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Asia Pacific Anti-Money Laundering Solution Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component (Software and Services), Deployment Type (On-premises and Cloud), Product (Transaction Monitoring, Compliance Management, Currency Transaction Reporting, and Customer Identity Management), and Industry (Healthcare, BFSI, Retail, IT and Telecom, Government, and Others)

Code: TIPRE00017969 | Pages: 169 | Industry: Technology, Media and Telecommunications | Date: Jan 2021
Covid

Market Introduction

An anti-money laundering (AML) solution is deployed to meet the financial institutions' legal requirements for preventing and reporting the activities of money laundering. Increasing online transactions and rising concerns regarding fraudulent transactions have steered the adoption of anti-money laundering solutions across APAC region. Further, supportive government regulations supplement the growth of the APAC anti-money laundering solution market to a significant extent. The governments and regulators in APAC are strongly focusing on adopting the standards set by the intergovernmental Financial Action Task Force (FATF) to reinforce anti-money laundering. Rise in partnerships and increase in product launches are driving the market. For instance, in September 2017, SAS Institute announced its partnership with Sumitomo Mitsui Financial Group, Inc. According to this partnership, Sumitomo Mitsui Banking Corporation deployed SAS AI to detect and report fraudulent transactions. Other factors such as growing adoption of cryptocurrency and advanced data analytics are expected to drive the APAC anti-money laundering solution market during forecast period.

Furthermore, in case of COVID-19, APAC is highly affected specially the China and India. The governments of APAC countries took all possible steps to reduce the effects of the coronavirus pandemic by announcing lockdown. The temporary shutdown of companies resulted in increased digital channels of communication among the customers and organizations. However, during Q1 and Q2 2020, several companies were temporarily shut, which disrupt the anti-money laundering solution vendors and banks. Thus, the market was slightly impacted. With the release of lockdown, the market again started showing signs of growth. Criminals are taking advantage of the global outbreak to carry out financial fraud, which includes advertising and trafficking in counterfeit products, providing fraudulent investment opportunities. In light of growing threats, businesses in the region are taking necessary steps to identify suspicious behavior, investigating it thoroughly and, where appropriate, reporting it to the relevant authorities. Thus, this surges the demand for an anti-money laundering solution. Since the COVID-19 pandemic outbreak, the banks in the region are now focused on transforming their core operations and are working on AI-based technologies. Further, due to pandemics, the vendors are also focused on offering quality self-service capabilities, which are highly customized as per customer’ requirements.

Market Overview and Dynamics

The APAC anti-money laundering solution market is expected to grow from US$ 376.59 million in 2019 to US$ 1,681.34 million by 2027; it is estimated to grow at a CAGR of 17.9 % from 2020 to 2027. Escalating demand for sophisticated transaction monitoring solutions is expected to accelerate the APAC anti-money laundering solution market. Transaction monitoring is a crucial procedure and key control in AML and countering the financing of terrorism (AML/CFT) policies and procedures of financial institutions. The transaction monitoring solution allowed financial institutions to detect and evaluate whether transactions pose suspicion when considered against customers’ respective profiles. Over the years, the financial regulators have intensified their focus on monitoring AML risk activities, including a thrust for the financial institutes to adopt a suitable transaction monitoring process. Furthermore, regulators expect the firms to prove the capability and efficiency of their systems. The transaction monitoring software platforms allowed the financial institutions to configure a range of monitoring scenarios, perform efficient data analysis, and filter out the genuine suspicious activities from the other false positives; thus, gaining significant traction in the APAC market. This, in response, is accelerating the demand for AML enabled with sophisticated transaction monitoring solutions, thereby driving the APAC anti-money laundering solution market.

Key Market Segments

In terms of component, the software segment accounted for the largest share of the APAC anti-money laundering solution market in 2019. In terms of deployment type, the on-premises segment held a larger market share of the APAC anti-money laundering solution market in 2019. Similarly, in terms of product, the transaction monitoring segment held a larger market share of the APAC anti-money laundering solution market in 2019. Further, the BFSI segment held a larger share of the APAC anti-money laundering solution market based on industry in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the APAC anti-money laundering solution market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Accenture; ACI WORLDWIDE, INC.; BAE Systems plc; EastNets.com; LexisNexis Risk Solutions Group; Nasdaq Inc.; NICE Ltd.; Open Text Corporation; Oracle Corporation; SAS Institute Inc.

Reasons to buy report

  • To understand the APAC anti-money laundering solution market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC anti-money laundering solution market
  • Efficiently plan M&A and partnership deals in APAC anti-money laundering solution market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC anti-money laundering solution market
  • Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.

