RegTech set of technologies enhances regulatory processes by using cutting-edge technologies such as artificial intelligence, cloud computing, machine learning, and big data. In addition, RegTech consists of a group of companies that helps businesses comply with main functions such as reporting, compliance, regulatory, and monitoring. Furthermore, RegTech helps in minimizing risk of human error by automating processes and ensuring companies with more effectiveness in reaching regulatory compliance.
Rise in adoption of advance technologies such as cloud computing, application programming interfaces (APIs), data analytics, artificial intelligence, robotic process automation (RPA), chatbots, and machine learning, which improves the quality of reported data across various regimes & jurisdictions boosts the market growth. In addition, increase in collaboration between national regulators & financial institution aiming at a win-win for business & governments are major factors that drive the market growth. However, concerns over consumer data privacy and conflicting regulations across different jurisdictions globally are some of the factors that hamper the market growth.
On the contrary, as several regulatory bodies are implementing & investing in RegTech solutions for their business processes to expand product lines in the market. In addition, increase in General Data Protection Regulation (GDPR) guidelines has become a mandatory application for consumers' personal data. As a result, RegTech solution providers take GDPR into account for certain personal data-related activities, which is expected to boost the market growth in the coming years.
The RegTech market is segmented on the basis of component, deployment type, organization size, application, end user, and region. Based on component, the market is bifurcated into solution and services. In terms of deployment type, it is divided into on-premises and cloud. On the basis of organization size, it is segmented into large enterprises and small & medium enterprises (SMEs). By application, it is segmented into anti-money laundering (AML) & fraud management, regulatory intelligence, risk & compliance management, regulatory reporting, and identity management. Based on end user, it is segmented into banks, insurance companies, fintech firms, IT & telecom, public sector, energy & utilities, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyses the profiles of key players operating in the market include ACTICO GmbH, Acuant, Inc., Ascent, Broadridge Financial Solutions, Inc., ComplyAdvantage, International Business Machines (IBM), MetricStream Inc., NICE Ltd., Thomson Reuters, and Wolters Kluwer N.V. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key benefits for stakeholders
- The study provides in-depth analysis of the global RegTech market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the market size are provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global RegTech market from 2020 to 2027 is provided to determine the market potential.
Key market segments
By Deployment type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- Anti-money laundering (AML) and Fraud Management
- Regulatory Intelligence
- Risk and Compliance Management
- Regulatory Reporting
- Identity Management
By End User
- Insurance Companies
- FinTech Firms
- IT & Telecom
- Public Sector
- Energy & Utilities
- North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
Key market players
- ACTICO GmbH
- Acuant, Inc.
- Broadridge Financial Solutions, Inc.
- International Business Machines (IBM)
- MetricStream Inc.
- NICE Ltd.
- Thomson Reuters
- Wolters Kluwer N.V.