At 25.2% CAGR, Asia Pacific Regtech Market is Projected to be Worth US$ 13,034.09 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific regtech market was valued at US$ 2,157.14 million in 2023 and is expected to reach US$ 13,034.09 million by 2031, registering a CAGR of 25.2% from 2023 to 2031. Low entry barriers for SaaS-based solutions and digitization of business operations are among the critical factors attributed to drive the Asia Pacific regtech market growth.

Efficient and automated regulatory compliance solutions are becoming crucial for businesses with the increasing reliance on digital platforms and processes. Regtech solutions help them streamline compliance processes and ensure adherence to regulatory requirements. According to Business Market Insights analysis, more than 90% of organizations are engaged in making efforts to embrace digitalization; 85% of executives in top companies state that digitization is a key priority of their businesses. Additionally, more than 88% of all businesses have plans to implement a digital-first company strategy. Regtech solutions enable businesses to reduce manual efforts and minimize human errors. Moreover, the adoption of Regtech solutions provides improved traceability, along with bringing improvements in the auditing of compliance activities. Their robust documentation and reporting capabilities make it easier for businesses to demonstrate compliance with regulatory authorities. Thus, the ongoing digitization of business operations propels the growth of the Asia Pacific regtech market.

On the contrary, high development and deployment costs hamper the growth of Asia Pacific regtech market.

By component, the Asia Pacific regtech market is bifurcated into solutions and services. The solutions held 63.6% share of Asia Pacific regtech market share in 2023, amassing US$ 1,372.27 million. It is projected to garner US$ 8,818.63 million by 2031 to register 26.2% CAGR during 2023–2031.

In terms of deployment type, the Asia Pacific regtech market is bifurcated into on-premise and cloud. The cloud segment held 61.0% share of Asia Pacific regtech market share in 2023, amassing US$ 1,316.85 million. It is projected to garner US$ 8,269.14 million by 2031 to register 25.8% CAGR during 2023–2031.

Based on enterprise size, the Asia Pacific regtech market is bifurcated into SMEs and large enterprises. The large enterprises segment held 56.9% share of Asia Pacific regtech market share in 2023, amassing US$ 1,227.29 million. It is projected to garner US$ 6,567.82 million by 2031 to register 23.3% CAGR during 2023–2031.

By application, the Asia Pacific regtech market is segmented into risk and compliance management, AML and fraud management, and identity management. The risk and compliance management segment held 42.1% share of Asia Pacific regtech market share in 2023, amassing US$ 907.48 million. It is projected to garner US$ 5,770.33 million by 2031 to register 26.0% CAGR during 2023–2031.

By industry vertical, the Asia Pacific regtech market is segmented into banks, insurance, and others. The banks segment held 44.2% share of Asia Pacific regtech market share in 2023, amassing US$ 953.39 million. It is projected to garner US$ 6,104.15 million by 2031 to register 26.1% CAGR during 2023–2031.

Based on country, the Asia Pacific regtech market is categorized into India, China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.6% share of Asia Pacific regtech market in 2023. It was assessed at US$ 553.11 million in 2023 and is likely to hit US$ 3,483.66 million by 2031, registering a CAGR of 25.9% during 2023–2031.

Key players operating in the Asia Pacific regtech market are Broadridge Financial Solutions Inc; Deloitte Touche Tohmatsu Ltd; International Business Machines Corp; Jumio Corporation; MetricStream, Inc.; PricewaterhouseCoopers International Ltd; and Thomson Reuters Corp, among others.

• In 2024: AI-powered regtech Cube acquired global regulatory intelligence enterprises from Thomson Reuters.

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