Anti-money Laundering (AML) Market By Component, Deployment Model, Organization Size, Application & Region | Forecast 2023 to 2033
The anti-money laundering (AML) market size is projected to be valued at US$ 3.18 billion in 2023 and is expected to rise to US$ 16.37 billion by 2033. The sales of anti-money laundering (AML) are expected to hold a significant CAGR of 17.8% during the forecast period
The industry is primarily driven by the global increase in complex cyberattacks and cases of money laundering. Cybercriminals look for weaknesses in the architecture of an enterprise to carry out fraud and ransomware assaults, which are successfully prevented by systems running AML software.
The expansion of the anti-money laundering market is also being driven by the advent of security solutions integrated with the Internet of Things (IoT), machine learning (ML), big data analytic tools, and cloud-based solutions. In order to track financial data and forecast risks and uncertainties, organizations are implementing cutting-edge technology with increased compliance capabilities.
The introduction of Know Your Customer (KYC) technology is another factor promoting industry expansion. KYC is the process of verifying users’ identities, limiting unauthorized access, and averting financial losses brought on by shady dealings.
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Significant advancements in the information technology (IT) sector and other reasons, such as the adoption of supportive governmental policies for routinely monitoring and managing criminal activity, are also anticipated to fuel market growth.
Key Takeaways from Market Study
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Manufacturers are Focusing on Acquisition Techniques
The leading anti-money laundering software providers are concentrating on employing merger and acquisition techniques to increase their global reach. Aside from that, key firms are spending money on software to use AI and machine learning technologies for growth and improving operational efficiency. To increase their market share, the companies are looking to buy small, regional businesses. For example,
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Given Below are the Anti-Money Laundering (AML) Market Segments
By Solution:
By Service:
By Deployment Model:
By Organization Size:
By Application:
By Region:
Table of Content:
? ? 1.1. Global Market Outlook
? ? 1.2. Demand-side Trends
? ? 1.3. Supply-side Trends
? ? 1.4. Technology Roadmap Analysis
? ? 1.5. Analysis and Recommendations
? ? 2.1. Market Coverage / Taxonomy
? ? 2.2. Market Definition / Scope / Limitations
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Mar 03, 2023