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Research Reports

Anti-Money Laundering Market Size Analysis, Industry Outlook, & Region Forecast, 2020-2027 | Reports And Data

According to the current analysis of Reports and Data, the global Anti-Money Laundering market was valued at USD 0.98 Billion in 2018 and is expected to reach USD 5.19 Billion by the year 2026, at a CAGR of 21.7%.  The study provides an overall insight into the factors responsible for the growth in the anti-money laundering market.…

The post Anti-Money Laundering Market Size Analysis, Industry Outlook, & Region Forecast, 2020-2027 | Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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According to the current analysis of Reports and Data, the global Anti-Money Laundering market was valued at USD 0.98 Billion in 2018 and is expected to reach USD 5.19 Billion by the year 2026, at a CAGR of 21.7%.  The study provides an overall insight into the factors responsible for the growth in the anti-money laundering market. The factors driving the anti-money laundering market increased adoption of digital payments, organizations need to comply with stringent regulatory compliance, and the rising analytics applications for risk management. Owing to rising urbanization and digitalization across the world, end-user sectors like BFSI, Government and financial institutions have experienced growth which is expected to supplement the growth of anti-money laundering market. An increasing number of key players are partnering up with the major core companies in the above sectors to provide superior and more efficient platform to help them grow their business as well as redefine experiences for the customers.

The market presents several opportunities for the vendors due to the increased revenue losses because of the fraudulent activities. The growth of anti-money laundering market is expected to be restrained due to the lesser availability of technical support, solution quality and ease of integration, involved in using Anti-Money Laundering solution. It is anticipated that extensive research and development funded by various companies, along with the enhancements of the cloud computing services would help in overcoming this challenge and convert it into an opportunity for the market to thrive upon. Seamless and simplified integration of solutions, robust data analysis, real-time updated customer information, improved risk protection, and improved efficiency along with faster processing of cases are some of the key benefits offered by the anti-money laundering solutions for the banking and financial institutions, insurance providers, and private financial organizations.

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Key participants include

FICO, ACI Worldwide, BAE Systems, Oracle, Experian, Nice, Lexisnexis Risk Solutions, Fiserv, FIS, Transunion, Napier, Caseware, Nelito Systems, Finacus Solutions, and Workfusion.

Further key findings from the report suggest

The market is growing at a CAGR of 9% in Asia Pacific due to the rapid industrialization, urbanization and digitalization of the developing countries and the increased use of digital payments in the region.

Global modernization and dawn of technologies like the blockchain, has increased the number of digital financial transactions using numerous smart electronic devices like smartphones, tablets and laptops which is expected to increase the use of anti-money laundering and expand its market size.

Governments are investing in the digitalization of the financial and the banking industry to help modernize the state-run services which are availed by people for the digital payments, online banking, and UPI payments. These services critically contribute the revenue generated by countries. It is expected this factor would help the anti-money laundering market grow.

The cloud deployment model is expected to dominate the anti-money laundering market owing to its low cost implementation and flexible subscription models suitable for the end users.

The large enterprises to dominate the market in 2019, however with increasing strategic investments and venture funding several start-ups and SMEs are developing innovative solutions in the anti-money laundering market

The KYC is estimated to have the fastest growing segment due to the increasing use of KYC in every industry and regulations for the use of KYC for banking and financial transactions in developing countries such as India.

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For this report, Reports and Data have segmented into the global Anti-Money Laundering market on the basis of resin type, composite phases, industry vertical, and region:

Component type (Revenue in USD Million; 2016–2026)

Solution

Services

Technology Type (Revenue in USD Million; 2016–2026)

Know Your Customer (KYC) Systems

Transaction Monitoring

Case Management

Compliance Management

Auditing and Reporting

Deployment type (Revenue in USD Million; 2016–2026)

On-Premises

Cloud

Organization Size (Revenue in USD Million; 2016–2026)

Large Enterprises

Small and Medium Scale Enterprises

Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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The post Anti-Money Laundering Market Size Analysis, Industry Outlook, & Region Forecast, 2020-2027 | Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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