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Anti-Money Laundering Software Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 135 Pages
SKU # FOB19224156

Description

Anti-Money Laundering Software Market



Growth Factors of Anti-Money Laundering Software Market

The anti-money laundering software market size was valued at USD 2.04 billion in 2023, and the market is now projected to grow from USD 2.28 billion in 2024 to USD 5.91 billion by 2032, exhibiting a CAGR of 12.6% during the forecast period of 2024-2032.

The COVID-19 outbreak disrupted various sectors of the economy leading to a remarkable rise in identity fraud for several financial service organizations through ransomware, synthetic identity, mobile device attacks and many other ways. This again resulted in severe monetary loss, temporarily negatively impacting the development of the anti-money laundering software market growth. With the years passing, the market received a boost in funding investments that enabled the firms to introduce innovations that would help mitigate the impacts of money laundering by providing advanced technology.

The increasing market for cryptocurrency is associated with increasing crime rates, especially in money laundering where over USD 2 billion had been hacked in 2023. In response to these factors, new regulations emerged to counteract them, thus fueling demand for anti-money laundering software market share. This means some of the positive impacts attributed to AML tools are in preventing various financial crimes which would otherwise lead to a cleaner environment for the cryptos. With the growth of the financial market, comes the demand for its security from AML threats.

Moreover, real-time transaction monitoring in AML software allows for identifying and mitigating financial crimes by focusing on a customer’s activity. The second way that RegTech automation supports is also strengthened by the reduction in data collection and analysis for financial institutions. RegTech requires the adoption of AI to enhance the customer onboarding process and overall effectiveness. Both these trends collectively put pressure on buying AML software across the financial industry.

Comprehensive Analysis of Anti-Money Laundering Software Market

The global anti-money laundering software market in information and communication technology is growing exponentially because of its market segmentation. This market expansion notably offers comprehensive regional studies that provide the supply and demand factors shaping the value chain for hardware & software IT services. These segmentations are systematically divided into types, enterprise types, deployment and end users. The types include, Standalone and Integrated. The enterprise types include, SMEs and Large Enterprise. The deployment include, On-premise and Cloud. In the end, the end-users include, Banks and Neobank, Insurance, Investment, Crypto and Others.

North America dominated the market share in 2023 and is expected to have the same trend throughout the forecast period. It will grow in the future based on advancements in technology, the huge number of end-users and the rising trend in the strategies implemented by leading the anti-money laundering software players. The use of AML software is expected to grow within the Banking, Financial Services, and Insurance (BFSI) sector in the U.S. hence creating a probable demand for AML software.

The leading strategic market players depend on developing industrial prospects for the information & communication technology market and setting industry norms. These players include, Oracle Corporation (U.S.), ACI Worldwide (U.S.), Eastnets (U.S.), AML Partners (U.S.), Alessa Inc. (Canada), Acuant (U.S.), Feedzai (U.S.), SAS Institute Inc. (U.S.), Ondato (U.K.) and Sanction Scanner (U.K.). These market players offer a level-playing competitive environment.

In November 2022, Sanction Scanner partnered with Coinfirm which is a blockchain investigation analytics firm that launched the compliance knowledge and traditional financial worlds. This partnership will guarantee that customers can scan and monitor transactions facilitated by their firms in both cryptocurrency and sanctioned money.

Segmentation Table

Global Insulated Packaging Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 12.6% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Type, Enterprise type, Deployment, End- User and Region

By Type
  • Standalone
    • Integrated
    By Enterprise Type
  • SMEs
    • Large Enterprise
    By Deployment
  • On-premise
    • Cloud
    By End-user
  • Banks and Neobank
    • Insurance
    • Investment
    • Crypto
    • Others (Healthcare, Government, etc.)
    By Region
  • North America (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)
    • United States (By Deployment)
    • Canada (By Deployment)
    • Mexico (By Deployment)
    • South America (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)
    • Brazil (By Deployment)
    • Argentina (By Deployment)
    • Rest of South America
    • Europe (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)
    • United Kingdom (By Deployment)
    • Germany (By Deployment)
    • France (By Deployment)
    • Italy (By Deployment)
    • Spain (By Deployment)
    • Russia (By Deployment)
    • Benelux (By Deployment)
    • Nordics (By Deployment)
    • Rest of Europe
    • Middle East & Africa (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)
    • Turkey (By Deployment)
    • Israel (By Deployment)
    • GCC (By Deployment)
    • North Africa (By Deployment)
    • South Africa (By Deployment)
    • Rest of Middle East & Africa
    • Asia Pacific (By Type, By Enterprise Type, By Deployment, By End-user, and By Country)
    • China (By Deployment)
    • India (By Deployment)
    • Japan (By Deployment)
    • South Korea (By Deployment)
    • ASEAN (By Deployment)
    • Oceania (By Deployment)
    • Rest of Asia Pacific


