Anti-Money Laundering (AML) Software Solution Market Size is Projected To Attain 3.5 Billion Till 2027 At A CAGR Of 16.0%
Anti- money laundering (AML) software enables the various organizations to monitor the financial activities through an automated process. It provides the real time alert to report the criminal activities in order to enhance the security measure and improve the operational efficiency of the organizations.
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Anti-money laundering offers the integrated data model that is used to cover the trading activities of the enterprises. Thus, it reduces the time related to the analyzing the data and validate the situation generation.
Market Size and Forecast
Currently the global anti-money laundering (AML) software solution market is observing vibrant growth on account of increasing cases associated with the money laundering worldwide. Additionally the growing technological development across the globe which includes the integration of the IT technologies in order to improve the operational efficiency of the organization is anticipated to be the major reason driving the growth of the overall anti-money laundering market.
Anti-money laundering (AML) software solution market is anticipated to record a CAGR of 16.0% over the forecast period. It is anticipated to reach overall market size of USD 3.5 billion by 2027. The anti-money laundering (AML) software solution market is expected to showcase a vibrant growth by the end of the forecast period. The market is segmented into deployment, type and end-use industry. On the basis of deployment, it is sub-segmented into on-premise and cloud. The on-premise is anticipated to be the largest sub-segment during the forecast period.
However, the cloud based sub-segment is anticipated to record the highest CAGR during the forecast period. The increasing adoption of the cloud based services by the various enterprises is anticipated to be major reason driving the growth of the sub-segment. On the basis of type, it is sub-segmented into transaction monitoring systems, currency transaction reporting, customer identity management systems and compliance management software. The transaction monitoring systems is anticipated to generate largest revenue during the forecast period.
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Anti-Money Laundering (AML) Software Solution Market Graph
The rising adoption of the transaction monitoring systems by the various financial institutions in order to reduce the risk of the money laundering is anticipated to be the major reason driving the growth of the sub-segment. On the basis of end-use industry, it is sub-segmented into IT and telecommunications, healthcare, BFSI, transportation and logistics, manufacturing, defense and government, retail, energy and utilities and others. The BFSI is anticipated to be the leading sub-segment during the forecast period. The increasing application of the anti-money laundering (AML) device in the BFSI is anticipated to reduce the fraud cases associated with money.
Key Players
IBM
Norkom Technologies Ltd
Fiserv Inc
SAS Institute Inc
NICE Actimize Inc
ACI Worldwide Inc
Cellent Finance Solutions AG
TCS
Oracle Corp
Infosys
3i Infotech Ltd
Accuity Birst Inc
Acquilan Technologies Inc
Ficrosoft
EastNets Ltd
and Others
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Growth Drivers
Rising Demand of Anti-Money Laundering (AML) Software Solution
The growing demand for the anti-money laundering software on the account of the stringent regulation regarding the fraud related to the money laundering is driving the global anti-money laundering (AML) software solution market. Additionally, technological advancement leading to the next generation technologies is anticipated to major growth driver for the global anti-money laundering (AML) software solution market during the forecast period.
Growing IT infrastructure among the banks
The growing IT infrastructure across globe is expected to increase the growth of the overall anti-money laundering (AML) software solution market. Additionally, the increasing acceptance of the technologies by the various financial institutions such as banks and industries in order to keep the track of the financial data is expected to drive the overall anti-money laundering (AML) software solution market during the forecast period. The various banks are investing on enhancing the safety and security measures.
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Market Segmentation
Our-in depth analysis of the global anti-money laundering (AML) software solution market includes the following segments:
By Deployment:
On-Premise
Cloud
By Type:
Transaction Monitoring Systems
Currency Transaction Reporting
Customer Identity Management Systems
Compliance Management Software
By End-Use Industry:
IT and Telecommunications
Healthcare
BFSI
Transportation and Logistics
Manufacturing
Defense and Government
Retail
Energy and Utilities
Others
By Region
On the basis of regional analysis, global Anti-Money Laundering (AML) Software Solution Market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to lead the global anti-money laundering (AML) software solution market during the forecast period. The stringent government regulations regarding the money laundering activities is anticipated to be the major reason driving the growth of the overall market during the forecast period. Asia-Pacific region is anticipated to register the highest CAGR during the forecast period.
This is attributed to the growing economy in the region leading to rise in the adoption of the advanced tools and technologies.
Global Anti-money laundering (AML) software solution market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
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This release was published on openPR.
