Anti-Money Laundering Market was valued at USD 6.8 billion in 2020 and is projected to touch USD 21.1 billion in 2028 growing at a high CAGR of 15.2%
The factors driving the growth of Anti-Money Laundering (AML) Market includes increasing use of money laundering software for detecting suspicious transactions and customer data, rising volumes of digital transactions around the world, Government regulations to restrict money laundering related crimes and improvements in the living standards. Moreover, technological advancements ion anti-money laundering software, increasing use of AML solutions to detect anomalies, identify patterns which indicate possibility of money laundering and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rise in the launch of innovative products, strategic mergers and collaborations between key industry players and growing population growth rates, are further contributing towards the market growth.
However, growth of the Anti-Money Laundering Market is hindered due to complexities in AML solutions.
The major players operating in the market are LexisNexis Risk Solutions Groups, FIS, Fiserv, Inc., ACI Worldwide, BAE Systems, NICE, DIXITIOR, SAS Institute Inc., Oracle and Experian Information Solutions, Inc., among others.
Based on Deployment Mode, the On-Premises segment is predicted to grow at a significant CAGR during the forecast period
On-premises AML solutions help companies to control platforms, applications, and systems, and allows IT staff to handle data, are some of the features pushing Anti-Money Laundering Market size.
Based on End User, the Banking and Financial segment is projected to expand at a remarkable CAGR over the forecast period
Raising incidences of fraud and financial crimes in the banking sector and growing demand for automated technologies, are propelling growth of the segment.
Based on Region, the North American region is anticipated t o hold the highest market share during the forecast period
Presence of the leading players such as Experian Information Solutions, Inc., Oracle and Fiserv, Inc., growing adoption of advanced technologies by manufacturers, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Segmentation by Component
Segmentation by Deployment Mode
Segmentation by Organization Size
Segmentation by End User
Segmentation by Region
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