RegTech Market

RegTech Market by Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2023

Report Code: TC 6790 Dec, 2018, by marketsandmarkets.com

[180 Pages Report] The RegTech market size is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5%. The major drivers for the growth of the RegTech market are the increased cost of compliance, adoption of regulatory sandbox approach, and low entry barriers for Software-as-a-Service (SaaS)-based offerings.

RegTech Market

Regulatory Intelligence Application is expected to grow at the highest CAGR during the forecast period.

The regulatory intelligence application is expected to grow at the highest CAGR during the forecast period, owing to the much-needed functionality of identifying and interpreting regulatory changes which enables financial institutions to easily manage the changing regulatory environment and minimize the risk of non-compliance. Additionally, the analytics provide financial institutions with insights which can lead to better informed decisions regarding regulatory adherence.

Large enterprises segment is expected to hold the largest market share during the forecast period.

The large enterprises segment is expected to hold the largest market share, as most publicly traded companies are compelled to adopt regulatory programs. Additionally, as rules and regulations keep altering as per industry and region, keeping a check on all the processes manually does not remain feasible, which further emphasizes on the importance of RegTech solutions and services. Service and consulting vendors such as Deloitte, IBM, PwC, and Thomson Reuters assist large enterprises to realize benefits of efficiently managing their business functions in accordance to the compliance mandates by enabling them to effectively implement RegTech solutions as per their business requirements.

RegTech Market

North America is expected to account for the largest market size during the forecast period.

As per the geographic analysis, North America is expected to account for the largest market share during the forecast period. This is due to the early adoption of RegTech solutions by the North American financial institutions to reduce compliance cost by leveraging advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, big data, and cloud computing. North America constitutes of developed economies, such as the US and Canada. These countries are significantly advanced in terms of technology and its application deployments. Moreover, stringent regulations and the need to comply with them are expected to drive the market growth in North America.

Key Market Players in RegTech Market

The major factor expected to hinder the market growth is the regulatory divergence, which is restricting the deployment of a standard RegTech solution across any jurisdiction. Key market players profiled in this report include Abside Smart Financial Technologies (Spain), Accuity (US), ACTICO (Germany), Alto Advisory (Luxembourg), Broadridge (US), Compendor (Germany), Compliance Solutions Strategies (CSS) (US), Deloitte (US), EastNets (UAE), Fenergo (Ireland), IBM (US), Infrasoft Technologies (India), Jumio (US), Lombard Risk (UK), London Stock Exchange Group (LSEG) (UK), MetricStream (US), Nasdaq BWise (Netherlands), NICE Actimize (US), PwC (UK), RIMES Technologies (US), SAI Global (Australia), Sysnet Global Solutions (Ireland), Thomson Reuters (Canada), Trulioo (Canada), and Wolters Kluwer (Netherlands). These players offer various RegTech solutions to cater to the demands and needs of the market. The major growth strategies adopted by these players are partnerships, collaborations and agreements, and new product launches/product enhancements.

Recent Developments in RegTech Market

  1. In October 2018, Thomson Reuters signed a definitive agreement to acquire Integration Point, an international leader in Global Trade Management (GTM) operations.
  2. In June 2017, IBM developed a new Watson-powered RegTech software to help financial services firms manage their growing compliance responsibilities. The new software is developed to help advisors and financial professionals better understand their regulatory requirements, identify potential financial crimes, and manage financial risks.
  3. In April 2017, Wolters Kluwer acquired Tagetik, a provider of corporate performance management solutions. The acquisition was done to create a new business unit named Corporate Performance Solutions.

Key questions addressed by the report

  • What are the opportunities in the RegTech market?
  • What is the competitive landscape in the market?
  • What are the regulations that will impact the  market?
  • How has RegTech evolved from the tradition risk and compliance solutions?
  • What are the dynamics of the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Breakdown of Primaries
           2.1.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 RegTech Market: Research Assumptions
    2.4 Limitations

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 27)
    4.1 Attractive Opportunities in RegTech Market
    4.2 Market in North America, By Application and Country
    4.3 Market Growth in Major Countries

5 Market Overview and Industry Trends (Page No. - 30)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increased Cost of Compliance
                    5.2.1.2 Regulatory Sandbox Approach
                    5.2.1.3 Lower Entry Barriers for Saas-Based Offerings
           5.2.2 Restraints
                    5.2.2.1 Regulatory Divergence
           5.2.3 Opportunities
                    5.2.3.1 Application of Artificial Intelligence (AI), Machine Learning, and Blockchain to Offer New Efficiencies in Compliance
           5.2.4 Challenges
                    5.2.4.1 Cybersecurity and Privacy
                    5.2.4.2 Lack of Data Standardization
    5.3 Industry Trends
           5.3.1 Financial Acts and Regulations

6 RegTech Market, By Application (Page No. - 37)
    6.1 Introduction
    6.2 Risk & Compliance Management
           6.2.1 Increase in the Regulatory and Compliance Mandates to Drive the Risk & Compliance Management
    6.3 Identity Management
           6.3.1 Adoption of AI Technology for Secured Identity Verification
    6.4 Regulatory Reporting
           6.4.1 Increase in the Monitoring of the Audit Process
    6.5 Fraud Management
           6.5.1 Financial Institutions are Focussing More on Avoiding Financial Frauds
    6.6 Regulatory Intelligence
           6.6.1 Data Analytics is the Key Component in the Regulatory Intelligence

