Brandon Smith

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Regulatory Technology Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2027

Market Overview

The global regulatory technology market is garnering fabulous growing accruals. The market growth attributes to the growing acceptance of regulatory sandbox, focusing on financial regulations. There are lower entry barriers for cloud-based solutions in this market, which is an additional driving factor. Besides, the rising adoption of regulatory technologies in financial institutions to cope with the varying regulatory environment to reduce the risk of non-compliance escalates market growth. 

Market Research Future (MRFR) asserts that the global regulatory technology market is poised to grow at 22.8% CAGR throughout the review period (2020–2027). Moreover, the advantages that regulatory technology offers to enterprises in strengthening compliance and mitigating risks drive the market growth, providing well-informed decisions about regulatory adherence. Risks associated with fraud in business operations is a key growth driver for the regulatory technology market.

COVID 19 lockdown has made building data- and technology-driven resilience much more pressing than before the crisis, prevailing work from home policies. Financial firms quickly adapted to significant changes during the pandemic, although not without some operational and technology weaknesses emerging. After several months of working from home, financial risk, and regulatory compliance professionals with no clear end in sight, struggle to collaborate with their teams. 

Conversely, the lack of skilled expertise is a major factor forecasted to impede the growth of the market. Also, the initial investment required to implement regulatory solutions acts as a hurdle to market growth. Nevertheless, the rapidly growing trend of cloud platform adoption would support market growth throughout the assessment period. Also, growing numbers of businesses would accelerate the growth of the market. Moreover, stringent regulations and compliance by legal authorities boost the growth of the market.

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Segments

The report is segmented into four dynamics; 

By Application                  : Risk & Compliance Management, Regulatory Intelligence, Fraud Management, Regulatory Reporting, Identity Management, and others. 

By Deployment Mode   : On-Premises and Cloud-based. 

By Organization Size      : Small-to-Medium-Sized Enterprises (SMEs) and Large Enterprises. 

By Region                                            : Americas, Europe, APAC, and the Rest-of-the-World.

Regional Analysis

North America dominates the global regulatory technology market. The largest market share attributes to the presence of several notable players and technology development centers boosts market growth, allowing the early adoption of futuristic risk tracking technologies. Besides, the increasing demand for risk & compliance and fraud management solutions to protect critical information drives the growth of the regulatory technology industry. 

The US accounts for 80%-85% share in the regional market due to the rising government efforts to push the adoption of cloud technologies. The North American regulatory technology market is expected to retain its dominance throughout the forecast period. 

Europe stands second in the global regulatory technology market. Various start-ups are being set up in this region and are giving a boost to their market share. Additionally, technological advances and market proliferation of regulatory intelligence management support the regulatory technology market growth. Also, the market is fostered by the increasing adoption of cloud-based solutions and digitalization. 

Also, well-established infrastructures in the region influence the regional market growth, allowing a favorable environment for developments and early adoption of technologies.  The European regulatory technology market is estimated to grow at the highest CAGR during the assessment period. 

The Asia Pacific regulatory technology market is growing rapidly. Factors such as increasing numbers of businesses in APAC countries such as China, South Korea, Japan, and India substantiate the regional market growth. Moreover, the augmenting demand for the deployment of regulatory technology technologies increases sales in the market.  

Simultaneously, massive demand for advanced solutions that can provide comprehensive support and real-time access to data increases the market size. The APAC regulatory technology market is projected to create a substantial revenue pocket during the review period. 

Competitive Analysis

Highly competitive, the global RegTech market appears fragmented due to the presence of many well-established players. To gain a significantly larger competitive share, major players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch. These technology providers invest substantially in the development of novel technologies and upgrades. Industry players focus on optimized situational awareness for customers to ensure their mission success. 

Major Players:

Players leading the RegTech market include International Business Machines Corporation (US), Deloitte Touche Tohmatsu Limited (US), London Stock Exchange Group plc. (UK), PWC (UK), NICE (Israel), Thomson Reuters Corporation (US), Compliance Solutions Strategies (US), Bwise (Netherland), Lomabard Risk (UK), Abside Smart Financial Technologies SL (UK), Infrasoft Technologies Ltd. (India), Fintellix Solutions (India), NetGuardians Inc. (Switzerland), OpusDatum Ltd. (UK), Alto Advisory (Luxembourg), Suade Labs (UK), Clausematch Ltd. (UK), Signzy (India), Onfido (UK), CUBE (UK), Trunomi (UK), Elliptic (UK), and ComplyAdvantage (UK), among others.

Industry/ Innovation/ Related News:

September 21, 2020 ---- The Australian Prudential Regulation Authority (APRA) and the Australian Competition and Consumer Commission (ACCC) announced the signing an updated Memorandum of Understanding (MoU) designed to foster closer collaboration between the two regulators. The two regulators had a strong working relationship, founded on a common focus of supporting a safe, competitive, and efficient financial system.

The new MoU would enable both agencies to broaden the engagement model, emphasizing proactive information sharing and collaboration, increasing transparency further. The agreement would further strengthen the collaboration between the two Agencies, who have worked closely together during the COVID-19 pandemic issues, including resolution planning and authorizations on anti-competitive arrangements in the financial system.

Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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