Allied Market Research

RegTech Market Expected to Reach $28.33 Billion by 2027


Report Code : A05655

quote India is expected to attain significant growth in the coming years, owing to increase in investments in advance technologies by government and financial institutions are radically improving their compliance process via RegTech solutions, which is the major trend in the country. quote

Pramod Borasi
Research Analyst, BFSI at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “RegTech Market by Component, Deployment Type, Organization Size, Application, and End User: Opportunity Analysis and Industry Forecast, 2020-2027,” 

The global RegTech market size was valued at $5.46 billion in 2019, and is projected to reach $28.33 billion by 2027, growing at a CAGR of 22.3% from 2020 to 2027.

RegTech helps in managing in-house compliance processes, risk workflows, and audit by replacing them wholly through new technologies that update in real-time. In addition, RegTech uses advance technologies such as artificial intelligence, machine learning, cloud, and open data models to enhance regulatory processes and meet ongoing requirements of compliance. Risk management protocols, checks against daily regulatory alerts, controls to actively mitigate risk, and Know Your Customer (KYC), and Anti Money Laundering (AML) compliance with customized solutions are some of the major solutions provided under RegTech.

Factors such as improved focus on financial regulations, increase in adoption of advance technologies and rapid growth in collaboration between national regulators & financial institutions are major factors that drive the RegTech market growth. In addition, General Data Protection Regulation (GDPR) concerns across various regions and untapped potential of emerging economies are expected to provide lucrative opportunities for the RegTech solution providers in the coming years.

On the basis of deployment type, the cloud segment is the fastest growing segment in 2019, and is projected to maintain its dominance during the forecast period. Moreover, surge in use of cloud computing technology through Software-as-a-Service (SaaS) to help organizations comply with regulatory regulations boosts the demand for this segment ] during the forecast period.

On the basis of application, the risk & compliance management segment dominated the RegTech market in 2019, and is projected to maintain its dominance during the forecast period. This is attributed to the fact that RegTech applies innovative techniques & capabilities to help financial institutions improve their regulatory governance, reducing costs & financial crime. This is a major growth factor for the risk & compliance management segment in the market. 

By region, the global RegTech market was dominated by North America in 2019 and is expected to maintain this trend during the forecast period. Due to increased awareness of RegTech among banks & financial institutions and surge in partnership of RegTech companies with regulatory bodies are the major factors that influence growth of the RegTech market in this region. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period as several financial institutions are adopting RegTech to boost business efficiency, lowering compliance risk exposure and increasing bureaucratic competence of organizations in the region.  

The RegTech industry has experienced significant impact on revenue, owing to imposition of lockdowns & shutdowns, several regulatory changes in existing frameworks took place. Therefore, owing to change in regulatory compliance, governments across major countries are implementing secured technologies & releasing new frameworks via RegTechs in the market. Therefore, rise in adoption of regulatory technologies and increase in investments toward new regulatory compliances resulted in significant revenue growth for RegTech solution providers globally. 

Key findings of the study

  • By deployment type, the on-premise segment led the RegTech market size, in terms of revenue in 2019.
  • By application, the risk & compliance management segment accounted for the highest RegTech market share in 2019.
  • By region, North America generated the highest revenue in 2019.

The key players profiled in the RegTech market analysis are ACTICO GmbH, Acuant, Inc., Ascent, Broadridge Financial Solutions, Inc., ComplyAdvantage, International Business Machines (IBM), MetricStream Inc., NICE Ltd., Thomson Reuters, and Wolters Kluwer N.V. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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quote RegTech Market by Component (Solution and Services), Deployment Type (On-Premises and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises (SMEs)), Application (Anti-money Laundering (AML) & Fraud Management, Regulatory Intelligence, Risk & Compliance Management, Regulatory Reporting, and Identity Management), End User (Banks, Insurance Companies, FinTech Firms, IT & Telecom, Public Sector, Energy & Utilities, and Others) : Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

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