Regulatory reporting solutions market estimate to reach US$ 5.2 Billion by 2023. The regulatory reporting solutions market is projected to grow US$ 21.0 Billion by 2033 at a CAGR of 14.9% from 2023 to 33.
| Attributes | Details |
|---|---|
| Estimated Year (2023) Market Value | US$ 5.2 Billion |
| Projected Year (2033) Market Value | US$ 21.0 Billion |
| CAGR% (2023 to 2033) | 14.9% |
| Top 5 Vendor Market Share | Around 33% |
Regulatory reporting solutions market currently represents nearly 60% of sales in the RegTech market. Regulatory reporting solutions are gaining traction as they assist in risk and compliance management and provide real-time data analysis with flexibility and scalability attributes.
Also it makes it ideal for type of regulatory report such as financial report, prudential reports, statistical reports, transactional reports, granular reports and other various types of reports as per jurisdiction. Cloud-based regulatory reporting software, cross regulations allows banks, insurance companies to comply with global regulatory requirements.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 14.7% |
| Jul to Dec (H2), 2021 (A) | 14.9% |
| Jan to Jun (H1),2022 Projected (P) | 15.1% |
| Jan to Jun (H1),2022 Outlook (O) | 15.3% |
| Jul to Dec (H2), 2022 Outlook (O) | 15.5% |
| Jul to Dec (H2), 2022 Projected (P) | 15.4% |
| Jan to Jun (H1), 2023 Projected (P) | 15.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 60 |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+)10 |
| BPS Change: H2, 2022 (O) - H2, 2022 (A) | (+)60 |
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The regulatory reporting solutions demand is estimated to rise at 14.9% CAGR between 2023 and 2033 in comparison with 10.2% CAGR registered during 2018 to 2022. Banks and various financial institutions are adopting regulatory reporting solutions to automate the KYC data collection procedures, analyze and identify the key rules and related changes over the time.
Also, to comply with changing regulations, financial institutions are adopting new models and running them concurrently. Financial institutions seek new technologies that help them to track, manage, and trace the liquidity risk and regulatory reporting data and also to better understand the crisis impact on the balance sheet and financial liquidity.
Using the right technology and solutions helps banks and financial institution to smoothly navigate regulatory reporting and financial liquidity issues. Companies are reducing regulatory costs by utilizing third-party regulatory reporting services.
The global regulatory reporting solutions industry is anticipated to grow from a valuation of US$ 4.6 Billion in 2022 to US$ 21.0 Billion by 2033.
The rising number of fraudulent activities and an increasing need for have resulted in the development of RegTech (Regulatory Technology) solutions for regulatory reporting.
The implementation of these solutions helps in reducing compliance costs and improves efficiency. It also speeds up business processes, enhances their reliability, and reduces hassle for customers and the risk of compliance failures.
Regulatory reporting consists of many components such as financial reporting, transactional reporting, prudential reporting, granular reporting, statistical reporting, and others. To go through hassle-free reporting for such humongous transactions of financial institutions, RegTech solutions have seen a rise in demand.
RegTech solutions include transaction monitoring, risk and compliance management, regulatory reporting, identity and control management, and regulatory intelligence, among others. Customers can choose an appropriate RegTech solution depending on their preference owing to the presence of a wide variety of solutions in the market.
Principal Consultant
Individual transactions in financial institutions are increasing at an exponential rate. Therefore, regulatory reporting has become important in many countries around the world. Demand for faster and at the same time, accurate regulatory reporting such as financial performance, strategies and practices, and accounting policies requires an automated registry of regulatory reporting per transaction. It creates the need for a solution that has its own guidelines in line with regulations of government as well as institutions.
AI is enjoying broad adoption across risk and compliance, and regulatory reporting. Several financial institutions use AI as a regulatory reporting solution. AI is increasingly being viewed as a standard statistical toolkit for institutions, which allows them to rapidly add sophisticated data management capabilities according to regulations and policies.
However, this new tool may create organizational challenges that are much larger and more complex than spreadsheet environments.
Strong Presence of Regulatory Reporting Solution Providers Driving Sales in the United kingdom
Europe region is predicted to remain one of the most attractive markets for regulatory reporting solutions. According to the study, the United kingdom regulatory reporting solutions market is estimated to grow by 5.7X during the forecast period.