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    Table of Contents

    135 Pages
    1. Introduction
    1.1. Definition, By Segment
    1.2. Research Methodology/Approach
    1.3. Data Sources
    2. Executive Summary
    3. Market Dynamics
    3.1. Macro and Micro Economic Indicators
    3.2. Drivers, Restraints, Opportunities and Trends
    4. Competition Landscape
    4.1. Business Strategies Adopted by Key Players
    4.2. Consolidated SWOT Analysis of Key Players
    4.3. Global Anti-Money Laundering Software Key Players Market Share/Ranking, 2023
    5. Global Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    5.1. Key Findings
    5.2. By Type (USD)
    5.2.1. Standalone
    5.2.2. Integrated
    5.3. By Enterprise Type (USD)
    5.3.1. SMEs
    5.3.2. Large Enterprise
    5.4. By Deployment (USD)
    5.4.1. On-premise
    5.4.2. Cloud
    5.5. By End-user (USD)
    5.5.1. Banks and Neobank
    5.5.2. Insurance
    5.5.3. Investment
    5.5.4. Crypto
    5.5.5. Others (Healthcare, Government, etc.)
    5.6. By Region (USD)
    5.6.1. North America
    5.6.2. South America
    5.6.3. Europe
    5.6.4. Middle East & Africa
    5.6.5. Asia Pacific
    6. North America Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    6.1. Key Findings
    6.2. By Type (USD)
    6.2.1. Standalone
    6.2.2. Integrated
    6.3. By Enterprise Type (USD)
    6.3.1. SMEs
    6.3.2. Large Enterprise
    6.4. By Deployment (USD)
    6.4.1. On-premise
    6.4.2. Cloud
    6.5. By End-user (USD)
    6.5.1. Banks and Neobank
    6.5.2. Insurance
    6.5.3. Investment
    6.5.4. Crypto
    6.5.5. Others (Healthcare, Government, etc.)
    6.6. By Country (USD)
    6.6.1. United States
    6.6.1.1. By Deployment
    6.6.2. Canada
    6.6.2.1. By Deployment
    6.6.3. Mexico
    6.6.3.1. By Deployment
    7. South America Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    7.1. Key Findings
    7.2. By Type (USD)
    7.2.1. Standalone
    7.2.2. Integrated
    7.3. By Enterprise Type (USD)
    7.3.1. SMEs
    7.3.2. Large Enterprise
    7.4. By Deployment (USD)
    7.4.1. On-premise
    7.4.2. Cloud
    7.5. By End-user (USD)
    7.5.1. Banks and Neobank
    7.5.2. Insurance
    7.5.3. Investment
    7.5.4. Crypto
    7.5.5. Others (Healthcare, Government, etc.)
    7.6. By Country (USD)
    7.6.1. Brazil
    7.6.1.1. By Deployment
    7.6.2. Argentina
    7.6.2.1. By Deployment
    7.6.3. Rest of South America
    8. Europe Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    8.1. Key Findings
    8.2. By Type (USD)
    8.2.1. Standalone
    8.2.2. Integrated
    8.3. By Enterprise Type (USD)
    8.3.1. SMEs
    8.3.2. Large Enterprise
    8.4. By Deployment (USD)
    8.4.1. On-premise
    8.4.2. Cloud
    8.5. By End-user (USD)
    8.5.1. Banks and Neobank
    8.5.2. Insurance
    8.5.3. Investment
    8.5.4. Crypto
    8.5.5. Others (Healthcare, Government, etc.)
    8.6. By Country (USD)
    8.6.1. United Kingdom
    8.6.1.1. By Deployment
    8.6.2. Germany
    8.6.2.1. By Deployment
    8.6.3. France
    8.6.3.1. By Deployment
    8.6.4. Italy
    8.6.4.1. By Deployment
    8.6.5. Spain
    8.6.5.1. By Deployment
    8.6.6. Russia
    8.6.6.1. By Deployment
    8.6.7. Benelux
    8.6.7.1. By Deployment
    8.6.8. Nordics
    8.6.8.1. By Deployment
    8.6.9. Rest of Europe
    9. Middle East & Africa Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    9.1. Key Findings
    9.2. By Type (USD)
    9.2.1. Standalone
    9.2.2. Integrated
    9.3. By Enterprise Type (USD)
    9.3.1. SMEs
    9.3.2. Large Enterprise
    9.4. By Deployment (USD)
    9.4.1. On-premise
    9.4.2. Cloud
    9.5. By End-user (USD)
    9.5.1. Banks and Neobank
    9.5.2. Insurance
    9.5.3. Investment
    9.5.4. Crypto
    9.5.5. Others (Healthcare, Government, etc.)
    9.6. By Country (USD)
    9.6.1. Turkey
    9.6.1.1. By Deployment
    9.6.2. Israel
    9.6.2.1. By Deployment
    9.6.3. GCC
    9.6.3.1. By Deployment
    9.6.4. North Africa
    9.6.4.1. By Deployment
    9.6.5. South Africa
    9.6.5.1. By Deployment
    9.6.6. Rest of MEA
    10. Asia Pacific Anti-Money Laundering Software Market Size Estimates and Forecasts, By Segments, 2019-2032
    10.1. Key Findings
    10.2. By Type (USD)
    10.2.1. Standalone
    10.2.2. Integrated
    10.3. By Enterprise Type (USD)
    10.3.1. SMEs
    10.3.2. Large Enterprise
    10.4. By Deployment (USD)
