Anti-Money Laundering Market Opportunities & Forecast To 2030

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2022
Anti-Money Laundering Market Opportunities,
Demand, Trends, Insights by Geography and Growth
Opportunity
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The global anti-money laundering market reached a
value of 3 billion in 2020 and it is predicted
to exhibit huge expansion between 2021 and 2030
(forecast period). The market is being driven by
the surging incidence of money laundering cases
and the burgeoning demand for monitoring money
laundering activities. Additionally, the soaring
information technology (IT) expenditure in
several countries is also pushing up the
requirement for anti-money laundering (AML)
solutions across the world. With the growing
penetration of the internet and the rising
adoption of virtual currencies, the number of
money laundering cases is surging sharply across
the world. Furthermore, the increasing
utilization of online banking services, including
online transactions and digital payments, has
also contributed toward the mushrooming incidence
of money laundering. This has, in turn, fueled
the demand for AML solutions and software.
Besides these factors, the increasing enactment
of strict regulations regarding money laundering
by the governments of several countries is also
driving the expansion of the AML market.
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Across the world, banks, such as Danske Bank A/S,
are increasingly reporting incidents of money
laundering, which is subsequently resulting in
the imposition of heavy fines and penalties on
them. The ballooning utilization of online
banking services, increasing traffic over the
internet, and digital transfer of funds through
unidentified payment services are the major
factors responsible for the increasing number of
money laundering cases across the world. Owing to
this reason, many governments are enacting
stringent AML regulations and laws. For
example, the Reserve Bank of India (RBI) made its
digital payment security regulations more
stringent in February 2021 to improve security
and ensure compliance by banks and financial
institutions in the country. Depending on
end-user, the AML market is categorized into
insurance providers, gaming gambling sector,
and banks and other financial institutions.
Amongst these, the banks and other financial
institutions category dominated the market in
2020. This is ascribed to the growing requirement
for AML solutions among financial institutions
and banks, on account of the increasing
prevalence of illegal activities, such as frauds,
money laundering, and phishing.
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The market is also bifurcated into on-premises
and cloud, based on deployment mode. Between
these, the on-premises category contributed
higher revenue to the market in 2020. Moreover,
this category is expected to register rapid
expansion during the forecast period, due to the
greater preference for people for deploying AML
solutions on in-house systems over deploying them
on the cloud. This is credited to the fact that
the on-premises deployment mode provides better
control over various applications, platforms, and
systems. Geographically, North America
dominated the AML market in 2020. This was
because of the high penetration of the internet
in Canada and the U.S., which massively augmented
the requirement for AML services and solutions,
and the large-scale adoption of various advanced
technologies, such as machine learning (ML) and
artificial intelligence (AL) in the region. In
addition, the existence of several market players
and the high incidence of money laundering also
propelled the requirement for AML solutions in
the region during the last few years. Hence, it
can be safely deduced from the above paragraphs
that the market will register huge expansion in
the forthcoming years, primarily because of the
rising prevalence of money laundering and the
increasing implementation of stringent money
laundering laws by the governments of many
countries across the world.
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• Market Segmentation by Type
• Solutions
• Know your customer (KYC)/customer due diligence
  (CDD)
• Transaction screening and monitoring
• Case management
• Regulatory reporting
• Services
• Professional 
• Managed
• Market Segmentation by Deployment Mode
• On-Premises
• Cloud
• Market Segmentation by Organization Size
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

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• Market Segmentation by End User
• Banks and Other Financial Institutions
• Insurance Providers  
• Gaming Gambling Sector
• Market Segmentation by Region
• North America Anti-Money Laundering Market
• By type
• By deployment mode
• By organization size
• By end user
• By country U.S. and Canada
• Europe Anti-Money Laundering Market
• By type
• By deployment mode
• By organization size
• By end user
• By country Germany, France, U.K., Italy, Spain,
  and Rest of Europe

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• Asia-Pacific (APAC) Anti-Money Laundering Market
• By type
• By deployment mode
• By organization size
• By end user
• By country Japan, China, India, Australia,
  South Korea, and Rest of APAC
• Latin America (LATAM) Anti-Money Laundering
  Market
• By type
• By deployment mode
• By organization size
• By end user
• By country Brazil, Mexico, and Rest of LATAM
• Middle East and Africa (MEA) Anti-Money
  Laundering Market
• By type
• By deployment mode
• By organization size
• By end user
• By country Saudi Arabia, South Africa, and Rest
  of MEA

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• This study covers
• 1. Historical and the present size of the
  Anti-Money Laundering Market
• 2. Historical and the present size of the market
  segments and understand their comparative future
  potential
• 3. Potential of on-demand logistics services, so
  the market players make informed decisions on the
  sales of their offerings
• 4. Competitive scenario of various market
  segments across key countries in several regions
  for uncovering market opportunities for the
  stakeholders
• 5. Major players operating in the market and
  their service offerings

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