Artificial Intelligence in Regtech Global Research Report 2024: Market to Reach $6.64 Billion in 2028 at a CAGR of 36.9% – Global Long-term Forecasts to 2033
Global Artificial Intelligence in Regtech Market
Dublin, April 18, 2024 (GLOBE NEWSWIRE) — The “Artificial Intelligence in Regtech Global Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The artificial intelligence in regtech market size has grown exponentially in recent years. It will grow from $1.37 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 37.3%. The artificial intelligence in regtech market size is expected to see exponential growth in the next few years. It will grow to $6.64 billion in 2028 at a compound annual growth rate (CAGR) of 36.9%.
The growth observed in the historical period can be attributed to several factors, including the increase in compliance costs, a growing demand for automation, the explosion of data, and an emphasis on enhanced risk management practices.
North America was the largest region in the artificial intelligence (AI) in regtech market in 2023. The regions covered in the artificial intelligence in regtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the artificial intelligence in regtech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The anticipated growth in the forecast period can be attributed to various factors, including regulatory reporting requirements, the need for real-time monitoring, advancements in regulatory technology, a focus on customer protection, and the emphasis on cross-border compliance. Major trends expected in the forecast period encompass the adoption of machine learning (ML) and natural language processing (NLP), the incorporation of explainable AI (XAI), the utilization of predictive analytics, the automation of compliance processes, risk assessment and management, and the establishment of regulatory sandboxes and innovation hubs.
The escalation in fraud detection efforts is anticipated to drive the expansion of the artificial intelligence in regtech market in the forthcoming years. Fraud detection involves deploying diverse techniques and technologies to identify and thwart fraudulent activities within systems or organizations. Artificial intelligence (AI) in regtech (regulatory technology) plays a pivotal role in fraud detection by harnessing advanced algorithms and machine learning techniques to scrutinize extensive datasets sourced from various channels.
This empowers organizations with robust tools to proactively identify and forestall fraudulent activities, thereby mitigating financial losses and fortifying defenses against regulatory breaches. For example, data from the Federal Bureau of Investigation revealed a significant surge in cryptocurrency investment scams targeting individuals aged 30-49, with losses escalating from $907 million in 2021 to $2.57 billion in 2022. Consequently, the heightened focus on fraud detection serves as a catalyst propelling the growth of the artificial intelligence in regtech market.
Leading enterprises within the artificial intelligence in regtech sector are pioneering innovative products such as AI RegTech solutions to bolster compliance processes within the financial services industry. AI RegTech solutions represent software applications leveraging artificial intelligence (AI) and machine learning (ML) to automate tasks, enhance efficiency, and mitigate risks associated with regulatory compliance.
Artificial Intelligence in RegTech, or regulatory technology, involves the application of AI technologies and techniques to enhance regulatory processes. AI-enabled regtech solutions can significantly improve data governance, business risk assessment, and overall regulatory compliance within the financial industry.
The main categories of artificial intelligence in regtech comprise solutions and services. AI in RegTech solutions utilizes technologies such as machine learning, natural language processing (NLP), and data analytics to enhance regulatory compliance processes in the financial sector. Various operational models, including unsupervised learning, supervised learning, reinforced learning, and semi-supervised learning, are applied for tasks such as regulatory compliance, risk management, financial crime detection, identity management, compliance support, analytics, and automated trading applications.
The artificial intelligence regtech market research report is one of a series of new reports that provides artificial intelligence regtech market statistics, including artificial intelligence regtech industry global market size, regional shares, competitors with an artificial intelligence regtech market share, detailed artificial intelligence regtech market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence regtech industry. This artificial intelligence regtech market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $1.89 Billion |
| Forecasted Market Value (USD) by 2028 | $6.64 Billion |
| Compound Annual Growth Rate | 36.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- IBM Watson Financial Services
- White and Case LLP
- Sysxnet Limited
- Trulioo
- Onfido
- ComplyAdvantage
- Behavox Ltd.
- FundApps Ltd.
- Sift Science
- AlgoDynamix
- WorkFusion
- Trunomi
- Elliptic
- Fund Recs
- IdentityMind Global
- Corlytics Ltd.
- Silverfinch Consultancy Pvt Ltd
- Merlon Intelligence
- Open Source Investor Services
- AQMetrics Limited
- Ayasdi
- CheckRecipient Limited
- KYC Exchange Net AG
- Text IQ
For more information about this report visit https://www.researchandmarkets.com/r/jc3omm
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