How Has the Regulatory Reporting Solutions Market Size Evolved in Recent Years?
The regulatory reporting solutions market has seen considerable growth due to a variety of factors.
• The regulatory reporting solutions market has grown rapidly in recent years. It will rise from $6.75 billion in 2024 to $7.61 billion in 2025, at a compound annual growth rate (CAGR) of 12.7%.
This growth is driven by stringent regulatory requirements, financial crises, regulatory reforms, the rise of cross-border transactions, and the need for cost-effective operational efficiency.
What Are The Predictions for The Regulatory Reporting Solutions Market in the Coming Years?
The regulatory reporting solutions market is expected to maintain its strong growth trajectory in upcoming years.
• The regulatory reporting solutions market is expected to grow to $12.1 billion by 2029 at a CAGR of 12.3%.
This growth will be driven by the globalization of business operations, increasing instances of financial fraud, and the shift toward cloud-based solutions. Key trends include automation, AI, real-time reporting, and the use of blockchain technology.
Which Drivers Are Accelerating Growth In The Regulatory Reporting Solutions Market?
The anticipated growth of the regulatory reporting solutions market is linked to the escalating instances of deceptive activities. Fraud encompasses a myriad of actions or strategies that generate financial advantages dishonestly or via illegal means. The prevalent use of digital technology and the internet has escalated the instances of social engineering, malware, and hacking techniques, enabling fraudulent individuals to access sensitive data illicitly for their financial advantage. Regulatory reporting solutions can detect and curtail such deceptive tactics by ensuring adherence to regulatory standards and bringing about transparency and accuracy in financial documentation. As per UK Finance, a banking sector trade association based in the UK, authorized fraud losses hit £485.2 million ($616 million) in May 2023, showing an increase of 6% from 2021 with the total number of cases reaching 207,372 in 2022. Hence, the increase in fraudulent activities is propelling the growth of the regulatory reporting solutions market.
What Are The Core Segments Of The Global Regulatory Reporting Solutions Market?
The regulatory reporting solutions market covered in this report is segmented –
1) By Solution: Regulatory Reporting Software, Services
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
3) By Application: Financial Institutions, Banking, Information Technology (IT) And Telecommunication, Other Application
Subsegments:
1) By Regulatory Reporting Software: Automated Reporting Software, Real-Time Reporting Solutions, Cloud-Based Regulatory Reporting Software, Data Integration And Analytics Tools, Risk And Compliance Reporting Software, Financial And Tax Reporting Software
2) By Services: Consulting Services, Implementation Services, Managed Services, Audit And Compliance Services, Training And Support Services, Data Management And Integration Services
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How Are Emerging Trends Reshaping The Dynamics Of The Regulatory Reporting Solutions Market?
Leading firms in the field of regulatory reporting solutions are concentrating on workflow automation by incorporating technologies like generative features powered by AI. This innovation aims to enhance compliance management, streamline report tasks, and minimize regulatory risks. Generative AI-powered features employed in regulatory reporting solutions use sophisticated algorithms to autonomously construct and propose data mappings, plus actionable financial market insights. For example, Sweep, a UK-based sustainable data management platform, introduced its latest innovation in regulatory compliance solutions, Sweepy, in March 2024. Its generative features powered by AI assist firms in easing compliance with the corporate sustainability reporting directive (CSRD) and various other regulatory mandates. This tool facilitates data ingestion, proposes financial and impact materiality mappings guided by industry benchmarks, and automates non-financial data reporting and disclosure. It offers AI-derived advice on emissions factors tailored to the operations of the business and actionable roadmaps for emissions reduction and sustainability goals achievement. Moreover, it provides AI suggestions to address inconsistencies in data input that could potentially compromise compliance and auditing procedures.
Who Are the Key Players In The Regulatory Reporting Solutions Market?
Major companies operating in the regulatory reporting solutions market are:
• Accenture plc
• International Business Machines Corporation
• Deloitte Touche Tohmatsu Limited
• PricewaterhouseCoopers International Limited
• Ernst & Young Global Limited
• Oracle Corporation
• KPMG International Limited
• Fiserv Inc.
• Fidelity National Information Services Inc.
• Bloomberg LP
• Thomson Reuters Corporation
• Broadridge Financial Solutions Inc.
• Wolters Kluwer N.V.
• Moody's Corporation
• SS&C Technologies Holdings Inc.
• IHS Markit Ltd.
• SAS Institute Inc.
• BearingPoint Holding BV
• VERMEG Group
• AxiomSL Holdings Inc.
• Compliance Solutions Strategies (CSS) Holdings Inc.
• CUBELogic Limited
• Cube Software Limited
• Encompass Corporation
• Meritsoft Limited
• Cappitech Ltd.
• AQMetrics Limited
What Are The Regional Insights Into The Regulatory Reporting Solutions Market?
North America was the largest region in the regulatory reporting solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the regulatory reporting solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
