Transaction Monitoring Market expected to be $16.8 billion by 2023

Transaction Monitoring Market Transaction Monitoring Market

According to a new market research report Transaction Monitoring Market by Component, Application Area (AML, FDP, Compliance Management, and Customer Identity Management), Function, Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2023″, published by MarketsandMarkets™, the Transaction Monitoring Market size expected to grow from $8.3 billion in 2018 to $16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period.

The key factors expected to drive the transaction monitoring market include organizations’ need to manage KYC compliance, mitigate money laundering and CTF activities, and comply with stringent regulations.

Browse in-depth TOC on “Transaction Monitoring Market”
76- Tables
40- Figures
152 Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97024680

The solution segment to hold a higher market share in 2018

The transaction monitoring solution providers have added a layer to the existing financial security of organizations by offering the transaction monitoring solution. The transaction monitoring solution is a cloud-based and on-premises solution that monitors financial transactions in real time to identify suspicious transactions. The solution can be integrated with other financial security solutions such as Anti-Money Laundering (AML) and Fraud Detection and Prevention (FDP). The increasing financial crimes, such as financial terrorism, money laundering, corruption; and the rising pressure from stringent regulations and laws have triggered the solution segment to garner more revenue during the forecast period.

The cloud deployment mode is expected to grow at a higher CAGR during the forecast period

The transaction monitoring market by deployment mode has been segmented into on-premises and cloud. Cloud deployment is the fastest-growing deployment mode in the transaction monitoring market. Small and Medium-sized Enterprise (SMEs), in particular, have implemented the cloud deployment mode, as it enables them to focus on their core competencies, rather than investing their capital on network infrastructure. Organizations can avoid the costs related to hardware, software, storage, and technical staff by using cloud-based transaction monitoring solution. The security of financial transactions is the biggest priority, as it is the primary target of criminals. The cloud-based platform offers a unified way in the form of Software-as-a-Service (SaaS)-based transaction monitoring services to secure financial transactions and assist organizations in complying with General Data Protection Regulation (GDPR) and other data protection regulations, thus benefitting enterprises with tight budgets for security investments. The cloud-based transaction monitoring solution is easy to maintain and upgrade; as a result, it is driving the growth of the cloud deployment mode.

North America to account for the largest market size during the forecast period

North America is expected to account for the largest market size in the overall transaction monitoring market during the forecast period. The increase in the number of financial crimes; and reforms in regulatory compliances are some of the factors driving the adoption of transaction monitoring solution and services. The presence of many transaction monitoring vendors and the widespread awareness of transaction monitoring solution and services are expected to account for the region’s highest market share during the forecast period.

Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=97024680

The transaction monitoring market comprises major solution providers, such as NICE (Israel), Oracle (US), FICO (US), BAE Systems (UK), Fiserv (US), SAS (US), Experian (Ireland), FIS (US), ACI Worldwide (US), Refinitiv (UK), Software AG (Germany), ComplyAdvantage (US), Infrasoft Technologies (India), ACTICO (Germany), ComplianceWise (Netherlands), EastNets (UAE), Bottomline (US), Beam Solutions (US), IdentityMind (US), and CaseWare (Canada). The research study includes an in-depth competitive analysis of the key players in the transaction monitoring market, along with their company profiles, recent developments, and key market strategies.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/transaction-monitoring.asp

Matched content

Editor’s pick

Do NOT follow this link or you will be banned from the site!