Regtech Market Forecasts, Trends & Strategies 2023-2028 with Competitor Leaderboard Analysis for 23 Regtech Vendors

DUBLIN, Dec. 19, 2023 /PRNewswire/ — The “Regtech: Market Forecasts, Trends & Strategies 2023-2028” report has been added to  ResearchAndMarkets.com’s offering.

Regtech spend will surge to $207 billion globally by 2028, with AI & machine learning unlocking efficiencies. Spend on regtech by financial institutions and other industries will increase by 124% between 2023 and 2028 globally, from $83 billion in 2023.

Increasingly complex regulatory requirements are driving corporates to adopt a range of new technologies to facilitate compliance. New approaches include the use of shared blockchain ledgers to improve anti-money laundering and fraud compliance at cryptocurrency exchanges. Natural language processing is also used to detect malicious actors in emails and phone calls, successfully identifying misconduct, conflicts of interest and financial crime. With increased deployment of these technologies, we anticipate increasing levels of enterprise investment, as they recognise the vast efficiencies regtech can create.

The research found that the leading players offered streamlined identity verification automated by AI, and were able to successfully position themselves in many different industries, as regtech expands beyond just financial services. In order to stay ahead of their competition, vendors must develop solutions that utilise AI and machine learning, which can automate processes such as identity verification.

The most successful vendors will leverage AI to reduce the manual requirements needed by compliance teams and allow them to focus on tasks that require human elements, lowering costs and increasing productivity significantly, at a time of strong cost pressures.

The new Regtech report provides in-depth analysis and evaluation of how next generation regulatory technology such as AI and blockchain are being developed into solutions that help industry leaders reach their regulatory compliance requirements; delivering critical insights on how regtech will grow over the forecast period, key vendors that are driving the evolution of the regulatory landscape and the future prospects for these companies in the regtech landscape. It provides an evaluation of the development of regtech across 60 different key countries of interest. The study also contains the Competitor Leaderboard; positioning 23 key vendors from regtech including vendors specialising in areas such as regulatory compliance, identity management, risk management, transaction monitoring and more.

The research delivers incisive analysis of the regtech market landscape, looking at the past and future of regtech alongside the current regulatory framework in 6 regions; featuring key pain points for the digital onboarding processes, an assessment on leading technologies such as AI and blockchain, and the key opportunities for vendors to seize. Furthermore, the research includes a segment analysis on 8 key industries in which regtech has managed to position itself successfully: finance, gaming, cybersecurity, retail, cryptocurrency, healthcare, government and insurance & wealth.

Finally, the study also features a comprehensive forecast suite; encompassing regtech market growth and digital onboarding across two key segments:

Banking OnboardingProperty Onboarding

The research suite comprises:

Market Trends & Strategies (PDF)Competitor Leaderboard (PDF)Data & Forecasts (PDF & Excel)12 Months’ Access to harvest Online Data Platform

Key Market Statistics

Market Size in 2023: $83 billionMarket Size in 2028: $207 billion2023 to 2028 Market Growth: 124%

The Competitor Leaderboard:

Key player capability and capacity assessment for 23 regtech vendors, via the The Competitor Leaderboard, featuring the following vendors:

AscentBehavoxBigIDChainalysisComplyAdvantageCyberGRXDrataEllipticEncompassFeedzaiFenergoHummingbirdIDologyJumioOnfidoQuantexaSiftSocureSymphonyAI SensaTessianTruliooTrunomiUnit21

For more information about this report visit https://www.researchandmarkets.com/r/hd4dmd

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