The global anti-money laundering (AML) software market size is expected to reach USD 4.21 Billion at a steady CAGR of 14.8% in 2028, according to latest analysis by Emergen Research. Rapid market revenue growth is being driven by an increase in suspicious transactions and stringent regulatory compliance requirements for financial institutions. Advancements in financial services and technologies enable quick and effortless transaction of money across the globe. This exposes financial institutions to money laundering risk, thus creating an urgent need for anti-money laundering software.
Global Anti-Money Laundering Software Market has been developing at a rapid rate and is contributing significantly to the global economy in terms of revenue, growth rate, sales, market share, and size. The Global Anti-Money Laundering Software Market report is a comprehensive research document that provides valuable insights to the readers to understand the fundamentals of the Anti-Money Laundering Software market.
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Some Key Highlights From the Report
Increase in IT expenditure has encouraged companies to adopt advanced technologies and solutions. Improved compliance capabilities within institutions to address complex regulations and business environment is propelling the growth of anti-money laundering software market. IT companies across the globe are adopting risk management approaches to reduce fraud transactions.
North America accounted for the largest revenue share in 2020 due to the presence of large number of banks and adoption of advanced software by these organizations. Surge in digitalization of banks and usage of artificial intelligence, machine learning and cloud computing by these institutions is further driving the growth of the market.
Key players in the market include BAE Systems, Oracle, Fiserv Inc., SAS Institute Inc., ACI Worldwide, Actimize, LexisNexis, Cognizant Technology Solutions Corporation, Accenture, and Tata Consultancy Services Limited.
The report offers a comprehensive analysis of the competitive landscape of the market through extensive profiling of the key competitors. The section on the competitive analysis covers product portfolio, company overview, production and manufacturing capacity, financial standing, revenue and gross profit margins, and market position. It also sheds light on the mergers and acquisitions, joint ventures, collaborations, and partnerships occurring in the market.
Emergen Research has segmented the global anti-money laundering software market on the basis of type, deployment type, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Name Screening
- Transaction Monitoring
- Currency Transaction Reporting (CTR)
- Deployment Type Outlook (Revenue, USD Billion; 2018–2028)
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- IT & Telecom
- Defense & Government
- Transportation & Logistics
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Comprehensive Regional Analysis Covers the Following Regions:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Coverage of the Anti-Money Laundering Software Market:
- Insightful information regarding the global Anti-Money Laundering Software market
- Identification of growth in various segments and sub-segments of the Anti-Money Laundering Software market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations
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