The transaction monitoring market is predicted to increase at a CAGR of 10.4%, from $14.7 billion in 2022 to $39.5 billion by 2032.

The transaction monitoring market’s primary drivers are projected to be companies’ requirement to manage KYC compliance and reduce money laundering and Counter-Terrorist Financing (CTF) activities, as well as the usage of sophisticated transaction monitoring statistics to give proactive risk warnings.

The key factors driving the transaction monitoring market opportunities and transaction monitoring market future trends are the fast rise in digital payments and the growing occurrences of money laundering.
Furthermore, the growing demand for better management of knows your customer (KYC) compliance and counter-terrorist financing (CTF) actions are supporting transaction monitoring market growth.

Click Here To get a Sample Report (Including Full TOC, Table & Figures):-

https://www.factmr.com/connectus/sample?flag=S&rep_id=6167

Advanced Analytics To Detect High-Risk Operations Propels The Market For Transaction Monitoring

The quickly expanding regulatory framework to remove financial risks has prompted transaction monitoring market participants to embrace high-tech transactional monitoring software, which is favourably impacting transaction monitoring market opportunities.
Governments from many countries have launched a number of programmes to raise awareness about the benefits of these systems in a variety of industries. As a result, the transaction monitoring market has a more upbeat perspective.
As Small and Medium-sized Enterprises (SMEs) rapidly embrace the cost-effective cloud deployment option, the cloud deployment mode is predicted to develop at a higher CAGR, favourably impacting transaction monitoring market trends. This concept assists SMEs in avoiding the costs of hardware, software, storage, and technical staff.
To protect corporate applications, the cloud-based platform provides a unified approach in the form of Software-as-a-Service (SaaS)-based security services. It is especially advantageous for firms with limited security expenditures.

The United States, followed by Europe, is predicted to be the most lucrative location for sellers of transaction monitoring solutions and services.
The transaction monitoring system is gaining interest in the APAC region since it provides proactive security measures to avoid data breaches.
SMEs and major companies in the APAC area have become increasingly aware of the transaction monitoring process, and transaction monitoring adoption trends and have begun to use them in order to protect themselves from suspicious transactions and money laundering operations.

Need More information about Report Methodology? Click here:-

https://www.factmr.com/connectus/sample?flag=RM&rep_id=6167

KEY TAKEAWAYS:

• The services section from the component segment of the transaction monitoring market is expected to grow at a CAGR of 10.1% through 2032.
• Cloud is like to surge at a CAGR of 10% in the transaction monitoring market’s deployment mode sector through 2032.
• The transaction monitoring market in the United States is expected to reach US$ 13.7 billion by 2032, growing at a CAGR of 10.3% through 2032.
• The UK transaction monitoring market is estimated to be valued at US$ 1.7 billion by 2032, with a CAGR of 9.5% through 2032.
• With a CAGR of 9.7% through 2032, China’s transaction monitoring market is estimated to reach US$ 2.9 billion by 2032.
• The transaction monitoring market in Japan is estimated to be worth US$ 2.3 billion by 2032, growing at an 8.7% annual pace through 2032.
• South Korea is predicted to reach a transaction monitoring market size of US$ 1.4 billion by 2032, with a CAGR of 8.2% through 2032.

Key Segments

• By Component :
o Solution
o Services

• By Application Area :
o Anti-Money Laundering
o Customer Identity Management
o Fraud Detection and Prevention
o Compliance Management

• By Functions :
o Case Management
o KYC/Customer Onboarding
o Dashboard and Reporting
o Watch List Screening

• By Deployment Type :
o On-Premises
o Cloud

• By Organizational Size :
o Large Enterprises
o Small and Medium Sized Enterprises

• By Verticals :
o Banking, Financial Services, and Insurance
o Government and Defence
o IT and Telecom
o Retail
o Healthcare
o Energy and Utilities
o Manufacturing
o Others

• By Region :
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America

To get all-in insights on the regional landscape, buy now:-

https://www.factmr.com/checkout/6167

COMPETITIVE LANDSCAPE:
NICE, Oracle, FICO, BAE Systems, Fiserv, SAS, Experian, FIS, ACI Worldwide, Refinitiv, Software AG, ComplyAdvantage, Infrasoft Technologies, ACTICO, ComplianceWise, EastNets, Bottomline, Beam Solutions, IdentityMind, and CaseWare are among the major legacy players that provide transaction monitoring solutions globally.

To increase their products in the transaction monitoring market future trends, these vendors have used a variety of organic and inorganic growth techniques, such as new product releases, partnerships, and collaborations.
To extend their influence in the transaction monitoring market trends, these vendors have used a variety of organic and inorganic growth tactics.

Recent Development in Transaction monitoring Market:

Expansions:

• As it moves into the financial crime software sector, exchange company Nasdaq announced the use of AI technology to assist retail and commercial banks in automating AML investigations. The business expects that the method would make it easier and less expensive for banks and other financial institutions to go through the flood of warnings generated by bank transaction monitoring systems that indicate potential cases of money laundering.

Product Launches:

• Huobi Group established an in-house transaction intelligence technology in April 2020 to combat criminal activities across its cryptocurrency exchanges. The new Star Atlas tool will automatically freeze accounts suspected of participating in questionable activities while a compliance officer investigates the matter. It will aid Huobi’s exchanges in real-time targeting of anomalous behaviours and undesirable transactions.

For More Insights
https://www.globenewswire.com/news-release/2022/05/25/2450370/0/en/Global-Nerve-Monitoring-Devices-Market-to-surpass-US-2-Billion-by-2032-Neurosurgery-to-be-Top-Application-Category-finds-Fact-MR.html

 

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed . Our sales offices in United States and Dublin, Ireland. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

21st floor , 136 Sejong-daero,
Seoul,100-768
South Korea
Phone: +1 (628) 251-1583
Email: [email protected]

Blog URL:https://blog.factmr.com/

Tags: Transaction Monitoring Demand, Transaction Monitoring Services, Transaction Monitoring Solutions Demand

See Campaign: https://www.factmr.com/industry/technology

Contact Information:

+1 (628) 251-1583

Tags:
iCN Internal Distribution, Research Newswire, English