Transaction Monitoring Market Size to Reach USD 39.32 Billion, With a CAGR of 12.30% CAGR by 2030 - Report by Market Research Future (MRFR)

Growing Online Payments and Commerce to Boost Transaction Monitoring Market Growth

New York, US, May 09, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Transaction Monitoring Market by Component, Deployment, Organization Size, by Application, Function, Vertical—Forecast till 2030.

Growing Online Payments and Commerce to Boost Market Growth

The market's expanding e-commerce trend and awareness of secure transaction or payment is boosting market growth. E-commerce businesses are required to utilize secure payment gateways which adhere to the toughest rules and legislation for carrying out business and taking payments online. The market share for transaction monitoring is significantly impacted by this.

Transaction Monitoring Market Key Players -  

Eminent industry players profiled in the global transaction monitoring market report 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)
  • BAE Systems (UK).

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Market Opportunities:

Increasing Deployment by SMEs to offer Robust Opportunities

Because they are frequently used as a cover industry for various forms of financial crime and money laundering, SMEs are primarily regarded by banking & other financial institutions as the sector with the highest risk. As a result, more SMEs are using cutting-edge technology to improve their efficiency and lower fraud in their transaction monitoring systems. Examples of these technologies include big data analytics, artificial intelligence, and machine learning. Moreover, AI-based transaction monitoring aids SMBs in proactive data monitoring and compliance with a variety of stringent government laws. The market for transaction monitoring worldwide is growing as a result of all these causes.

Market Restraints and Challenges

Network Transmission Concerns to act as Market Challenge

Network transmission issues and concerns, shortage of technical expertise, and dearth of transaction monitoring may act as market challenges over the forecast period.

Transaction Monitoring Market Report Scope:

Report MetricsDetails
  Market Size by 2030USD 39.32 Billion
  CAGR during 2022-203012.30%
  Base Year2021
  Forecast 2022-2030
 Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Key Market DriversThe growing need of enterprises to comply with the know your customer (KYC) regulations and mitigate money laundering and Counter-Terrorist Financing (CTF) activities; and use of advanced analytics to provide proactive risk alerts are the factors which are expected to drive the market in North America.

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Market Segmentation

The global transaction monitoring market is bifurcated based on vertical, function, application, organization size, deployment mode, and component.

By component, service will lead the market over the forecast period.

By deployment mode, cloud will domineer the market over the forecast period.

By organization size, SMEs will spearhead the market over the forecast period.

By application, anti-money laundering will have the lions share in the market over the forecast period.

By function, dashboard and reporting will have the largest share in the market over the forecast period.

By vertical, BFSI will steer the market over the forecast period.

Market Analysis

The global transaction monitoring market will touch USD 39.32 billion at a 12.30% CAGR by 2030, as per the present Market Research Future report.

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COVID-19 Analysis of Transaction Monitoring Market

People did not wish to be exposed to such possibly fatal infection, the COVID-19 therefore the world was thrust into the digital era. Individuals started doing their shopping and working remotely. Business transactions significantly increased as a result of this. Hence, it provided a significant boost to the global market for transaction monitoring. Also, as more consumers used credit cards & other online payment methods to make purchases online, fraudsters had more opportunity to commit crimes. As a result, the COVID-19 quarantines actually contributed to a rise in cybercrime.

Regional Analysis

North America to Command Transaction Monitoring Market

Due to factors such as the government's increased attention on maintaining & repairing civil infrastructure, ageing infrastructure, and the growing requirement to manage KYC compliance, North America is flourishing its dominance in the worldwide transaction monitoring industry. Also, there is a large-scale implementation of advanced analytics to protect the safety & security of important documents against preemptive hazards.

The transaction monitoring industry presently brings in the greatest money in the North American region. This is due to the fact that the majority of international e-commerce transactions currently take place in the United States & the rest of North America. Mexico and Canada, the two remaining nations in North America, come in second and third place, respectively, with regards to market revenue production.

As e-commerce becomes more prevalent in this region, the governments of Canada, Mexico, & the United States are establishing Know Your Customer (KYC) norms and regulations. The goal of these laws is to reduce credit card fraud & money laundering. Additionally, they have procedures in place to prevent these behaviors from occurring as frequently as is physically possible. Moreover, KYC rules and guidelines are designed to stop as much money as possible for the terrorist organizations. As a result, these rules and regulations commonly mention sophisticated analytics. These innovative analytics are designed to alert credit card companies to potential instances of terrorist funding or credit card fraud either at the moment they happen (ideally before they occur) or, at the very least, shortly after. All of these things are expected to contribute to the expansion of the North American market.

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APAC to Have Admirable Growth in Transaction Monitoring Market

Asia-Pacific is predicted to have the highest CAGR during the projection period. The region's development is attributable to people becoming more aware of transaction monitoring processes & its advantages. Many countries, including China, India, & others, are boosting their infrastructure investments in order to promote economic growth.

In the APAC area, both SMEs and major enterprises were increasingly aware of the transaction monitoring process and its advantages and started implementing it to protect against shady transactions & money laundering activities. Throughout the projected period, this market is expected to grow most quickly in Asia-Pacific. Retail and e-commerce sectors are expected to boost the APAC as more businesses use these solutions throughout the BFSI.

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