Global Transaction Monitoring Market, By Component (Solutions, Services), Function (Case Management, KYC/Customer Onboarding, Dashboard and Reporting, Watch List Screening), Deployment Model (0n-Premises, Cloud), Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), Application Area (Anti-money Laundering, Customer Identity Management, Fraud Detection and Prevention, Compliance Management), End User (Banking, Financial Services, and Insurance, Government and Defense, IT and Telecom, Retail, Healthcare, Energy and Utilities, Manufacturing, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Transaction monitoring market size is valued at USD 34.82 billion by 2028 and is expected to grow at a compound annual growth rate of 15.67% in the forecast period of 2021 to 2028. Data Bridge Market Research report on transaction monitoring provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Transaction monitoring also known as business transaction is the procedure which is used in the businesses so that they can verify, analyze and manage the transaction that took place in the information system. They also assist the banks and other financial institute to maintain the track of the transaction done by the customers. The main focus is to analyze the customer profile and make sure that no doubtful activity should take place.
The growing use of advanced analytics to provide proactive risk alerts have been directly influencing the growth of transaction monitoring market over the forecast period of 2021 to 2028. Also the rising organizations’ need to comply with strict regulatory compliances and growing need to manage KYC compliance and ease money laundering and CTF activities are also flourishing the growth of the transaction monitoring market. Also the easy changing regulatory environment is also positively impacting the growth of the market. Furthermore, to improve risk management and reduce false positives, anti-money laundering automation is the only way solution for all trade in the sector which is also acting as an active growth driver towards the growth of the transaction monitoring market.
However, the dearth of risk analysis professionals as well as the growing requirement of highly advanced skills are acting as the major restrictions for the growth of transaction monitoring in the above mentioned forecasted period, whereas the increasing complication in managing cross-border and multi-jurisdictional AML compliance can challenge the transaction monitoring market growth in the forecast period of 2021 to 2028.
Likewise, the incorporation of artificial intelligence, machine learning and big data analytics along with growing digitalization in payment transaction process will further cater ample new opportunities that will lead to the growth of the transaction monitoring market in the above mentioned forecasted period.
This transaction monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on transaction monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Transaction Monitoring Market Scope and Market Size
Transaction monitoring market is segmented on the basis of component, function, deployment model, organization size, application area and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The component segment of the transaction monitoring market is segmented into solutions and services. Services have further been segmented into professional services and managed services. Professional services have further been sub-segmented into consulting services, integration services, training and education and support and maintenance.
- Based on function, the transaction monitoring market is segmented into case management, KYC/customer onboarding, dashboard and reporting and watch list screening.
- On the basis of deployment model, the transaction monitoring market is segmented into on-premises and cloud.
- Transaction monitoring market is segmented on the basis of organization size into small and medium-sized enterprises and large enterprises.
- Based on application area, the transaction monitoring market is segmented into anti-money laundering, customer identity management, fraud detection and prevention and compliance management.
- On the basis of end user, the transaction monitoring market is segmented into banking, financial services, and insurance, government and defense, IT and telecom, retail, healthcare, energy and utilities, manufacturing and others.
Transaction Monitoring Market Country Level Analysis
Transaction monitoring market is analyzed and market size, volume information is provided by country, component, function, deployment model, organization size, application area and end user as referenced above.
The countries covered in the transaction monitoring market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the transaction monitoring market due to the growing need to manage KYC compliance as well as the rising use of advanced analytics to give proactive risk alerts in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the increasing awareness of the transaction monitoring process and its benefits.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Transaction Monitoring Market Share Analysis
Transaction monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to transaction monitoring market.
The major players covered in the transaction monitoring market report are FICO, Oracle, BAE Systems, Fiserv, Inc., SAS Institute Inc., Experian Information Solutions, Inc., FIS, ACI Worldwide, Inc., Software AG, Refinitiv, ComplyAdvantage, InfrasoftTech, CaseWare International Inc., ACTICO GmbH, Bottomline Technologies (de), Inc., Beam Solutions, Inc., NICE Ltd., EastNets, Acuant, Inc., and ComplianceWise among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Transaction Monitoring Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.