Growing corruption,
terrorist financing and emergence of advanced technologies to drive global
transaction monitoring market through 2024
According
to TechSci Research report, “Global Transaction Monitoring
Market By Component,
By Application, By Function, By End-Use, By Deployment Mode, By
Organization Size, By Region, Competition, Forecast & Opportunities, 2024”, Global
transaction monitoring market is anticipated to witness robust growth,
exhibiting a CAGR of close to 15% during the forecast period on account of increasing
terrorism and rising adoption of advanced analytics to provide proactive risk
alerts. Moreover, rising frequency and intensity of cyber threats coupled with
increasing security attacks such as spyware and viruses is making them more difficult
to be detected and controlled. Therefore, the most challenging factor in the
global transaction monitoring market is the identification and prevention of
transaction threats. However, due to emerging technological advancements like artificial
intelligence and blockchain, the efficiency of transaction monitoring solutions
will improve significantly over the years to come. However, lack of risk
analysis professionals can act as a major impediment to growth of transaction
monitoring market in the forthcoming years.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on
“Global Transaction
Monitoring Market”
Global
transaction monitoring market can be segmented based on component, application,
function, end-use, deployment mode, organization size and region. Considering
the application, the market can be segmented into AML, FDP, Compliance
Management, and Customer Identity Management. Among them, Anti-Money Laundering
(AML) and Fraud Detection and Prevention (FDP) is anticipated to grow at a
rapid rate on account of increasing number of financial crimes, such as
financial terrorism, money laundering, corruption and the stringent regulations
would trigger growth of this segment during the forecast period. In terms of
region, North America held the largest market share of approximately 39% in 2018
and is projected to dominate the market through the forecast years as well due
to the rising need to manage KYC compliance and mitigate money laundering and
Counter-Terrorist Financing activities. Additionally, the use of advanced
analytics to provide proactive risk alerts is further expected to fuel the
growth of transaction monitoring market in North America. Moreover, the Asia-Pacific
region is anticipated to record the highest growth through 2024 as it is the
biggest hub for various big banks that are rapidly deploying the transaction
monitoring solution, thus propelling the market growth. BAE Systems, FICO,
Infrasoft Technologies, IdentityMind, ComplyAdvantage, ACI Worldwide, Oracle,
NICE, Software AG and SAS, among others are the leading players operating in global
transaction monitoring market.
Customers can also
request for 10% free customization on this report.
“On account of rising number of people who are digitally connected and
the growing adoption of online transactions, the personal identity and data
control have become a primary concern for online retailers. Therefore, the
risks of identity theft can be reduced by using a decentralized identity such
as transaction monitoring solutions for identity management. Thus, the growing
need for protection against online frauds will fuel market growth during
forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Global Transaction Monitoring Market By Component, By
Application, By Function, By End-Use, By Deployment Mode, By
Organization Size, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global
transaction monitoring market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global transaction
monitoring market.
Global Physical Security Market By Component (Hardware, Software And
Services), By End User (Government, Retail, Bfsi, Transportation, It &
Telecom And Others), By Region, Competition, Forecast & Opportunities, 2024
Global cyber security market by security
type (network security, content security, etc.), by solutions (identity &
access management, risk & compliance management, etc.), by end use
industry, by region, competition forecast and opportunities, 2011-2021 https://www.techsciresearch.com/report/global-cyber-security-market-by-security-type-network-security-content-security-etc-by-solutions-identity-access-management-risk-compliance-management-etc-by-end-use-industry-by-region-competition-forecast-and-opportunities-2011-2021/687.html
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
No comments:
Post a Comment