and Canada is fueling the segment growth. Moreover, a surge in the prevalence of assimilation of RegTech solutions into the existing technology platforms due to its benefits, such as improved operational efficiency, agility, and reduced costs, is anticipated to accelerate segment growth.

• Large enterprises segment led the market in 2021

Based on organization size, the large enterprises category captured the greatest market share in 2021 and is projected to retain its dominance throughout the forecast period. The key factors supporting the segment growth include the growing popularity of advanced compliance management solutions in large enterprises across different industry industries.

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RegTech Market: Report Scope

Geographic Overview

• North America accounted for the highest market share in the RegTech in 2021

Based on geography, RegTech market in North America held the highest revenue share and is projected to maintain its dominance over the foreseen period. This growth can be attributed to a surge in the increasing list of regulatory requirements and a rising focus on reducing the number of fraudulent activities happening in the region. Also, a strong tendency towards the automation of regulatory processes and risk & compliance management in the United States is predicted to accelerate the regional market growth.

Furthermore, Asia Pacific is expected to show significant growth with a high CAGR throughout the study period owing to the increasing demand for effective digital payment services, the rising presence of well-established fintech hotspots, and an increasing focus emphasis on virtual currencies such as cryptocurrency.

Browse the Detail Report "RegTech Market Share, Size, Trends, Industry Analysis Report, By Deployment Type (Cloud and On-premises); By Application; By Organization Size; By Component; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/regtech-market 

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By Deployment Type Outlook

• Cloud
• On-premises

By Application Outlook

• Risk & Compliance
• Identity Management
• Regulatory Reporting
• Regulatory Intelligence
• AML and Fraud Management

By Organization Size Outlook

• Large Enterprises
• SMEs

By Component Outlook

• Solution
• Services

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

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