Artificial Intelligence In Regtech Market Report 2024 (Global Edition)

Global Artificial Intelligence In Regtech Market Report 2024 Market Size Split by Type (Solutions, Services), by Application (Regulatory Compliance, Risk Management, Financial Crime, Identity Manageme...

Artificial Intelligence In Regtech Market Report Description

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Competitive Landscape of the Artificial Intelligence In Regtech Market

In the fiercely competitive landscape of the Artificial Intelligence in RegTech market, industry players engage in vigorous innovation and strategic initiatives to gain a competitive edge.

Artificial Intelligence In Regtech Industry News

• April 2023: Hummingbird RegTech released its own software to help compliance industry professionals combat financial crime by utilizing its unique technology stack. The app provided resources to support compliance professionals in their daily work and ensure adherence to the most recent regulations.

(Source: www.businesswire.com/news/home/20230405005723/en/Hummingbird-Introduces-Modular-Apps-for-Compliance-Investigations)

Top Companies Market Share in Artificial Intelligence In Regtech Industry: (In no particular order of Rank)

• AQMetrics
• AlgoDynamix
• Sysxnet Limited
• KYC Exchange Net AG
• Ayasdi
• Inc.
• TRUNOMI.
• IdentityMind Global
• Open Source Investor Services
• White & Case LLP
• CORLYTICS
• FundRecs.com
• CheckRecipient Limited
• Silverfish
• Trulioo
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American Artificial Intelligence In Regtech Market share was 40% of the total market

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 500.48 million in 2023 and will grow at a compound annual growth rate (CAGR) of 35.0% from 2023 to 2030. The regional analysis highlights North America's preeminence in the adoption of AI-driven RegTech solutions, fuelled by a technologically mature financial sector and a robust regulatory environment. One noteworthy segment driving this dominance is the application of AI for risk management, enabling financial institutions to proactively address compliance challenges. In conclusion, North America's substantial market share underscores its leadership in shaping the trajectory of global AI in the RegTech market, reflecting the region's proactive approach to regulatory compliance and its pivotal role in driving innovation within the financial technology landscape.

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2Million out of which Asia-Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 287.78 million in 2023 and will grow at a compound annual growth rate (CAGR) of 38.8% from 2023 to 2030. The regional analysis underscores Asia-Pacific's increasing adoption of AI-driven RegTech solutions, propelled by a burgeoning financial sector, digital transformation initiatives, and a regulatory push towards technological integration. A notable segment contributing to this market share is the application of AI for identity management, addressing the region's unique challenges in identity verification and fraud prevention. In conclusion, Asia-Pacific's substantial market share growth exemplifies its pivotal role in driving the expansion of the global AI in RegTech market, reflecting the region's commitment to embracing cutting-edge technologies and redefining regulatory compliance within the financial landscape.

The current report Scope analyzes Artificial Intelligence In Regtech Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Asia Pacific Artificial Intelligence In Regtech

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2 Million out of which Asia-Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 287.78 million in 2023 and will grow at a compound annual growth rate (CAGR) of 38.8% from 2023 to 2030. The regional analysis underscores Asia-Pacific's increasing adoption of AI-driven RegTech solutions, propelled by a burgeoning financial sector, digital transformation initiatives, and a regulatory push towards technological integration. A notable segment contributing to this market share is the application of AI for identity management, addressing the region's unique challenges in identity verification and fraud prevention. In conclusion, Asia-Pacific's substantial market share growth exemplifies its pivotal role in driving the expansion of the global AI in RegTech market, reflecting the region's commitment to embracing cutting-edge technologies and redefining regulatory compliance within the financial landscape.

