MarketsandMarkets forecasts the global RegTech Market size is expected to grow USD 7.6 billion in 2021 to USD 19.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.8% during the forecast period.
The major vendors covered in the RegTech Market ACTICO GmbH (Germany), Ascent Technologies Inc. (US), Ayasdi AI LLC (US), Broadridge Financial Solutions, Inc. (US), Chainalysis Inc. (US), IVXS UK Limited (UK), Deloitte Touche Tohmatsu Limited (US), Fenergo, London Stock Exchange Group plc (UK), IdentityMind (US), International Business Machines Corporation (US), Jumio Corporation (US), MetricStream Inc. (US), Actimize Inc. (US), Pole Star Space Applications (UK), PricewaterhouseCoopers Private Limited (UK), Thomson Reuters, Trulioo (Canada), Wolters Kluwer NV (Netherlands), CLAUSEMATC, H LIMITED (UK), REGnosys Limited (UK), CEPTINEL RegTech (Chile), MindBridge (Canada), Tessian (UK), Hummingbird RegTech, Inc. (US), Coryltics (Ireland), and CyberGRX (US).
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These players have adopted various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to expand their presence in the RegTech market. Partnerships and new product launches have been the most adopted strategies by major players from 2019 to 2021, which helped them innovate their offerings and broaden their customer base.
Deloitte is a professional services firm specializing in consulting, risk management, financial advising, audit, tax, and other related services. Professionals that provide the service are members of Deloitte Touche Tohmatsu Limited, a UK-based private limited company. Manufacturing, technology, media and telecom, public sector, consumer business, life sciences and healthcare, energy and resources, and financial services are industries Deloitte serves. PROACT, the industry’s most advanced regulatory resolution, is provided by the company in the RegTech sector. The solution helps digitize the regulatory process for businesses. The company has a presence across the Americas, EMEA, and APAC. Its services are available in more than 150 countries and territories and are provided by more than 286,214 professionals. The firm is subject to the laws and professional regulations of the countries in which it operates.
IBM is a global provider of various technology products, solutions, and services. It is one of the leading providers of cloud platform and cognitive solutions companies to its clients in 170 countries across the globe. As of December 2020, IBM and all its subsidiaries include 345,900 employees. It offers services in five business segments: cognitive solutions, technology services and cloud platforms, Global Business Services (GBS), systems, and global financing. The company offers a variety of RegTech solutions for GRC, financial crimes, and regulatory. IBM enables its customers to make risk-aware and timely decisions. To increase operational efficiency, accelerate insight, and improve transparency, the organization applies recent breakthroughs in AI, ML, and automation to the risk and compliance process. IBM has a presence in more than 175 countries. It offers a wide range of solutions and services to various industry verticals, including automotive, aerospace and defense, government, banking, healthcare, finance, IT and telecom, BFSI, consumer products, and retail. It has established a strong channel partner ecosystem with the help of the partnership strategy.
RegTech Market with Covid-19 Impact by Component (Solution & Services), Application (Risk and Compliance Management, Identity Management, & Regulatory Reporting), Vertical, Deployment Type, Organization Size and Region - Global Forecast to 2026
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