RegTech in Finance Market Size is projected to reach USD 44.54 billion by 2030, growing at a CAGR of 22.6%: Straits Research

The global RegTech in finance market had a revenue share of USD 8,727 million in 2021, presumed to reach USD 44,544 million by 2030, expanding at a CAGR of 22.6% during the forecast period. The RegTech sector has emerged as one of the most rapid adopters of new technologies, including blockchain, chatbots, AI, RPA, data analytics, cloud computing, and application programming interfaces (APIs).

New York, United States, Aug. 31, 2023 (GLOBE NEWSWIRE) — RegTech, also referred to as regulatory technology, is any technology that allows businesses to adhere to the rules set by regulatory institutions. The RegTech suite of technologies enhances regulatory operations by employing state-of-the-art tools, including big data, cloud computing, machine learning, and artificial intelligence. RegTech also describes a group of businesses that help firms meet essential requirements, including reporting, compliance, regulation, and monitoring.

RegTech automates repetitive tasks, including real-time reporting on transactions, hazards, and regulatory changes and alerting compliance staff to potentially fraudulent activity. Automation allows compliance professionals to focus on high-value tasks. This enhances their jobs, increases internal efficiency, and helps the organization stay in compliance with regulations. RegTech helps organizations become more efficient in achieving regulatory compliance by automating processes, which lowers the possibility of human error.

The adoption of cutting-edge technologies such as cloud computing, application programming interfaces (APIs), data analytics, artificial intelligence, robotic process automation (RPA), chatbots, and machine learning, which improve the quality of reported data across various regimes and jurisdictions, is driving the growth of the RegTech in finance market. As a result of improved coordination between national regulators and financial institutions, which aims to help both businesses and governments, the industry is anticipated to expand. RegTech in finance market expansion is, however, constrained by concerns about client data privacy and different laws in different nations throughout the world.

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The Growing Deployment of Advanced Technologies and Focus on Financial Norms to Drive the Global RegTech in Finance Market

Application programming interfaces, blockchain, chatbots, AI, RPA, data analytics, cloud computing, and other emerging technologies have all been quickly adopted by the regulatory technology sector (RegTech). Additionally, there is an increasing need to improve the quality of provided data across several regimes and jurisdictions as country regulatory and government policy evolves. Therefore, many regulatory bodies are utilizing cutting-edge technology and providing integrated and value-added services to maintain the demand for the electronic processing of rules. The adoption and use of advanced technologies that increase operational efficiency, preserve security, and provide convenience and efficiency solutions are driving the growth of the RegTech in Finance market.

RegTech solutions also protect financial inclusion’s transparency and provide convenient services; thus, regulators from many nations have increased their focus on strengthening financial regulations. Risk management and mitigation are two key areas where financial rules that affect the financial markets focus. Other important areas include trade and transaction reporting, improved Know Your Customer (KYC) and Anti Money Laundering (AML) techniques, and risk management. Additional factors for the RegTech in finance market’s expansion include the development of a technological framework with specific regulations and standards to manage the expense and complexity of compliance.

Potential in Emerging Economies to Create Global RegTech in Finance Market Opportunities

Developing nations offer significant possibilities for RegTech solution providers to diversify their product portfolios because many financial institutions are integrating FinTech technologies into their current business procedures. The adoption of new technologies like Big Data, machine learning, AI, and chatbots, as well as the rapid growth of domestic companies, particularly in countries like Australia, China, India, Singapore, and South Korea, are predicted to create a potential for the RegTech in finance market in the coming years.