The United kingdom is the largest market for regulatory reporting solutions due to the strong presence of regulatory reporting solutions providers. Regulatory reporting requirements for banks are ever increasing, posing significant reporting challenge for banks in United kingdom Timely completion of all the documents and templates, ensuring consistency among them and compliance with regulatory requirements was a challenge for firms in United kingdom
Banking sector in United kingdom is majorly adopting the regulatory reporting solutions as these solutions are helping banks in preparing documents and meet the regulators expectation whilst ensuring consistency.
Surging Demand for Digital Transformation Strategy in the USA to Drive Growth
The regulatory reporting solutions demand in the USA is expected to account for nearly 84.1% of North America market share through 2033. The COVID-19 pandemic has led financial institutions in USA to re-think their digital transformation strategy as the laggards have been facing a lot of issues in managing the regulatory compliance. The regulatory documents are not moving because of their dependency on on-premises systems, which might lead to various instance of non-compliance and additional penalties.
Financial institutions that were early adopters of RegTech in the USA will be capable to sail through these kinds of economic turmoil, and the subsequent impact will be the increasing concentration on adopting modern technologies across finance and non-finance industry.
Banking Sector to Emerge as Chief Regulatory Reporting Solutions End User in India
The sales revenue in India is estimated to increase at an impressive rate of around 19.1% CAGR between 2023 and 2033. Data integrity and system integration are the major challenge that leads to data inaccuracy in data quality and inconsistency in maintaining data granularity.
Around 60% of banks in India are spending around 50% of their time to prepare the regulatory reports and around 20% are managing and dedicating 50% of their time for review, analytics, and sign-offs. Banking sector in the country is increasingly adopting various analytical techniques for maintaining and controlling their internal data. Ratio, trend, and variance analysis and different analytical techniques are being applied for ensuring the accuracy and completeness of data.
However, there are still many of banks that are not having appropriate technology for performing analytics easily. So the banks are understanding the significance of automation for reducing the manual intervention and are adopting regulatory reporting solutions for streamlining the process of regulatory reporting, automating the recurring processes for simplifying process of report generation and managing that data that is collected from various sources by shifting to centralized data sources.
| Countries | BPS Change (H2'22 (O) - H2'22 (P)) |
|---|---|
| USA | (+)12 |
| United kingdom | (+)14 |
| Japan | (+)9 |
| India | (+)9 |
| China | (+)8 |
The BPS change for H2’22(O)-H2’22(P) in USA was of (+)12 units. Application of technologies such as big data analytics and AI drive the demand for regulatory reporting solutions. As firms seek to implement automation for regulation, the BPS change witnessed in India was of (+)9 units.
Strong laws regarding compliance and regulations and need for security allowed the United kingdom market to see a BPS change of (+)14 units. The need for regulation has increased the use of software for the purpose of automation in Japan, allowing the market for regulatory reporting solutions to witness a BPS change of (+)9 units.
The government initiatives to boost the state of financial firms in China and the growing trend of implementing technologies for efficiency, allow the Chinese market to witness a BPS change of (+)8 units for the regulatory reporting solutions market.
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Regulatory Reporting Software to Remain Preferred Solution
The cloud-based software segment is expected to account for a higher market share in the coming years. This segment is predicted to grow by absolute opportunity of US$ 709 Million by the end of 2033.
National regulators are becoming increasingly cautious about the final figures reported by financial institutions, and even more so about the quality and governance around their regulatory submissions. Financial institutions, therefore, need to put additional effort into making sure that their regulatory reporting processes are of the highest standards. To fulfil such demands, the emergence of Cloud-Based SaaS (Software as a Service) solutions are being given by many regulatory reporting firms around the world.
These cloud-based SaaS solutions have a huge advantage in reporting over standard annual-based manual reporting, such as single cloud-based SaaS platform hosted on a highly secure infrastructure for all of the institution’s regulatory reporting needs, pre-configured regulatory reports to meet requirements, guidelines from multiple and multi-national authorities and jurisdictions, and easy adoption of the latest regulations and ongoing regulatory maintenance.
These solutions prepare, validate, and submit all reports easily with an intuitive interface and user-friendly functionalities. They reduce the total cost of ownership and increase cost predictability.
