Anti-Money Laundering Solutions Market In-Depth Outlook Size, Share & Major Stakeholders
How Big is the Anti-Money Laundering Solutions Market?
TheΒ Global Anti-Money Laundering Solutions (AML) MarketΒ is projected to grow at a CAGR of around 18.2% during the forecast period, i.e., 2023-28. The key drivers propelling the market growth are rising awareness of financial crime and payments, improving customer engagement, and expanding enforcement activities by the government and regulatory bodies. In addition, there is a need for greater collaboration and integration among entities that engage in this space. Thus, the AML market is a unique area to grow with a particular focus on the North American markets.
Market Statistics
- Market Growth Rate (CAGR): 18.2% from 2023-2028
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Anti-Money Laundering Solutions Market Insight:
Driver-
Stringent Regulations Imposed by Regulatory Organizations
Creating efficient AML control systems and compliance programs is a top priority for governments in both developed and developing countries to reduce illicit money activity. For instance, in order to reduce the risk of financial crimes, all transactions covered by anti-money laundering regulations in the UK and Ireland are regulated by a body. Compliance with the nation’s anti-money laundering laws has been monitored by the Cayman Islands Monetary Authority (CIMA).
Additionally, automation and AML solutions are projected to be crucial in eradicating manual CDD and KYC processes in several industries to downsize the rate of human errors and compliance failures. Thus, strict rules set by regulatory organizations to address money laundering activities emerge as one key variable influencing the market in the forecast period.
Β Anti-Money Laundering Solutions Market Segmentation:
The report has segmented the market into the following categories:
By Components
- Solution β Market Size & Forecast 2019-2030, USD Million
- Services β Market Size & Forecast 2019-2030, USD Million
By Product Type
- KYC Systems β Market Size & Forecast 2019-2030, USD Million
- Transaction Monitoring β Market Size & Forecast 2019-2030, USD Million
- Case Management β Market Size & Forecast 2019-2030, USD Million
- Compliance Management β Market Size & Forecast 2019-2030, USD Million
- Auditing & Reporting β Market Size & Forecast 2019-2030, USD Million
By Deployment Mode
- Cloud β Market Size & Forecast 2019-2030, USD Million
- On-Premise β Market Size & Forecast 2019-2030, USD Million
By Organization Size
- Small & Medium Enterprise β Market Size & Forecast 2019-2030, USD Million
- Large Enterprise β Market Size & Forecast 2019-2030, USD Million
By End Users
- Banks & Financial Institutions β Market Size & Forecast 2019-2030, USD Million
- Insurance Providers β Market Size & Forecast 2019-2030, USD Million
- Gambling & Gaming Industry β Market Size & Forecast 2019-2030, USD Million
- Others β Market Size & Forecast 2019-2030, USD Million
By Region
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
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Competitive Landscape:
- SAS Institute
- FICO
- ACI Worldwide
- BAE Systems
- Oracle
- Experian
- Lexisnexis Risk Solutions
- FIS
- Jumio
- Fiserv
- Nelito Systems
- GB Group
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2023-2028)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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