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Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) — The world anti money laundering software market The size was valued at USD 1.65 Billion in 2021 and USD 1.82 Billion in 2022. The market is expected to reach USD 4.31 Billion by 2029 with a CAGR of 13.0% during the forecast period . The growing importance of consumer transaction monitoring is expected to propel the growth of the market. The increased focus of financial institutions on digital payments and related issues is expected to fuel market development.

Growing adoption of real-time transaction monitoring and RegTech automation is propelling the growth of the market. Fortune Business Insights™ shares this information in its report titled “Anti-Money Laundering Software Market Forecast, 2023-2029”.

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Development of key industry

November 2022: Sanction Scanner has collaborated with Coinfirm for the implementation of knowledge of compliance and traditional financial ecosystems. This partnership will ensure that clients can analyze and monitor transactions mediated by their companies for both crypto assets and sanctioned money.

Report scope and segmentation

Report cover Details
Forecast period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 13.0%
2029 value projection $4.31 billion
base year 2021
Anti-Money Laundering Software Market Size in 2021 $1.65 billion
Historical data for 2018 to 2020
Number of pages 135
Segments Covered Type, Business Type, Deployment, End User, and Geography

Key points to remember

  • Emerging trends in anti-money laundering software include big data analysisintegrated software and cloud-based solutions.
  • Anti-money laundering software is in high demand by businesses to identify fraudulent activity and prevent cyberattacks.
  • The cloud-based solutions segment holds a major share of the global market.
  • North America anti-money laundering software market size was USD 0.66 billion in 2021

Drivers and Restrictions

  • Adoption of Big Data Analytics to Propel Market Growth
  • The adoption of big data analytics in anti-money laundering solutions is expected to drive the growth of the anti-money laundering software market.
  • There has been a growing adoption of big data analytics, which helps organizations analyze businesses to determine patterns and valuable insights. The use of data analytics is expected to create the market growth for such solutions.
  • Big Data is also an essential tool for AML compliance as it helps in the customization and automation of AML compliance processes.
  • However, high costs and service-related business processes are hampering market expansion.


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segments

Integrated software to rule the segment as it combines various software

Based on type, the market is divided into embedded and standalone. The integrated segment is estimated to hold the maximum share of the segment as it combines various solutions such as audit management, anti-money laundering software and regulatory change management.

Large enterprise will be the main party due to the growing demand for APIs

According to the type of business, the market is divided into large enterprises and small and medium enterprises. The large enterprise segment is expected to hold the largest share of the segment owing to the growing demand for API deployment for improvement and agility and also to avoid risk.

Cloud to lead the segment due to its increased efficiency

Based on deployment, the market is divided into cloud and on-premises. The cloud-based model is expected to have a majority share due to the increased efficiency and low costs of developing an IT infrastructure.

Banks and Neobanks be the leading segment due to high adoption

On the basis of end-user, the market is divided into banking and neo-banks, insurance, investment, crypto, and others. The banking and neobank segment held the majority share in 2021 due to high adoption in identifying risk and meeting AML obligations.

Regional outlook

North America will dictate its market share due to the high number of end users

North America is expected to hold a majority share of the anti-money laundering software market share owing to technological innovations and high number of end users. The market in the region reached a valuation of USD 0.66 billion in 2021 owing to the increase in the rate of adoption of growth strategies by market players.

Europe is expected to show significant growth due to the adoption of new technologies and strict data privacy laws such as AMLA, AMLD6 and AMLR.

Asia-Pacific is expected to show steady growth due to developments in digitalization and banking solutions. Such developments are adopted in Thailand and India.

Competitive landscape

Strategies for Collaboration by Key Market Players to Boost Market Development

The major players in the market are focusing on expanding their presence through M&A strategies which is expected to create the demand for anti money laundering software. In June 2022, Trust Payments collaborated with Feedzai. The collaboration aims to add cloud-based risk management solutions that are integrated with machine learning and AI for Trust Payments customers. Major players in the market have collaborated with other players to help their businesses and expand their customer base.

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List of Key Players Featured in the Report

  • Oracle (US)
  • ACI Worldwide (USA)
  • Eastnet (USA)
  • AML partners. (WE)
  • Alessa (USA)
  • Acuant, Inc. (USA)
  • Feedzai (Portugal)
  • SAS Institute Inc. (USA)
  • Ondato (UK)
  • Sanctions Scanner (UK)

Main table of contents:

  • Global anti-money laundering software market size estimates and forecasts, by segments, 2018 – 2029
    • Main conclusions
    • By type (USD)
    • By business type (USD)
    • Per deployment (USD)
    • Per end user (USD)
      • Banks and Neobanks
      • Investment
      • Insurance
      • Investment
      • Crypto
      • Others (Health, Government, etc.)
    • By region (USD)
      • North America
      • South America
      • Europe
      • Middle East and Africa
      • Asia Pacific
  • North America anti-money laundering software market size estimates and forecast, by segments, 2018 – 2029
    • Main conclusions
    • By type (USD)
    • By business type (USD)
    • Per deployment (USD)
    • Per end user (USD)
      • Banks and Neobanks
      • Investment
      • Insurance
      • Investment
      • Crypto
      • Others (Health, Government, etc.)
    • By country (USD)
      • United States
      • Canada
      • Mexico
  • Europe anti-money laundering software market size estimates and forecasts, by segments, 2018-2029
    • Main conclusions
    • By type (USD)
    • By business type (USD)
    • Per deployment (USD)
    • Per end user (USD)
      • Banks and Neobanks
      • Investment
      • Insurance
      • Investment
      • Crypto
      • Others (Health, Government, etc.)
    • By country (USD)
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • Benelux
      • Nordic
      • The rest of Europe

TOC Continued…!

FAQs

What is the size of the anti money laundering software Market?

The anti-money laundering software market size was USD 1.65 billion in 2021.

How fast is the anti-money laundering software market growing?

Anti-Money Laundering Software Market to grow at a CAGR of 13.0% during the forecast period, 2022-2029

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