Global Anti Money Laundering Market is valued approximately USD 0.87 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.60 % over the forecast period 2020-2027. Anti Money Laundering is a type of market where certain tools and technologies are used to prevent the criminals from obtaining illegal funds as their income through means of commercial or complex transactions. Failure of Anti Money Laundering policies with continuous increment in financial frauds, the introduction of Know Your Customer(KYC) policies by financial institutions and transaction monitoring has led the adoption of Anti Money Laundering across the forecast period. For Instance: as per United Nations Office on Drugs and Crime(UNODC) $800 billion to $2 trillion money is laundered globally which is 2-5 percent of global GDP. Also according to Indian government every year USD 18 billion are lost because of money laundering. However, high complexity of software and inability of detecting the early fraudulent activities impedes the growth of the market over the forecast period of 2020-2027. Also, with the increasing use of Artificial Intelligence, Machine Learning and Big Data technologies & demand for Anti Money Laundering solutions is likely to increase the market growth during the forecast period.
The regional analysis of global Anti Money Laundering market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the growing use of Anti money laundering softwares developed using Artificial intelligence and Machine Learning techniques. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising banking frauds, credit card frauds would create lucrative growth prospects for the Anti Money Laundering market across Asia-Pacific region.
Major market player included in this report are:
Tata Consultancy Services Limited
Cognizant Technology Solutions Corporation
ACI Worldwide, Inc
SAS Institute Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Currency Transaction Reporting
Customer Identity Management
By End Use:
IT & Telecom
Other End Use
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027
Target Audience of the Global Anti Money Laundering Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers