Global RegTech Market Share Likely to Reach At a CAGR of 15% By 2030

Our recently published report, “RegTech Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. As per research, the RegTech market was estimated at around US$ 8.1 billion in 2021, growing at a CAGR of nearly 15% during 2022-2030. The market is projected to reach approximately US$ 44 billion by 2030.

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RegTech Market: Overview

The RegTech market comprises the sales of RegTech products and services by organizations that deliver regulatory procedures for the financial sector through cutting-edge technologies. RegTech, or regulatory technology, is a group of businesses that uses cloud computing and software as a service to facilitate companies to comply with laws more quickly and affordably. Regulatory monitoring, surveillance, and compliance are the main functions of RegTech.

Growth Factors

Demand for faster transactions is propelling the growth of the market

The surging cases of fraudulent activities, including money laundering, in the financial sector, are projected to boost the growth of the RegTech market. Financial institutions require a more robust RegTech framework in order to properly manage the flood of constantly rising regulatory compliance and increasingly sophisticated breaches in light of the rise in fraudulent activities like money laundering. Therefore, the demand for the RegTech industry is growing as the number of fraudulent actions rises. Moreover, the global RegTech market is expanding due to rising compliance costs, a regulatory sandbox strategy, and reduced entry barriers for SaaS-based products.

Market expansion is anticipated to be facilitated by AI, machine learning, and blockchain to bring new efficiencies in compliance. RegTech market growth is constrained by the high software cost and lack of understanding of software knowledge.

Segmental Overview

The market for RegTech is segmented into component, application, deployment, and industry. The cloud segment is projected to witness tremendous growth. Since clients pay as per their consumption patterns, cloud computing services convert fixed expenses into variable costs. A cloud-based solution is offered to meet the unique needs of each customer. Customers can start or discontinue any services using these solutions depending on their current needs. These solutions give businesses the freedom to adapt to their changing contexts.

The implementation of cloud-based solutions has been on the rise. Reduced physical infrastructure, cheap maintenance costs, and constant data accessible from any location at any time are all benefits of the cloud. SaaS is quickly becoming the greatest option for businesses seeking cost-effective functionalities thanks to the rapid improvements in cloud technology.

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Regional Overview

Asia Pacific is estimated to witness a high CAGR growth during the projected period. The presence of several developing economies in the Asia Pacific and their increasing adoption of new technologies to adhere to regulations meant to improve the effectiveness of financial institutions is boosting the demand for RegTech solutions. Australia, Japan, Singapore, India, China, and New Zealand are noteworthy nations.

The rapid adoption of RegTech software in the region is anticipated. Due to the increased use of new technologies, significant investments in digital transformation, the rapid growth of domestic businesses, overall development of infrastructures, and rising GDP of various countries, the Asia Pacific region is thought to have the fastest-growing RegTech market.