NEW YORK, March 10, 2023 /PRNewswire/ -- According to Technavio, the global anti-money laundering software market size is estimated to grow by USD 2,763.04 million from 2022 to 2027. The market is estimated to grow at a CAGR of 15.01% during the forecast period. Moreover, the growth momentum will accelerate. The increasing need for risk management is driving the market growth, although factors such as the high cost of implementation may impede the market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Anti-money laundering software market – Market dynamics
Key factor driving market growth

• The increasing need for risk management is driving market growth.

• Predictive models provide deeper insight into compliance risks.

• Advanced features, such as automated investigation, help in the efficient management of risks.

• AML software helps financial analysts and investigators analyze the risk of a transaction and take appropriate action.

• Suspicious activity detection, watch list filtering, alert investigation, case management, and regulatory reporting are other features that help banks in managing risks.

• The availability of such features will increase the adoption of AML software, which will propel the growth of the market during the forecast period.

Major challenges hindering the market growth

• The high cost of implementation is challenging market growth.

• AML software deployment is expensive and time-consuming.

• It also needs additional infrastructure, complex programming, and the extra time and cost to ensure data integration and data quality.

• AML software vendors also charge additional fees for software updates, and some vendors compel end-users to purchase updates by refusing to provide technical support for old versions.

• Thus, the high cost associated with the deployment of AML software will hinder the growth of the AML software market during the forecast period.

Insights on market drivers & challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

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Anti-money laundering software market - Segmentation assessment
Segment overview
Technavio has segmented the market based on deployment (on-premises and cloud-based) and component (software and services).

• The on-premises segment will account for a significant share of the market growth during the forecast period. In this model, the software is purchased and installed on the user's server and maintained by IT specialists. The use of on-premises AML software is increasing among large complex financial firms. Therefore, this segment is expected to grow during the forecast period.

Geography overview
Based on geography, the global anti-money laundering software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global anti-money laundering software market.

• APAC is estimated to account for 31% of the growth of the global market during the forecast period. North America is another region offering significant growth opportunities to vendors. Most financial enterprises in North America use AML solutions to comply with financial regulatory requirements. A rise in the use of mobile devices for personal and professional purposes has increased the adoption of AML software solutions, which will positively impact the market.

Insights on the market contribution of various segments, including country-wise and region-wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a sample report

Anti-money laundering software market - Leading trends influencing the market 

• The increasing demand for know-your-customer (KYC) analytics is an emerging trend in the market.

• Financial services firms across the world are adopting AML and KYC analytics, with the increasing cost of compliance, the risk of non-compliance, and challenges related to acquiring and retaining the right customers.

• Banks and financial institutions face multiple challenges in compiling the data to build strong relationships, improve returns, and reduce risk.

• KYC analytics can reduce the complex and expensive burden of compliance.

• AML software with KYC analytics enables banks to properly document, understand, and actively manage the flow of data.

• Such factors will support the growth of the AML software market during the forecast period.

What are the key data covered in this anti-money laundering software market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the anti-money laundering software market between 2023 and 2027

• Precise estimation of the size of the anti-money laundering software market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the anti-money laundering software market across North America, Europe, APAC, Middle East and Africa, and South America

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of anti-money laundering software market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global anti-money laundering software market 2017 - 2021

• 4.2 By Deployment Segment Analysis 2017 - 2021

• 4.3 By Component Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Deployment

• 6.1 Market segments

• 6.2 Comparison by Deployment

• 6.3 On-premises - Market size and forecast 2022-2027

• 6.4 Cloud-based - Market size and forecast 2022-2027

• 6.5 Market opportunity by Deployment

7 Market Segmentation by Component

• 7.1 Market segments

• 7.2 Comparison by Component

• 7.3 Software - Market size and forecast 2022-2027

• 7.4 Services - Market size and forecast 2022-2027

• 7.5 Market opportunity by Component

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 APAC - Market size and forecast 2022-2027

• 9.6 Middle East and Africa - Market size and forecast 2022-2027

• 9.7 South America - Market size and forecast 2022-2027

• 9.8 US - Market size and forecast 2022-2027

• 9.9 China - Market size and forecast 2022-2027

• 9.10 India - Market size and forecast 2022-2027

• 9.11 Germany - Market size and forecast 2022-2027

• 9.12 UK - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 ACI Worldwide Inc.

• 12.4 Acuity Knowledge Partner

• 12.5 Ascent

• 12.6 BAE Systems Plc

• 12.7 EastNets

• 12.8 Exiger

• 12.9 Fair Isaac Corp.

• 12.10 Moodys Corp.

• 12.11 NICE Ltd.

• 12.12 Open Text Corp.

• 12.13 Oracle Corp.

• 12.14 SAS Institute Inc.

• 12.15 Thomson Reuters Corp.

• 12.16 Truth Technologies Inc.

• 12.17 Verafin Inc.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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