Anti-money Laundering Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : ICT

The global Anti-money Laundering market size is expected to be worth around US$ 4.19 billion by 2030, according to a new report by Vision Research Reports

The global Anti-money Laundering market size was valued at US$ 1.08 billion in 2020 and is anticipated to grow at a CAGR of 15.10% during forecast period 2021 to 2030.

Growth Factors

The growth can be attributed to the growing volume of non-cash transactions, coupled with a rise in technological developments in the fintech sector. In recent years, banks have increased their IT expenditure toward the adoption of advanced solutions and technologies to improve the security of their services and products.

The rapid developments in artificial intelligence, big data, machine learning, and other technologies are creating new opportunities for the market. The rising risk of financial crimes and fraudulent transactions, arising from factors such as the vulnerabilities inherent to digitization and automation, is compelling financial institutions to employ technologies such as machine learning for identifying suspicious transactions on a real-time basis. As a result, various companies are making efforts to deploy machine learning capabilities in anti money laundering solutions. For instance, in November 2020, Computer Services, Inc., a provider of end-to-end regtech and fintech solutions, announced a partnership with Featurespace, an enterprise financial crime prevention software provider. Through this partnership, the companies launched the WatchDOG AML, which uses machine learning capabilities to identify suspicious activities on a real-time basis.

Government bodies across the world are making efforts to promote awareness about anti money laundering regulations. For instance, in 2019, the New Zealand government spent USD 1.083 million on Keep Our Money Clean, an anti money laundering campaign. Through this campaign, the government tried to create public awareness regarding the legislative changes in anti money laundering acts to enable related businesses to educate their customers about new obligations.

The COVID-19 pandemic is anticipated to impact the market growth favorably in near future. The pandemic has led to an increase in the use of mobile-based payment solutions, remote work, and online sales, which are some of the major factors driving the demand for anti money laundering solutions globally. Financial Action Task Force an intergovernmental organization has encouraged financial institutions to provide risk-based flexibility in the implementation of anti money laundering in response to the effects of the pandemic.

Report Highlights

The software segment dominated the market in 2020 and accounted for more than 60% share of the global revenue. Anti-money laundering software helps organizations ensure that the legal requirements framed by government bodies are met. Additionally, the software plays a vital role in preventing and detecting financial crimes. An anti-money laundering software is also capable of speeding up the customer onboarding process.

The services segment is anticipated to register the highest growth over the forecast period. Anti-money laundering services include risk rating methodology consulting, advice regarding a range of regulatory issues, system optimizing and tuning, risk assessment, and training. Training is provided to employees to make them understand the various anti-money laundering laws applicable across various industries.

The transaction monitoring segment dominated the market in 2020 and accounted for more than a 30% share of the global revenue. Anti-money transaction monitoring software enables financial institutes to conduct customer transactions on a real-time basis. Transaction monitoring software solutions also provide benefits such as increased automation, ease in identifying suspicious behavior, and increased effectiveness, which drive the demand for the segment. A range of products available in the market include features such as blacklist screening, customer profiling, and sanctions screening.

The customer identity management segment is expected to register the highest growth over the forecast period. Customer identity management solutions prevent banks from being used by criminal elements for money laundering. These solutions also help financial institutions understand their customer's financial dealings to manage the risk prudently and serve them better. The increased realization that the proper identification and verification of customer identity can help reduce the risk of money laundering is expected to drive the demand for the segment in the near future.

The on-premise segment dominated the market in 2020 and accounted for more than 50.0% share of the global revenue. The on-premise deployment of anti-money laundering solutions provides organizations full control over applications, platforms, data, and systems, which can be easy managed by the organization's in-house IT staff. At the same time, in the organizations where user credentials are critical for business operations, the demand for the segment is high. The organizations use on-premise anti-money laundering to keep them protected from malicious threats.

The cloud segment is anticipated to register the highest growth over the forecast period. The cloud-based deployment of anti-money laundering solutions helps organizations in reducing the cost of establishing the required IT infrastructure. Moreover, other benefits of cloud-based deployment, including flexibility and a steady improvement in security features, are expected to drive the adoption of cloud solutions in the near future. The use of security features such as multi-factor authentication to access stored data grants additional security from the risk of laundering.

The BFSI segment dominated the market in 2020 and accounted for more than 33% share of the global revenue. The BFSI segment includes retail banking, commercial banking, digital banking, wealth management institutes, among others. Banks are facing a continuously increasing risk of fraud and financial crimes stemming from digitization and automation of financial systems and a significant increase in online transactions. Anti-money laundering regulations define measures that banks must take into consideration to prevent and detect financial crimes, which creates the demand for anti-money laundering solutions across the BFSI segment.

The IT and telecom segment is anticipated to register significant growth over the forecast period. The increased focus on anti-money laundering compliance by IT organizations is expected to drive market growth. IT companies across the world are adopting risk management approaches to reduce fraudulent transactions. The reduction in fraudulent transactions, in turn, is helping companies provide secured and enhanced services to their clients.

The North American regional market dominated the anti-money laundering market in 2020 and accounted for over 46% share of global revenue. The growth can be attributed to the presence of major market players in the region. The presence of a large number of banks is also expected to drive the adoption of anti-money laundering solutions in the region in the near future. Simultaneously, the proliferation of inorganic strategies among the anti-money laundering vendors to implement is expected to drive market growth.

Europe is expected to emerge as the fastest-growing regional market over the forecast period. Continuous enhancements in regulatory norms governing the BFSA sector in Europe is expected to drive market growth. The trade-based money laundering norms implemented in Europe include the General Data Protection Regulation, Payment Card Industry Data Security Standard, and AMLD5 the 5th Money Laundering Directive. At the same time, a steep increase in money laundering activities and financial frauds is driving the need for anti-money laundering solutions in the region.

Key Players

  • NICE Actimize

  • Tata Consultancy Services Limited

  • Trulioo

  • Cognizant Technology Solutions Corporation

  • ACI Worldwide, Inc.

  • SAS Institute Inc.

  • Fiserv, Inc.

  • Oracle Corporation

  • BAE Systems

  • Accenture

Market Segmentation

  • Component Outlook 

    • Software

    • Services

  • Product Type Outlook 

    • Compliance Management

    • Currency Transaction Reporting

    • Customer Identity Management

    • Transaction Monitoring

  • Deployment Outlook 

    • Cloud

    • On-premise

  • End-use Outlook 

    • BFSI

    • Government

    • Healthcare

    • IT & Telecom

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

The Anti-money Laundering market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Anti-money Laundering market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Anti-money Laundering market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Anti-money Laundering market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Anti-money Laundering market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Anti-money Laundering capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Anti-money Laundering by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Anti-money Laundering market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Anti-money Laundering market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Anti-money Laundering market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Anti-money Laundering industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Anti-money Laundering market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Anti-money Laundering market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Anti-money Laundering market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Anti-money Laundering market. These factors have benefited the growth of the global market for Anti-money Laundering. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Anti-money Laundering. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Anti-money Laundering are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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