DUBLIN--(BUSINESS WIRE)--The "RegTech Market by Application (Compliance & Risk Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global RegTech market is expected to grow from USD 4.3 billion in 2018 to USD 12.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.5%.
The RegTech market growth is driven by various factors, such as the increased cost of compliance, regulatory sandbox approach, and low entry barrier for SaaS-based offerings. However, the regulatory divergence can hinder the growth of the RegTech market.
Risk management has become a necessity for seamless business functioning. Taking timely inputs from incident and risk register; analyzing, identifying, monitoring, and controlling the risk; implementing risk impact analysis; and prioritizing the risks to enterprises are some of the major functionalities of risk management software.
Enterprises with improper implementation of risk management programs are liable to risks such as paying large amounts in penalties for not conforming to regulatory requirements and reeling under financial crises due to mismanagement of financial controls or from natural calamities, such as earthquakes, fire, and flooding.
Market Dynamics
Drivers
- Increased Cost of Compliance
- Regulatory Sandbox Approach
- Lower Entry Barriers for Saas-Based Offerings
Restraints
- Regulatory Divergence
Opportunities
- Application of Artificial Intelligence (AI), Machine Learning, and Blockchain to Offer New Efficiencies in Compliance
Challenges
- Cybersecurity and Privacy
- Lack of Data Standardization
Industry Trends
- Financial Acts and Regulations
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 RegTech Market, By Application
7 RegTech Market, By Organization Size
8 RegTech Market, By Region
9 Competitive Landscape
10 Company Profiles
- Abside Smart Financial Technologies
- Accuity
- Actico
- Alto Advisory
- Broadridge
- Compendor
- Compliance Solutions Strategies (CSS)
- Deloitte
- Eastnets
- Fenergo
- IBM
- Infrasoft Technologies
- Jumio
- Lombard Risk
- London Stock Exchange Group (LSEG)
- Metricstream
- Nasdaq Bwise
- Nice Actimize
- PWC
- Rimes Technologies
- Sai Global
- Sysnet Global Solutions
- Thomson Reuters
- Trulioo
- Wolters Kluwer
For more information about this report visit https://www.researchandmarkets.com/research/mcn29r/global_regtech?w=4