Global Anti-Money Laundering Market Analysis, 2020

The global anti-money laundering market is anticipated to promulgate at a CAGR of 18.22% during 2020-25. The rising digital payment mode adoptions, increasing volume of global traction and along with snowballing instances of money laundering and terrorist financing among BFSI sectors, and surging IT infrastructure in the banks etc. are some of the major factors stimulating the growth of the anti-laundering market in the coming years.

Moreover, galvanizing stringent compliance requirements and burgeoning demand for AML solutions are also projected to boost the market in the near future. For instance, the EU’s 5th Anti-Money Laundering Directive (AMLD 5), with effect on June 2018, modifies the 4th Anti-Money Laundering Directive (AMLD 4) that was proposed in 2016 to counterterrorism funding through money laundering. AMLD 5 aims to establish a centralized and public register of companies and their ultimate beneficial owner.

North America held the substantial market share in the global anti-money laundering market on account of amplifying mobile banking platforms for fund transactions, early implementation of AML solution and the increasing initiatives by governments and presence of major players in the region. Moreover, the paradigm shift toward digitization in financial services and transaction processes is strongly contributing to the growth of AML market during the forecasted period.

The rising trend of advance technology in the AML solution such as the Internet of Things (IoT) and Internet of Everything (IoE), has elevated the volume of data and transactions performed by the online user. Thus, it is placing a positive influence on the growth of the market in the coming years.

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The Solution segment market is projected to grow at a sturdy rate in the coming years due to rising online transactions and e-Banking facilities organizations for better customer experience. Moreover, the introduction of AI technology in AML solutions and mushrooming adoption of cloud-based solutions is placing a lucrative opportunity towards the growth of the anti-laundering market in the near future.