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The transaction monitoring solutions market size has the potential to grow by USD 9.97 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by application (anti-money laundering, customer identity management, fraud detection and prevention, and compliance management), deployment (cloud-based and on-premises), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape. It offers information on several market vendors, including ACI Worldwide Inc., BAE Systems Plc, Bottomline Technologies (de) Inc., Fair Isaac Corp., Fidelity National Information Services Inc., Fiserv Inc., NICE Ltd., Oracle Corp., SAP SE, and SAS Institute Inc.
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The market is fragmented. The key vendors in the market are focusing on R&D activities and product innovation to expand their market presence. ACI Worldwide Inc., BAE Systems Plc, and Bottomline Technologies (de) Inc. are some of the major market participants. Although the emergence of advanced technologies in transaction monitoring will offer immense growth opportunities, the lack of efficient security solutions will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this transaction monitoring solutions market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and provides information on the products offered by various companies. Moreover, this market analysis report also includes information on the upcoming transaction monitoring solutions market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This transaction monitoring solutions market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
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North America was the largest transaction monitoring solutions market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing adoption of online payments in BFSI, retail, healthcare, and government sectors will significantly drive the transaction monitoring solutions market growth in this region over the forecast period.
Almost 35% of the market's growth will originate from North America during the forecast period. The US is the critical market for transaction monitoring solutions market in North America. Market growth in this region will be slower than the growth of the market in APAC and Europe.
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SMEs are increasingly adopting cloud-based transaction monitoring solutions as they are convenient and affordable to store and share critical business data. The integration of payment applications with cloud technologies will increase the adoption of cloud-based transaction monitoring services in large firms. As a result, the cloud-based deployment segment held a significant market share in the transaction monitoring solutions market.
The transaction monitoring solutions market share growth by the cloud-based segment will be slower than the growth of the market by the on-premises segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the transaction monitoring solutions market size.
With the increasing penetration of the Internet, there is an increase in the number of online transactions. However, transactions through customers and online retailers are controlled through centralized platforms that are vulnerable to hacking and identity thefts. Adopting techniques such as phishing and brand spoofing, hackers gain customers? personal information, which results in the loss of brand loyalty and damaging brand equity. This drives the need for decentralized identification tools such as transaction monitoring solutions for identity management.
The increasing use of wireless networks that facilitates the interaction between people and machines has led to a rise in data thefts. This induced organizations to make huge investments in advanced security solutions to overcome such data theft-related cyber-attacks. The adoption of AI increases the efficiency of transaction monitoring solutions by improving crime spotting and prevention. Companies such as NICE, BAE Systems, and ACI Worldwide are already offering transaction monitoring solutions integrated with AI. The emergence of such advanced technologies in transaction monitoring will drive transaction monitoring solutions market growth at a CAGR of almost 15% during 2020-2024.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Deployment
Customer landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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