Pune, India, February 7, 2019, MRFR Press Release/Market Research Future published a half-cooked research report on the Global RegTech market.
Among the various applications such as Risk & Compliance Management, Fraud Management, Regulatory Reporting, Identity Management, the regulatory intelligence segment is expected to grow at the highest CAGR during the forecast period. This is due to the greater need for identifying and interpreting regulatory changes. This identification enables the financial institutions to cope with the varying regulatory environment easily and reduce the risk of non-compliance. Moreover, the analytics offer financial institutions with insights which assists them with well informed decisions about regulatory adherence.
The key players in the RegTech market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Deloitte Touche Tohmatsu Limited (US), International Business Machines Corporation (US), London Stock Exchange Group plc. (UK), NICE (Israel), PWC (UK), Thomson Reuters Corporation (US), Bwise (Netherland), Compliance Solutions Strategies (US), Lomabard Risk (UK), Infrasoft Technologies Ltd. (India), Abside Smart Financial Technologies SL (UK), Fintellix Solutions (India), OpusDatum Ltd. (UK), NetGuardians Inc. (Switzerland), Alto Advisory (Luxembourg). The key strategies adopted by most of the players are partnerships and agreements, collaborations, and new product releases.
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The global RegTech market is expected to grow at a CAGR of 22.8% during the forecast period. The geographical analysis of RegTech market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
North America holds the largest market share and is expected to continue this dominance during the forecast period. Further to this, Europe closely following North America in terms of revenue generation considering Europe to be an advanced region in terms of technology and its adoption. North America has one of the most highly developed IT sectors in countries like the US and Canada, has greater adoption of RegTech. Artificial Intelligence (AI), machine learning, and Blockchain technologies are further driving innovation in the global RegTech market in the region.