The artificial intelligence in regtech market has witnessed substantial growth, expanding from $1.37 billion in 2023 to $1.89 billion in 2024, reflecting a compound annual growth rate (CAGR) of 37.3%. This growth can be attributed to increasing compliance costs, demand for automation, data explosion, and enhanced risk management.
Anticipated Strong Future Growth
The artificial intelligence in regtech market is expected to continue its rapid expansion, projected to reach $6.64 billion by 2028, with a CAGR of 36.9%. Key drivers for this growth include regulatory reporting requirements, the need for real-time monitoring, advancements in regulatory technology, a focus on customer protection, and cross-border compliance.
For comprehensive insights, explore the detailed sample report: Artificial Intelligence in Regtech Global Market Report.
Growth Driver: Rise in Fraud Detection
The increasing need for fraud detection is a significant growth driver for the AI in regtech market. AI in regtech aids in identifying and preventing fraudulent activities by using advanced algorithms and machine learning techniques to analyze large volumes of data from various sources. This capability provides organizations with powerful tools to detect and prevent fraud, reducing financial losses and safeguarding against regulatory violations.
Major Players and Market Trends
Prominent players in the artificial intelligence in regtech market include:
- IBM Watson Financial Services,
- White and Case LLP,
- Sysxnet Limited,
- Trulioo,
- Onfido,
- ComplyAdvantage,
- Behavox Ltd.,
- FundApps Ltd.,
- Sift Science,
- AlgoDynamix,
- WorkFusion,
- Trunomi,
- Elliptic,
- Fund Recs,
- IdentityMind Global,
- Corlytics Ltd.,
- Silverfinch Consultancy Pvt Ltd,
- Merlon Intelligence,
- Open Source Investor Services,
- AQMetrics Limited,
- Ayasdi, CheckRecipient Limited, and
- KYC Exchange Net AG.
Major companies are developing innovative AI RegTech solutions to enhance compliance processes within the financial services industry. These solutions leverage AI and machine learning to automate tasks, improve efficiency, and mitigate risks associated with regulatory compliance.
Market Segments
- By Type: Solutions, Services
- By Operation Model: Unsupervised Learning, Supervised Learning, Reinforced Learning, Semi-Supervised Learning
- By Application: Regulatory Compliance, Risk Management, Financial Crime, Identity Management, Compliance Support, Analytics, Automated Trading
Geographical Insights: North America Leading the Market
North America was the largest region in the AI in regtech market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of AI’s benefits in regtech.
Artificial Intelligence in Regtech Market Definition
Artificial intelligence in regtech involves applying AI technologies within regulatory technology to improve data governance, business risk, and regulatory compliance.
The main types of AI in regtech are solutions and services. These solutions use AI technologies, such as machine learning, natural language processing (NLP), and data analytics, to enhance regulatory compliance processes within the financial industry. The operation models include unsupervised learning, supervised learning, reinforced learning, and semi-supervised learning, used for regulatory compliance, risk management, financial crime, identity management, compliance support, analytics, and automated trading applications.
Artificial Intelligence in Regtech Global Market Report 2024 from TBRC The report covers:
- Market size data for the forecast period: Historical and Future
- Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East, and Africa
- Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
The report provides comprehensive insights into market size, drivers, trends, major players, competitors’ revenues, market positioning, and growth across geographies. It helps companies gain in-depth insights into opportunities and strategies, enabling them to tap into segments with the highest growth potential.
For more detailed information, refer to The Business Research Company’s Artificial Intelligence in Regtech Global Market Report 2024.
Source: einnews.com
