BFSI Segment to Dominate SAM Anti-Money Laundering Solution Market during 2019–2027

According to a new market research study on “SAM Anti-Money Laundering Solution Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component, Deployment Type, Product, and Industry,” is expected to reach US$ 176.00 million by 2027 from US$ 46.45 million in 2019. The market is estimated to grow at a CAGR of 15.8 % from 2020 to 2027. The report provides trends prevailing in the SAM anti-money laundering solution market along with the drivers and restraints pertaining to the market growth. Burgeoning adoption of advanced analytics and information interchange among banks and other financial institutions are the major factor driving the growth of the SAM anti-money laundering solution market. However, problem related to complicated structure and technology of anti-money laundering solutions hinder the growth of SAM anti-money laundering solution market.

In case of COVID-19, SAM is highly affected specially the Brazil. The government in SAM is taking several initiatives to protect people and to control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to directly impact the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The total number of cases in Brazil accounted for 7,213,155, out of which 186,356 total deaths are recorded. Due to the coronavirus epidemic, online transactions received a lift in several countries of the region. The online card payment transactions are witnessing an increase, more than doubling in Brazil and Chile. Furthermore, in Brazil, fintech is allocating financial aid to those affected by the coronavirus. Moreover, digital banking penetration in SAM has bolstered as consumers and merchants attempt to evade handling cash

The SAM anti-money laundering solution market is segmented into component, deployment type, product, industry, and country. Based on component, market is segmented into the software and services. The software segment dominated the market in 2019 and service segment is expected to be fastest growing during forecast period. Based on deployment type, market is segmented into the on-premises and cloud. The on-premises segment dominated the market in 2019 and cloud segment is expected to fastest growing during forecast period. Further, based on product, the market is segmented into the transaction monitoring, compliance management, currency transaction reporting, and customer identity management. The transaction monitoring segment dominated the market in 2019. Similarly, based on industry, market is segmented into the healthcare, BFSI, retail, IT and telecom, government, and others. The BFSI segment dominated the market in 2019.

Accenture; ACI WORLDWIDE, INC.; BAE Systems plc; EastNets.com; LexisNexis Risk Solutions Group; Nasdaq Inc.; NICE Ltd.; Oracle Corporation; SAS Institute Inc. are among the leading companies in the SAM anti-money laundering solution market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Accenture announced its investment along with partnership with Quantexa, with this strategic alliance permit the clients to reveal new actionable insights of several industries use cases which consist of fighting financial crime. 

The report segments the SAM Anti-Money Laundering Solution Market as follows:

SAM Anti-Money Laundering Solution Market – By Component

• Software
• Services

SAM Anti-Money Laundering Solution Market – By Deployment Type

• On-Premises
• Cloud

SAM Anti-Money Laundering Solution Market – By Product

• Transaction Monitoring
• Compliance management
• Currency transaction reporting
• Customer identity management

SAM Anti-Money Laundering Solution Market – By Industry

• Healthcare
• BFSI
• Retail
• IT and Telecom
• Government
• Others

SAM Anti-Money Laundering Solution Market – By Country

• Brazil
• Argentina
• Rest of SAM