 

APAC Anti-Money Laundering Solution Market Segmentation 

APAC Anti-Money Laundering Solution Market - By Component

  • Software
  • Services

APAC Anti-Money Laundering Solution Market - By Deployment Type

  • On-Premises
  • Cloud

APAC Anti-Money Laundering Solution Market - By Product

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

APAC Anti-Money Laundering Solution Market - By Industry

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

APAC Anti-Money Laundering Solution Market - By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC             

APAC Anti-Money Laundering Solution Market - Company Profiles

  • Accenture
  • ACI WORLDWIDE, INC.
  • BAE Systems plc
  • EastNets.com
  • LexisNexis Risk Solutions Group
  • Nasdaq Inc.
  • NICE Ltd.
  • Open Text Corporation
  • Oracle Corporation
  • SAS Institute Inc.                                                                                           

TABLE OF CONTENTS

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        APAC Anti-Money Laundering Solution Market – By Deployment Type

1.3.2        APAC Anti-Money Laundering Solution Market – By Component

1.3.3        APAC Anti-Money Laundering Solution Market – By Product

1.3.4        APAC Anti-Money Laundering Solution Market – By Industry

1.3.5        APAC Anti-Money Laundering Solution Market- By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           APAC Anti-Money Laundering Solution Market Landscape

4.1         Market Overview

4.2         APAC PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           APAC Anti-Money Laundering Solution Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Surging Focus of FinTech on Implementing Automated Anti-Money Laundering Systems

5.1.2        Escalating Demand for Sophisticated Transaction Monitoring Solutions

5.1.3        Mounting Focus on Limiting Risks Related to Digital Payment Methods

5.2         Market Restraints

5.2.1        Difficulties Related to Structure and Technology of Anti-Money Laundering Solutions

5.3         Market Opportunities

5.3.1        Growing Adoption of Cryptocurrency

5.3.2        Rising Adoption of Advanced Analytics

5.4         Future Trends

5.4.1        Sharing of Reports Among Banks and Other Financial Institutions

5.5         Impact Analysis of Drivers & Restraints

6.           Anti-Money Laundering Solution Market – APAC Analysis

6.1         APAC Anti-Money Laundering Solution Market Overview

6.2         APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

6.3         Market Positioning – Five Key Players

7.           APAC Anti-Money Laundering Solution Market Analysis – By Deployment type

7.1         Overview

7.2         APAC Anti-Money Laundering Solution Market, by Deployment Type, (2019 and 2027)

7.3         On-Premise

7.3.1        Overview

7.3.2        On-Premise Market Revenue and Forecast to 2027 (US$ Million)

7.4         Cloud

7.4.1        Overview

7.4.2        Cloud Market Revenue and Forecast to 2027 (US$ Million)

8.           APAC Anti-Money Laundering Solution Market Analysis –By Component

8.1         Overview

8.2         APAC Anti-Money Laundering Solution Market Breakdown, by Component, (2019 and 2027)

8.3         Software

8.3.1        Overview

8.3.2        Software Market Revenue and Forecast to 2027 (US$ Million)

8.4         Services

8.4.1        Overview

8.4.2        Services Market Revenue and Forecast to 2027 (US$ Million)

9.           APAC Anti-Money Laundering Solution Market Analysis –By Product

9.1         Overview

9.2         APAC Anti-Money Laundering Solution Market Breakdown, by Product, (2019 and 2027)

9.3         Transaction Monitoring

9.3.1        Overview

9.3.2        Transaction Monitoring Market Revenue and Forecast to 2027 (US$ Million)

9.4         Compliance Management

9.4.1        Overview

9.4.2        Compliance Management Market Revenue and Forecast to 2027 (US$ Million)

9.5         Currency Transaction Reporting

9.5.1        Overview

9.5.2        Currency Transaction Reporting Market Revenue and Forecast to 2027 (US$ Million)

9.6         Customer Identity Management

9.6.1        Overview

9.6.2        Customer Identity Management Market Revenue and Forecast to 2027 (US$ Million)

10.        APAC Anti-Money Laundering Solution Market Analysis –By Industry

10.1      Overview

10.2      APAC Anti-Money Laundering Solution Market Breakdown, by Industry Vertical, (2019 and 2027)

10.3      Healthcare

10.3.1     Overview

10.3.2     Healthcare Market Revenue and Forecast to 2027 (US$ Million)

10.4      BFSI

10.4.1     Overview

10.4.2     BFSI Market Revenue and Forecast to 2027 (US$ Million)

10.5      Retail

10.5.1     Overview

10.5.2     Retail Market Revenue and Forecast to 2027 (US$ Million)

10.6      IT and Telecom

10.6.1     Overview

10.6.2     IT and Telecom Market Revenue and Forecast to 2027 (US$ Million)

10.7      Government

10.7.1     Overview

10.7.2     Government Market Revenue and Forecast to 2027 (US$ Million)

10.8      Others

10.8.1     Overview

10.8.2     Others Revenue and Forecast to 2027 (US$ Million)

11.        APAC Anti-Money Laundering Solution Market –Country Analysis

11.1      Overview

11.1.1     APAC: Anti-Money Laundering Solution Market, By Country

11.1.1.1       China: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.1.1       China: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.1.2       China: Anti-Money Laundering Solution Market, By Component

