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The Worldwide Anti-money Laundering Industry is Expected to Reach $7.7 Billion by 2030

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The global anti-money laundering market is projected to reach USD 7.7 billion by 2030, driven by increasing instances of money laundering facilitated by virtual currencies and digital transactions. The report highlights that regulatory pressures and the COVID-19 pandemic have accelerated the demand for comprehensive AML solutions. Notable market leaders include BAE Systems, NICE Actimize, and ACI Worldwide. In 2021, the software segment held the largest revenue share, with the BFSI sector leading in end-use. Nevertheless, challenges like a shortage of AML experts and regulatory awareness may hinder growth.

Positive
  • Projected market growth to USD 7.7 billion by 2030.
  • Increased demand for AML solutions due to regulatory pressures.
  • COVID-19 has boosted digital payment transactions, enhancing market needs.
  • BFSI sector dominates market share, providing significant opportunities.
Negative
  • Lack of knowledgeable AML specialists could impede market growth.
  • Limited awareness of regulatory requirements may restrict adoption of AML solutions.

DUBLIN, Feb. 1, 2023 /PRNewswire/ --  The "Anti-money Laundering Market Share, Size, Trends, Industry Analysis Report, By Component; By Service; By End-use; By Region; Segment Forecast, 2022-2030" report has been added to  ResearchAndMarkets.com's offering. 

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The global anti-money laundering market size is expected to reach USD 7.7 billion by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global increase in instances of money laundering may be responsible for the market's optimistic growth potential. One of the main causes of the rising number of money laundering cases globally is the expanding use of virtual currencies and the increasing accessibility of the internet.

Additionally, Money fines, regulatory punishments, brand damage from non-compliance with rules, and the need to build a 360-degree perspective of data in the financial landscape are some of the causes that are fueling market expansion. However, the absence of highly knowledgeable AML specialists and a lack of awareness of governmental requirements and the use of AML solutions are anticipated to impede market expansion.

Furthermore, numerous banks around the world are reporting instances of money laundering, such as Danske Bank, which is making them subject to hefty fines. The rise in money laundering instances around the world can be attributed to expanding internet traffic, increased use of online banking services, and digital money transfers utilizing unknown payment systems.

As a result, governments have tightened up their anti-money laundering and digital payments regulations. For instance, in order to enhance security, regulate, and enforce compliance by financial institutions, the Reserve Bank of India strengthened its digital payment security rules in February 2021. These kinds of developments are driving up demand for AML solutions and driving up market revenue. In addition, on April 8, 2022, the Reserve Bank of India suggested recommending payment security controls and cyber resilience to payment system operators.

The COVID-19 epidemic has had a beneficial impact on the global anti-money laundering market because lockdown measures have been implemented in many nations, which has increased the volume of digital payments and the adoption of digital wallets as more individuals switch to digital platforms. Better AML solutions are consequently required more frequently, which has an effect on market expansion.

As networks gather more data, cybercrime, such as financial fraud, is on the rise. Data analytics technologies are being used increasingly frequently by banks and other financial institutions to enhance their security procedures. On the growth of the market, this is anticipated to have a considerable effect.

Anti-money Laundering Market Report Highlights

  • The software industry led the market in 2021, accounting for the largest revenue share. With the use of anti-money laundering software, organization may ensure that the judicial requirements imposed by governmental bodies are upheld.
  • In 2021, the transaction monitoring category dominated the market. The advantages that transaction monitoring software solutions offer, such as enhanced automation, simplicity in spotting suspicious conduct, and increased effectiveness, fuel demand for the market.
  • The BFSI sector dominated the market in 2021. Other subsectors of the BFSI market include digital banking, retail banking, commercial banking, and wealth management companies.
  • North American emerged as the largest regional market in 2021. Presence of key players and their innovative solutions have contributed to this growth.
  • The global players include NICE Actimize, Tata Consultancy Services Limited, ACI Worldwide, SAS Institute, Fiserv, Oracle Corporation Trulioo, and BAE Systems.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Anti-money Laundering Market Insights

