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Transaction Monitoring Market – OverviewThe upsurge in transactions has raised the need for monitoring of these activities to ensure reduced discrepancy. Reports that investigate the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is presumed to exploit a CAGR of 17.4 % to gain USD 19.32 billion in revenue by 2024.
The surge in customer transactions on a daily basis or in real time are the primary factors adding to the progress of the market for transaction monitoring. The demand to achieve proactive risk alerting is motivating the transaction monitoring market. Also, the incorporation of machine learning and artificial intelligence are expected to boost the transaction monitoring market.
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Segmental Analysis
The evaluation of the segments the transaction monitoring market has been carried out on the basis of organization size, component, deployment, vertical, application, and region. On the basis of component, the transaction monitoring market has been split into service and solution. By deployment mode, the transaction monitoring market has been segmented into cloud and on-premise. By organization size, the market for transaction monitoring has been segmented into medium-sized, small enterprises (SMEs) and large enterprises. By application, the Transaction Monitoring Market has been segmented into anti-money laundering, compliance management, fraud detection and prevention, and customer identity management. By function, the market for transaction monitoring has been segmented into case management, dashboard and reporting, watch list screening, and KYC/customer onboarding. Based on the vertical, the transaction monitoring market has been segmented into government and defense, banking, healthcare, IT and telecommunication, retail, energy and utilities, financial services and insurance (BFSI), manufacturing and others.
Key Players:
The key players in the global transaction monitoring market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Fiserv, Inc. (US), SAS Institute, Inc. (US), IBM Corporation (US), FIS (US), Oracle Corporation (US), Fair Isaac Corporation (US), NICE Systems Ltd (Israel), ACI Worldwide (US), ACTICO GmbH (Germany), Bottomline Technologies (US), Beam Solutions, Inc. (US), Infrasoft Technologies (India), Software AG (Germany), Experian Information Solutions, Inc. (Ireland), and BAE Systems (UK). The key strategies adopted by most of the players are partnerships, agreements, collaborations, and the launch of solutions.
Detailed Regional Analysis
The regional analysis of the transaction monitoring market comprises of regions such as Europe, North America, Asia Pacific, and the rest of the world. The North American region was the major revenue-producing region for the transaction monitoring solution and service vendors in 2018. Mexico, The US, and Canada are the principal nations in the region. The increasing need of enterprises to observe the know your customer (KYC) regulations and lessen money laundering and counter-terrorist financing (CTF) activities combined with the use of progressive analytics to deliver proactive risk alerts are the factors which are anticipated to push the market in North American region. The BFSI and retail & e-commerce verticals are anticipated to be the principal verticals that are using transaction monitoring solutions in the North American regions. The European region is reviewed to be the subsequent principal market during the forecast period owing to the growing demand for transaction monitoring solutions in the BFSI sector. The Asia-Pacific region is likely to be the fastest rising market in the transaction monitoring market through the forecast period. The market in Asia Pacific is achieving traction, as a growing number of enterprises are implementing these solutions across the BFSI and retail & e-commerce industries.
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Intended Audience
• Transaction Monitoring vendors
• Systems integrators
• Cloud services providers
• Government organizations
• Distributors and Value-Added Resellers (VARs)
• Investors and venture capitalists
• Market consultants
• Compliance officers
• Regulators
• System Integrators
• Chief Financial Officers
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 88917828
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