Banking Sector Will Emerge as Leading End User
The banking segment is expected to contribute a revenue share of close to 36% in 2021, and is expected to showcase a strong CAGR growth over the upcoming years owing to rapid digitization. The adoption of regulatory reporting solutions is increasing in banking sector due to shifting regulatory requirements and to monitor the increasing number of fraudulent activities.
There is increasing adoption of cloud-based regulatory reporting solution as they are intuitive to use and offers the most flexibility for administrators. Another key benefit that has helped fuel the growing popularity of cloud regulatory reporting solutions is scalability.
Regulatory reporting solutions market players are focusing on various strategies for increasing their investments in research and development to support future technologies. In addition, several companies are acquiring and entering into partnership with other companies to develop their own regulatory reporting solutions to serve their customers and reduce the churn rate
| Attribute | Details |
|---|---|
| Market value in 2022 | US$ 5,120.5 Million |
| Market CAGR 2023 to 2033 | 14.7% |
| Share of top 5 players | Around 33% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
| Key Segments Covered | Solution, Industry and Region |
| Key Companies Profiled |
Moody’s Analytics; Wolters Kluwer; Regnology; Oracle; SS&C Technologies; Saude Labs; Vermeg; Workviva; Prima Solutions; Matterhorn Reporting Services; Sopra Banking Software; Sovos Compaliance; Bloomberg; Fintelix; Smart Stram Technologies |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is expected to reach US$ 5.2 billion in 2023.
The market is anticipated to expand at a CAGR of 14.9%.
India is expected to expand at a CAGR of 19.1% over the forecast period.
High demand for digital transformation strategy and increasing providers in the market are fueling the market growth.
The banking segment is projected to contribute toward significant sales.
1. Executive Summary | Regulatory Reporting Solutions Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Regulatory Reporting Solutions
4.1.1. Subscription Pricing Model
4.1.2. Perpetual Licensing
4.2. Average Pricing Analysis Benchmark
5. Global Market Demand (in Value in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022
5.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.2. Forecast Factors - Relevance & Impact
6.3. Value Chain
6.4. COVID-19 Crisis – Impact Assessment
6.4.1. Current Statistics
6.4.2. Short-Mid-Long Term Outlook
6.4.3. Likely Rebound
6.5. Market Dynamics
6.5.1. Drivers
6.5.2. Restraints
6.5.3. Opportunities
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Solution
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Million) Analysis By Solution, 2018 to 2022
7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Solution, 2022 to 2033
7.3.1. Regulatory Reporting Software
7.3.1.1. Cloud-based
7.3.1.2. On-premises
7.3.2. Services
7.3.2.1. Managed Services
7.3.2.2. Professional Services
7.3.2.2.1. Consulting
7.3.2.2.2. Risk & Compliance
7.3.2.2.3. Implementation & Integration
7.3.2.2.4. Support & Maintenance
7.4. Market Attractiveness Analysis By Solution
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Industry, 2018 to 2022
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Industry, 2022 to 2033
8.3.1. Banks
8.3.2. Insurance
8.3.3. Wealth & Asset Management
8.3.4. Securities & Investments
8.3.5. Others
8.4. Market Attractiveness Analysis By Industry
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. East Asia
9.3.5. South Asia Pacific
9.3.6. Middle East and Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
10.1. Introduction
10.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.3.1. By Solution
10.3.2. By Industry
10.3.3. By Country
10.3.3.1.USA
10.3.3.2. Canada
10.4. Market Attractiveness Analysis
10.4.1. By Solution
10.4.2. By Industry
10.4.3. By Country
10.5. Market Trends
10.6. Key Market Participants - Intensity Mapping
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
11.1. Introduction
11.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.3.1. By Solution
