Regtech Market
Growth Factors of Regtech Market
The global regtech market size was valued at USD 12.82 billion in 2023 and is projected to grow from USD 15.80 billion in 2024 to USD 85.92 billion by 2032, exhibiting a CAGR of 23.6% during the forecast period of 2024-2032.
COVID-19 has driven up the demand for RegTech by increasing the need for automated compliance solutions because businesses faced new forms of regulation and adequate remote work, which could hinder the regtech market growth.
The driving factors for the Regtech market include the growing complexity of regulatory frameworks, the need for fee-effective compliance solutions, the expanded adoption of digital technologies, and the ever-increasing call for real-time danger control and fraud detection across financial and other regulated industries.
Artificial intelligence (AI) and devices getting to know are revolutionizing the regtech marketplace via automating compliance strategies and improving danger assessment competencies. These superior technologies can examine giant quantities of records to identify potential regulatory risks, lowering the manual effort required for compliance and increasing average efficiency, expanding the regtech market share globally. AI and device mastering algorithms can automate ordinary tasks of information collection, analysis, and reporting, liberating compliance teams to cognizance of more excellent strategic initiatives.
Comprehensive Analysis of Regtech Market
The Regtech market is segmented through deployment, business enterprise kind, application, and cease-user. In deployment, on-premises solutions lead because of records security issues, while cloud answers unexpectedly develop with the upward thrust of digital transformation. By employer type, big organizations dominate, needing equipment to manipulate compliance across international locations, while small & medium firms are increasingly adopting virtual solutions for regulatory management. In programs, regulatory compliance leads, driven by using organizations aiming to meet evolving regulations, even as risk management grows because of increasing cyber-attacks. The stop-person segments consist of BFSI, which dominates because of strict governance; healthcare, which faces rising cyber dangers; and manufacturing, driven by regulatory and environmental compliance requirements.
The North America region led the regtech market by benefitting a size of USD 4.31 billion in 2023 due to the increasing adoption of digital technology; the demand for regulated generation is predicted to grow.
The leading players in the Regtech market play a crucial role in shaping its growth trajectory and establishing industry standards. Key companies such as ACTICO GmbH (Germany), Ascent Technologies, Inc. (U.S.), Deloitte Touche Tohmatsu Limited (London), IBM Corporation (U.S.), Jumio Corporation (U.S.), Chainalysis Inc. (U.S.), MetricStream Inc. (U.S.), Thomson Reuters (Canada), Broadridge Financial Solutions, Inc. (U.S.), and Accuity Inc. (U.S.) contribute to a competitive landscape, driving innovation and advancement within the market.
In June 2023, Dassault Systèmes announced the enhancement of OUTSCALE, its cloud brand acknowledged for imparting sovereign and sustainable experiences as a service, by obtaining and integrating Innova Regtech answers into its financial services enterprise. This flow reinforces Dassault Systèmes' dedication to setting up OUTSCALE as a depended-on companion for economic establishments.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 23.6% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
Cloud
On-premises
By Enterprise Type
Large Enterprises
Small & Medium Enterprises
By Application
Risk Management
Regulatory Compliance
Governance
By End-user
BFSI
Manufacturing
IT & Telecom
Healthcare
Government
Others (Retail)
By Region
North America (By Deployment, By Enterprise Type, By Application, By End-user, and By Country)
- U.S. (By End-user)
- Canada (By End-user)
- Mexico (By End-user)
South America (By Deployment, By Enterprise Type, By Application, By End-user, and By Country)
- Brazil (By End-user)
- Argentina (By End-user)
- Rest of South America
Europe (By Deployment, By Enterprise Type, By Application, By End-user, and By Country)
- U.K. (By End-user)
- Germany (By End-user)
- France (By End-user)
- Italy (By End-user)
- Spain (By End-user)
- Russia (By End-user)
- Benelux (By End-user)
- Nordics (By End-user)
- Rest of Europe
Middle East and Africa (By Deployment, By Enterprise Type, By Application, By End-user, and By Country)
- Turkey (By End-user)
- Israel (By End-user)
- GCC (By End-user)
- North Africa (By End-user)
- South Africa (By End-user)
- Rest of the Middle East & Africa
Asia Pacific (By Deployment, By Enterprise Type, By Application, By End-user, and By Country)
- China (By End-user)
- Japan (By End-user)
- India (By End-user)
- South Korea (By End-user)
- ASEAN (By End-user)
- Oceania (By End-user)
- Rest of Asia Pacific
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