    10.4.1. On-premise
    10.4.2. Cloud
    10.5. By End-user (USD)
    10.5.1. Banks and Neobank
    10.5.2. Insurance
    10.5.3. Investment
    10.5.4. Crypto
    10.5.5. Others (Healthcare, Government, etc.)
    10.6. By Country (USD)
    10.6.1. China
    10.6.1.1. By Deployment
    10.6.2. India
    10.6.2.1. By Deployment
    10.6.3. Japan
    10.6.3.1. By Deployment
    10.6.4. South Korea
    10.6.4.1. By Deployment
    10.6.5. ASEAN
    10.6.5.1. By Deployment
    10.6.6. Oceania
    10.6.6.1. By Deployment
    10.6.7. Rest of Asia Pacific
    11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
    11.1. Oracle Corporation
    11.1.1. Overview
    11.1.1.1. Key Management
    11.1.1.2. Headquarters
    11.1.1.3. Offerings/Business Segments
    11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    11.1.2.1. Employee Size
    11.1.2.2. Past and Current Revenue
    11.1.2.3. Geographical Share
    11.1.2.4. Business Segment Share
    11.1.2.5. Recent Developments
    11.2. ACI Worldwide
    11.2.1. Overview
    11.2.1.1. Key Management
    11.2.1.2. Headquarters
    11.2.1.3. Offerings/Business Segments
    11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    11.2.2.1. Employee Size
    11.2.2.2. Past and Current Revenue
    11.2.2.3. Geographical Share
    11.2.2.4. Business Segment Share
    11.2.2.5. Recent Developments
    11.3. Eastnets
    11.3.1. Overview
    11.3.1.1. Key Management
    11.3.1.2. Headquarters
    11.3.1.3. Offerings/Business Segments
    11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    11.3.2.1. Employee Size
    11.3.2.2. Past and Current Revenue
    11.3.2.3. Geographical Share
    11.3.2.4. Business Segment Share
    11.3.2.5. Recent Developments
    11.4. AML Partners
    11.4.1. Overview
    11.4.1.1. Key Management
    11.4.1.2. Headquarters
    11.4.1.3. Offerings/Business Segments
    11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    11.4.2.1. Employee Size
    11.4.2.2. Past and Current Revenue
    11.4.2.3. Geographical Share
    11.4.2.4. Business Segment Share
    11.4.2.5. Recent Developments
    11.5. Alessa Inc.
    11.5.1. Overview
    11.5.1.1. Key Management
    11.5.1.2. Headquarters
    11.5.1.3. Offerings/Business Segments
    11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    11.5.2.1. Employee Size
    11.5.2.2. Past and Current Revenue
    11.5.2.3. Geographical Share
    11.5.2.4. Business Segment Share
    11.5.2.5. Recent Developments
    11.6. Acuant
    11.6.1. Overview
    11.6.1.1. Key Management
    11.6.1.2. Headquarters
    11.6.1.3. Offerings/Business Segments
    11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    11.6.2.1. Employee Size
    11.6.2.2. Past and Current Revenue
    11.6.2.3. Geographical Share
    11.6.2.4. Business Segment Share
    11.6.2.5. Recent Developments
    11.7. Feedzai
    11.7.1. Overview
    11.7.1.1. Key Management
    11.7.1.2. Headquarters
    11.7.1.3. Offerings/Business Segments
    11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    11.7.2.1. Employee Size
    11.7.2.2. Past and Current Revenue
    11.7.2.3. Geographical Share
    11.7.2.4. Business Segment Share
    11.7.2.5. Recent Developments
    11.8. SAS Institute Inc.
    11.8.1. Overview
    11.8.1.1. Key Management
    11.8.1.2. Headquarters
    11.8.1.3. Offerings/Business Segments
    11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    11.8.2.1. Employee Size
    11.8.2.2. Past and Current Revenue
    11.8.2.3. Geographical Share
    11.8.2.4. Business Segment Share
    11.8.2.5. Recent Developments
    11.9. Ondato
    11.9.1. Overview
    11.9.1.1. Key Management
    11.9.1.2. Headquarters
    11.9.1.3. Offerings/Business Segments
    11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    11.9.2.1. Employee Size
    11.9.2.2. Past and Current Revenue
    11.9.2.3. Geographical Share
    11.9.2.4. Business Segment Share
    11.9.2.5. Recent Developments
    11.10. Sanction Scanner
    11.10.1. Overview
    11.10.1.1. Key Management
    11.10.1.2. Headquarters
    11.10.1.3. Offerings/Business Segments
    11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    11.10.2.1. Employee Size
    11.10.2.2. Past and Current Revenue
    11.10.2.3. Geographical Share
    11.10.2.4. Business Segment Share
    11.10.2.5. Recent Developments
    12. Key Takeaways

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