-- Increase in digitization of payment transactions, surge in need for mitigating money laundering, managing KYC compliance and CTF activities, growing identification of high-risk activities through advance analytics, and high demand for organizations to comply with stringent regulatory agreements fuel the growth of the global transaction monitoring software market. On the other hand, lack of transaction monitoring and AML professionals, and difficulties in managing cross-border as well as multi-jurisdictional AML-compliance curtail down the growth to some extent. However, integration of advance technology, and rise in the deployment of transaction monitoring system by SME's are projected to usher in a number of opportunities in the near future.
The global transaction monitoring software market was estimated at $7.95 billion in 2018 and is expected to hit $25.41 billion by 2026, registering a CAGR of 15.70% from 2019 to 2026.
Based on deployment model, the on-premise segment accounted for nearly three-fifths of the global transaction monitoring software market revenue in 2018, and is projected to retain its dominance by the end of the year 2026. Enhanced security features provided by on-premise model drive the growth of the segment. At the same time, the cloud-based segment would register the fastest CAGR of 17.40% throughout the study period. It's remotely accessible from anywhere around the world which, in turn, boosts the growth of the segment.
Based on component, the solution segment contributed to nearly three-fourths of the global transaction monitoring software market share in 2018, and is expected to dominate throughout the forecast period. Increase in adoption of this software by several bank and financial institutions, and stringent government regulations for data security are expected to drive the growth of the segment. The service segment, on the other hand, is projected to register the fastest CAGR of 15.70% during 2019–2026. This is due to surge in the adoption of different services in various organizations.
FREE | Request Sample is Available at: https://www.alliedmarketresearch.com/request-sample/6011
Based on geography, North America held the largest share in 2018, generating nearly two-fifths of the global transaction monitoring software market. This is because North American countries are expected to adopt transaction monitoring software at a high rate to bring great improvements in operational efficiency in IT infrastructure. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 17.50% by 2026. This is due to rise in digitalization in emerging economies such as China and India.
Profiling Key Players: ACI Worldwide Inc., BAE Systems, Fair Isaac Corporation, Fiserv Inc., FIS, Nice Ltd., Oracle Corporation, SAS Institute, Software AG, and Thomson Reuters Corporation.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6011
Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 1-800-792-5285
Website: https://www.alliedmarketresearch.com/
Release ID: 89031830
Google
RSS