• According to Cognitive Market Research, the China Artificial Intelligence In Regtech market size was valued at USD 129.50 million in 2023 and is projected to grow at a CAGR of 38.3% during the forecast period. This is majorly due to the increasing adoption of AI-driven RegTech solutions, and inclusivity also plays a key role in sustaining market growth and demand. 
• The India Artificial Intelligence In Regtech market had a market share of USD 34.53 million in 2023 and is projected to grow at a CAGR of 40.6% during the forecast period. This is due to the redefining of regulatory compliance within the financial landscape. 
• The Japan Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 37.3% during the forecast period, with a market size of USD 39.71 million in 2023.
• The South Korea Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 37.9% during the forecast period with a market size of USD 28.78 million in 2023.
• The Australia Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 38.5% during the forecast period with a market size of USD 14.96 million in 2023.
• The South East Asia Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 39.8% during the forecast period with a market size of USD 19.86 million in 2023.
• The Rest of the Asia Pacific Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 38.6% during the forecast period with a market size of USD 20.43 million in 2023.

North America Artificial Intelligence In Regtech

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 500.48 million in 2023 and will grow at a compound annual growth rate (CAGR) of 35.0% from 2023 to 2030. The regional analysis highlights North America's preeminence in the adoption of AI-driven RegTech solutions, fuelled by a technologically mature financial sector and a robust regulatory environment. One noteworthy segment driving this dominance is the application of AI for risk management, enabling financial institutions to proactively address compliance challenges. In conclusion, North America's substantial market share underscores its leadership in shaping the trajectory of global AI in the RegTech market, reflecting the region's proactive approach to regulatory compliance and its pivotal role in driving innovation within the financial technology landscape.

• According to Cognitive Market Research, the US had a major share in the Artificial Intelligence In Regtech market with a market size of USD 394.88 million in 2023 and is projected to grow at a CAGR of 34.8% during the forecast period. This is majorly due to the growing technologically mature financial sector and a robust regulatory environment, and inclusivity also plays a key role in sustaining market growth and demand. 
• The Canada Artificial Intelligence In Regtech market had a market share of USD 60.06 million in 2023 and is projected to grow at a CAGR of 35.8% during the forecast period. This is due to the increased regulatory compliance and its pivotal role in driving innovation within the financial technology landscape. 
• The Mexico Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 35.5% during the forecast period with a market size of USD 45.54 million in 2023.

Europe Artificial Intelligence In Regtech

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 375.36 million in 2023 and will grow at a compound annual growth rate (CAGR) of 35.3% from 2023 to 2030. The regional analysis underscores Europe's leadership in adopting AI-driven RegTech solutions, driven by a sophisticated financial ecosystem, stringent regulatory frameworks, and a pronounced commitment to technological innovation. A notable segment contributing to this market share is the application of AI for regulatory compliance, addressing the region's complex and evolving regulatory landscape. In conclusion, Europe's significant market share solidifies its pivotal role in shaping the trajectory of the global AI in RegTech market, highlighting the region's proactive stance in adopting advanced technologies to redefine regulatory practices within the financial landscape. 

• According to Cognitive Market Research, the Germany Artificial Intelligence In Regtech market size was valued at USD 74.32 million in 2023 and is projected to grow at a CAGR of 35.5% during the forecast period. This is majorly due to the growing demand for adopting AI-driven RegTech solutions, and inclusivity also play key roles in sustaining market growth and demand. 
• The United Kingdom Artificial Intelligence In Regtechs market had a market share of USD 63.06 million in 2023 and is projected to grow at a CAGR of 36.1% during the forecast period. This is due to the sophisticated financial ecosystem, stringent regulatory frameworks, and a pronounced commitment to technological innovation. 
• The France Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 34.5% during the forecast period with a market size of USD 34.53 million in 2023.
• The Italy Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 34.7% during the forecast period with a market size of USD 32.28 million in 2023.
• The RussiaArtificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 34.3% during the forecast period with a market size of USD 58.18 million in 2023.
• The Spain Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 34.4% during the forecast period with a market size of USD 30.78 million in 2023.
• The Portugal Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 35.1% during the forecast period with a market size of USD 7.88 million in 2023.
• The Luxembourg Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 35.4% during the forecast period with a market size of USD 11.64 million in 2023.
• The Greece Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 35.6% during the forecast period with a market size of USD 4.50 million in 2023.
• The Rest of Europe Artificial Intelligence in Regtechs market is projected to witness growth at a CAGR of 34.0% during the forecast period with a market size of USD 58.18 million in 2023.

