At 23.9% CAGR, Europe Regtech Market is Projected to be Worth US$ 9,607.86 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe regtech market was valued at US$ 1,731.79 million in 2023 and is expected to reach US$ 9,607.86 million by 2031, registering a CAGR of 23.9% 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 Europe regtech market growth.

Regtech firms employ cloud technology and software-as-a-service (SaaS) capability to assist businesses in complying with laws more efficiently and affordably. Regtech solutions enable businesses to maintain a more consistent approach to data quality from the onboarding stage through continuous customer monitoring. Streamlining know-your-customer (KYC) checks and eliminating the manual processes of customer record verification can help improve compliance with anti-money laundering rules. The popularity of the SaaS model in Regtech and other industries can be attributed to its accessibility and low human intervention needs. SaaS solutions can be easily accessible with an internet connection and a browser. Moreover, vendors themselves can manage all technical issues, resulting in less dependency on in-house IT teams. Additionally, with easier access to Regtech tools, companies can explore and adopt cutting-edge technologies such as artificial intelligence, machine learning, and blockchain. These technologies offer new opportunities for regtech companies to develop advanced solutions that address evolving regulatory challenges. Thus, the low entry barriers for SaaS-based Regtech solutions offer potential opportunities for the growth of the market.

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

By component, the Europe regtech market is bifurcated into solutions and services. The solutions held 62.9% share of Europe regtech market share in 2023, amassing US$ 1,088.76 million. It is projected to garner US$ 6,490.28 million by 2031 to register 25.0% CAGR during 2023–2031.

In terms of deployment type, the Europe regtech market is bifurcated into on-premise and cloud. The cloud segment held 66.9% share of Europe regtech market share in 2023, amassing US$ 1,158.95 million. It is projected to garner US$ 6,605.00 million by 2031 to register 24.3% CAGR during 2023–2031.

Based on enterprise size, the Europe regtech market is bifurcated into SMEs and large enterprises. The large enterprises segment held 61.8% share of Europe regtech market share in 2023, amassing US$ 1,069.56 million. It is projected to garner US$ 5,365.18 million by 2031 to register 22.3% CAGR during 2023–2031.

By application, the Europe regtech market is segmented into risk and compliance management, AML and fraud management, and identity management. The risk and compliance management segment held 45.7% share of Europe regtech market share in 2023, amassing US$ 791.53 million. It is projected to garner US$ 4,614.28 million by 2031 to register 24.7% CAGR during 2023–2031.

By industry vertical, the Europe regtech market is segmented into banks, insurance, and others. The banks segment held 43.1% share of Europe regtech market share in 2023, amassing US$ 745.75 million. It is projected to garner US$ 4,360.08 million by 2031 to register 24.7% CAGR during 2023–2031.

Based on country, the Europe regtech market is categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 30.2% share of Europe regtech market in 2023. It was assessed at US$ 522.15 million in 2023 and is likely to hit US$ 3,195.22 million by 2031, registering a CAGR of 25.4% during 2023–2031.

Key players operating in the Europe regtech market are ACTICO GmbH; Ascent Regtech; 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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