Anti-Money Laundering Software Market to 2027 Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others)
Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others)
The anti-money laundering software market accounted to US$ 905.7 Mn in 2018 and is expected to grow at a CAGR of 21.1% during the forecast period 2019 - 2027, to account to US$ 4,993.2 Mn by 2027.
Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others)
APAC is expected to be the fastest growing region for the usage of anti-money laundering software market. The key regions influencing the growth of of anti-money laundering software market in Asia Pacific region, are China and Japan. The advancement in technology is growing at a higher pace. Almost 60% of the world’s population lives in the Asia Pacific region, which majorly depends on a number of banks as well as a financial institution for their transactions. The deployment of antimoney laundering software is most significant across diversified industries such as BFSI, Retail, IT & Telecom, healthcare with a purpose to deal with the growing instances of terrorist, fraud detection activities across the region, which further boosting the growth of anti-money laundering software market.
Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others) With increasing consumer adoption and subsequent transaction volumes in a competitive the Fin Tech firms in 2019 are expected to witness a large number of firms shifting to automated anti-money laundering practices. Furthermore, the ability of the automated anti-money laundering system to provide negligible amount of false positives generated by traditional data and technology. This in response also reduces the adverse effects of false positives and higher operational cost. Furthermore as the banks and investment partners raise their expectations from the FinTechs in order to see them working with innovative compliance partners to not only reduce operational costs but also prove that they are catching illicit finance.
Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others) While information sharing has witnessed success among regulators and banks, in the coming years the anti-money laundering software market is expected to become more prevalent amongst smaller financial institutions. In order to make sure that this trend is a success the antimony laundering landscape might also see a culture of collaboration. Furthermore, the market is also projected to experience various obstacles in the way of information sharing, which might include inconsistency of territorial regulation and privacy legislation. Over the period information sharing has evolved to be of crucial importance in order to fight financial crimes effectively. The companies across the globe have had experience challenges regarding tradition trend of not sharing information owing to the threat of tipping off and privacy related problems. For the coming years the fin-techs and technologies are anticipated to have a significant influence in structuring the information sharing process, which is driving the anti-money laundering software market. The global anti-money laundering software market by deployment type is segmented into on-premise and cloud. A cloud based antimoney laundering software is a web-based software as a service (SaaS) model utilizing enterprise cloud technology. Whereas on premises type system is the one deployed on the native hardware and network of the business. Over the years the demand for cloud based system is expected to achieve substantial growth rate. This is majorly because the cloud based Anti-money laundering software offers enhanced flexibility, scalability, and security to its users. On-premise segment dominate the anti-money laundering software market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027
Global Analysis and Forecasts by Deployment Type (On-premise and Cloud); Component (Software and Services); Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management); and End User (Healthcare, BFSI, Retail, IT & Telecom, Government, and Others)
Thank You Email :sales@theinsightpartners.com Phone :Â +1-646-491-9876