The investment giants in the RegTech market are listed as International Business Machines Corporation (US), Deloitte Touche Tohmatsu Limited (US), NICE (Israel), PWC (UK), Thomson Reuters Corporation (US), London Stock Exchange Group plc. (UK), Compliance Solutions Strategies (US), Bwise (Netherland), Infrasoft Technologies Ltd. (India), Lomabard Risk (UK), Fintellix Solutions (India), Abside Smart Financial Technologies SL (UK), NetGuardians Inc. (Switzerland), OpusDatum Ltd. (UK), Alto Advisory (Luxembourg).
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The future of the global RegTech market 2020 has come over with an expected 22.8% CAGR from the year 2018 to 2023, which is the forecast period of the market. The report has been presented by Market Research Future (MRFR) experts that depicts the market is yet to offer many lucrative opportunities for the key players to invest in making the market more profitable.
Market Segmentation: RegTech Market
As per the study conducted by MRFR’s analysts, the global RegTech market has been studied under segmental analysis, which includes application, deployment mode, organization size.
Depending on application, the global RegTech segments into regulatory intelligence, risk & compliance management, regulatory reporting, fraud management, and identity management.
Depending on deployment, the global RegTech segments into on-premises and cloud.
Depending on organization size, the global RegTech segments into small and medium-sized enterprises and large enterprises.
Top Market Drivers & Barriers
RegTech Market is considered as a tool to develop efficiency and effectiveness. It is generally a technology or software that is created to address regulatory challenges and assist companies with understanding regulatory requirements and stay compliant. In other words, RegTech services are offered with the use of cloud computing technology through Software-as-a-Service (SaaS). It is often widely used by businesses to augment transparency as well as consistency and also for standardizing regulatory processes that help deliver sound interpretations of ambiguous regulations. In this, machine learning and artificial intelligence technologies are utilized to establish wide data governance and reporting in businesses, which, in turn, replaces manual processes for reporting to automated processes. These features have been influential towards the market’s growth in the latest that would take the market towards high valuation in the forecast period.
Increased cost of compliance, lower entry barriers for Saas-based offerings, and regulatory sandbox approach are termed to be boosters of the global RegTech market growth. The applications of AI, machine learning, and blockchain are to offer new efficiencies in compliance, which is also likely to offer virtuous opportunities for market growth in the future. Furthermore, the increasing government focus on digitization of manual reporting and agreement processes is also actively set to propel RegTech adoption owing to its momentous cost saving benefits.
Some other essential factors such as financial services, banking, and insurance sector is also witnessing some light of hope from the regulatory technology. Owing to this, this situation is anticipating with highest adoption of RegTech for its advance functionality, predictive analytics, various analytics tools, and its capability to advance communication and collaboration between institutions and regulators.
On the contrary, the challenging factors of the global RegTech market are directed towards cybersecurity & privacy as well as lack of data standardization.
North America, Europe, Asia-Pacific, and rest of the world are the important regions where the global RegTech market’s study is conducted by MRFR’s experts.
The region of North America is ready with anticipation to have the largest market share during the assessment period. Here, the US occupies around 80%-85% share in the region as most of the leading stakeholders are headquartered in NA region and possess a strong customer base. The early adoption of RegTech solutions by the North American financial institutions are there to reduce compliance cost by leveraging advanced technologies as advanced economies such as the US and Canada are the most known regions. These countries are excessively developed in terms of technology.
The market size of Europe is also estimated to inflate at the highest CAGR from the years 2018 to 2023, followed by APAC region. It is the various startups that are being setup rapidly in these regions and are giving a boost to their market share.
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LIST OF TABLES
Table 1 Global Regulatory Technology (RegTech) Market, By Region, 2018–2023
Table 2 North America: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 3 Europe: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 4 Asia-Pacific: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
Table 5 Rest Of The World: Global Regulatory Technology (RegTech) Market, By Country, 2018–2023
LIST OF FIGURES
FIGURE 1 Global Regulatory Technology (RegTech) Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Regulatory Technology (RegTech) Market
FIGURE 4 Value Chain/Supply Chain Of Global Regulatory Technology (RegTech) Market
FIGURE 5 Share Of Global Regulatory Technology (RegTech) Market In 2017, By Country (In %)
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