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.
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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.
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