Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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.
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.
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.CLICK TO DOWNLOAD FREE SAMPLE
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.
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.
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.
The high implementation cost associated with the software and complexity associated with the implementation of the data is anticipated to hinder the growth of the overall market during the forecast period.
Our-in depth analysis of the global anti-money laundering (AML) software solution market includes the following segments:
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:
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