Transaction Monitoring Market (2023 to 2029) – Growth, Trends, Segments Deployment Mode, Organization

The Transaction Monitoring Market was valued at US$ 14.63 Bn. in 2022. Transaction Monitoring Market size is estimated to grow at a CAGR of 14.8% over the forecast period reaching nearly US$ 38.46 Bn. in 2029.
Transaction Monitoring Market Overview:
The process used in organizations to verify, evaluate, and manage the transaction that occurred in the information system is known as "transaction monitoring," or "business transaction." Additionally, they help banks and other financial institutions keep track of customer transactions. The primary goal is to examine the consumer profile and ensure that no dubious activity occurs.

The report explores the Transaction Monitoring market segments (Deployment Mode, Organization Size, Industry, and Region). Data has been provided by market participants, and regions, (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all Technology sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Transaction monitoring market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Transaction Monitoring market’s contemporary competitive scenario.



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2022 is considered as a base year to forecast the market from 2022 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Transaction Monitoring Market Dynamics:
Advanced analytics is necessary to identify high-risk behaviors:

The use of the transaction monitoring system is the result of the demand for advanced analytics to identify high-risk activities increasing as well as the requirement for businesses to adhere to strict regulatory agreements. The incorporation of cutting-edge technologies like big data, AI, and machine learning as well as an increase in the deployment of transaction monitoring systems by SMEs are also forecasted to have a positive impact on the market.

The market is being driven by growing online commerce and payments:

The growing e-commerce trend in the market and awareness regarding secure payment or transaction. E-commerce companies must use secure payment gateways that abide by the strictest laws and regulations for conducting business online and accepting payments online. This is a key factor influencing the market share for transaction monitoring.

Lack of skilled professionals in the transaction monitoring market:

The reality is that there aren't nearly enough experts qualified to watch over and understand the data and information that these systems produce daily. With the growth of the market, professionals would be needed for the proper flow of the system. The market growth is being retrained due to a lack of qualified professionals in the transaction monitoring industry.

Know your transaction (KYT) trend in the market:

Organizations all across the world are using advanced analytics more frequently to proactively monitor customer interactions. The goal of KYT (Know Your Transaction) is to identify any potentially risky transactions that could lead to cyber fraud, which improves market data for transaction monitoring. The effectiveness of the new model KYT allows it to identify fraudulent credit card transactions in advance. As well as setting new standards for the transaction tracking sector, it may reveal which credit card was used to make the purchases.

Less understanding and adaptation to the system:

The development of more advanced technologies that are simpler for users who aren't IT or business analytics experts to utilize represents perhaps the biggest difficulty that businesses in the transaction monitoring market industry confront. A good system needs a good understanding of the product for the end-users so making a less complex system can create a problem.
Transaction Monitoring Market Trends:
Some of the main factors propelling the growth of the transactional monitoring software market are the quick rise in digital payments and the rise in cases of money laundering. The growing demand for efficient management of counter-terrorist financing (CTF) and know your customer (KYC) compliance activities is also boosting the market growth. Accordingly, businesses have begun employing advanced analytics to spot high-risk actions, which is helping the market expand. In addition, the market players' adoption of sophisticated transactional monitoring software is encouraging the industry's growth because of the quickly expanding regulatory framework designed to remove financial threats.
Segment Analysis:
Based on Deployment Mode, the transaction monitoring market's cloud deployment mode is the one that is growing at the highest rate. Particularly Small and Medium-sized Enterprises (SMEs) have adopted the cloud deployment strategy since it enables them to concentrate on their core skills rather than spending money on network infrastructure. By employing a cloud-based transaction monitoring service, businesses can avoid the costs of hardware, software, storage, and technical labor. The safety of financial transactions is of utmost importance because thieves frequently target them.

Based on Organisation Size, Because of the increasing data protection rules and lack of expensive security solutions within the payment network infrastructure, the SMEs segment is forecasted to develop at a higher CAGR over the forecast period. Despite being tiny in size, SMEs serve a huge number of clients globally. Because of their limited financial resources, SMEs do not install a robust and comprehensive transaction monitoring system.
Regional Insights:
The North American region held the largest market share accounting for 32% in 2022.