7 RegTech Market, By Organization Size (Page No. - 43)
    7.1 Introduction
    7.2 Large Enterprises
           7.2.1 High Complexities in Regulatory Adherence is Driving the Adoption of RegTech
    7.3 SMEs
           7.3.1 High Adoption of Technology is Driving the RegTech Growth

8 RegTech Market, By Region (Page No. - 47)
    8.1 Introduction
    8.2 North America
           8.2.1 US
                    8.2.1.1 High Compliance Cost is Driving the Demand for RegTech Solutions
           8.2.2 Canada
                    8.2.2.1 Identity Management is A Major Focus Area for Regulators
    8.3 Europe
           8.3.1 United Kingdom
                    8.3.1.1 Brexit Impact Will Positively Impact the RegTech Landscape
           8.3.2 Germany
                    8.3.2.1 High Funding Raised By Fintech Companies is Driving RegTech Developments
                    8.3.2.2 Rest of Europe
    8.4 Asia Pacific
           8.4.1 China
                    8.4.1.1 High Technological Spending Will Drive RegTech Adoption
           8.4.2 Australia
                    8.4.2.1 Growing Number of RegTech Startups is Driving the Market Growth
           8.4.3 Rest of Asia Pacific
    8.5 Rest of the World
           8.5.1 United Arab Emirates (UAE)
                    8.5.1.1 Kyc Adoption is Expected to Drive the Market
           8.5.2 Brazil
                    8.5.2.1 Blockchain Adoption Will Drive the RegTech Market
           8.5.3 South Africa
                    8.5.3.1 Kyc Compliance is A Major Focus Area for Financial Institutions in South Africa
           8.5.4 Others

9 Competitive Landscape (Page No. - 60)
    9.1 Overview
    9.2 Market Ranking Analysis for the RegTech Market
    9.3 Competitive Scenario
           9.3.1 New Product Launches
           9.3.2 Agreements and Partnerships
           9.3.3 Business Expansions
           9.3.4 Mergers & Acquisitions

10 Company Profiles (Page No. - 65)
(Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View)*
     10.1 Abside Smart Financial Technologies
     10.2 Accuity
     10.3 Actico
     10.4 Alto Advisory
     10.5 Broadridge
     10.6 Compendor
     10.7 Compliance Solutions Strategies (CSS)
     10.8 Deloitte
     10.9 Eastnets
     10.10 Fenergo
     10.11 IBM
     10.12 Infrasoft Technologies
     10.13 Jumio
     10.14 Lombard Risk
     10.15 London Stock Exchange Group (LSEG)
     10.16 Metricstream
     10.17 Nasdaq Bwise
     10.18 Nice Actimize
     10.19 PWC
     10.20 Rimes Technologies
     10.21 Sai Global
     10.22 Sysnet Global Solutions
     10.23 Thomson Reuters
     10.24 Trulioo
     10.25 Wolters Kluwer

*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 103)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Available Customizations
     11.4 Related Reports
     11.5 Author Details


List of Tables (28 Tables)

Table 1 United States Dollar Exchange Rate, 2015–2017
Table 2 RegTech Market Size, By Application, 2016–2023 (USD Million)
Table 3 Risk & Compliance Management: Market Size, By Region, 2016–2023 (USD Million)
Table 4 Identity Management: Market Size, By Region, 2016–2023 (USD Million)
Table 5 Regulatory Reporting: Market Size, By Region, 2016–2023 (USD Million)
Table 6 Fraud Management: Market Size, By Region, 2016–2023 (USD Million)
Table 7 Regulatory Intelligence : RegTech Market Size, By Region, 2016–2023 (USD Million)
Table 8 Market Size, By Organization Size, 2016–2023 (USD Million)
Table 9 Large Enterprises: Market Size, By Region, 2016–2023 (USD Million)
Table 10 SMEs: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Market Size, By Region, 2016-2023 (USD Million)
Table 12 North America: RegTech Market Size, By Country, 2016-2023 (USD Million)
Table 13 North America: Market Size, By Application, 2016-2023 (USD Million)
Table 14 North America: Market Size, By Organization Size, 2016-2023 (USD Million)
Table 15 Europe: Market Size, By Country, 2016-2023 (USD Million)
Table 16 Europe: Market Size, By Application, 2016-2023 (USD Million)
Table 17 Europe: RegTech Market Size, By Organization Size, 2016-2023 (USD Million)
Table 18 Asia Pacific  Market Size, By Country, 2016-2023 (USD Million)
Table 19 Asia Pacific:  Market Size, By Application, 2016-2023 (USD Million)
Table 20 Asia Pacific:  Market Size, By Organization Size, 2016-2023 (USD Million)
Table 21 Rest of the World: Market, By Country, 2016-2023 (USD Million)
Table 22 Rest of the World: RegTech Market Size, By Application, 2016-2023 (USD Million)
Table 23 Rest of the World: Market Size, By Organization Size, 2016-2023 (USD Million)
Table 24 Market Ranking, 2018
Table 25 New Product Launches/Product Enhancements, 2017–2018
Table 26 Agreements and Partnerships, 2017–2018
Table 27 Business Expansions, 2016–2018
Table 28 Mergers and Acquisitions, 2017–2018


