Global Anti-money Laundering Market Size, Share & Trends Analysis Report by Component (Software, Services), by Product Type, by Deployment, by End-use, by Region, and Segment Forecasts, 2021-2028

The global anti-money laundering market size is expected to reach USD 3.19 billion by 2028. It is projected to register a CAGR of 15.6% from 2021 to 2028. The growth can be attributed to the growing volume of non-cash transactions, coupled with a rise in technological developments in the fintech sector. In recent years, banks have increased their IT expenditure toward the adoption of advanced solutions and technologies to improve the security of their services and products.

The rapid developments in artificial intelligence, big data, machine learning, and other technologies are creating new opportunities for the market. The rising risk of financial crimes and fraudulent transactions, arising from factors such as the vulnerabilities inherent to digitization and automation, is compelling financial institutions to employ technologies such as machine learning for identifying suspicious transactions on a real-time basis. As a result, various companies are making efforts to deploy machine learning capabilities in anti money laundering solutions. For instance, in November 2020, Computer Services, Inc., a provider of end-to-end regtech and fintech solutions, announced a partnership with Featurespace, an enterprise financial crime prevention software provider. Through this partnership, the companies launched the WatchDOG AML, which uses machine learning capabilities to identify suspicious activities on a real-time basis.

Government bodies across the world are making efforts to promote awareness about anti money laundering regulations. For instance, in 2019, the New Zealand government spent USD 1.083 million on Keep Our Money Clean, an anti money laundering campaign. Through this campaign, the government tried to create public awareness regarding the legislative changes in anti money laundering acts to enable related businesses to educate their customers about new obligations.

The COVID-19 pandemic is anticipated to impact the market growth favorably in near future. The pandemic has led to an increase in the use of mobile-based payment solutions, remote work, and online sales, which are some of the major factors driving the demand for anti money laundering solutions globally. Financial Action Task Force an intergovernmental organization has encouraged financial institutions to provide risk-based flexibility in the implementation of anti money laundering in response to the effects of the pandemic.

Anti-money Laundering Market Report Highlights

In terms of component, the software segment is expected to retain its dominance over the forecast period. This can be attributed to the fact that software can help organizations reduce the legal risk associated with money laundering activities
In terms of product type, the customer identity management segment dominated the market in 2020 and is expected to witness promising growth during the forecast period as well. Advancements in technologies that can easily access an individuals' personal information have increased the demand for customer identity management solutions
In terms of deployment, the on-premise segment dominated the market in 2020. The on-premise deployment of anti money laundering solutions grants businesses full control over the applications, platforms, systems, and data that their in-house IT teams can handle
In terms of end use, the BFSI segment dominated the market in 2020. The BFSI sector is widely adopting anti money laundering solutions as they help financial institutions to efficiently comply with national and international regulations as well as provide secured services to customers
Increasing money laundering cases in emerging economies, such as China and India, are expected to create growth opportunities for the market in the Asia Pacific region over the forecast period

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Frequently Asked Questions about the Anti-money Laundering Market

What is the estimated value of the Anti-money Laundering Market?

The Anti-money Laundering Market was estimated to be valued at $1.16 Billion in 2021.

What is the growth rate of the Anti-money Laundering Market?

The growth rate of the Anti-money Laundering Market is 15.6%, with an estimated value of $3.19 Billion by 2028.

What is the forecasted size of the Anti-money Laundering Market?

The Anti-money Laundering Market is estimated to be worth $3.19 Billion by 2028.

Who are the key companies in the Anti-money Laundering Market?

Key companies in the Anti-money Laundering Market include NICE Actimize, Tata Consultancy Services Limited, Trulioo, Cognizant Technology Solutions Corporation, ACI Worldwide, Inc., SAS Institute Inc., Fiserv, Inc., Oracle Corporation, BAE Systems and Accenture.

