The global Anti-Money Laundering (AML) software market size reached USD 1.63 Billion in 2021 and is expected to register a revenue CAGR of 15.1% during the forecast period, according to latest analysis by Emergen Research. Increasing number of money laundering cases and rapid growth of Information Technology (IT) industry are projected to support market revenue growth between 2022 and 2030. In addition, increasing need to authenticate users’ identity through Know Your Customer (KYC) technology will drive revenue growth. Know your customer is the process of verifying a customer’s identity. The objective of KYC is to prevent criminal elements from using bank accounts for Anti-money laundering purposes. Identity fraud is a serious issue in the banking sector. A better identity management method is required to alleviate this problem. KYC is the best solution to the identity fraud issue. It will reduce the risks by ensuring suspicious elements do not participate in legitimate financial institutions, which will prevent financial crimes such as money laundering and corruption. As a result, adoption of KYC technology will minimize money laundering risks. KYC technology reports any suspicious activity to the regulators.
The latest market study, Anti-Money Laundering Software Market blends in qualitative and quantitative research techniques to present vital data on the competitive landscape for the period of 2024 –2033 .This research allows the business owners/individuals/ stakeholders to collect decisive information about market segmentation based on product category, usage and sale volume across the various geographical regions. Business stakeholders can prepare effective expansion plan by using the statistics on market share, size and the growth rate discussed in the report. Unmatched information on past, present and upcoming market trends covered in the study offer lucidity on the future projection of the industry.
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How will this Report Benefit you?
An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Anti-Money Laundering Software market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Anti-Money Laundering Software. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.
Effect of COVID-19 on the global market for Anti-Money Laundering Software
The COVID-19 pandemic had a significant negative influence on the market for Anti-Money Laundering Software in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Anti-Money Laundering Software were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Anti-Money Laundering Software in 2020. Additionally, demand for Anti-Money Laundering Software decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Anti-Money Laundering Software market : Competitive Landscape
The prominent players operating in the Anti-Money Laundering Software market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Anti-Money Laundering Software market .
Oracle Corporation, BAE Systems PLC, Tata Consultancy Services Limited (Tata Sons Private Limited), Fiserv, Inc., Fidelity National Information Services, Inc., Experian PLC, SAS Institute, Inc., ACI Worldwide, Inc., CaseWare International, Inc., and AML Partners LLC
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the Global Anti-Money Laundering Software Market Research Report provides forecasts and future market projections, equipping businesses with the necessary tools to plan ahead. The report’s forward-looking approach, backed by data-driven predictions, ensures that companies can navigate the evolving market landscape with confidence. Through a combination of current market analysis and future outlook, the report serves as an invaluable resource for businesses aiming for long-term success.
Based on types, the market is segmented into
- Component Outlook (Revenue, USD Billion; 2019–2030)
- Software
- Services
- Deployment Type Outlook (Revenue, USD Billion; 2019–2030)
- On-premise
- On-cloud
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Transaction Monitoring
- Currency Transaction Reporting
- Customer Identity Management
- Compliance Management
- Others
Regional Outlook :
The growth of the Anti-Money Laundering Software Market on a global scale is influenced by region-specific dynamics. North America and Europe lead with technological innovation and solid regulatory environments, though supply chain challenges and compliance issues are present. In the Asia-Pacific region, especially in China and India, rapid urbanization and heightened consumer demand are fueling expansion. Meanwhile, emerging markets in Latin America, the Middle East, and Africa present growth potential, driven by economic reform and investment, yet face significant obstacles in the form of political instability and underdeveloped infrastructure.
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