The North American region is expected to witness significant growth at a CAGR of 8.6% through the forecast period.

North America is forecast to surpass Europe as the market where transaction monitoring solutions and service providers generate the most income. One of the main drivers forecasted to propel the market's growth in North America is the growing need to manage KYC compliance, minimize money laundering and Counter-Terrorist Financing (CTF) operations, and apply sophisticated analytics to give proactive risk alerts. Because of the transaction monitoring solution's proactive security measures for preventing data breaches, the Asia Pacific market has grown. The transaction monitoring procedure and its advantages have come to the attention of SMEs as well as large enterprises in the Asia Pacific area, and they have begun to be adopted to forecast suspicious transactions and money laundering operations.

AML is the top priority for the European Union in 2022, terrorist financing and money laundering are the two most serious threats. EBA would establish a new committee to address the problem cooperatively by focusing on the superimposable execution of several policies. Investigating AML regulations that have been broken and taking the necessary measures are the main objectives.

The objective of the report is to present a comprehensive analysis of the Transaction Monitoring Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Transaction Monitoring Market dynamic, and structure by analyzing the market segments and projecting the Transaction Monitoring Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Transaction Monitoring Market make the report investor’s guide.
Transaction Monitoring Market Competitive Landscape:
Companies are realizing that if they want to continue to be financially sustainable in the long run, they must spend on research and development. They discover that they can create better technology, advertise them more effectively, and charge more for them. Companies can increase their profitability and competitiveness by engaging in mergers and acquisitions. Strategic alliances with other prosperous businesses in the sector also serve this purpose, incidentally. Some of the key players in the transaction monitoring market are FICO, Bae Systems, Fiserv, SAS, Experian, Oracle, FIS, ACI Worldwide, Software AG, Refinitiv
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Transaction Monitoring Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 14.63 Bn.


Forecast Period 2023 to 2029 CAGR:
14.8%
Market Size in 2029:
US $ 38.46 Bn.


 Segments Covered:
by Deployment Mode
On-premises
Cloud


by Organization Size
Small and Medium-sized Enterprises (SMEs)
Large enterprises


by Industry
Banking, Financial Services & Insurance
Telecom & Information Technology (IT)
Manufacturing
Construction
Wholesale Distribution
Non-profit Organizations
Chemicals
Food and Beverage
Retail



Transaction Monitoring Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.FICO
2.Bae Systems
3.Fiserv
4.SAS
5.Experian
6.Oracle
7.FIS
8.ACI Worldwide
9.Software AG
10.Refinitiv
11.Complyadvantage
12.Infrasoft Technologies
13.Caseware
14.Actico
15.Compliancewise
16.Eastnets
17.Bottomline Technologies
18.Beam Solutions
19.Identitymind
20.NICE Ltd.
21.Acuant, Inc.
22.IdentityMind
23.ACI Worldwide
24.Fair Isaac Corporation

Frequently Asked Questions:

1] What is the forecast market size and growth rate of the Transaction Monitoring market?
Ans. Forecasted market size US$ 38.46 Bn. till 2029, with a CAGR of 14.8 %.

2] What are the key driving factors of the growth of the Transaction Monitoring market?
Ans. Advanced analytics is necessary to identify high-risk behaviors, the market is being driven by growing online commerce and payments are some of the factors driving the growth of the Transaction Monitoring market.

3] Which region is expected to hold the highest share in the Transaction Monitoring Market?
Ans. The North American region is expected to hold the highest share in the Transaction Monitoring market.

4] Which are the leading key players in the Transaction Monitoring market?
Ans. FICO, Bae Systems, Fiserv, SAS, Experian, Oracle, FIS, ACI Worldwide, Software AG, Refinitiv are some of the key players in the Transaction Monitoring market.

5] What segments are covered in Transaction Monitoring?
Ans. The Transaction Monitoring market is segmented in Deployment Mode, Organization Size, Industry, and Region.