Report Attribute	Details
No. of Pages	150
Published	February 2021
Forecast Period	2021 - 2028
Estimated Market Value ( USD ) in 2021	$ 1.16 Billion
Forecasted Market Value ( USD ) by 2028	$ 3.19 Billion
Compound Annual Growth Rate	15.6%
Regions Covered	Global
No. of Companies Mentioned	12

Chapter 1 Methodology and Scope

1.1 Market Segmentation and Scope
1.2 Market Definition
1.3 Methodology
1.4 Information Procurement
1.4.1 Purchased Database
1.4.2 Internal database
1.4.3 Secondary sources & third-party perspectives
1.4.4 Primary Research
1.5 Information Analysis
1.5.1 Data Analysis Model
1.6 Market Formulation & Data Visualization
1.7 Data Validation & Publishing
1.8 List of Abbreviations

Chapter 2 Executive Summary

2.1 Market Snapshot
2.2 Market Outlook
2.2.1 Global AML market, 2016 - 2028 (USD Million)
2.2.2 Global AML market by region, 2016 - 2028 (USD Million)
2.3 Segment Outlook
2.3.1 Global AML market by component, 2016 - 2028 (USD Million)
2.3.2 Global AML market, by product type, 2016 - 2028 (USD Million)
2.3.3 Global AML market, by deployment, 2016 - 2028 (USD Million)
2.3.4 Global AML market, by end use, 2016 - 2028 (USD Million)

Chapter 3 AML Market Variables, Trends & Scope

3.1 Market Lineage Outlook
3.1.1 Related/Ancillary market outlook
3.1.1.1 Cybersecurity
3.1.1.2 Enterprise governance, risk and compliance
3.2 Penetration and Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increasing efforts to reduce money laundering cases
3.4.1.2 The growing need for organizations to comply with stringent regulatory requirements
3.4.1.3 Growing volume of non-cash transactions, coupled with rapid developments in the fintech sector
3.4.2 Market Challenge Analysis
3.4.2.1 Limited availability of data for risk assessment
3.5 AML Market Analysis Tools
3.5.1 Industry Analysis – Porters
3.5.2 PEST Analysis

Chapter 4 Competitive & Vendor Landscape

4.1 Major Deals and Strategic Alliances Outlook
4.2 Key Company Ranking Analysis, 2020

Chapter 5 Anti-Money Laundering Market: Component Estimates and Trend Analysis

5.1 AML Market: Component Movement Analysis
5.1.1 Software, 2016 - 2028 (USD Million)
5.1.2 Services, 2016 - 2028 (USD Million)

Chapter 6 Anti-Money Laundering Market: Product Type Estimates and Trend Analysis

6.1 AML Market: Product Type Movement Analysis
6.1.1 Compliance Management, 2016 - 2028 (USD Million)
6.1.2 Currency Transaction Reporting, 2016 - 2028 (USD Million)
6.1.3 Customer Identity Management, 2016 - 2028 (USD Million)
6.1.4 Transaction Monitoring, 2016 - 2028 (USD Million)

Chapter 7 Anti-Money Laundering Market: Deployment Estimates and Trend Analysis

7.1 AML Market: Deployment Movement Analysis
7.1.1 Cloud, 2016 - 2028 (USD Million)
7.1.2 On-Premise, 2016 - 2028 (USD Million)

Chapter 8 Anti-Money Laundering Market: End Use Estimates and Trend Analysis

8.1 AML Market: End Use Movement Analysis
8.1.1 BFSI, 2016 - 2028 (USD Million)
8.1.2 Government, 2016 - 2028 (USD Million)
8.1.3 Healthcare, 2016 - 2028 (USD Million)
8.1.4 IT & Telecom, 2016 - 2028 (USD Million)
8.1.5 Other End Use, 2016 - 2028 (USD Million)