South America Artificial Intelligence In Regtech

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2 Million out of which the Latin America market of more than 5% of the global revenue with a market size of USD 62.56 million in 2023 and will grow at a compound annual growth rate (CAGR) of 36.2% from 2023 to 2030. The regional analysis unveils Latin America's growing engagement with AI driven RegTech solutions, driven by an expanding financial landscape and an increasing recognition of the importance of regulatory compliance. Notably, the application of AI for financial crime detection emerges as a key segment contributing to this market share, addressing the region's imperative for robust measures against fraud and money laundering. In conclusion, Latin America's market share signifies its rising role in adopting cutting-edge AI solutions for regulatory compliance, reflecting a proactive stance in addressing financial challenges and fostering a secure financial ecosystem.

• According to Cognitive Market Research, the Brazil Artificial Intelligence In Regtech market size was valued at USD 26.78 million in 2023 and is projected to grow at a CAGR of 36.8% during the forecast period. This is majorly due to the expanding financial landscape and an increasing recognition of the importance of regulatory compliance, and inclusivity also play key roles in sustaining market growth and demand. 
• The Argentina Artificial Intelligence In Regtech market had a market share of USD 10.51 million in 2023 and is projected to grow at a CAGR of 37.1% during the forecast period. This is due to the rising role in adopting cutting-edge AI solutions for regulatory compliance. 
• The Colombia Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 36.0% during the forecast period with a market size of USD 5.57 million in 2023.
• The Peru Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 36.4% during the forecast period with a market size of USD 5.13 million in 2023.
• The Chile Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 36.5% during the forecast period with a market size of USD 4.50 million in 2023.
• The Rest of Latin America's Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 35.3% during the forecast period with a market size of USD 10.07 million in 2023.

Middle East and Africa Artificial Intelligence In Regtech

According to Cognitive Market Research, the global Artificial Intelligence In Regtech market size was estimated at USD 1251251.2 Million out of which the Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 25.02 million in 2023 and will grow at a compound annual growth rate (CAGR) of 36.5% from 2023 to 2030. The regional analysis sheds light on the unique landscape of the Middle East and Africa, characterized by a burgeoning interest in adopting AI-driven RegTech solutions. With the financial sector experiencing rapid growth and technological transformation, the application of AI for compliance support stands out as a significant segment driving this market share. In conclusion, the modest yet notable market share of the Middle East and Africa underlines the region's evolving stance toward embracing innovative technologies to navigate regulatory complexities, reflecting a growing momentum in leveraging AI for enhancing financial regulatory practices within this dynamic and emerging market.

• According to Cognitive Market Research, the GCC Countries Artificial Intelligence In Regtech market size was valued at USD 10.71 million in 2023 and is projected to grow at a CAGR of 37.3% during the forecast period. This is majorly due to the burgeoning interest in adopting AI-driven RegTech solutions, and inclusivity also plays a key role in sustaining market growth and demand. 
• The South Africa Artificial Intelligence In Regtech market had a market share of USD 3.95 million in 2023 and is projected to grow at a CAGR of 37.5% during the forecast period. This is due to the increased financial regulatory practices. 
• The Egypt Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 36.8% during the forecast period, with a market size of USD 2.63 million in 2023.
• The Turkey Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 36.0% during the forecast period with a market size of USD 2.15 million in 2023.
• The Nigeria Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 35.6% during the forecast period, with a market size of USD 2.63 million in 2023.
• The Rest of the MEA Artificial Intelligence In Regtech market is projected to witness growth at a CAGR of 35.5% during the forecast period with a market size of USD 2.95 million in 2023.

