Regulatory Technology (RegTech) Market 2021, Growing Rapidly with Modern Trends, Development, Investment Opportunities, Share, Revenue, Demand and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Regulatory Technology (RegTech) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Regulatory Technology (RegTech) Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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Market Synopsis

The global RegTech market is expected to grow at a CAGR of 22.8% during the forecast periodThe BFSI institutions function in a stringent regulated environment and face new regulations to avert money laundering and curb terrorist funding. Banks spend a large amount of money on fines and penalties for non-compliance with regulations. The RegTech solution vendors assist financial institutions to conduct their business operations in compliance with various government regulations. The RegTech market has started evolving in the past few years and is expected to withness a significant growth rate in the upcoming years.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The RegTech solutions strengthen compliance and mitigate risk in enterprises. The solutions reduce the fxed cost of compliance and increase effciency of business processes. Along with this, RegTech solutions provide valuable business insights, and provide customers with better and faster service. The enterprises use these solutions to drive new products and services, as well.

The major factors that contribute the market growth is the acceptance of regulatory sandbox and the growing focus on financial regulations. There are lower entry barriers for cloud based solutions in this market, which is an additional driving factor. The market is very dynamic due to acquisitions and mergers happening on a large scale. Few instance, Huawei Technologies acquired HexaTier in December 2016, Contego acquired Working Status in December 2016, ACA Compliance Group acquired Telavance in January 2017, and most recently, in 2018, Thomson Reuters acquired Integration Point.

Among the various applications, 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.

Segmentation

The global RegTech market is segmented into application, deployment mode, organization size and region/country.

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By application, the global RegTech is segmented into risk & compliance management, regulatory intelligence, fraud management, regulatory reporting, identity management.

By deployment, the global RegTech is segmented into on-premises and cloud.

By organization size, the global RegTech is segmented into small and medium-sized enterprises (SMEs) and large enterprises.

By region, the global RegTech market is segmented into North America, Europe, Asia-Pacific, and rest of the world.

Regional analysis

The global market for RegTech 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).

Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. The US occupies nearly 80%-85% share in the region as most of the leading vendors are headquartered here with strong customer base. The market size of Europe is estimated to grow at the highest CAGR from 2018-2023, followed by APAC. Various startups are being setup in these regions and are giving a boost to their market share.

Key Players

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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Apart from the top key players, various startups are a part of this market. These include CLAUSEMATCH LTD. (UK), Suade Labs (UK), Signzy (India), CUBE (UK), Onfido (UK), Trunomi (UK), ComplyAdvantage (UK), Elliptic (UK), and others. Many mergers and acquisitions are observed in the market, adding to the capabilities of the market leaders.

Intended Audience

Government Agencies

RegTech Service/Solution Providers

Financial Advisory/Consulting Firms

System Integrators

Research Institutes and Organizations

Technology Standards Organizations

Venture capitalist/angel investors

Information security directors/managers

Banks, insurers, financial services providers, central banks, and supervisory authorities

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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