Transaction Monitoring Market, Demographical MRFR Industry Trending Report Margins, Top Key Players At A CAGR Of According To Emerge Research Report Forecast By 2027
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Market Scenario:
The
worldwide Transaction
Monitoring Market is projected to achieve USD 19.32 billion
by the end of the year 2024 and is further estimated to hold a CAGR of 17.4%
for the analysis period.In any business application, the transaction monitoring
process is extensively used for administering, reviewing, and analyzing
transactions. Transaction monitoring is helpful for enterprises to monitor
transactions of the customers in real-time or on a regular basis. Through the
use of software, an enterprise can able to inspect suspicious behavior.
The
Global Transaction Monitoring Market growth relies upon the complying standards
and stringent regulations of the organization. In addition, the global market
has projected to grow on a large scale due to the rising advancements in
technologies such as artificial intelligence (AI), big data analytics, machine
learning (ML), and its application in the solution of transaction monitoring.
Moreover,
the global market has significant opportunities for the market players and
vendors due to the rising adoption of digitalization for payment transaction
processes. However, the current transaction monitoring marketmight experience
restraint due to the lack of professional or skilled resources.
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Competitive
Outlook:
The global transaction
monitoring industry is highly fragmented. This makes it fairly
competitive. Fiserv, Inc. (US),
SAS Institute, Inc. (US), IBM Corporation (US), FIS (US), Oracle Corporation
(US), Fair Isaac Corporation (US), NICE Systems Ltd (Israel), ACI Worldwide
(US), ACTICO GmbH (Germany), Bottomline Technologies (US), Beam Solutions, Inc.
(US), Infrasoft Technologies (India), Software AG (Germany), Experian
Information Solutions, Inc. (Ireland), and BAE Systems (UK).
Segmentation:
As
per the global transaction monitoring market report, the current market has
been segmented into organization size, component,vertical,application,
function, and deployment.
The
worldwide market has been categorized into different organizational sizes, such
as large enterprises and small and medium-sized enterprises (SMEs). Based on
the component segment, the global market has been classified into service and
solution. Depending on the vertical segment, the worldwide market has been
segmented into government and defense, banking, financial services and
insurance (BFSI), manufacturing, retail, IT and telecommunication, energy and
utilities, healthcare, and others.
In
terms of the application segment, the current market is divided into anti-money
laundering, fraud detection and prevention, customer identity management, and
compliance management. The global transaction monitoring markethas been
segregated based on two deployment modes as cloud and on-premise. Based on the
function segment, the current market has been classified intoKYC or customer
onboarding, dashboard and reporting, watch list screening, and case management.
Regional
Analysis:
Regionally,
the worldwide transaction monitoring markethas been divided into various
specific areas such as Asia-Pacific, North America, Europe, and the rest of the
world.
In
2018, North America gained the dominant position by holding the largest market
revenue-generating location. This is because of the rising Counter-Terrorist
Financing (CTF) activities, growing requirements for know your customer (KYC)
regulations, use of advanced analytics for offering proactive risk alerts, and
mitigating money laundering among the population of North America.
Apart
from this, the European market is projected to be the second-largest
revenue-generating region in the predicted periodbecause of the rising
transaction monitoring solution demand among the BFSI field. Moreover, the Asia
Pacific market is registered to be the fastest-growing market in the research
period because of the rising adoption of transaction monitoring solutions among
various industries like e-commerce, BFSI, and retail.
Industry News
In
October 2018, prominent market layers like Mphasis (India) and BAE Systems (UK)
did a partnership to offer better services to the financial services industry
along with offering leading fraud and money laundering detection capabilities.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued…
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