Technavio's RegTech Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

Accuity Inc., ACTICO GmbH, Broadridge Financial Solutions Inc., Deloitte Touche Tohmatsu Ltd., International Business Machines Corp., NICE Ltd., RIMES Technologies Corp., SAS Institute Inc., Thomson Reuters Corp., Trulioo Information Services Inc. among others are some of the few key vendors competing to maintain their market position in the RegTech market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the RegTech industry. For instance, In March 2021, Broadridge Financial Solutions Inc announced the expansion of its European fund regulatory reporting solution through the incorporation of transaction cost calculation services from financial products, trading, and market-making services provider Virtu Financial. 

View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

• Segmentation by End-User: 
• Large enterprises: 
• During the projected period, the large enterprise segment's share of the RegTech market will grow significantly. The growing demand for complicated regulatory reporting and risk management, identity management and control, compliance management, and transaction monitoring requirements are driving large organizations to adopt RegTech solutions. Large enterprises are increasingly adopting RegTech solutions since it has shown to be more profitable and efficient than human management of complicated regulatory and compliance processes.
• Medium-sized Enterprises
• Small-sized Enterprises

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Regional Market Outlook

North America will contribute 32% of the market growth during the forecast period. The growth of this region can be attributed to the extensive presence of some of the large financial institutions over the forecast period.

Apart from regions, if we look at the country-wise market growth, North America, Europe, APAC, South America, and MEA will contribute to the highest market growth.

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Latest Trends, Driving the Global RegTech Market

• Market Driver:
• Need for identifying financial crime:

Due to the large volume of data that financial institutions deal with daily, manually examining the data to detect potential fraud will take a long time. RegTech is increasingly being employed for real-time fraud detection and prevention skills to tackle these issues. It enables financial institutions to detect financial crimes in a cost-effective and automated manner. RegTech analyses financial transactions using analytics and cognitive capabilities, and delivers early alerts for any potential fraud or illegal transaction.

Furthermore, RegTech provides end-users with intelligent process automation to boost the speed of routine activities while minimizing human intervention to lower the danger of human error, resulting in a fast, secure, and watchful financial value chain free of financial crime risk.

• Market Trend:
• Increasing need of high capacity solutions:

The widespread use of AI across a variety of industries and verticals has improved the detection of patterns and similarities even among seemingly unrelated collections of data, which is critical for extracting new insights from these disparate data sets. Furthermore, AI can process numerous data sets, including behavior patterns in heterogeneous data sources like social media data and stock market values. This can progressively provide fresh insights from previously unnoticed relationships between data. End-users could benefit from the integration of AI and RegTech in terms of complicated pattern matching across data sets and identification of data abnormalities, such as pointing to possible fraud instances.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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