List of Figures (33 Figures)

Figure 1 RegTech Market Segmentation
Figure 2 Regional Scope
Figure 3 Market: Research Design
Figure 4 Research Methodology
Figure 5 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Segments With the Largest Share of the RegTech Market in 2018
Figure 10 Market, By Region
Figure 11 Increased Cost of Compliance is One of the Factors Driving the Market
Figure 12 Risk & Compliance Management and the US Estimated to Account for the Largest Shares of the North America Market in 2018
Figure 13 Market in Australia and the UK to Grow at the Highest Rates During the Forecast Period
Figure 14 Drivers, Restraints, Opportunities, and Challenges: RegTech Market
Figure 15 Risk & Compliance Management Segment to Lead the Market From 2018 to 2023
Figure 16 Large Enterprises Segment to Lead the Market From 2018 to 2023
Figure 17 Market in Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 North America: RegTech Market Snapshot
Figure 19 Asia Pacific: Market Snapshot
Figure 20 Key Developments By Leading Players in the Market During 2016–2018
Figure 21 Broadridge: Company Snapshot
Figure 22 Broadridge: SWOT Analysis
Figure 23 Deloitte: Company Snapshot
Figure 24 Deloitte: SWOT Analysis
Figure 25 IBM: Company Snapshot
Figure 26 IBM: SWOT Analysis
Figure 27 Lombard Risk: Company Snapshot
Figure 28 LSEG: Company Snapshot
Figure 29 London Stock Exchange Group: SWOT Analysis
Figure 30 PWC: Company Snapshot
Figure 31 Thomson Reuters: Company Snapshot
Figure 32 Thomson Reuters: SWOT Analysis
Figure 33 Wolters Kluwer: Company Snapshot

The study involved four major activities to estimate the current market size for RegTech. Exhaustive secondary research was done to collect information on the RegTech market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of the segments and subsegments of the RegTech market.

Secondary research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, whitepapers, certified publications and articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary research

The RegTech market comprises several stakeholders, such as service providers, solution vendors, service providers, system integrators, technology partners, consulting firms, research organizations, managed service providers, government agencies, financial bodies, resellers and distributors, enterprise users, and technology providers. The demand side of the RegTech market consists of financial institutions, investors, and insurance companies. The supply side includes RegTech solutions providers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents:

RegTech Market

To know about the assumptions considered for the study, download the pdf brochure

Market size estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the RegTech market. These methods were also used extensively to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.

Report objectives

  • To determine and forecast the RegTech market by application, organization size, and region from 2018 to 2023, and analyze the various macroeconomic and microeconomic factors that influence the market growth
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the RegTech market
  • To analyze the market with respect to individual growth trends, prospects, and contributions to the market
  • To forecast the market size of four main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the RegTech market
  • To profile key players in the RegTech market and comprehensively analyze their core competencies in each microsegment
  • To analyze the competitive developments, such as agreements, contracts, joint ventures, and mergers & acquisitions, in the RegTech market

Scope of report

Report Metrics

Details

Market size available for years

2016-2023

Base year considered

2017

Forecast period

2018-2023

Forecast units

Value (USD)

Segments covered

Application, Organization Size, and Region

Geographies covered

North America, Europe, Asia Pacific, and RoW

Companies covered

25 major vendors, namely, Abside Smart Financial Technologies (Spain), Accuity (US), ACTICO (Germany), Alto Advisory (Luxembourg), Broadridge (US), Compendor (Germany), Compliance Solutions Strategies (CSS) (US), Deloitte (US), EastNets (UAE), Fenergo (Ireland), IBM (US), Infrasoft Technologies (India), Jumio (US), Lombard Risk (UK), London Stock Exchange Group (LSEG) (UK), MetricStream (US), Nasdaq BWise (Netherlands), NICE Actimize (US), PwC (UK), RIMES Technologies (US), SAI Global (Australia), Sysnet Global Solutions (Ireland), Thomson Reuters (Canada), Trulioo (Canada), and Wolters Kluwer (Netherlands)

This research report categorizes the RegTech market to forecast revenues and analyze trends in each of the following submarkets:

On the basis of application, the RegTech market has been segmented as follows:

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

On the basis of organization size, the RegTech market has been segmented as follows:

  • Large Enterprises
  • SMEs

On the basis of region, the RegTech market has been segmented as follows:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • Rest of Asia Pacific
  • RoW
    • Brazil
    • Mexico
    • UAE
    • Others

Available customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product analysis

  • Product Matrix, which offers a detailed comparison of product portfolio of each company
  • Further breakdown of the RegTech market, by application

Company information

  • Detailed analysis and profiling of additional market players (Up to 5)
Report Code
TC 6790
Published ON
Dec, 2018
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the RegTech Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved