Anti-Money Laundering (AML) Market by Component, Solution, Organization Size, Deployment Mode, End User, and Region

DUBLIN, July 18, 2022 /PRNewswire/ — The “Global Anti-Money Laundering (AML) Market by Component, Solution (KYC/CDD and Sanctions Screening, Transaction Monitoring, and Case Management and Reporting), Organization Size, Deployment Mode ( on-premises, cloud), end-user and region – Forecast to 2027″ report has been added to from offer.

The Global Anti-Money Laundering Market Size is Expected to Grow from an Estimated Value to $2.8 billion in 2022 at $5.8 billion by 2027, at a compound annual growth rate (CAGR) of 15.9% from 2022 to 2027.

Some of the factors driving the growth of the market include monetary penalties, regulatory penalties and loss of reputation due to non-compliance with regulations, growing attention on digital payments and the need to create a 360 degree view of data in the financial landscape. However, lack of qualified AML professionals with in-depth knowledge and lack of awareness about government regulations and deployment of AML solutions is expected to hamper the market growth.

By Solutions, Insurance is Expected to Grow at the Highest CAGR Over the Forecast Period

Insurance includes life insurance, health insurance, travel insurance, business insurance, and auto insurance. Insurance companies offer flexible policies and investment products and services. These products and services allow customers to deposit and withdraw large amounts of cash.

These flexible offers and the massive flow of funds in the life insurance industry have made this sector vulnerable to money laundering and other illegal activities in the insurance industry. The authorities have imposed AML regulations on insurance covering the obligation of transaction monitoring and sanction screening. In the United States, the Bank Secrecy Act (BSA) imposed transaction monitoring regulations on insurance companies to track cash flow. To keep track of money flowing in and out of systems, government and financial organizations are implementing industry-specific guidelines, which are expected to fuel the adoption of AML solutions. Thus, the insurance industry is expected to grow at the highest CAGR during the forecast period.

By organization, large enterprises account for larger market size over the forecast period

By size of organization, companies are classified into large and small and medium-sized enterprises (SMEs). Companies with more than 1,000 employees are considered large companies. Large enterprises are early adopters of AML solutions because they use many business applications susceptible to fraudulent attacks.

As these companies are large, with different types of IT infrastructures, they face the difficult task of effectively managing the security of their applications. Unlike SMEs, large companies are well equipped with technical skills, have higher investment capacities and are more exposed to incidents of fraud. This has led to higher levels of awareness among large companies. Large companies are resource-rich and offer a number of options for monetary transactions to customers around the world. Because of this, large banks, casinos and insurance companies are more vulnerable than SMEs, so that large companies represent a larger market share than SMEs.

By region, North America grow to the highest market size over the forecast period

Due to the presence of major AML solution and service providers in the North America region and continuous innovations such as the implementation of AI and ML in AML solutions, North America is expected to hold the largest market size over the forecast period. Two authorities are present in the United States: BSA and UNITED STATES Patriot. These authorities create regulations and policies to combat financial crimes in the country. These regulatory standards are the main foundations for the reliance on AML solutions, which in turn drive the growth of the market.

In addition, increasing technological advancements and increase in money laundering cases are fueling the AML market with Canada. AML providers in this country are adopting advanced AI and ML-based AML solutions to defend their systems against suspicious transactions. Thus, organizations of Canada are taking modern anti-money laundering measures and applying a risk-based approach to combat financial crimes, thereby increasing the market growth.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Attractive Opportunities in the Anti-Money Laundering Market
4.2 Market, by component
4.3 Anti-Money Laundering Solutions Market, by Type
4.4 Market, by Organization Size
4.5 Anti-Money Laundering Market Share by Top Three End Users and Regions
4.6 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers Increase in financial penalties, regulatory penalties and loss of reputation due to non-compliance with regulations Growing Focus on Digital Payments and Internet Banking Need to create an infrastructure with a 360 degree view of data in the financial landscape
5.2.2 Constraints Increased technological complexities and sophistication of attacks Budget issues related to the development of internal fraud detection solutions
5.2.3 Opportunities Increased Adoption of Advanced Analytics in AML Integration of Ai, Ml and Big Data technologies in the development of Aml solutions Adoption of cloud-based AML solutions to fight financial crimes
5.2.4 Challenges Lack of qualified AML professionals with in-depth knowledge Lack of awareness related to government regulations and deployment of AML solutions
5.3 Use cases
5.3.1 Use case 1: Fico helped 4Finance increase efficiency while maintaining regulatory compliance
5.3.2 Use case 2: Nice Actimize helped a European bank improve its visibility on global operations
5.3.3 Use Case 3: The Sas Institute helped a Bangkok bank stay ahead of emerging risks and changing regulations
5.4 Pricing and regulatory landscape
5.4.1 Presentation
5.4.2 Financial sector regulator
5.4.3 Financial Action Task Force (FATF)
5.4.4 International Monetary Fund
5.4.5 General Data Protection Regulation
5.4.6 Gramm-Leach-Bliley law
5.4.7 Sarbanes-Oxley Act
5.4.8 Regulatory bodies, government agencies and other organizations
5.5 Ecosystem
5.6 Technology Analysis
5.6.1 Anti-money laundering and Ai/Ml
5.6.2 Anti-money laundering and data analysis
5.6.3 Anti-Money Laundering and Internet of Things
5.6.4 Anti-money laundering and real-time authentication
5.7 Patent Analysis
5.8 Value chain
5.9 Average Price Analysis
5.10 Trends and disruptions affecting customers
5.11 Porter’s Five Forces Analysis
5.12 Key Players and Purchase Criteria
5.13 Key Conferences and Events