Report Scope

Report Metric Details
Market Size by 2030 USD 44.54 billion
Market Size in 2021 USD 8.72 billion
CAGR 22.6% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Component, Deployment Model, Enterprise Size, Application, End-User
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors ACTICO GmbH, Acuant, Inc., Ascent, Broadridge Financial Solutions, Inc., ComplyAdvantage, International Business Machines (IBM), MetricStream Inc., NICE Ltd., Thomson Reuters, Wolters Kluwer NV
Key Market Opportunities Potential in Emerging Economies
Key Market Drivers The Growing Deployment of Advanced Technologies and Focus on Financial Norms

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Regional Insights

North America will command the market with the largest market share while expanding at a CAGR of 21.4%. RegTech is used by most banks and financial organizations in the US because of improved financial services efficiency, decreased costs & complexity, and enhanced consumer trust. In addition, several financial regulators, financial institutions, and RegTech vendors support the development and functioning of the RegTech industry. According to predictions, this will quicken regional market expansion. RegTech technology is also being adopted by several lobbying, governmental, corporate, and public policy organizations. A further incentive for enterprises to employ RegTech is the abundance of suppliers in the US and Canada.

The rapid growth of the banking industry due to modern technologies like blockchain, big data, artificial intelligence, and machine learning also contributes to the expansion of the RegTech industry in North America. Another critical factor in the market’s growth is the escalating collaboration between RegTech firms and regulatory bodies and the expanding awareness of RegTech among banks and other financial institutions.

The Asia Pacific will expand at a CAGR of 24.2% and hold USD 14,919 million. China, India, and Singapore are a few of the essential countries promoting the growth of the RegTech business in the area. The banking and financial sectors are encouraged by governments in Asia-Pacific, especially Japan, Malaysia, and Indonesia, to employ RegTech services and products. Several financial institutions are also using RegTech in Asia-Pacific to increase organizational efficiency, lower compliance risk exposure, and foster business efficiency. The highly fragmented RegTech in finance market in the Asia-Pacific was made worse by a sizable number of market participants participating in various activities, such as collaborations, acquisitions, and partnerships.

Key Highlights

  • The global RegTech in finance market size had a revenue size of USD 8,727 million in 2021, presumed to reach USD 44,544 million, expanding at a CAGR of 22.6% during the forecast period. 
  • Based on the component, the solution section is projected to advance at a CAGR of 21.3% and hold the largest market share.
  • Based on the deployment model, the on-premise section is projected to advance at a CAGR of 21% and hold the largest market share.
  • Based on enterprise size, the large enterprise section is projected to advance at a CAGR of 21.5% and hold the largest market share.
  • Based on the application, the risk & compliance management section is projected to advance at a CAGR of 20.9% and hold the largest market share.
  • Based on end-users, the bank section is projected to advance at a CAGR of 20.5% and hold the largest market share.
  • Based on regional analysis, North America will command the market with the largest market share while expanding at a CAGR of 21.4%.  

Competitors in RegTech in Finance in Finance Market

  • Acuant, Inc.
  • Ascent
  • Broadridge Financial Solutions, Inc.
  • ComplyAdvantage
  • International Business Machines (IBM)
  • MetricStream Inc.
  • NICE Ltd.
  • Thomson Reuters
  • Wolters Kluwer NV.

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Segmentation of Global RegTech in Finance Market
By Component

  • Solution
  • Services

By Deployment Model

  • On-premises
  • Cloud

By Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

By Application 

  • Anti-money laundering (AML) & Fraud Management
  • Regulatory Intelligence
  • Risk & Compliance Management
  • Regulatory Reporting
  • Identity Management

By End-User

  • Banks
  • Insurance Companies
  • FinTech Firms
  • IT & Telecom
  • Public Sector
  • Energy & Utilities
  • Others

By Region

  • North America 
  • Europe
  • Asia Pacific 

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Recent Developments

  • In 2022, ACTICO GmbH and Coinfirm entered into a strategic partnership. Banks and financial service providers will have direct access to the ACTICO Compliance Suite to monitor and evaluate money laundering risks for cryptocurrency transactions through this partnership.

News Media
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Global Open Banking Market Grows at a Staggering CAGR of 24.2%
Global Investment Banking and Trading Services Market Grows Steadily at a CAGR of 5.60%
Global GDPR Services Market Grows at a Staggering CAGR of 25.2%

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