The market size for global anti-money laundering (AML) solution is projected to reach at USD 5 billion by 2025. The factors such as growing strict mandates and compliance requirements, implementation of advanced analytics for the facilitating proactive threat alerts, along with growing adoption of digital payment methods, are responsible for the growth of anti-money laundering solution market growth across the globe.
The global market for the Anti-Money Laundering Solution is anticipated to develop at a compound annual growth rate (CAGR) of 16.2% throughout the course of the forecast, to reach US$ 5,866.51 million by 2027.
Moreover, increasing financial transactions within the enterprises backed with high-speed internet network availability and increasing concern over enterprise data security are responsible for the growth of anti-money laundering solution industry throughout the globe.
Anti-money laundering (AML) solutions enables banks as well as other financial organizations to track consumer behavior for suspected illicit monetary activities via automated processes. Various kinds of AML solutions such as currency transaction reporting, transaction monitoring, compliance management, and customer identity management are included within the anti-money laundering solution solution industry. Growth in the volume of global financial transactions has paved a way for deployment of anti-money laundering solution solutions across various industry domains, predominantly in BFSI and government & defense sector across different regions.
Anti-Money Laundering Solution Market Scope
| Metrics | Details |
| Base Year | 2020 |
| Historic Data | 2018-2019 |
| Forecast Period | 2021-2027 |
| Study Period | 2018-2027 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2027 | US$ 5,866.51 million |
| Growth Rate | CAGR of 16.2% during 2021-2027 |
| Segment Covered | By Deployment Type, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | ACI Worldwide, SAS Institute, Oracle Corporation, BAE Systems, Accenture, Verafin Inc., Safe Banking Systems LLC, Eastnets Holding Ltd., Ascent Technology Consulting, Opentext Corporation |
Key Segments of the Global Anti-Money Laundering Solution Market
Component Overview, 2018-2025 (USD Billion)
- Solutions
- Services
Technology Overview, 2018-2025 (USD Billion)
- Know Your Customer Systems
- Case Management
- Transaction Monitoring
- Auditing & Reporting
- Compliance Management
Application Overview, 2018-2025 (USD Billion)
- BFSI
- Telecom & IT
- Healthcare
- Government
- Manufacturing
- Retail
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global anti-money laundering solution market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global anti-money laundering solution market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the anti-money laundering solution industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, technology, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global anti-money laundering solution market. The report will benefit:
- Every stakeholder involved in the anti-money laundering solution market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global anti-money laundering solution market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global anti-money laundering solution market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The major contenders in the global anti money laundering solution market FICO, NICE, ACI Worldwide, BAE Systems, SAS Institute, LexisNexis, FIS Global, Experian, CaseWare, WorkFusion, Fiserv, TransUnion, Oracle, and more
The Global anti money laundering solution Market is Segmented on the basis of Technology,Application,Component,Regions.
The Application of the anti money laundering solution market BFSI, Telecom & IT, Healthcare, Manufacturing, Retail, Government, Others
The growing demand for monitoring, protection, and regulating access to the financial transactions owing to a rise in fraudulent activites and security breaches within various industry verticals is fueling the anti-money laundering solution market demand. On the contrary, evolving artificial intelligence (AI) technology in the anti-money laundering solution solutions and increased implementation of cloud-based solutions are projected to offer lucrative prospects for AML solution industry growth over the forecast period. Developments in the regulatory technology (RegTech) and financial technology (FinTech) are likely to provide new methods to restrict money laundering via digital currency. FinTech solutions including machine learning (ML) shall play an essential role in eradicating money laundering activities across several industries. The machine learning technology applies algorithms to analyze data and execute decisions and learn from those decisions. Hence, the ML solution can upgrade its code and facilitate users to make more precise decisions over time.
Component Segment
The global anti-money laundering solution market contains both solutions and service segment. The services segment is projected to surge at a significant growth rate over the forecast period. Most of the industry participants within the anti-money laundering solution market deliver professional services for managing the AML platform deployment. Also, these services ensure smoother and faster implementation, which enhances the value of business investments.
Technology Segment
Based on the technology segment, the market is bifurcated into know your customer systems, case management, transaction monitoring, auditing & reporting, and compliance management. In 2019, the transaction monitoring segment gathered the largest market revenue and it is anticipated to dominate the market throughout the forecast period. It offers a complete view of customer activities that include deposits, withdrawals, and transfers. Transaction monitoring delivers a control mechanism to avoid anti-money laundering solution actions in real-time. However, the case management segment is anticipated to grow at a substantial growth rate over the forecast period.
Application Segment
Based on the application, the market is segmented into BFSI, telecom & IT, healthcare, retail, manufacturing, government, and others. The market for BFSI is anticipated to possess the largest market share in 2019 since the financial companies today are predominantly developing to match their user needs. Moreover, the growing regulatory scrutiny coupled with enhanced customer satisfaction, as well as advantages such as risk management, and customized solutions are some of the factors responsible for the anti-money laundering solution demand.
The global anti-money laundering solution industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in the anti-money laundering solution applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the anti-money laundering solution market in North America.
The major players of the global anti-money laundering solution market are FICO, NICE, ACI Worldwide, BAE Systems, SAS Institute, LexisNexis, FIS Global, Experian, CaseWare, WorkFusion, Fiserv, TransUnion, Oracle, and more. The anti-money laundering solution market is fragmented with the existence of well-known global and domestic players across the globe.