The regulatory technology (RegTech) market offers innovative solutions for compliance and risk management across various industries. Its applications span financial services, healthcare, cybersecurity, and more. However, the dominating segment lies within the financial sector. RegTech is widely adopted by banks, insurance companies, and fintech firms to streamline regulatory reporting, automate compliance checks, and enhance anti-money laundering efforts. This segment thrives due to stringent financial regulations and the need for efficient, tech-driven solutions, while other sectors are gradually adopting RegTech for their compliance needs.
According to Data Bridge Market Research, the Global Regulatory Technology Market was valued at USD 18.02 billion in 2022 and is expected to reach the value of USD 710.56 billion by 2030, at a CAGR of 58.30% during the forecast period of 2023-2030.
“Surging demand for regulatory technology in the fintech sector boost the market’s growth”
The surging demand for regulatory technology (RegTech) in the fintech sector is primarily driven by the rapidly evolving financial regulations and the need for efficient compliance solutions. Fintech companies, known for their agility and innovation, require adaptable RegTech tools to navigate complex regulatory landscapes, ensuring both adherence and competitiveness. As these firms expand globally, the demand for RegTech solutions grows, fueling the growth of the RegTech market and its pivotal role in shaping the future of financial compliance.
What restraints the growth of the global regulatory technology market?
“Data privacy restraints the market’s growth”
Data privacy concerns act as a restraint in the regulatory technology (RegTech) market. As regulatory requirements become more stringent, handling sensitive data while complying with privacy regulations poses a challenge. RegTech solutions must strike a balance between enhancing compliance and safeguarding individual privacy. This necessitates significant investments in data protection measures and compliance technologies, potentially hindering the rapid growth of the RegTech market while ensuring the responsible handling of personal and sensitive information.
Segmentation: Global Regulatory Technology Market
The global regulatory technology market is segmented on the basis of component, enterprise size, deployment, application, and industry.
- On the basis of component, the global regulatory technology market is segmented into solutions, and services.
- On the basis of enterprise size, the global regulatory technology market is segmented into small and medium enterprise, and large enterprise.
- On the basis of deployment, the global regulatory technology market is segmented into cloud, and on-premises.
- On the basis of application, the global regulatory technology market is segmented into compliance management, risk management, identity management, and control, reporting and data analytics, information and asset management.
- On the basis of industry, the global regulatory technology market is segmented into banking, insurance, healthcare, transportation and logistics, industrial and manufacturing, IT and telecom, professional services, government and defence, and other
Regional Insights: North America dominates the Global Regulatory Technology Market
North America holds a dominant position in the regulatory technology (RegTech) market, both in terms of revenue and market share. This is attributed to significant investments in the region. Within North America, the United States, in particular, is poised to lead the RegTech market due to the proliferation of stringent regulations and a rising number of compliance challenges. The U.S. remains at the forefront of adopting innovative RegTech solutions to navigate these complex regulatory landscapes effectively.
The Asia-Pacific region is expected to maintain the highest compound annual growth rate from 2023 to 2030 in the regulatory technology (RegTech) market. This growth is attributed to the presence of key financial hubs and the rapid development of several countries in the region. As these nations grapple with evolving regulatory landscapes, there is a heightened demand for innovative RegTech solutions, driving sustained expansion and adoption of these technologies across the Asia-Pacific market.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-regulatory-technology-market
Recent Developments
- In April 2021, IBM announced its acquisition of Turbonomic, a Boston-based Network Performance Management (NPM) and Application Resource Management (ARM) software provider. This strategic move aims to provide enterprises with comprehensive application management and observability capabilities, enabling them to optimize resource utilization, reduce costs, and enhance performance through AI-driven optimization of servers, storage, networks, containers, virtual machines, and databases.
- In March 2020, MetricStream expanded its presence in New Zealand and Australia, positioning itself for accelerated growth in the Asia-Pacific market. This expansion allows MetricStream to tap into the rapidly growing Asian market and offer its Governance, Risk, and Compliance (GRC) solutions and products to clients in the region.
The Prominent Key Players Operating in the Global Regulatory Technology Market Include:
- LSEG. (U.K.)
- SAI Global Compliance, Inc. (Netherlands)
- Deloitte Touche Tohmatsu Limited (U.K.)
- NetGuardians Inc. (Switzerland)
- IBM Corporation (U.S.)
- Infrasoft Technologies Ltd. (India)
- Alto Advisory (Luxembourg)
- NICE (Israel)
- Thomson Reuters (U.K.)
- Fintellix Solutions (India)
- PWC (U.K.)
- Compliance Solutions Strategies (U.S.)
- LexisNexis Risk Solutions Group (U.S.)
- ACTICO GmbH (Germany)
- Broadridge Financial Solutions, Inc. (U.S.)
- Jumio (U.S.)
- MetricStream Inc (U.S.)
- Pole Star Space Applications (U.K.)
- Tessian Limited (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global regulatory technology market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Regulatory Technology Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