11.1.1.1.3       China: Anti-Money Laundering Solution Market, By Product

11.1.1.1.4       China: Anti-Money Laundering Solution Market, By Industry

11.1.1.2       India: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.2.1       India: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.2.2       India: Anti-Money Laundering Solution Market, By Component

11.1.1.2.3       India: Anti-Money Laundering Solution Market, By Product

11.1.1.2.4       India: Anti-Money Laundering Solution Market, By Industry

11.1.1.3       Japan: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.3.1       Japan: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.3.2       Japan: Anti-Money Laundering Solution Market, By Component

11.1.1.3.3       Japan: Anti-Money Laundering Solution Market, By Product

11.1.1.3.4       Japan: Anti-Money Laundering Solution Market, By Industry

11.1.1.4       South Korea: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.4.1       South Korea: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.4.2       South Korea: Anti-Money Laundering Solution Market, By Component

11.1.1.4.3       South Korea: Anti-Money Laundering Solution Market, By Product

11.1.1.4.4       South Korea: Anti-Money Laundering Solution Market, By Industry

11.1.1.5       Australia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.5.1       Australia: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.5.2       Australia: Anti-Money Laundering Solution Market, By Component

11.1.1.5.3       Australia: Anti-Money Laundering Solution Market, By Product

11.1.1.5.4       Australia: Anti-Money Laundering Solution Market, By Industry

11.1.1.6       Rest of APAC: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

11.1.1.6.1       Rest of APAC: Anti-Money Laundering Solution Market, By Deployment Type

11.1.1.6.2       Rest of APAC: Anti-Money Laundering Solution Market, By Component

11.1.1.6.3       Rest of APAC: Anti-Money Laundering Solution Market, By Product

11.1.1.6.4       Rest of APAC: Anti-Money Laundering Solution Market, By Industry

12.        Impact of COVID-19 Pandemic on APAC Anti-Money Laundering Solution Market

12.1      APAC

13.        Industry Landscape

13.1      Overview

13.2      Market Initiative

13.3      Merger and Acquisition

13.4      New Development

14.        COMPANY PROFILES

14.1      Accenture

14.1.1     Key Facts

14.1.2     Business Description

14.1.3     Products and Services

14.1.4     Financial Overview

14.1.5     SWOT Analysis

14.1.6     Key Developments

14.2      ACI WORLDWIDE, INC

14.2.1     Key Facts

14.2.2     Business Description

14.2.3     Products and Services

14.2.4     Financial Overview

14.2.5     SWOT Analysis

14.2.6     Key Developments

14.3      BAE Systems plc

14.3.1     Key Facts

14.3.2     Business Description

14.3.3     Products and Services

14.3.4     Financial Overview

14.3.5     SWOT Analysis

14.3.6     Key Developments

14.4      EastNets.com

14.4.1     Key Facts

14.4.2     Business Description

14.4.3     Products and Services

14.4.4     Financial Overview

14.4.5     SWOT Analysis

14.4.6     Key Developments

14.5      Open Text Corporation

14.5.1     Key Facts

14.5.2     Business Description

14.5.3     Products and Services

14.5.4     Financial Overview

14.5.5     SWOT Analysis

14.5.6     Key Developments

14.6      Oracle Corporation

14.6.1     Key Facts

14.6.2     Business Description

14.6.3     Products and Services

14.6.4     Financial Overview

14.6.5     SWOT Analysis

14.6.6     Key Developments

14.7      LexisNexis Risk Solutions Group

14.7.1     Key Facts

14.7.2     Business Description

14.7.3     Products and Services

14.7.4     Financial Overview

14.7.5     SWOT Analysis

14.7.6     Key Developments

14.8      Nasdaq Inc.

14.8.1     Key Facts

14.8.2     Business Description

14.8.3     Products and Services

14.8.4     Financial Overview

14.8.5     SWOT Analysis

14.8.6     Key Developments

14.9      SAS Institute Inc.

14.9.1     Key Facts

14.9.2     Business Description

14.9.3     Products and Services

14.9.4     Financial Overview

14.9.5     SWOT Analysis

14.9.6     Key Developments

14.10   NICE Ltd.

14.10.1  Key Facts

14.10.2  Business Description

14.10.3  Products and Services

14.10.4  Financial Overview

14.10.5  SWOT Analysis

14.10.6  Key Developments

15.        Appendix

15.1      About The Insight Partners

15.2      Word Index

LIST OF TABLES

Table 1.             APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Table 2.             China Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027  (US$ Million)