Chapter 9 Anti-Money Laundering Market: Regional Estimates and Trend Analysis

9.1 AML Market: Regional Movement Analysis
9.2 North America
9.2.1 North America AML market, by component 2016 - 2028 (USD Million)
9.2.2 North America AML market, by product type, 2016 - 2028 (USD Million)
9.2.3 North America AML market, by deployment, 2016 - 2028 (USD Million)
9.2.4 North America AML market, by end use, 2016 - 2028 (USD Million)
9.2.5 U.S.
9.2.5.1 U.S. AML market, by component 2016 - 2028 (USD Million)
9.2.5.2 U.S. AML market, by product type, 2016 - 2028 (USD Million)
9.2.5.3 U.S. AML market, by deployment, 2016 - 2028 (USD Million)
9.2.5.4 U.S. AML market, by end use, 2016 - 2028 (USD Million)
9.2.6 Canada
9.2.6.1 Canada AML market, by component 2016 - 2028 (USD Million)
9.2.6.2 Canada AML market, by product type, 2016 - 2028 (USD Million)
9.2.6.3 Canada AML market, by deployment, 2016 - 2028 (USD Million)
9.2.6.4 Canada AML market, by end use, 2016 - 2028 (USD Million)
9.3 Europe
9.3.1 Europe AML market, by component 2016 - 2028 (USD Million)
9.3.2 Europe AML market, by product type, 2016 - 2028 (USD Million)
9.3.3 Europe AML market, by deployment, 2016 - 2028 (USD Million)
9.3.4 Europe AML market, by end use, 2016 - 2028 (USD Million)
9.3.5 U.K.
9.3.5.1 U.K. AML market, by component 2016 - 2028 (USD Million)
9.3.5.2 U.K. AML market, by product type, 2016 - 2028 (USD Million)
9.3.5.3 U.K. AML market, by deployment, 2016 - 2028 (USD Million)
9.3.5.4 U.K. AML market, by end use, 2016 - 2028 (USD Million)
9.3.6 Germany
9.3.6.1 Germany AML market, by component 2016 - 2028 (USD Million)
9.3.6.2 Germany AML market, by product type, 2016 - 2028 (USD Million)
9.3.6.3 Germany AML market, by deployment, 2016 - 2028 (USD Million)
9.3.6.4 Germany AML market, by end use, 2016 - 2028 (USD Million)
9.4 Asia Pacific
9.4.1 Asia Pacific AML market, by component 2016 - 2028 (USD Million)
9.4.2 Asia Pacific AML market, by product type, 2016 - 2028 (USD Million)
9.4.3 Asia Pacific AML market, by deployment, 2016 - 2028 (USD Million)
9.4.4 Asia Pacific AML market, by end use, 2016 - 2028 (USD Million)
9.4.5 China
9.4.5.1 China AML market, by component 2016 - 2028 (USD Million)
9.4.5.2 China AML market, by product type, 2016 - 2028 (USD Million)
9.4.5.3 China AML market, by deployment, 2016 - 2028 (USD Million)
9.4.5.4 China AML market, by end use, 2016 - 2028 (USD Million)
9.4.6 India
9.4.6.1 India AML market, by component 2016 - 2028 (USD Million)
9.4.6.2 India AML market, by product type, 2016 - 2028 (USD Million)
9.4.6.3 India AML market, by deployment, 2016 - 2028 (USD Million)
9.4.6.4 India AML market, by end use, 2016 - 2028 (USD Million)
9.4.7 Japan
9.4.7.1 Japan AML market, by component 2016 - 2028 (USD Million)
9.4.7.2 Japan AML market, by product type, 2016 - 2028 (USD Million)
9.4.7.3 Japan AML market, by deployment, 2016 - 2028 (USD Million)
9.4.7.4 Japan AML market, by end use, 2016 - 2028 (USD Million)
9.5 Latin America
9.5.1 Latin America AML market, by component 2016 - 2028 (USD Million)
9.5.2 Latin America AML market, by product type, 2016 - 2028 (USD Million)
9.5.3 Latin America AML market, by deployment, 2016 - 2028 (USD Million)
9.5.4 Latin America AML market, by end use, 2016 - 2028 (USD Million)
9.5.5 Brazil
9.5.5.1 Brazil AML market, by component 2016 - 2028 (USD Million)
9.5.5.2 Brazil AML market, by product type, 2016 - 2028 (USD Million)
9.5.5.3 Brazil AML market, by deployment, 2016 - 2028 (USD Million)
9.5.5.5 Brazil AML market, by end use, 2016 - 2028 (USD Million)
9.5.6 Mexico
9.5.6.1 Mexico AML market, by component 2016 - 2028 (USD Million)
9.5.6.2 Mexico AML market, by product type, 2016 - 2028 (USD Million)
9.5.6.3 Mexico AML market, by deployment, 2016 - 2028 (USD Million)
9.5.6.4 Mexico AML market, by end use, 2016 - 2028 (USD Million)
9.6 Middle East & Africa
9.6.1 Middle East & Africa AML market, by component 2016 - 2028 (USD Million)
9.6.2 Middle East & Africa AML market, by product type, 2016 - 2028 (USD Million)
9.6.3 Middle East & Africa AML market, by deployment, 2016 - 2028 (USD Million)
9.6.4 Middle East & Africa AML market, by end use, 2016 - 2028 (USD Million)