4.1. Anti-money Laundering - Industry Snapshot

4.2. Anti-money Laundering Market Dynamics

4.2.1. Drivers and Opportunities

4.2.1.1. Increasing efforts to reduce money laundering cases

4.2.1.2. Growing volume of non-cash transactions, coupled with rapid developments in the fintech

4.2.2. Restraints and Challenges

4.2.2.1. Limited availability of data for risk assessment

4.3. Porter's Five Forces Analysis

4.4. PESTEL Analysis

4.5. Anti-money Laundering Market Industry Trends

4.6. Value Chain Analysis

4.7. COVID-19 Impact Analysis

5. Global Anti-money Laundering Market, by Component

5.1. Key Findings

5.2. Introduction

5.2.1. Global Anti-money Laundering Market, by Component, 2018 - 2030 (USD Billion)

5.3. Software

5.3.1. Global Anti-money Laundering Market, by Software, by Region, 2018 - 2030 (USD Billion)

5.4. Services

5.4.1. Global Anti-money Laundering Market, by Services, by Region, 2018 - 2030 (USD Billion)

6. Global Anti-money Laundering Market, by Product

6.1. Key Findings

6.2. Introduction

6.2.1. Global Anti-money Laundering Market, by Product, 2018 - 2030 (USD Billion)

6.3. Compliance Management

6.3.1. Global Anti-money Laundering Market, by Compliance Management, by Region, 2018 - 2030 (USD Billion)

6.4. Currency Transaction Reporting

6.4.1. Global Anti-money Laundering Market, by Currency Transaction Reporting, by Region, 2018 - 2030 (USD Billion)

6.5. Customer Identity Management

6.5.1. Global Anti-money Laundering Market, by Customer Identity Management, by Region, 2018 - 2030 (USD Billion)

6.6. Transaction Monitoring

6.6.1. Global Anti-money Laundering Market, by Transaction Monitoring, by Region, 2018 - 2030 (USD Billion)

7. Global Anti-money Laundering Market, by End-Use

7.1. Key Findings

7.2. Introduction

7.2.1. Global Anti-money Laundering Market, by End-Use, 2018 - 2030 (USD Billion)

7.3. BFSI

7.3.1. Global Anti-money Laundering Market, by BFSI, by Region, 2018 - 2030 (USD Billion)

7.4. Government

7.4.1. Global Anti-money Laundering Market, by Government, by Region, 2018 - 2030 (USD Billion)

7.5. Healthcare

7.5.1. Global Anti-money Laundering Market, by Healthcare, by Region, 2018 - 2030 (USD Billion)

7.6. IT & Telecom

7.6.1. Global Anti-money Laundering Market, by IT & Telecom, by Region, 2018 - 2030 (USD Billion)

7.7. Others

7.7.1. Global Other Anti-money Laundering Market, by Region, 2018 - 2030 (USD Billion)

8. Global Anti-money Laundering Market, by Geography

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis

9.1.1. Expansion

9.1.2. Acquisitions

9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. NICE Actimize

10.1.1. Company Overview

10.1.2. Financial Performance

10.1.3. Product Benchmarking

10.1.4. Recent Development

10.2. Tata Consultancy Services Limited

10.2.1. Company Overview

10.2.2. Financial Performance

10.2.3. Product Benchmarking

10.2.4. Recent Development

10.3. Trulioo

10.3.1. Company Overview

10.3.2. Financial Performance

10.3.3. Product Benchmarking

10.3.4. Recent Development

10.4. BAE Systems

10.4.1. Company Overview

10.4.2. Financial Performance

10.4.3. Product Benchmarking

10.4.4. Recent Development

10.5. Nice Systems

10.5.1. Company Overview

10.5.2. Financial Performance

10.5.3. Product Benchmarking

10.5.4. Recent Development

10.6. Fiserv

10.6.1. Company Overview

10.6.2. Financial Performance

10.6.3. Product Benchmarking

10.6.4. Recent Development

10.7. Cognizant Technology Solutions Corporation

10.7.1. Company Overview

10.7.2. Financial Performance

10.7.3. Product Benchmarking

10.7.4. Recent Development

10.8. ACI Worldwide

10.8.1. Company Overview

10.8.2. Financial Performance

10.8.3. Product Benchmarking

10.8.4. Recent Development

10.9. SAS Institute

10.9.1. Company Overview

10.9.2. Financial Performance

10.9.3. Product Benchmarking

10.9.4. Recent Development

10.10. Fiserv

10.10.1. Company Overview

10.10.2. Financial Performance

10.10.3. Product Benchmarking

10.10.4. Recent Development

10.11. Oracle Corporation

10.11.1. Company Overview

10.11.2. Financial Performance

10.11.3. Product Benchmarking

10.11.4. Recent Development

10.12. BAE Systems

10.12.1. Company Overview

10.12.2. Financial Performance

10.12.3. Product Benchmarking

10.12.4. Recent Development

10.13. LexisNexis Risk Solutions

10.13.1. Company Overview

10.13.2. Financial Performance

10.13.3. Product Benchmarking

10.13.4. Recent Development

10.14. CaseWare RCM

10.14.1. Company Overview

10.14.2. Financial Performance

10.14.3. Product Benchmarking

10.14.4. Recent Development

10.15. Accenture

10.15.1. Company Overview

10.15.2. Financial Performance

10.15.3. Product Benchmarking

10.15.4. Recent Development

For more information about this report visit https://www.researchandmarkets.com/r/weangh-money?w=5

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FAQ

What is the expected growth of the anti-money laundering market by 2030?

The anti-money laundering market is projected to reach USD 7.7 billion by 2030.

How has COVID-19 impacted the anti-money laundering market?

COVID-19 has increased digital payment transactions, leading to higher demand for AML solutions.

What are the main factors driving the anti-money laundering market?

Key drivers include the rise in money laundering cases, regulatory compliance needs, and increased digital transactions.

Which segments lead the anti-money laundering market?

The software segment led the market in 2021, with the BFSI sector dominating end-use.

Who are the leading companies in the anti-money laundering market?

Notable companies include BAE Systems, NICE Actimize, and ACI Worldwide.

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