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Redding, California - October 3, 2022

RegTech Market Worth $23.6 Billion by 2029

RegTech Market by Component, Application, Organization Size, Deployment Mode, Technology, End User (Healthcare, BFSI, Retail, IT & Telecommunications, Government & Public Sector, Transportation & Logistics, Food & Beverage, Manufacturing, Other End Users)—Global Forecast to 2029


Meticulous Research®—a leading global market research company, published a research report titled, ‘RegTech Market by Component, Application, Organization Size, Deployment Mode, Technology, End User (Healthcare, BFSI, Retail, IT & Telecommunications, Government & Public Sector, Transportation & Logistics, Food & Beverage, Manufacturing, Other End Users)Global Forecast to 2029.’

According to this latest publication from Meticulous Research®, the global RegTech market is projected to reach  $23.6 billion by 2029, at a CAGR of 16.5% from 2022 to 2029. This market is driven by the growing number of fraudulent activities, the increasing need to automate regulatory compliance processes, and the rising need for faster transactions. Furthermore, the growing popularity of automated regulatory compliance and identity verification solutions by the online gaming industry and the increasing demand for risk & regulatory compliance solutions by the pharmaceutical industry are expected to offer significant growth opportunities for the RegTech market. However, the high costs of RegTech solutions/dashboards have emerged as notable restraints for market growth. Besides, the implementation of RegTech regulatory change poses serious challenges to the growth of the RegTech market.

The global RegTech market is segmented by component (solutions/platforms/dashboards, services), application (regulatory compliance, risk management, financial crime management, identity management/identification & background checks, compliance support, cybersecurity/information security, onboarding verification (AML, KYC, CDD), transaction monitoring), organization size (small & medium-sized enterprises, large enterprises), deployment mode (on-premise deployments, cloud-based deployments), technology (cloud computing, predictive data analytics, data transfer protocols, natural language processing, semantics/graph analysis, biometric, blockchain, machine learning, deep learning, robotic process automation, and other technologies), and end-use industry (healthcare, BFSI, retail, IT & telecommunications, government & public sector, transportation & logistics, food & beverage, manufacturing, and other end users). The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on component, the global RegTech market is segmented into solutions/platforms/dashboards and services. In 2022, the solutions/platforms/dashboards segment is expected to account for the largest share of the global RegTech market. The large market share of this segment is attributed to the increasing emphasis by leading RegTech players to launch money laundering and financial crime management solutions, the growing need to monitor regulatory changes, monitor risk, generate reports for compliance departments, growing demand for AML/CFT solutions by Asian countries, and the growing demand by banks to deploy solutions for data protection, detect fraud in time, and prioritize compliance. However, the services segment is expected to register the highest CAGR during the forecast period due to the efforts by RegTech providers to launch new RegTech service offerings, the rising number of RegTech services launches to stay up-to-date on new and updated regulations, the increasing need of process management, tracking, and reporting, and the increasing demand for designing, implementation & support, and consulting & development of RegTech solutions.

Based on application, the RegTech market is segmented into regulatory compliance, risk management, financial crime management, identity management/identification & background checks, compliance support, cybersecurity/information security, onboarding verification, and transaction monitoring. In 2022, the cybersecurity/information security segment is expected to account for the largest share of the global RegTech market. The large market share of this segment is attributed to the huge demand to deploy cyber security or information security solutions across enterprises, rapid growth in common web cyberattacks, the increasing need for highly secure information security or cybersecurity solutions, and the growing need to deal with changing cyber threats and risks. However, the onboarding verification segment is expected to register the highest CAGR due to the growing deployments of onboarding verification solutions by banking institutions, the increasing need for transforming the investor and client onboarding experience, the growing need to automate the onboarding process, and the growing popularity for fast and accurate verification results.

Based on organization size, the global RegTech market is segmented into small & medium-sized enterprises and large enterprises. In 2022, the large enterprises segment is expected to account for a larger share of the global RegTech market. The growth of this segment is driven by the growing demand for RegTech solutions by risk and compliance teams, the growing demand for fraud management solutions across large enterprises, the increasing need for cybersecurity in large enterprises, and large enterprises' huge potential to adopt RegTech solutions.  However, the SMEs segment is expected to register with the highest CAGR due to the increasing need for RegTech solutions by small organizations, the growing demand for regulatory compliance solutions by small-scale enterprises, and the notable benefits offered by RegTech solutions for small and medium-sized enterprises.