Chapter 10 Competitive Landscape

10.1 NICE Actimize
10.1.1 Company overview
10.1.2 Financial performance (NICE – Parent company)
10.1.3 Product benchmarking
10.1.4 Strategic initiatives
10.2 Tata Consultancy Services Limited
10.2.1 Company overview
10.2.2 Financial performance
10.2.3 Product benchmarking
10.2.4 Strategic initiatives
10.3 Trulioo
10.3.1 Company overview
10.3.2 Product benchmarking
10.3.3 Strategic initiatives
10.4 Cognizant Technology Solutions Corporation
10.4.1 Company overview
10.4.2 Financial performance
10.4.3 Product benchmarking
10.5 ACI Worldwide, Inc.
10.5.1 Company overview
10.5.2 Financial performance
10.5.3 Product benchmarking
10.5.4 Strategic initiatives
10.6 SAS Institute Inc.
10.6.1 Company overview
10.6.2 Financial performance
10.6.3 Product benchmarking
10.6.4 Strategic initiatives
10.7 Fiserv, Inc.
10.7.1 Company overview
10.7.2 Financial performance
10.7.3 Product benchmarking
10.7.4 Strategic initiatives
10.8 Oracle Corporation
10.8.1 Company overview
10.8.2 Financial performance
10.8.3 Product benchmarking
10.8.4 Strategic initiatives
10.9 BAE Systems
10.9.1 Company overview
10.9.2 Financial performance
10.9.3 Product benchmarking
10.9.4 Strategic initiatives
10.10 Accenture
10.10.1 Company overview
10.10.2 Financial Performance
10.10.3 Product benchmarking
10.10.4 Strategic initiatives
10.11 Open Text Corporation
10.11.1 Company overview
10.11.2 Financial performance
10.11.3 Product benchmarking
10.11.4 Strategic initiatives
10.12 Experian Information Solutions, Inc.
10.12.1 Company overview
10.12.2 Financial performance
10.12.3 Product benchmarking
10.12.4 Strategic initiatives
10.13 List of Prominent Market Players

