Global Anti-Money Laundering Software Market Forecast to 2024 - Projected to Reach $1.9 Billion
Summary
The global anti-money laundering software market was valued at $898 million in 2018 and is forecast to grow at a CAGR of around 14% to reach $1.9 billion by 2024 on account of surging demand for monitoring suspicious transaction and analyzing the customer data. Regulations for customer identification and compliances for financial institutes are strict in the US and Canada, therefore these countries are contributing to the leading share of North America in the global anti-money laundering software market. Asia-Pacific followed by Middle East & Africa are anticipated to witness significant growth on account of increasing technological advancements and rising penetration of anti-money laundering software in various end-user segments of the regions. Key market players analyzed in the research include Fiserv, Inc., NICE Actimize, ACI Worldwide, FICO Tonbeller, Oracle Corporation, etc. These companies have adopted various strategies including expansion, joint ventures, collaborations, partnerships, mergers & acquisitions, etc., to strengthen their position in the market.