Global Payment Monitoring Market Size Study & Forecast, by Component (Solution, Services), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Application (Anti-Money Laundering, Compliance Management & Customer Identity Management, F

Global Payment Monitoring Market Size Study & Forecast, by Component (Solution, Services), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Application (Anti-Money Laundering, Compliance Management & Customer Identity Management, Fraud Detection & Prevention), By End User (BFSI, IT & Telecom, Healthcare, Retail & e-commerce, Government & Defense, Others), and Regional Analysis, 2023-2030

Global Payment Monitoring Market is valued at approximately USD 8.18 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 28.17% over the forecast period 2023-2030. Payment Monitoring is the process of monitoring and analyzing payment transactions to detect and prevent fraudulent activities, money laundering, cyber threats, and other financial crimes. It assists financial institutions, payment service providers, and other organizations to mitigate risk and ensure compliance with regulatory requirements. These solutions use advanced analytics, machine learning algorithms, and real-time monitoring to analyze payment data and identify suspicious transactions. The increasing requirement for managing KYC compliance and CTF activities, growing awareness among organizations to comply with regulatory requirements and multi-channel monitoring, the surge in the payment data volumes, and rise in payment fraudulent activities are the most prominent factors that are propelling the market demand across the globe.

The rising inclination towards digital payments is acting as a catalyzing factor for the growth of the market. The shift towards digital payments and online transactions has created new opportunities for payment monitoring solutions. Accordingly, increasing adoption of digital payment methods by consumers and businesses is stipulating demand for payment monitoring. According to Statista, in 2022, the overall transaction value in the digital payments segment is estimated to account for USD 8.49 trillion. Also, it is projected that the total amount is likely to reach USD 15.17 trillion by 2027 with a CAGR of 12.31% during 2022-2027. Hence, the increasing preference for digital payments is exhibiting a positive influence on the market demand in the global market. Moreover, the rise in advancement in payment monitoring solution incorporating AI and ML and the growing awareness for real-time monitoring presents various lucrative opportunities over the forecasting years. However, the lack of risk analysis professionals and difficulties in managing cross-border and multi-jurisdictional AML compliance are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Payment Monitoring Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing need for managing KYC compliance and CTF activities, as well as early implementation of novel technologies and solutions for proficiently managing business operations. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The rapid growth of the e-commerce industry, growing payment data volumes, increasing number of payment fraudulent activities, along with the presence of emerging economies are significantly propelling the market demand across the region.

Major market players included in this report are:
BAE Systems
Fair Isaac Corporation
ACI Worldwide Inc.
Fiserv Inc.
Oracle Corporation
SAS Institute
FIS
Nice Ltd.
Software AG
Thomson Reuters Corporation

Recent Developments in the Market:
 In November 2022, Travelex Bank, a foreign exchange specialist in Brazil unveiled hteir preparation for a growth spurt across its money transfer business by deploying ThetaRay’s SONAR anti-money laundering (AML) SaaS solution for domestic and international transaction monitoring and real-time sanctions screening.

Global Payment Monitoring Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Component, Organization Size, Application, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component:
Solution
Services

By Organization Size:
Large Enterprises
Small & Medium Enterprises

By Application:
Anti-Money Laundering
Compliance Management & Customer Identity Management
Fraud Detection & Prevention

By End User:
BFSI
IT & Telecom
Healthcare
Retail & e-commerce
Government & Defense
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

BAE Systems
Fair Isaac Corporation
ACI Worldwide Inc.
Fiserv Inc.
Oracle Corporation
SAS Institute
FIS
Nice Ltd.
Software AG
Thomson Reuters Corporation

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