List of Tables

Table 1 List of Abbreviation
Table 2 Global AML market, 2016 - 2028 (USD Million)
Table 3 Global AML market by region, 2016 - 2028 (USD Million)
Table 4 Global AML market by component, 2016 - 2028 (USD Million)
Table 5 Global AML market, by product type, 2016 - 2028 (USD Million)
Table 6 Global AML market, by deployment, 2016 - 2028 (USD Million)
Table 7 Global AML market, by end use, 2016 - 2028 (USD Million)
Table 8 Global software market by region, 2016 - 2028 (USD Million)
Table 9 Global services market by region, 2016 - 2028 (USD Million)
Table 10 Global compliance management market by region, 2016 - 2028 (USD Million)
Table 11 Global currency transaction reporting market by region, 2016 - 2028 (USD Million)
Table 12 Global customer identity management market by region, 2016 - 2028 (USD Million)
Table 13 Global transaction monitoring market by region, 2016 - 2028 (USD Million)
Table 14 Global cloud market by region, 2016 - 2028 (USD Million)
Table 15 Global on-premise market by region, 2016 - 2028 (USD Million)
Table 16 Global BFSI market by region, 2016 - 2028 (USD Million)
Table 17 Global government market by region, 2016 - 2028 (USD Million)
Table 18 Global healthcare market by region, 2016 - 2028 (USD Million)
Table 19 Global IT & telecom market by region, 2016 - 2028 (USD Million)
Table 20 Global other end use market by region, 2016 - 2028 (USD Million)
Table 21 North America AML market, by component 2016 - 2028 (USD Million)
Table 22 North America AML market, by product type, 2016 - 2028 (USD Million)
Table 23 North America AML market, by deployment, 2016 - 2028 (USD Million)
Table 24 North America AML market, by end use, 2016 - 2028 (USD Million)
Table 25 U.S. AML market, by component 2016 - 2028 (USD Million)
Table 26 U.S. AML market, by product type, 2016 - 2028 (USD Million)
Table 27 U.S. AML market, by deployment, 2016 - 2028 (USD Million)
Table 28 U.S. AML market, by end use, 2016 - 2028 (USD Million)
Table 29 Canada AML market, by component 2016 - 2028 (USD Million)
Table 30 Canada AML market, by product type, 2016 - 2028 (USD Million)
Table 31 Canada AML market, by deployment, 2016 - 2028 (USD Million)
Table 32 Canada AML market, by end use, 2016 - 2028 (USD Million)
Table 33 Europe AML market, by component 2016 - 2028 (USD Million)
Table 34 Europe AML market, by product type, 2016 - 2028 (USD Million)
Table 35 Europe AML market, by deployment, 2016 - 2028 (USD Million)
Table 36 Europe AML market, by end use, 2016 - 2028 (USD Million)
Table 37 U.K. AML market, by component 2016 - 2028 (USD Million)
Table 38 U.K. AML market, by product type, 2016 - 2028 (USD Million)
Table 39 U.K. AML market, by deployment, 2016 - 2028 (USD Million)
Table 40 U.K. AML market, by end use, 2016 - 2028 (USD Million)
Table 41 Germany AML market, by component 2016 - 2028 (USD Million)
Table 42 Germany AML market, by product type, 2016 - 2028 (USD Million)
Table 43 Germany AML market, by deployment, 2016 - 2028 (USD Million)
Table 44 Germany AML market, by end use, 2016 - 2028 (USD Million)
Table 45 Asia Pacific AML market, by component 2016 - 2028 (USD Million)
Table 46 Asia Pacific AML market, by product type, 2016 - 2028 (USD Million)
Table 47 Asia Pacific AML market, by deployment, 2016 - 2028 (USD Million)
Table 48 Asia Pacific AML market, by end use, 2016 - 2028 (USD Million)
Table 49 China AML market, by component 2016 - 2028 (USD Million)
Table 50 China AML market, by product type, 2016 - 2028 (USD Million)
Table 51 China AML market, by deployment, 2016 - 2028 (USD Million)
Table 52 China AML market, by end use, 2016 - 2028 (USD Million)
Table 53 India AML market, by component 2016 - 2028 (USD Million)
Table 54 India AML market, by product type, 2016 - 2028 (USD Million)
Table 55 India AML market, by deployment, 2016 - 2028 (USD Million)
Table 56 India AML market, by end use, 2016 - 2028 (USD Million)
Table 57 Japan AML market, by component 2016 - 2028 (USD Million)
Table 58 Japan AML market, by product type, 2016 - 2028 (USD Million)
Table 59 Japan AML market, by deployment, 2016 - 2028 (USD Million)
Table 60 Japan AML market, by end use, 2016 - 2028 (USD Million)
Table 61 Latin America AML market, by component 2016 - 2028 (USD Million)
Table 62 Latin America AML market, by product type, 2016 - 2028 (USD Million)
Table 63 Latin America AML market, by deployment, 2016 - 2028 (USD Million)
Table 64 Latin America AML market, by end use, 2016 - 2028 (USD Million)
Table 65 Brazil AML market, by component 2016 - 2028 (USD Million)
Table 66 Brazil AML market, by product type, 2016 - 2028 (USD Million)
Table 67 Brazil AML market, by deployment, 2016 - 2028 (USD Million)
Table 68 Brazil AML market, by end use, 2016 - 2028 (USD Million)
Table 69 Mexico AML market, by component 2016 - 2028 (USD Million)
Table 70 Mexico AML market, by product type, 2016 - 2028 (USD Million)
Table 71 Mexico AML market, by deployment, 2016 - 2028 (USD Million)
Table 72 Mexico AML market, by end use, 2016 - 2028 (USD Million)
Table 73 Middle East & Africa AML market, by component 2016 - 2028 (USD Million)
Table 74 Middle East & Africa AML market, by product type, 2016 - 2028 (USD Million)
Table 75 Middle East & Africa AML market, by deployment, 2016 - 2028 (USD Million)
Table 76 Middle East & Africa AML market, by end use, 2016 - 2028 (USD Million)

List of Figures

Fig. 1 AML market segmentation
Fig. 2 Methodology
Fig. 3 Primary Research Pattern
Fig. 4 Information analysis
Fig. 5 Data Analysis Model
Fig. 6 Data Validation & Publishing
Fig. 7 AML: Market Snapshot
Fig. 8 Cybersecurity: Regional outlook
Fig. 9 AML market: Penetration & growth prospect mapping
Fig. 10 AML market: Value chain analysis
Fig. 11 AML market: Driver impact analysis
Fig. 12 AML market: Challenge impact analysis
Fig. 13 AML market: Porter’s five forces analysis
Fig. 14 AML market: PEST analysis
Fig. 15 AML market analysis: Component segment analysis
Fig. 16 AML market analysis: Product type segment analysis
Fig. 17 AML market analysis: Deployment segment analysis
Fig. 18 AML market analysis: End use segment analysis
Fig. 19 AML market analysis: Regional segment analysis