Transaction Monitoring Market Recent Trends and Better Investment Opportunities
The Transaction Monitoring Market size is expected to grow from USD 8.3 billion in 2018 to USD 16.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. The key factors expected to drive the transaction monitoring market include organizations’ need to manage KYC compliance, mitigate money laundering and CTF activities, and comply with stringent regulations.
Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=97024680
The solution segment to hold a higher market share in 2018
The transaction monitoring solution providers have added a layer to the existing financial security of organizations by offering the transaction monitoring solution. The transaction monitoring solution is a cloud-based and on-premises solution that monitors financial transactions in real time to identify suspicious transactions. The solution can be integrated with other financial security solutions such as Anti-Money Laundering (AML) and Fraud Detection and Prevention (FDP). The increasing financial crimes, such as financial terrorism, money laundering, corruption; and the rising pressure from stringent regulations and laws have triggered the solution segment to garner more revenue during the forecast period.
The cloud deployment mode is expected to grow at a higher CAGR during the forecast period
The transaction monitoring market by deployment mode has been segmented into on-premises and cloud. Cloud deployment is the fastest-growing deployment mode in the transaction monitoring market. Small and Medium-sized Enterprise (SMEs), in particular, have implemented the cloud deployment mode, as it enables them to focus on their core competencies, rather than investing their capital on network infrastructure. Organizations can avoid the costs related to hardware, software, storage, and technical staff by using cloud-based transaction monitoring solution. The security of financial transactions is the biggest priority, as it is the primary target of criminals. The cloud-based platform offers a unified way in the form of Software-as-a-Service (SaaS)-based transaction monitoring services to secure financial transactions and assist organizations in complying with General Data Protection Regulation (GDPR) and other data protection regulations, thus benefitting enterprises with tight budgets for security investments. The cloud-based transaction monitoring solution is easy to maintain and upgrade; as a result, it is driving the growth of the cloud deployment mode.
North America to account for the largest market size during the forecast period
North America is expected to account for the largest market size in the overall transaction monitoring market during the forecast period. The increase in the number of financial crimes; and reforms in regulatory compliances are some of the factors driving the adoption of transaction monitoring solution and services. The presence of many transaction monitoring vendors and the widespread awareness of transaction monitoring solution and services are expected to account for the region’s highest market share during the forecast period.
Get More Info- https://www.marketsandmarkets.com/Market-Reports/transaction-monitoring-market-97024680.html
The transaction monitoring market comprises major solution providers, such as NICE (Israel), Oracle (US), FICO (US), BAE Systems (UK), Fiserv (US), SAS (US), Experian (Ireland), FIS (US), ACI Worldwide (US), Refinitiv (UK), Software AG (Germany), ComplyAdvantage (US), Infrasoft Technologies (India), ACTICO (Germany), ComplianceWise (Netherlands), EastNets (UAE), Bottomline (US), Beam Solutions (US), IdentityMind (US), and CaseWare (Canada). The research study includes an in-depth competitive analysis of the key players in the transaction monitoring market, along with their company profiles, recent developments, and key market strategies.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]