Global RegTech Market Size to Register a considerable CAGR of 21.7% through 2028

By Ashwin Naphade  | Date: 2022-11-24

Global RegTech Market Size to Register a considerable CAGR of 21.7% through 2028

Verified citations by qualified analysts assert that global RegTech Market is estimated to witness a sturdy growth of 21.7% during 2022-2028, and subsequently amass a sustainable valuation by the end of the forecast period.

Global regtech industry is expected to witness promising signs of profitability during the forecast period, owing to increasing incidences of cybercrimes resulting in financial loss & data duplicity, rapid digitization, and expansion of the BFSI sector.

For the uninitiated, Regulatory Technology or RegTech as it is commonly known, despite being a relatively new field is increasingly adopted as an automotive technique to ease the processes of reporting and compliance. In addition, RegTech is a pivotal tool for assessing technical problems with digital payment networks, identify abnormalities, and standardize compliance procedures.

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In addition, favorable government initiatives and integration of Artificial intelligence (AI) & Internet of Things (IoT) are some of the factors that are further augmenting the prospects of business expansion during the forecast period.

Concerning type, worldwide regtech marketplace is segmented into organization size, deployment mode, application, component, and end-user. On the basis of component, the industry space is mainly categorized into services and software. Considering deployment mode, the most prominent categories are cloud and on-premise.

In terms of organization size, small & medium enterprises and large enterprises heavily utilize regulatory technologies. By application, the market is classified into risk & compliance management, identity management, regulatory reporting, anti-money laundering (AML) and fraud management, and regulatory intelligence.

In terms of end-user, the industry is categorized into BFSI, IT & telecom, energy & utilities, and others.

From a regional standpoint, Asia Pacific, Latin America, Eastern Europe & Western Europe, Middle East & Africa, and North America are the most important geographical landscapes that account for a sizable share in global regtech market remuneration.

Notable firms in the market space that are propelling the revenue margins of the industry with the aid of key strategic advancements are Thomson Reuters Corporation, Accuity Inc.,  Trulioo, MetricStream, IBM Corporation, Broadridge Financial Solutions, Inc., Ascent Technologies Inc., Wolters Kluwer NV, PricewaterhouseCoopers, and Deloitte Touche Tohmatsu Ltd. among others.

Questions and Answers: -

Question 1. What are the major factors augmenting global RegTech market growth?

Answer 1. Global regtech industry is expected to witness promising signs of profitability during the forecast period, owing to increasing incidences of cybercrimes resulting in financial loss & data duplicity, rapid digitization, and expansion of the BFSI sector.

Question 2. Which are the key regions that account for a sizable share in global RegTech market revenue?

Answer 2. North America, Asia Pacific, Eastern Europe & Western Europe, Latin America, and Middle East & Africa are the key regions that account for a sizable share in global RegTech market revenue.

Question 3. Which are the major players influencing global RegTech market trends?

Answer 3.  Thomson Reuters Corporation, Accuity Inc., Trulioo, MetricStream, IBM Corporation, Broadridge Financial Solutions, Inc., Ascent Technologies Inc., Wolters Kluwer NV, PricewaterhouseCoopers, and Deloitte Touche Tohmatsu Ltd are the major players influencing global RegTech market trends.

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About Author

Ashwin Naphade     aeresearch.net

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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