Table 3.             China Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)

Table 4.             China Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)

Table 5.             China Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)

Table 6.             India Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027  (US$ Million)

Table 7.             India Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)

Table 8.             India Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)

Table 9.             India Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)

Table 10.          Japan Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027  (US$ Million)

Table 11.          Japan Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)

Table 12.          Japan Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)

Table 13.          Japan Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)

Table 14.          South Korea Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)

Table 15.          South Korea Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)

Table 16.          South Korea Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027  (US$ Million)

Table 17.          South Korea Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027  (US$ Million)

Table 18.          Australia Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027  (US$ Million)

Table 19.          Australia Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027  (US$ Million)

Table 20.          Australia Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)

Table 21.          Australia Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)

Table 22.          Rest of APAC Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)

Table 23.          Rest of APAC Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027  (US$ Million)

Table 24.          Rest of APAC Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027  (US$ Million)

Table 25.          Rest of APAC Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027  (US$ Million)

Table 26.          List of Abbreviation

LIST OF FIGURES

Figure 1.           APAC Anti-Money Laundering Solution Market Segmentation

Figure 2.           APAC Anti-Money Laundering Solution Market Segmentation – By Country

Figure 3.           APAC Anti-Money Laundering Solution Market Overview

Figure 4.           On-Premise Segment Held the Largest Market Share

Figure 5.           Software Segment Held the Largest Market Share

Figure 6.           Transaction Monitoring Segment Held the Largest Market Share

Figure 7.           BFSI Segment Held the Largest Market Share

Figure 8.           China Held the Largest Market Share

Figure 9.           APAC – PEST Analysis

Figure 10.        APAC Anti-Money Laundering Solution Market Ecosystem Analysis

Figure 11.        APAC Anti-Money Laundering Solution Market Expert Opinion

Figure 12.        Impact Analysis of Drivers and Restraints

Figure 13.        APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14.        APAC Anti-Money Laundering Solution Market Breakdown, by Deployment Type (2019 and 2027)

Figure 15.        APAC On-Premise Market Revenue and Forecast to 2027(US$ Million)

Figure 16.        APAC Cloud Market Revenue and Forecast to 2027(US$ Million)

Figure 17.        APAC Anti-Money Laundering Solution Market, by Component (2019 and 2027)

Figure 18.        APAC Software Market Revenue and Forecast to 2027(US$ Million)

Figure 19.        APAC Services Market Revenue and Forecast to 2027(US$ Million)

Figure 20.        APAC Anti-Money Laundering Solution Market Breakdown, by Product (2019 and 2027)

Figure 21.        APAC Transaction Market Revenue and Forecast to 2027(US$ Million)

Figure 22.        APAC Compliance Management Market Revenue and Forecast to 2027(US$ Million)

Figure 23.        APAC Currency Transaction Reporting Market Revenue and Forecast to 2027(US$ Million)

Figure 24.        APAC Customer Identity Management Market Revenue and Forecast to 2027(US$ Million)

Figure 25.        APAC Anti-Money Laundering Solution Market Breakdown, by Industry Vertical (2019 and 2027)

Figure 26.        APAC Healthcare Market Revenue and Forecast to 2027(US$ Million)

Figure 27.        APAC BFSI Market Revenue and Forecast to 2027(US$ Million)

Figure 28.        APAC Retail Market Revenue and Forecast to 2027(US$ Million)

Figure 29.        APAC IT and Telecom Market Revenue and Forecast to 2027(US$ Million)

Figure 30.        APAC Government Market Revenue and Forecast to 2027(US$ Million)

Figure 31.        APAC Others Market Revenue and Forecast to 2027(US$ Million)

Figure 32.        APAC Anti-Money Laundering Solution Market Revenue Share, By Country (2019 and 2027)

Figure 33.        China: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 34.        India: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 35.        Japan: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 36.        South Korea: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 37.        Australia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 38.        Rest of APAC: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)

Figure 39.        Impact of COVID-19 Pandemic in APAC Country Markets

Some of the leading companies are:

  1. Accenture
  2. ACI WORLDWIDE, INC.
  3. BAE Systems plc
  4. EastNets.com
  5. LexisNexis Risk Solutions Group
  6. Nasdaq Inc.
  7. NICE Ltd.
  8. Open Text Corporation
  9. Oracle Corporation
  10. SAS Institute Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC anti-money laundering solution market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the APAC anti-money laundering solution market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the anti-money laundering solution market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

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