Transaction monitoring is the process of administering, reviewing, and analyzing the transaction processed on an information system or on a business application. The primary purpose of the cloud monitoring of transactions is to detect high-risk operational analytics, secure client company, and preserve the banking relationship.
The global transaction monitoring market was worth $8.3 billion in 2022 and is expected to be worth $ 34 billion by 2031, growing at a CAGR of 14.1% from 2022 to 2031.
.jpg "The Global Transaction Monitoring Market 2021-2031 (USD Billion)")
The growing organization need to manage KYC compliance, and mitigate money laundering and Counter-Terrorist Financing (CTF) activities; and the use of advanced analytics to provide proactive risk alerts are the drivers of the transaction monitoring market. The global transaction monitoring market size is projected to reach over USD 34.2 billion by 2028. This industry is expected to be dominated by many developments over the next eight years. The surge in digitization of payments, rising need for identifying high-risk activities by using advance analytics and need for organizations to comply with stringent regulatory is driving the growth of the market.
However, lack of transaction monitoring and AML professionals and difficulties in managing cross-border and multi-jurisdictional AML-compliance is expected to hamper the growth of the market. Furthermore, integration of advance technology such as AI, machine learning and big data, rising digitalization in payment, and increase in the deployment of transaction monitoring system by SMEs are anticipated to provide lucrative opportunity for the market.
Transaction Monitoring Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | $ 34 billion |
| Growth Rate | CAGR of 14.1 % during 2021-2031 |
| Segment Covered | by Component, by Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Fiserv, Inc. (US), SAS Institute, Inc. (US), IBM Corporation (US), FIS (US), Oracle Corporation (US), Fair Isaac Corporation (US), NICE Systems Ltd (Israel), ACI Worldwide (US), ACTICO GmbH (Germany), Bottomline Technologies (US), Beam Solutions, Inc. (US), Infrasoft Technologies (India), Software AG (Germany), Experian Information Solutions, Inc. (Ireland), and BAE Systems (UK). |
Key Segments of the Global Transaction Monitoring Market
Component Overview (USD Billion)
- Solutions
- Services
Deployment Overview (USD Billion)
- On-Premises
- Cloud
Organization Size Overview (USD Billion)
- Large Enterprises
- Small & Medium Enterprises
Functions Overview (USD Billion)
- Case Management
- KYC/Customer Onboarding
- Dashboard and Reporting
- Watch List Screening
Application Overview (USD Billion)
- Anti-Money Laundering (AML)
- Customer Identity Management
- Fraud Detection and Prevention (FDP)
- Compliance Management
Regional Overview (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Transaction Monitoring market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Transaction Monitoring market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Transaction Monitoring industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, deployment, organization size, functions, and application. moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Transaction Monitoring market. The report will benefit:
- Every stakeholder is involved in the Transaction Monitoring market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Transaction Monitoring market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global transaction monitoring market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
Anti-Money Laundering,Customer Identity Management,Fraud Detection and Prevention,Compliance Management
Growing organization need to manage KYC compliance, and mitigate money laundering and Counter-Terrorist Financing (CTF) activities
AML transaction monitoring solution provides compliance team with a complete view into a customer’s profile, risk level, and predicts future activity.
The base year for the report is 2023 in transaction monitoring market
North America dominated the market for transaction monitoring market and accounted for the largest revenue share.
The Global transaction monitoring Market is Segmented on the basis of Component,Industry Verticals,Regions
Transaction monitoring is the checking of customer transactions, including assessing historical/current customer information and interactions to provide a complete picture of customer activity. It consists of transfers, deposits, and withdrawals. Most financial firms will use software to automatically analyses this data. The transaction monitoring market is expected to evolve fast, as businesses begin to look for solutions that help speed up processes.
Leveraging transaction monitoring brings with it the necessary flexibility and scalability that is essential for driving business growth. However, the lack of specialists in risk analysis could hinder the growth of the industry. Nevertheless, in the coming years, increasing digitalization in the payment processing phase is anticipated to fuel the market.