6 Anti-Money Laundering Market, By Component
6.1 Presentation
6.1.1 Components: Market Drivers
6.2 Remedy
6.2.1 Solutions: market drivers
6.2.2 Know Your Customer/Customer Due Diligence and Sanctions Control
6.2.3 Transaction monitoring
6.2.4 Case management and reporting
6.3 Services
6.3.1 Services: market drivers
6.3.2 Professional services Consulting services Training and education Integration & Maintenance
6.3.3 Managed Services

7 Anti-Money Laundering Market, By Mode of Deployment
7.1 Presentation
7.1.1 Mode of deployment: market drivers
7.2 Cloud
7.3 On-site

8 Anti-Money Laundering Market, By Organization Size
8.1 Presentation
8.1.1 Organization Size: Market Drivers
8.2 Small and medium enterprises
8.3 Large companies

9 Anti-Money Laundering Market, By End User
9.1 Presentation
9.1.1 End User: Market Drivers
9.2 Banking and financial institutions
9.3 Insurance
9.4 Gambling and betting

10 Anti-Money Laundering Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Strategies of Key Players
11.3 Revenue Analysis
11.4 Market Share Analysis
11.5 Ranking of Major Market Players
11.6 Business Rating Quadrant
11.6.1 Presentation
11.6.2 Product Footprint
11.7 Business Rating Quadrant
11.7.1 Stars
11.7.2 Emerging Leaders
11.7.3 Ubiquitous Players
11.7.4 Participants
11.8 Startup/SME Assessment Quadrant
11.8.1 Progressive companies
11.8.2 Sensitive companies
11.8.3 Dynamic companies
11.8.4 Starting Blocks
11.8.5 Competitive Benchmarking for Startups/SMEs
11.9 Competitive Scenario and Trends

12 company profiles
12.1 Presentation
12.2 Key Suppliers
12.2.1 Nice activation
12.2.2 Institut Sas inc.
12.2.3 Bae systems
12.2.4 Go plc Group.
12.2.5 Fico
12.2.6 Aci in the world
12.2.7 Oracle
12.2.8 Experiane
12.2.9 Fiserv
12.2.10 Lexisnexis
12.2.11 FIS
12.2.12 Nelito systems
12.2.13 Financial Services Wolters Kluwer, Inc.
12.2.14 Comarch Sa (Comarch)
12.2.15 Allsec Technologies Ltd.
12.2.16 Dixtior
12.2.17 Temenos
12.2.18 CT
12.2.19 Complianceadvantage
12.2.20 Featured space
12.2.21 Feedzai
12.2.22 Napier Ai
12.2.23 Level 1 financial solutions
12.2.24 Finacus Solutions Pvt Ltd
12.2.25 Jumio
12.2.26 chill
12.2.27 Transunion
12.3 Other Suppliers
12.3.1 Imerit
12.3.2 Imtf
12.3.3 Innovative systems
12.3.4 Sedicii
12.3.5 Trulioo
12.3.6 Searching for names
12.3.7 Datavisor Inc.
12.3.8 Gurucul

13 Appendix

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SOURCE Research and Markets

Aubrey L. Morgan