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The transaction monitoring market size is expected to grow from USD 8.3 billion in 2018 to USD 16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1%
[March 26, 2019]

The transaction monitoring market size is expected to grow from USD 8.3 billion in 2018 to USD 16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1%


NEW YORK, March 26, 2019 /PRNewswire/ -- The need to manage KYC compliance, and mitigate money laundering and Counter-Terrorist Financing (CTF) activities to drive the transaction monitoring market

Read the full report: https://www.reportlinker.com/p05761032/?utm_source=PRN

The transaction monitoring market size is expected to grow from USD 8.3 billion in 2018 to USD 16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period
The factors expected to drive the transaction monitoring market are the need to manage KYC compliance, and mitigate money laundering and CTF activities; and the use of advanced analytics to provide proactive risk alerts.However, the difficulties in managing cross-border and multi-jurisdictional AML-compliance is still a concern for organizations.

Furthermore, lack of risk analysis professionals is expected to restrain the market growth.

The services segment to grow at a higher CAGR during the forecast period
The transaction monitoring market by service includes consulting, integration, training and education, and support and maintenance.These services help clients understand their solutions and related processes.

The solution segment is expected to hold a larger market size during the forecast period. The transaction monitoring solution is being deployed by a large number of Small and Medium-sized Enterprises (SMEs) and large enterprises to secure their organizations from the increasing money laundering and CTF attacks.

Increasing strict AML regulatory compliances and adoption of proactive security approach by SMEs to drive the growth of the SMEs segment during the forecast period
The SMEs segment is expected to grow at a higher CAGR, owing to the rising deployment of the transaction monitoring solution by SMEs to proactively monitor the suspicious transaction and comply with various strict government regulations.SMEs are small in terms of their size, but cater to a large number of customers globally.

The robust and comprehensive transaction monitoring solution is not implemented in SMEs, due to financial constraints in these organizations.Weak securiy measures and low budget make the SMEs more susceptible to financial losses, information loss and money laundering attacks.




However, the large enterprises segment is estimated to hold a higher market share in 2018.

APAC to have the highest CAGR during the forecast period
Asia Pacific (APAC) includes major economies, such as India, China, Australia, Hong Kong, and Japan, which are the biggest hub for various big banks that are rapidly deploying the transaction monitoring solution.APAC is expected to grow at the highest CAGR during the forecast period.


The APAC transaction monitoring market is gaining traction as it provides proactive security measures for securing the customer accounts and financial transactions.SMEs as well as large enterprises in the APAC region have become more aware of transaction monitoring services and started adopting them to combat cyber threats.

Furthermore, North America is estimated to have the largest market size in 2018.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the transaction monitoring market.
• By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation: C-Level: 35%, Director Level: 25%, and Others: 40%
• By Region: North America: 45%, Europe: 20%, APAC: 30%, and Others: 5%

The report includes the study of key players, such as NICE (Israel), Oracle (US), FICO (US), BAE Systems (UK), Fiserv (US), SAS (US), Experian (Ireland), FIS (US), ACI Worldwide (US), Refinitiv (UK), Software AG (Germany), ComplyAdvantage (US), Infrasoft Technologies (India), ACTICO (Germany), ComplianceWise (Netherlands), EastNets (UAE), Bottomline (US), Beam Solutions (US), IdentityMind (US), and CaseWare (Canada).

Research Coverage:
The report covers the transaction monitoring solution and services across segments.It aims at estimating the market size and growth potential of this market across segments, such as components, application areas, functions, deployment modes, organization size, verticals, and regions.

Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in this market with information about the closest approximations of the revenue numbers for the overall transaction monitoring market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights to better their positions and plan suitable go-to-market strategies.

It also helps stakeholders understand the pulse of the market and provides them with information about key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05761032/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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