Report Ocean has released a research study titled “Anti Money Laundering Market 2023 Forecast to 2031 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Anti Money Laundering Market is valued approximately USD 0.87 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.60 % over the forecast period 2020-2027. Anti Money Laundering is a type of market where certain tools and technologies are used to prevent the criminals from obtaining illegal funds as their income through means of commercial or complex transactions. Failure of Anti Money Laundering policies with continuous increment in financial frauds, the introduction of Know Your Customer(KYC) policies by financial institutions and transaction monitoring has led the adoption of Anti Money Laundering across the forecast period.
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For Instance: as per United Nations Office on Drugs and Crime(UNODC) $800 billion to $2 trillion money is laundered globally which is 2-5 percent of global GDP. Also according to Indian government every year USD 18 billion are lost because of money laundering. However, high complexity of software and inability of detecting the early fraudulent activities impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing use of Artificial Intelligence, Machine Learning and Big Data technologies & demand for Anti Money Laundering solutions is likely to increase the market growth during the forecast period.
The regional analysis of global Anti Money Laundering market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the growing use of Anti money laundering softwares developed using Artificial intelligence and Machine Learning techniques. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising banking frauds, credit card frauds would create lucrative growth prospects for the Anti Money Laundering market across Asia-Pacific region.
Major market player included in this report are:
Tata Consultancy Services Limited
Cognizant Technology Solutions Corporation
ACI Worldwide, Inc
SAS Institute Inc.
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here’s a breakdown of key aspects in an in-depth analysis of the Anti-Money Laundering (AML) market.
- Regulatory Landscape: Understanding and analyzing the evolving regulatory frameworks globally and regionally (e.g., FATF guidelines, local compliance laws) that shape AML requirements. This includes how these regulations impact different sectors within the industry.
- Technology Adoption and Trends: Examining the adoption of advanced technologies (e.g., AI, machine learning, blockchain) within AML solutions. Analyzing how these technologies are reshaping the AML landscape and the level of adoption across various industry segments.
- Market Size and Growth: Conducting a thorough analysis of the AML market size, its historical growth, and forecasting future trends. This includes examining market segments by solutions (software, services), end-users (banks, fintech, insurance), and regions.
- Key Players and Competitive Landscape: Identifying major companies, both established and emerging, offering AML solutions. Analyzing their market share, product portfolios, strategic collaborations, and competitive strategies (innovation, pricing, expansion) to gain insights into industry competitiveness.
- Emerging Threats and Risks: Evaluating new and evolving money laundering threats and risks, including cyber threats, terrorist financing, and emerging technologies’ potential use in illegal financial activities. Understanding how these threats impact different sectors within the industry.
- Compliance Costs and Challenges: Analyzing the cost burden associated with AML compliance for different industry players. This includes evaluating challenges faced by organizations in meeting regulatory requirements, including resource allocation, technology investments, and operational complexities.
- Geopolitical and Economic Factors: Examining geopolitical tensions, economic fluctuations, and global events that impact AML regulations and enforcement. Understanding how these factors influence compliance requirements and enforcement strategies across regions.
- Customer Due Diligence (CDD) Practices: Investigating best practices and innovations in customer due diligence processes. Assessing how different industry sectors implement CDD measures and the effectiveness of these measures in detecting and preventing money laundering activities.
- Data Privacy and Security Concerns: Analyzing the intersection of AML practices with data privacy regulations and security concerns. Understanding the balance between effective AML measures and safeguarding sensitive customer information.
- Future Outlook and Industry Predictions: Providing insights into the future of the AML market, including anticipated technological advancements, regulatory changes, market trends, and the potential impact on industry players. This involves forecasting the direction of AML practices and how they might evolve over time.
The detailed segments and sub-segment of the market are explained below:
Currency Transaction Reporting
Customer Identity Management
By End Use:
IT & Telecom
Other End Use
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Rest of the World
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