11.3.2. By Industry
11.3.3. By Country
11.3.3.1. Brazil
11.3.3.2. Mexico
11.3.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
11.4.1. By Solution
11.4.2. By Industry
11.4.3. By Country
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.3.1. By Solution
12.3.2. By Industry
12.3.3. By Country
12.3.3.1. Germany
12.3.3.2. Italy
12.3.3.3. France
12.3.3.4. United kingdom
12.3.3.5. Spain
12.3.3.6. BENELUX
12.3.3.7. Russia
12.3.3.8. Rest of Europe
12.4. Market Attractiveness Analysis
12.4.1. By Solution
12.4.2. By Industry
12.4.3. By Country
13. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.3.1. By Solution
13.3.2. By Industry
13.3.3. By Country
13.3.3.1. India
13.3.3.2. Indonesia
13.3.3.3. Malaysia
13.3.3.4. Singapore
13.3.3.5. Australia & New Zealand
13.3.3.6. Rest of South Asia and Pacific
13.4. Market Attractiveness Analysis
13.4.1. By Solution
13.4.2. By Industry
13.4.3. By Country
14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.3.1. By Solution
14.3.2. By Industry
14.3.3. By Country
14.3.3.1. China
14.3.3.2. Japan
14.3.3.3. South Korea
14.4. Market Attractiveness Analysis
14.4.1. By Solution
14.4.2. By Industry
14.4.3. By Country
15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.3.1. By Solution
15.3.2. By Industry
15.3.3. By Country
15.3.3.1. GCC Countries
15.3.3.2. Turkey
15.3.3.3. South Africa
15.3.3.4. Rest of Middle East and Africa
15.4. Market Attractiveness Analysis
15.4.1. By Solution
15.4.2. By Industry
15.4.3. By Country
16. Key Countries Analysis Market
16.1.USA Market Analysis
16.1.1. By Solution
16.1.2. By Industry
16.2. Canada Market Analysis
16.2.1. By Solution
16.2.2. By Industry
16.3. Mexico Market Analysis
16.3.1. By Solution
16.3.2. By Industry
16.4. Brazil Market Analysis
16.4.1. By Solution
16.4.2. By Industry
16.5. Germany Market Analysis
16.5.1. By Solution
16.5.2. By Industry
16.6. Italy Market Analysis
16.6.1. By Solution
16.6.2. By Industry
16.7. France Market Analysis
16.7.1. By Solution
16.7.2. By Industry
16.8. United kingdom Market Analysis
16.8.1. By Solution
16.8.2. By Industry
16.9. Spain Market Analysis
16.9.1. By Solution
16.9.2. By Industry
16.10. BENELUX Market Analysis
16.10.1. By Solution
16.10.2. By Industry
16.11. Russia Market Analysis
16.11.1. By Solution
16.11.2. By Industry
16.12. Rest of Europe Market Analysis
16.12.1. By Solution
16.12.2. By Industry
16.13. China Market Analysis
16.13.1. By Solution
16.13.2. By Industry
16.14. Japan Market Analysis
16.14.1. By Solution
16.14.2. By Industry
16.15. South Korea Market Analysis
16.15.1. By Solution
16.15.2. By Industry
16.16. India Market Analysis
16.16.1. By Solution
16.16.2. By Industry
16.17. Malaysia Market Analysis
16.17.1. By Solution
16.17.2. By Industry
16.18. Indonesia Market Analysis
16.18.1. By Solution
16.18.2. By Industry
16.19. Singapore Market Analysis
16.19.1. By Solution
16.19.2. By Industry
16.20. Australia and New Zealand Market Analysis
16.20.1. By Solution
16.20.2. By Industry
16.21. GCC Countries Market Analysis
16.21.1. By Solution
16.21.2. By Industry
16.22. Turkey Market Analysis
16.22.1. By Solution
16.22.2. By Industry
16.23. South Africa Market Analysis
16.23.1. By Solution
16.23.2. By Industry
16.24. Rest of Middle East and Africa Market Analysis
16.24.1. By Solution
16.24.2. By Industry
17. Market Structure Analysis
17.1. Market Analysis by Tier of Companies
17.2. Market Share Analysis of Top Players
17.3. Market Presence Analysis
18. Competition Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Deep Dive
18.3.1. Moody's Analytics
18.3.1.1. Business Overview
18.3.1.2. Solution Portfolio
18.3.1.3. Profitability by Market Segments (Business Segments/Region)
18.3.1.4. Key Strategy & Developments
18.3.2. Wolters Kluwer
18.3.3. Regnology
18.3.4. Oracle
18.3.5. SS&C Technologies
18.3.6. Saude Labs
18.3.7. Vermeg
18.3.8. Workviva
18.3.9. Prima Solutions
18.3.10. Matterhorn Reporting Services
18.3.11. Sopra Banking Software
18.3.12. Sovos Compliance
18.3.13. Bloomberg
18.3.14. Fintellix
18.3.15. Smart Stream Technologies
19. Assumptions and Acronyms Used
20. Research Methodology
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Regulatory Reporting Solutions Market
