Global Anti-money Laundering Market

Anti-money Laundering Market by Components (Software and Services), Product Types (Compliance Management, Currency Transaction Reporting, Customer Identity Management, and Transaction Monitoring), Deployment (Cloud and On-premise), End-users (BFSI, Government, Healthcare, IT & Telecom, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-2714
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 202
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The global anti-money laundering market size was valued at USD 1.04 billion in 2020 and is projected to expand at a CAGR of 14.4% during the forecast period, 2021–2028. The growth of the market is attributed to the increase in money laundering incidences across various industries globally.

Global Anti-money Laundering Market summary

Money laundering incidences across the globe are constantly increasing year by year due to wide access to several digital platforms for financial transactions. Companies are using anti-money laundering software’s to protect the customer data. Compliance experts are also using the software to coordinate with government regulations and corporate policies. For instance, the US Government under its regulation called as Bank Secrecy Act provides several rules and legal measures to prevent money laundering associated crimes. The software uses data stored from multiple solutions are used to maintain financial transactions such as ERP systems and accounting software for decreasing money laundering activities. Anti-money laundering solutions delivers quality performance in monitoring, visualizing, and resolving money laundering incidents. The advantages of anti-money laundering solutions enlists improved risk protection, robust data analysis, improved efficiency, and faster processing in resolving these cases.

The COVID-19 pandemic has positively influenced the market growth owing to increased online sales coordinated with the rising use of online payment solutions. The growing non-cash payments via prepaid cards, internet payments, and mobile payments have opened new gateways for money laundering. The high speed at where transactions can be implemented with minimum interaction between the transaction initiator and the service provider, have intensified the vulnerability of these new payment methods to money laundering activities.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising adoption of anti-money laundering technology by companies to ensure transparency of their financial transaction and using software to protect the customer data. This is expected to boost the market growth during the forecast period.
  • Strict regulations imposed by various government organizations worldwide by aiming at abolished or combating money laundering incidents and counter terrorism funding. These factors are driving the market expansion.
  • Wide implementation of advanced technology and software for banks and rapid establishment of effective process to screen against the foreign-related assets control sanctions. This is projected to fuel the market growth in the coming years.
  • Increasing adoption of non-cash payments via prepaid cards, internet payments, have opened new gateways for money laundering in recent days. This is a key challenge that can hamper the market growth.
  • Rising awareness in people regarding money laundering is expected to fuel the market growth.

Scope of the Report                          

The report on the global anti-money laundering market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Anti-money Laundering Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Components (Software and Services), Product Types (Compliance Management, Currency Transaction Reporting, Customer Identity Management, and Transaction Monitoring), Deployment (Cloud and On-premise), and End-users (BFSI, Government, Healthcare, IT & Telecom, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Tata Consultancy Services Limited; NICE Actimize; Cognizant Technology Solutions Corporation; Trulioo; SAS Institute Inc.; ACI Worldwide, Inc.; Oracle Corporation; Fiserv, Inc.; BAE Systems; and Accenture

Market Segment Insights

Software segment is expected to grow at a rapid pace

Based on components, the global anti-money laundering market is bifurcated into software and services. The software segment is expected to grow at a rapid pace during the forecast period as the software plays a vital role in preventing and detecting financial crimes. However, the services segment is anticipated to account for a large market share during the forecast period due to various benefits such as advice regarding a range of regulatory issues, risk rating methodology consulting, tuning, system optimizing, risk assessment, and training.

Transaction monitoring segment is anticipated to grow significantly

In terms of products types, the market is categorized into compliance management, currency transaction reporting, customer identity management, and transaction monitoring. The transaction monitoring segment is anticipated to grow significantly in the coming years due to benefits such as increased automation and increased effectiveness. On the other hand, the customer identity management segment is projected to represent a large market share in the coming years owing to increased realization that the proper identification and verification of customer identity can help reduce the risk of money laundering.

Global Anti-money Laundering Market types

On-premise segment is projected to expand at a considerable CAGR

On the basis of deployment, the global anti-money laundering market is bifurcated into cloud and on-premise. The on-premise segment is projected to expand at a considerable CAGR during the forecast period as the demand for advanced solutions is high among various organizations where user credentials are critical for business operations. Meanwhile, the cloud segment is anticipated to account for a key market share during the forecast period as anti-money laundering solutions support organizations in decreasing the cost of establishing the required IT infrastructure.

BFSI segment is estimated to expand at a robust growth rate

In terms of end-users, the market is segregated into BFSI, government, healthcare, IT & telecom, and others. The BFSI segment is estimated to expand at a robust growth rate during the projected period owing to automation of financial systems and significant increase in online transactions. Furthermore, the IT & telecom segment is anticipated to register a high growth rate in the coming years due to increased focus on anti-money laundering compliance by IT organizations.

Global Anti-money Laundering Market end-users

North America is anticipated to constitute a key market share

In terms of regions, the global anti-money laundering market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to account for a key share of the market during the forecast period owing to presence of major market players in the region and the augmentation of inorganic strategies in the anti-money laundering vendors to execute artificial intelligence. The market of Asia Pacific, however, is anticipated to expand at a rapid growth pace during the forecast period due to various government initiatives and steep increase in money laundering activities & financial frauds in the region.

