USD 2.1 billion
Report ID: SQSG45F2005 | Region: Global | Published Date: April, 2023 | Pages: 172 | Tables: 65 | Figures: 75
Global Anti-Money Laundering Solution Market size was valued at USD 2.1 billion in 2021 and is poised to grow from USD 2.42 billion in 2022 to USD 8.13 billion by 2030, growing at a CAGR of 15.5% in the forecast period (2023-2030).
Anti-money laundering solutions allows banks and other financial institutions to use automated procedures to monitor client behavior for suspected criminal financial activity. Anti-money laundering software market includes many types of AML solutions such as transaction monitoring, currency transaction reporting, client identification management, and compliance management. The growth of global transactions has encouraged the adoption of anti-money laundering (AML) solutions by banks and other financial institutions.
Anti-money laundering software allows users to visualize, monitor, and resolve money laundering problems with ease. Strong data analysis, enhanced risk protection, faster processing, and improved efficiency in resolving these instances are all advantages of anti-money laundering systems. To combat terrorism funding and money laundering, several government entities around the world have passed legislation and laws. The Financial Action Task Force, an intergovernmental organization, assists governments in updating and developing anti-money laundering legislation. Anti-money laundering rules vary by country, thus financial institutions must ensure that their operations are consistent with the standards in place in the country where they operate. These rules assist financial institutions in developing a framework of procedures for preventing illicit money from entering their financial systems.
US Anti-Money Laundering Solution Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.1 billion
To get more reports on the above market click here to Buy The Report
The Global Anti-Money Laundering Solution Market is segmented on the basis of Type, Deployment Type, and Region. Based on the Type, the Anti-Money Laundering Solution Market is segmented into Know Your Customer (KYC) Systems, Compliance Reporting, Transaction Monitoring Systems, Case Management, Auditing & Reporting, and Others. Based on the Deployment Type, the Anti-Money Laundering Solution Market is segmented into On-Premises and Cloud. Based on Region, the Anti-Money Laundering Solution Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Anti-Money Laundering Solution Market Analysis by Type
In 2021, the transaction monitoring system segment of the Anti-Money Laundering Solution Market is projected to hold the most lucrative share of more than 30% in the Anti-Money Laundering Solution Market. Financial institutions can undertake real-time consumer transactions using anti-money transaction monitoring software. The demand for transaction monitoring software solutions is driven by benefits such as enhanced automation, ease of recognizing suspicious behavior, and increased efficacy. Features such as blacklist screening, client profiling, and sanctions screening are offered in a variety of products on the Anti-Money Laundering Solution Market.
Anti-Money Laundering Solution Market Analysis by Deployment Type
In 2021, the on-premise segment of the Anti-Money Laundering Solution Market is projected to hold the most lucrative share of more than 50% of the Anti-Money Laundering Solution Market. An on-premises deployment is a traditional approach in which customers' in-house servers are used to implement and operate solutions. On-premises solutions give businesses complete control over their platforms, apps, systems, and data, which they can manage themselves. The use of an on-premises deployment strategy is higher in businesses where user credentials are crucial for business operations since it can govern the systems.
To get detailed analysis on other segments, Request For Sample Report
The Global Anti-Money Laundering Solution Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, North America is projected to hold the most substantial share of the market. The regional Anti-Money Laundering Solution Market is likely to be driven by the increased adoption of technologically advanced IT infrastructure and solutions along with the presence of various well-established players operating in the market. Anti-money laundering market demand is predicted to be driven by factors such as the proliferation of inorganic growth methods among key AML vendors, developments related to AI and machine learning in AML solutions, and rising demand for cloud-based AML solutions.
Further, the Europe region is also likely to grow at a significant rate in the Anti-Money Laundering Solution Market during the forecast period. The regional growth of the Anti-Money Laundering Solution Market is attributed to the increasing adoption of technologically advanced solutions and services among the players in the region. Continuous changes in the regulatory landscape, such as AMLD5, GDPR, and PCI DSS, as well as emerging trends related to trade-based money laundering and virtual currencies, such as a shift toward the non-bank financial sector and non-financial profession, are expected to drive the demand for anti-money laundering solutions in Europe.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Anti-Money Laundering Solution Market Driver
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The Anti-Money Laundering Solution Market is fragmented in nature. The prominent players operating in the Anti-Money Laundering Solution Market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key Anti-Money Laundering Solution Market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Anti-Money Laundering Solution Market Top Players Company Profiles
Anti-Money Laundering Solution Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by type, the transaction monitoring system segment is projected to hold a dominating share throughout the forecast period. By deployment type, the on-premises segment is projected to hold a dominating share throughout the forecast period. In 2022, North America is projected to hold the most substantial share of the market. The regional Anti-Money Laundering Solution Market is likely to be driven by the increased adoption of technologically advanced IT infrastructure and solutions along with the presence of various well-established players operating in the market.
|Market size value in 2021||USD 2.1 billion|
|Market size value in 2030||USD 2.42 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Anti-Money Laundering Solution Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Anti-Money Laundering Solution Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Anti-Money Laundering Solution Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Anti-Money Laundering Solution Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.