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Anti-Money Laundering Market Size & Share to Show Highest Growth During Forecast Period 2020-2030
Market Overview
Anti-Money Laundering market to surpass USD 4.44 billion by 2031 from USD 1.19 billion in 2021 at a CAGR of 14.06% in the coming years, i.e., 2022-31.
Anti-Money Laundering (AML) aims to discourage criminals by making it more difficult for them to conceal their illicit funds. Money laundering is a technique used by criminals to hide their crimes and the proceeds of their crimes. Financial institutions are required under AML rules to monitor their clients' transactions and report any suspicious financial activity.
The major factors fueling the Anti-money laundering market include increasing stringent regulations and compliances for AML, increasing focus of financial institutions on digital payment-related issues, and the need to get a holistic view of data to curb financial crimes. Moreover, the increasing adoption of advanced analytics in AML and integration of AI, ML, and big data technologies in developing AML solutions would provide lucrative opportunities for AML Solution vendors.
The anti-Money Laundering market is segmented by Component Type into Solutions and Services. 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.
Anti-Money Laundering market is segmented by End-user into On-premises, Cloud-based. Over the projection period, the cloud sector is expected to increase at the fastest rate. Anti-money laundering solutions that are deployed in the cloud help companies save money by lowering the cost of creating the necessary IT infrastructure.
NICE Actimize
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Anti-Money Laundering market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The anti-Money Laundering market in North America held the largest market share in 2020. North America is expected to contribute the highest market share in terms of revenues during the forecast period too as it is a technologically advanced region with a high number of early adopters and the presence of major market players. Factors such as the proliferation of inorganic growth strategies among major AML vendors and innovations regarding the implementation of AI, and ML in AML solutions as well as increasing demand for cloud-based AML solutions are expected to drive the demand for the Anti-money laundering market.
Anti-Money Laundering market to surpass USD 4.44 billion by 2031 from USD 1.19 billion in 2021 at a CAGR of 14.06% in the coming years, i.e., 2022-31.
NICE Actimize, Tata Consultancy Services Limited, Trulioo, Cognizant Technology Solutions Corporation, ACI Worldwide, Inc., SAS Institute Inc., Fiserv, Inc., Oracle Corporation, BAE Systems, Accenture,
Cloud-based segment is anticipated to hold the Anti-Money Laundering Market share
Anti-Money Laundering (AML) aims to discourage criminals by making it more difficult for them to conceal their illicit funds. Money laundering is a technique used by criminals to hide their crimes and the proceeds of their crimes. Financial institutions are required under AML rules to monitor their clients' transactions and report on any suspicious financial activity.
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