AML Software Market to reach USD 2,717 Million by 2025 – Top Impacting Factors That Can Win the Industry Globally
The use of more robust systems combined with advanced technologies in tracking digital currency, machine learning, and connecting data have driven the market .
PORTLAND, PORTLAND, OR, UNITED STATE, September 21, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “AML Software Market to reach USD 2,717 Million by 2025 – Top Impacting Factors That Can Win the Industry Globally .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global anti-money laundering software market accounted for $879.00 million in 2017 and is projected to garner $2.72 billion by 2025, registering a CAGR of 15.2% from 2018 to 2025.
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The rise in money laundering cases and increase in budget allocation for improving IT infrastructure coupled with stringent regulations for anti-money laundering (AML) have boosted the growth of the global anti-money laundering software market. However, dearth of skilled AML professionals hampers the market growth. On the contrary, increase in adoption of artificial intelligence technologies and implementation of cloud-based solutions are expected to create lucrative opportunities in the near future.
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The global anti-money laundering software market is segmented into component, product, deployment type, and geography. Based on component, the market is divided into software and service. The service segment held the largest share in 2017, accounting for three-fourths of the market, due to rise in implementation of compliant and standardized AML operation worldwide. However, the software segment is projected to register the highest CAGR of 16.4% during the forecast period.
On the basis of product, the market is bifurcated into transaction monitoring, currency transaction reporting, customer identity management, and compliance management. The transaction monitoring segment is projected to manifest the fastest CAGR of 18.4% during the study period. However, the customer identity management segment dominated the market in 2017, contributing more than one-third of the market.
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The global anti-money laundering software market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2017, contributing more than one-third of the market, owing to the high adoption of AML solution supplemented by strict government regulations in the financial institution. However, the market across the Asia-Pacific region is estimated to register the fastest CAGR of 18.4% through 2025.
The AML software market report provides an in-depth analysis of the major market players such as Eastnets Holding Ltd., ACI Worldwide, Inc., NICE Actimize, Ascent Technology Consulting, Safe Banking Systems LLC, FICO TONBELLER, Thomson Reuters Corporation, Regulatory DataCorp, Inc., Truth Technologies, Inc., SAS Institute Inc., and Verafin Inc.
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Key Finding of the Anti-money Laundering Software Market :
• By deployment type, the cloud-based segment is expected to exhibit significant growth in the global anti-money laundering software during the forecast period
• In 2017, Europe accounted for the highest revenue among the other regions.
• Based on product, the customer identity management segment generated the highest revenue in 2017.
• By region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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