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Global RegTech Market Projected to Reach USD 33.1 Billion by 2026

17-Jun-2020 | Facts and Factors

Findings from Facts and Factors report "RegTech Market by Application (Compliance Management, Regulatory Intelligence, Risk Management, Identity Management, Fraud Management, and Regulatory Reporting), by Organization Size (Large enterprise and SME’s),- Global Industry Perspective, Comprehensive Analysis and Forecast, 2020-2026" states that the global RegTech market in 2019 was approximately USD 5.31 billion. The market is expected to grow at a CAGR of 21.27% and is anticipated to reach around USD 33.1 billion by 2026.

RegTech or regulatory technology is known as the subset of financial technology which focuses on the technologies that may enable the provision of regulatory requirements more effectively and efficiently than the firm’s existing capabilities. RegTech solutions use different technology-enabled processes, such as machine learning, cloud computing blockchain. The various benefits of using RegTech are it reduces compliance cost thereby simplifying and standardizing compliance process. It provides sustainable and scalable solutions for the business to grow. RegTech solution plays a major role in banking and financial services like KYC, Transaction Monitoring, Customer Credit Scoring, AML screening, trade data tracking, fraud prevention, compliance risk analysis and many more. Some of the major applications where RegTech is used are compliance management, identity management reporting, and risk management.

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The increase in the cost of compliance is one of the major factors driving the global RegTech market in the analysis period. The dramatic increase in the financial services regulations after the financial crisis for more than 60 percent in retail and corporate banks has increased the need for RegTech solutions due to its low cost and higher quality.    Further, increasing trend for regulatory sandbox have provided RegTech companies to innovate new and improved regulatory solution for the financial industries which will help in the growth of the global RegTech market in coming years. Furthermore, the low entry barriers for SaaS based solutions are also one of the major factors responsible for the growth of the market in the analysis period. RegTech companies use cloud technology through software as a service to help the organizations to comply with regulations more efficiently and less expensively. The rapid growth in the applications based on artificial intelligence (AI), Machine Learning, and Blockchain will offer new opportunities for the RegTech companies in the forecast period.

Global RegTech market is categorized based on application, organization size and region. Based on application, the market is majorly divided into compliance management, regulatory intelligence, risk management, identity management, fraud management, and regulatory reporting. The regulatory intelligence application segment of the global RegTech market is expected to grow with the highest CAGR due to functionality it provides to financial institutions to easily identify and interpret regulatory changes. Further, Large enterprise and SME’s is the organization size segment of the global RegTech market. Large enterprise segment is predicted to hold the largest market share in the global RegTech market in the forecast period.

Based on geography the market is divided into Asia Pacific, North America, Europe, MEA, and Latin America. In terms of revenue, North America was the leading player with the highest market share in 2019 and is expected to continue its supremacy in the forecast period. The existence of the leading player in the region is the major factor driving the global RegTech market in the analysis period. Europe is the second leading region in the global RegTech market and is expected to hold its position in the forecast period. The growth in this region is due to the high funding raised by the FinTech companies significantly. Asia Pacific is projected to grow with the highest CAGR in the forecast period. Latin America and Middle East and Africa are expected to have lucrative market for the RegTech solutions.

The prominent players contributing in the global RegTech market are IBM, Thomson Reuters, Abside Smart Financial Technologies, Accuity, Infrasoft Technologies, MetricStream, Broadridge, Compendor, Compliance Solutions Strategies (CSS), ACTICO, Deloitte, EastNets, Fenergo, Jumio, London Stock Exchange Group (LSEG), NICE Actimize, RIMES Technologies, SAI Global, PwC, Sysnet Global Solutions, Trulioo, and Wolters Kluwer among others.

The report segments of the global RegTech market as follows:

RegTech Market: Application Segment Analysis

  • Compliance Management
  • Regulatory Intelligence
  • Risk Management
  • Identity Management
  • Fraud Management
  • Regulatory Reporting

RegTech Market: Organization Size Segment Analysis

  • Large enterprise
  • SME’s

RegTech Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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