Artificial Intelligence In Regtech Market Analysis

Artificial Intelligence In Regtech Type Segment Analysis

According to Cognitive Market Research,the dominant category in the Artificial Intelligence in RegTech market is Solutions. AI-driven RegTech solutions play a pivotal role in automating and optimizing regulatory compliance processes within the financial sector. These solutions encompass a wide range of functionalities, including real-time monitoring, predictive analytics, and automated reporting, offering financial institutions comprehensive tools to enhance efficiency and accuracy in meeting regulatory requirements. The dominance of solutions signifies the industry's reliance on specialized AI technologies to navigate the intricate regulatory landscape, ensuring compliance, risk management, and operational resilience.

The fastest-growing category in the AI in RegTech market is Services. With the continuous evolution of AI technologies and the dynamic nature of regulatory requirements, the demand for expert services to facilitate seamless integration and ongoing support is rapidly increasing. These services include consultancy, customization, training, and maintenance, ensuring that organizations harness the full potential of AI-driven RegTech solutions. The fastest growth in services reflects the industry's recognition of the need for specialized expertise to navigate the complexities of AI integration, providing a holistic approach to regulatory compliance within the financial landscape.

• Solutions
• Services

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Artificial Intelligence In Regtech Industry. Request a Free Sample PDF!

Artificial Intelligence In Regtech Application Segment Analysis

According to Cognitive Market Research, the dominant category in the Artificial Intelligence in RegTech market is Regulatory Compliance Solutions. AI applications for regulatory compliance streamline the intricate process of ensuring adherence to evolving financial regulations. These solutions leverage advanced algorithms to interpret and implement regulatory changes, automate compliance workflows, and monitor transactions for potential violations. The dominance of regulatory compliance solutions underscores their critical role in helping financial institutions navigate complex regulatory landscapes efficiently, reducing the risk of non-compliance, and ensuring the integrity of financial operations in an ever-changing regulatory environment.

The fastest-growing category in the AI in RegTech market is Financial Crime Detection. With the rise in sophisticated financial crimes, including fraud and money laundering, AI applications play a pivotal role in proactively identifying and mitigating such risks. These solutions employ machine learning and data analytics to detect patterns indicative of fraudulent activities, providing real-time alerts and supporting investigative processes. The fastest growth in financial crime detection reflects the increasing emphasis on leveraging AI technologies to fortify financial institutions against evolving threats, enhancing overall risk management, and safeguarding the integrity of the financial system.

• Regulatory Compliance
• Risk Management
• Financial Crime
• Identity Management
• Compliance Support
• Analytics
• Automated Trading
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Artificial Intelligence In Regtech Operation Model Segment Analysis

According to Cognitive Market Research, the dominant category in the Artificial Intelligence in RegTech market is Supervised Learning Models. In the realm of regulatory compliance and risk management, supervised learning excels as a powerful tool. This approach involves training the AI system with labeled data, enabling it to make predictions or decisions based on patterns recognized during the training phase. Supervised learning is widely adopted in RegTech applications, as it facilitates the precise categorization of data, such as identifying compliance breaches or assessing risks. The dominance of supervised learning models highlights their effectiveness in providing financial institutions with accurate and reliable insights, contributing to enhanced decision-making processes and regulatory adherence.

The fastest-growing category in the AI in RegTech market is Unsupervised Learning Models. This approach involves training the AI system with unlabelled data, allowing it to identify patterns and relationships autonomously. In the context of RegTech, unsupervised learning is gaining traction for its ability to uncover hidden insights and anomalies within vast datasets, aiding in the detection of emerging risks or irregularities in financial transactions. The fastest growth in unsupervised learning models underscores the market's recognition of the value in exploring unstructured data to uncover novel insights and enhance the adaptability of RegTech solutions to evolving regulatory challenges.

• Unsupervised Learning
• Supervised Learning
• Reinforced Learning
• Semi-Supervised Learning

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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