Global Anti-money Laundering Market region

Segments

The global anti-money laundering market has been segmented on the basis of

Components

  • Software
  • Services

Product Types

  • Compliance Management
  • Currency Transaction Reporting
  • Customer Identity Management
  • Transaction Monitoring

Deployment 

  • Cloud
  • On-premise

End-users

  • BFSI
  • Government
  • Healthcare
  • IT & Telecom
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Tata Consultancy Services Limited
  • NICE Actimize
  • Cognizant Technology Solutions Corporation
  • Trulioo
  • SAS Institute Inc.
  • ACI Worldwide, Inc.
  • Oracle Corporation
  • Fiserv, Inc.
  • BAE Systems
  • Accenture

Competitive Landscape

Key players competing in the global anti-money laundering market are Tata Consultancy Services Limited; NICE Actimize; Cognizant Technology Solutions Corporation; Trulioo; SAS Institute Inc.; ACI Worldwide, Inc.; Oracle Corporation; Fiserv, Inc.; BAE Systems; and Accenture. The main market players are continuously engaged in business development activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations. Tata Consultancy Services Ltd. introduced TCS BaNCS for Payments processing in Canada, which helped real-time payment processing in May 2019.

Global Anti-money Laundering Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Anti-money Laundering Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Anti-money Laundering Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Anti-money Laundering Market - Supply Chain
  4.5. Global Anti-money Laundering Market Forecast
     4.5.1. Anti-money Laundering Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Anti-money Laundering Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Anti-money Laundering Market Absolute $ Opportunity
5. Global Anti-money Laundering Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Anti-money Laundering Market Size and Volume Forecast by Types
     5.3.1. Compliance Management
     5.3.2. Currency Transaction Reporting
     5.3.3. Customer Identity Management
     5.3.4. Transaction Monitoring
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Anti-money Laundering Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Anti-money Laundering Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Anti-money Laundering Demand Share Forecast, 2019-2026
7. North America Anti-money Laundering Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Anti-money Laundering Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Anti-money Laundering Market Size and Volume Forecast by Types
     7.4.1. Compliance Management
     7.4.2. Currency Transaction Reporting
     7.4.3. Customer Identity Management
     7.4.4. Transaction Monitoring
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Anti-money Laundering Demand Share Forecast, 2019-2026
8. Latin America Anti-money Laundering Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Anti-money Laundering Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Anti-money Laundering Market Size and Volume Forecast by Types
     8.4.1. Compliance Management
     8.4.2. Currency Transaction Reporting
     8.4.3. Customer Identity Management
     8.4.4. Transaction Monitoring
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Anti-money Laundering Demand Share Forecast, 2019-2026
9. Europe Anti-money Laundering Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Anti-money Laundering Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Anti-money Laundering Market Size and Volume Forecast by Types
     9.4.1. Compliance Management
     9.4.2. Currency Transaction Reporting
     9.4.3. Customer Identity Management
     9.4.4. Transaction Monitoring
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Anti-money Laundering Demand Share Forecast, 2019-2026
10. Asia Pacific Anti-money Laundering Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Anti-money Laundering Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Anti-money Laundering Market Size and Volume Forecast by Types
     10.4.1. Compliance Management
     10.4.2. Currency Transaction Reporting
     10.4.3. Customer Identity Management
     10.4.4. Transaction Monitoring
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Anti-money Laundering Demand Share Forecast, 2019-2026
11. Middle East & Africa Anti-money Laundering Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Anti-money Laundering Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Anti-money Laundering Market Size and Volume Forecast by Types
     11.4.1. Compliance Management
     11.4.2. Currency Transaction Reporting
     11.4.3. Customer Identity Management
     11.4.4. Transaction Monitoring
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Anti-money Laundering Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Anti-money Laundering Market: Market Share Analysis
  12.2. Anti-money Laundering Distributors and Customers
  12.3. Anti-money Laundering Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Tata Consultancy Services Limited
     12.4.2. NICE Actimize
     12.4.3. Cognizant Technology Solutions Corporation
     12.4.4. Trulioo
     12.4.5. SAS Institute Inc.
     12.4.6. ACI Worldwide, Inc.
     12.4.7. Oracle Corporation

The global anti-money laundering market has been segmented on the basis of

Components

  • Software
  • Services

Product Types

  • Compliance Management
  • Currency Transaction Reporting
  • Customer Identity Management
  • Transaction Monitoring

Deployment 

  • Cloud
  • On-premise

End-users

  • BFSI
  • Government
  • Healthcare
  • IT & Telecom
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Tata Consultancy Services Limited
  • NICE Actimize
  • Cognizant Technology Solutions Corporation
  • Trulioo
  • SAS Institute Inc.
  • ACI Worldwide, Inc.
  • Oracle Corporation
  • Fiserv, Inc.
  • BAE Systems
  • Accenture

Key players competing in the global anti-money laundering market are Tata Consultancy Services Limited; NICE Actimize; Cognizant Technology Solutions Corporation; Trulioo; SAS Institute Inc.; ACI Worldwide, Inc.; Oracle Corporation; Fiserv, Inc.; BAE Systems; and Accenture. The main market players are continuously engaged in business development activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations. Tata Consultancy Services Ltd. introduced TCS BaNCS for Payments processing in Canada, which helped real-time payment processing in May 2019.

Global Anti-money Laundering Market keyplayers

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