According to the latest report by IMARC Group, titled, “Transaction Monitoring Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global transaction monitoring software market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
Transaction monitoring software is commonly used to track customer transaction activities by analyzing customer profiles and historical data. It is widely adopted by financial and legal companies to identify customer authentication and prevent financial crimes. As a result, it assists multiple organizations in complying with stringent regulations while enhancing the overall efficiency of companies, which is positively influencing the market growth.
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The global market is primarily driven by the increasing incidences of money laundering activities. In line with this, the rising need to track counter-terrorist financing (CTF) activities across the globe has encouraged numerous businesses to heavily invest in the deployment of transaction monitoring software systems, which is providing an impetus to the market growth. Along with this, various technological advancements, such as the integration of these software solutions with big data and the Internet of Things (IoT), are creating a positive outlook for the market. Other factors, including rapid digitization and numerous government initiatives for controlling cyber-criminal activities, are contributing to the market growth further.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- ACI Worldwide Inc.
- BAE Systems plc
- Comply Advantage
- Experian plc
- Fair Isaac Corporation
- Fiserv Inc.
- NICE Ltd.
- Oracle Corporation
- SAS Institute Inc.
- Software AG
- Thomson Reuters Corporation.
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The report has segmented the market based on component, deployment mode, enterprise size, application and end use industry.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Anti-Money Laundering
- Customer Identity Management
- Fraud Detection and Prevention
- Compliance Management
Breakup by End Use Industry:
- Government and Defense
- IT and Telecom
- Energy and Utilities
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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