Anti Money Laundering Market

Analysis from GMI Research finds that the Anti Money Laundering Market earned revenues of USD 9 billion in 2022 and estimates to touch USD 27.9 billion in 2030 will grow at a high double-digit CAGR 15.2%

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Major Anti Money Laundering Market Drivers

One of the key drivers that is contributing to the growth of the global anti-money laundering market size includes the increasing money laundering instances around the globe. Numerous organizations use anti-money laundering software for the detection of suspicious transactions and customer data. The anti-money laundering software uses data gathered from various solutions that are used to manage financial transactions including accounting software and ERP systems, for decreasing money laundering activities. The anti-money laundering solutions deliver users high performance in visualizing, monitoring, and resolving money laundering incidents. This type of solution offers various advantages such as enhances risk protection, faster protection, and improved efficiency in resolving these cases.

Various financial institutions are projected with certain rules, framed by the government bodies is further driving the market growth. The Bank Secrecy Act of the U.S. needs banks to develop an effective compliance program and build customer due diligence programs and systems. Moreover, the banks are also projected to build an effective “suspicious activity reporting and monitoring” process to screen against the Office of Foreign Assets Control sanctions.

Restraint in the Anti-Money Laundering Market

However, the rising complexities of AML solutions which restrict the ability of early detection of fraudulent activities, is hampering the growth of the anti-money laundering market share over the coming years.

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Deployment Mode – Segment Analysis

Based on the deployment mode, the on-premises segment is projected to grow at a higher CAGR during the forecast period. The on-premises deployment model is considered a traditional method where solutions are introduced and operated from customers’ in-house servers. The ability of the on-premises solution to allow companies to fully control platforms, applications, systems, and data that can be handled by the IT staff is a key driver that is boosting the segment growth. The organizations where user credentials are important for business operations have further surged the usage of on-premise deployment mode.

 End User – Segment Analysis

Based on the end user, the banking and financials segment is projected to grow at a higher CAGR during the forecast period. The banking and financial end-user include digital banking, commercial banking, pension funds, wealth management, retail banking, among others. These end users are the major customers of anti-money laundering. As per the European Commission, around one percent of the EU’s annual gross domestic product, which is approximately EUR 160 billion, goes in handling money laundering activities. The bank and financial institutions are facing the risk of fraud and financial crimes stemming from the digitalization and automation of financial systems which is encouraging the usage of anti-money laundering solutions.

Component – Segment Analysis

Based on the component, the software segment is anticipated to grow at a higher CAGR over the coming years. The anti-money laundering software helps the companies to ensure that the legal requirement framed by the government bodies are met. Moreover, the anti-money laundering software has the ability to increase the customer onboarding process.

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Regional – Segment Analysis:

Based on the region, North America region is expected to dominate the market during the forecast period. This region is technologically advanced and has a large number of early adopters of these technologies. In addition to this, the high presence of a large number of banks is further helping the market to grow. On the other hand, Europe is anticipated to grow at a higher CAGR during the forecast period. The constant improvement in the regulatory norms governing the BFSA industry is a major factor that is contributing to the regional market growth.

Top Market Players

Various notable players operating in the market include ACI Worldwide, BAE Systems, NICE, SAS Institute Inc., Oracle, Experian Information Solutions, Inc., LexisNexis Risk Solutions Groups, FIS, Fiserv, Inc., and DIXITIOR, among others. 

Key Developments:

• • In 2020, NICE improve the SURVEIL-X, a holistic trade surveillance solution that improved the Financial Services Organization to rapidly create, test, and implement the custom analytics risk detection models.

Segments covered in the Report:

The global Anti-Money Laundering market has been segmented on the basis of Component, Deployment Mode, Organization Size, End User and regions. Based on Component, the market is segmented into Solutions and Services. Based on Deployment Mode, the market is segmented into Cloud and On-Premises. Based on Organization Size, the market is segmented into Small and Medium-sized enterprises and Large Enterprises. Based on End User the market is segmented into Banking and Financial, Insurance Providers, and Gaming and Gambling. 

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Market Segmentation

Global Anti-Money Laundering Market by Component

• • Solutions
  • Services

Global Anti-Money Laundering Market by Deployment Mode

• • Cloud
  • On-Premises

Global Anti-Money Laundering Market by Organization Size

• • Small and Medium-sized enterprises
  • Large Enterprises

Global Anti-Money Laundering Market by End User

• • Banking and Financial
  • Insurance Providers
  • Gaming and Gambling

Global Anti-Money Laundering Market by Region

• • North America Anti-Money Laundering Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Deployment Mode
    • By Organization Size
    • By End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Anti-Money Laundering Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Deployment Mode
    • By Organization Size
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Anti-Money Laundering Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Deployment Mode
    • By Organization Size
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Anti-Money Laundering Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Deployment Mode
    • By Organization Size
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Anti-Money Laundering (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ACI Worldwide
  • BAE Systems
  • NICE
  • SAS Institute Inc.
  • Oracle
  • Experian Information Solutions, Inc.
  • LexisNexis Risk Solutions Groups
  • FIS
  • Fiserv, Inc.
  • DIXITIOR