Based on deployment mode, the global RegTech market is segmented into on-premise deployments and cloud-based deployments. In 2022, the on-premise deployments segment is expected to account for a larger share of the global RegTech market. The large market share of this segment is attributed to the growing benefits offered by the on-premise deployment mode, the increasing need for complete visibility of consumers’ direct data centers, and the growing demand for greater security and privacy for consumers’ data. However, the cloud-based deployments segment is expected to register the highest CAGR due to the increasing need for cloud-based RegTech solutions for processing large amounts of data to identify risks and enhance controls, the growing benefits offered by centralized data storage, and the growing need to reduce internal system design, implementation, and ongoing maintenance costs.

Based on technology, the global RegTech market is segmented into cloud computing, predictive data analytics, data transfer protocols, natural language processing, semantics/graph analysis, biometric, blockchain, machine learning, deep learning, robotic process automation, and other technologies. In 2022, the cloud computing segment is expected to account for the largest share of the global RegTech market. The large share of this segment is attributed to the rising need to manage compliance while driving down the costs related to purchasing, installing, and managing the solution, the growing demand for cloud-based analytics and surveillance services, the surge in demand for secure infrastructure to maintain adequate data security, and the growing need of operational cost savings for financial organizations. However, the natural language processing segment is expected to register the highest CAGR. The growth of this segment is attributed to the efforts by leading players to launch AI-powered AML solutions, the increasing collaborations to digitize tax regulation monitoring, and the surge in demand for AI technology by RegTech providers.

Based on end user, the global RegTech market is segmented into healthcare, BFSI, retail, IT & telecommunications, government & public sector, transportation & logistics, food & beverage, manufacturing, and other end users. In 2022, the BFSI segment is expected to account for the largest share of the global RegTech market. The large market share of this segment is attributed to the efforts by companies to launch compliance solutions to simplify and expedite the compliance process for banking and financial instructions, the increasing product launches for financial crimes intelligence, and the increasing demand to build risk-based compliance programs. Additionally, the same industry is expected to register the highest CAGR during the forecast period.

Based on geography, the global RegTech market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Europe is expected to account for the largest share of the global RegTech market. The large share of this regional market is attributed to the growing deployment of financial solutions, European regulatory framework, regional developments in technologies, the increasing acceptance of digital currency, the strong presence of leading financial firms, fintech regulations by the government, dominant force of technological developments, and the rising emphasis of U.K.’s leading players to launch RegTech solutions. However, the Asia-Pacific region is slated to register the highest CAGR due to the rising demand for effective digital payment services, the well-established presence of fintech hotspots, heavy investments in fintech projects in China, a favorable Indian government initiative that supports the development of the RegTech solutions, and region’s startups and tech community in financial services.

Key Players

The key players operating in the global RegTech market are NICE Ltd. (Israel), Broadridge Financial Solutions, Inc. (U.S.), Deloitte Touche Tohmatsu Limited (U.K.), IBM Corporation (U.S.), Wolters Kluwer N.V. (Netherlands), Ascent Technologies Inc. (U.S.), SymphonyAI Sensa LLC (U.S.), Chainalysis Inc. (U.S.), cleversoft group GmbH (Germany), Corlytics (Ireland), DataCo GmbH (Germany), Hummingbird RegTech, Inc. (U.S.), Jumio Corporation (U.S.), MetricStream Inc. (U.S.), MindBridge Analytics Inc. (Canada), Pole Star Space Applications Limited (U.K.), REGnosys Limited (U.K.), and Trulioo Information Services Inc. (Canada).

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Key questions answered in the report-

  • Which are the high-growth market segments in terms of the component, technology, application, organization size, deployment mode, end-user, and countries?
  • What is the historical market for RegTech market across the globe?
  • What are the market forecasts and estimates for 2022-2029?
  • What are the major drivers, restraints, and opportunities in the global RegTech market?
  • Who are the major players in the global RegTech market, and what market share do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the global RegTech market?
  • What are the different strategies adopted by the major players in the market?
  • What are the geographic trends and high-growth countries?
  • Who are the local emerging players in the global RegTech market, and how do they compete with the other players?

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