As per the research by Market Research Future Reports (MRFR), the Global Transaction Monitoring Market is likely to value USD 19.32 billion with a CAGR of 17.4% during the forecast period. The monitoring of day-to-day customers’ transactions is estimated to actuate the global transaction monitoring market 2020. The prerequisite for an immediate risk alert is estimated to be another important factor that dilates the market during the forecast period. Besides, the enforcement of digitalization for payment transaction strategy is projected to magnify the global market during the forecast period. Moreover, technological advancement such as machine learning and big data and artificial intelligence has additionally propelled the market. The establishment of robust distribution channels is likely to present several opportunities and development of the market in the future. However, due to the lack of expertise, the market is likely to reduce the pace of expansion.
Due to the outbreak of COVID-19, there has been a significant change in market dynamics. We will provide COVID-19 impact analysis with the report.
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- The global transaction monitoring market can be classified on the basis of deployment type, application, organization size, verticals, function, component, and region.
- On the basis of deployment type, the global transaction monitoring market can be classified into on-premise and cloud.
- On the basis of application, the global transaction monitoring market can be classified into fraud detection & prevention, anti-money laundering, compliance management, and customer identity management
- On the basis of organization size, the global transaction monitoring market can be classified into small & medium-sized enterprises (SMEs) and large enterprises.
- On the basis of verticals, the global transaction monitoring market can be classified into energy & utilities, retail, IT & telecommunication, manufacturing, government & defense, healthcare, and BFSI.
- On the basis of function, the global transaction monitoring market can be classified into KYC/customer onboarding, dashboard & reporting, watch list screening, and case management.
- On the basis of component, the global transaction monitoring market can be classified into solutions and services.
- On the basis of region, the global transaction monitoring market can be classified into Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
the geographical analysis of Asia-Pacific, North America, Europe, and the Rest of the World (RoW) has been conducted. As per the analysis by Market Research Future Reports (MRFR), the North American region dominates the market. The implementation of KYCS regulations, reduced counter-terrorist financing activities, and money laundering are influencing the market. The e-commerce and retail sector is projected to be utilizing transaction monitoring solutions. Besides, the usage of advanced analytics to offer immediate risk alerts is augmenting the market in North America. As per the analysis, the second position is attained by the European market. The increasing demand for transaction monitoring solution is the major reason which drives the regional market. On the other hand, the APAC region is estimated to expand at the fastest rate during the forecast period. Several organizations are adopting these solutions across various verticals like retail, e-commerce, and the BFSI, which will benefit the APAC region.
However, the market dynamics have changed due to the outbreak of COVID-19.
The forefront players of the global transaction monitoring market are SAS Institute, Inc. (the US), Beam Solutions, Inc. (US), IBM Corporation (US), Experian Information Solutions, Inc. (Ireland), Oracle Corporation (US), FIS (US), ACI Worldwide (US), Fiserv, Inc. (the US), Fair Isaac Corporation (US), NICE Systems Ltd (Israel), ACTICO GmbH (Germany), Bottomline Technologies (US), Software AG (Germany), Infrasoft Technologies (India), and BAE Systems (UK).
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