Anti Money Laundering Software Market to Grow at a CAGR of 14.12% from 2020 to 2025 | BIS Research
The anti-money laundering software market has witnessed a high growth rate over the years, owing to factors such as increased need for automated transaction monitoring systems, increased number of wired transactions.
By: Bis Research
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The anti-money laundering software market has witnessed a high growth rate over the years, owing to factors such as an increased need for automated transaction monitoring systems, an increasing number of wired transactions, and hefty fines for non-compliance with regulatory norms. Additionally, the integration of big data analytics with anti-money laundering software is another key factor driving the market.
In terms of value, the global AML software market accounted for $1,863.6 million in 2019 and is expected to reach $4,097.5 million by 2025 at a CAGR of 14.12% during the forecast period 2020-2025. The growth in the AML software market can be significantly attributed to regulatory compliance requirements with international regulatory bodies and an increased number of wired transactions.
Trends in the AML software market vary across different regions. The AML software market holds a prominent share in various countries of Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa.
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The AML software market is currently one of the most highly competitive industries, with leading players actively competing against each other to gain a greater share in the AML software industry. In January 2019, Fiserv Inc., one of the major AML software market players, announced an agreement to acquire First Data Corporation, a fintech solution provider. In February 2018, LexisNexis Risk Solutions acquired ThreatMetrix which was aimed to help the company to strengthen its position in the AML software industry.
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