Middle East & Africa Trade Surveillance Systems Market

Market Introduction

The Middle East & Africa trade surveillance market is segmented into Saudi Arabia, the UAE, South Africa, and Rest of MEA. With the rise in digitalization across the region and adoption of advanced and automated solutions across all industries, the demand for automated solutions across the financial market has surged over the years. The UAE Securities and Commodities Jurisdiction (SCA), which has the authority to impose regulations and norms for the Dubai Financial Market (DFM). DFM collaborates with the SCA to protect investors and provide the best trading platform including initiatives such as Margin Trading and Delivery v Payment (DVP) methods. Similarly, the Saudi government's financial regulating authority for Saudi Arabia's capital markets is the Capital Market Authority of Saudi Arabia (CMA). Setting and enforcing financial laws and regulations as well as promoting capital markets are among its tasks, which also include regulating the Tadawul, Saudi Arabia's stock exchange. The rise in governing bodies across the region and their constantly changing stringent rules and regulation with respect to security trading are expected to boost the growth of the Middle East & Africa trade surveillance market during the forecast period.

Turkey, the UAE, Morocco, Saudi Arabia, Kuwait, and Egypt are the main countries facing the impact of COVID-19 in the Middle East and Africa. Saudi Arabia's economy shrank by 7% in the second quarter, indicating how hard the latest coronavirus struck both the oil and non-oil industries, and unemployment reached a new high of 15.4%. The sudden spread of the pandemic resulted to a standstill in the economy and declined the technological investments of the companies across the region, thereby negatively impacting the adoption of trade surveillance systems. Financial markets, especially stock, bond, and commodity (including crude oil and gold) markets, have been severely impacted by the COVID-19 pandemics across the region. The failure to negotiate an OPEC+ agreement resulted in a collapse in crude oil prices and a stock market crash in March 2020, because of a reported Russia–Saudi Arabia oil price war. This negatively impacted the trading market thereby having adverse impact on trade surveillance systems market of the region. However, with the stability in the economy by the second quarter of 2020 and rising demand for cloud solutions across security trading firms to implement efficient remote working culture is creating demand for integration platform solutions to properly monitor the trading activities thereby contributing to the growth of the market over the long run across the region.

Market Overview and Dynamics

The trade surveillance systems market in Middle East & Africa is expected to grow from US$ 55.51 million in 2021 to US$ 121.06 million by 2028; it is estimated to grow at a CAGR of 11.8% from 2021 to 2028. Cloud-based trading operations are evolving rapidly because of the convenience of digitalization and quick accessibility. The growing number of cloud-based trading activities increases the requirement for trading surveillance. Cloud-based trade surveillance solutions are gaining more traction than on-premise trade surveillance systems because of its several advantages like scalability. Cloud-based platforms or solutions provide highly scalable performance and a stable environment for the development of trade surveillance solutions. Furthermore, Artificial Technology (AI) technology is used to forecast trends in the acquired data, providing for a standardized and efficient means of monitoring and surveillance of trade activities, as well as ensuring industry compliance. In addition, trade surveillance system providers are introducing new products or updating existing ones to adapt and supply cloud-based solutions. For instance, INTL FCStone, US security and commodities dealer, used Eventus Systems' new trade surveillance technology platform to monitor its global future activity in June 2019. Also, in the same year INTL FCStone announced its expansion operations and replaced its outsourced system with the cloud version of Eventus Systems' Validus market surveillance platform for increased cost efficiency and capabilities as a part of its recently announced expansion ambitions.

Key Market Segments

In terms of component, the solution segment accounted for the largest share of the Middle East & Africa trade surveillance systems market in 2020. Further, in terms of solution, the risk and compliance segment held a larger market share of the trade surveillance systems market in 2020. Similarly, in term of services, the professional services segment held a larger market share of the trade surveillance systems market in 2020. In terms of deployment, on the on premise segment held a larger market share of the trade surveillance systems market in 2020. In term of organization size, large enterprises segment held a larger market share of the trade surveillance systems market in 2020

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the trade surveillance systems market in Middle East & Africa are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ACA Group; SIA S.P.A.; CRISIL Limited; FIS Global; Nasdaq Inc; and Software AG among others.

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Middle East & Africa Trade Surveillance Systems Market Segmentation

Middle East & Africa Trade Surveillance Systems Market – By Component

• Solution

• Risk and Compliance
• Reporting and Monitoring
• Surveillance and Analytics
• Case Management
• Others

• Services

• Managed Services
• Professional Services

Middle East & Africa Trade Surveillance Systems Market – By Deployment

• On-Premise
• Cloud

Middle East & Africa Trade Surveillance Systems Market – By Organization Size

• SMEs
• Large Enterprises

Middle East & Africa Trade Surveillance Systems Market – By Country

• UAE
• Saudi Arabia
• South Africa
• Rest of MEA

Middle East & Africa Trade Surveillance Systems Market – Companies Mentioned

• CRISIL Limited             
• FIS Global                     
• Nasdaq Inc                   
• Software AG                 
• Scila AB                           
• SIA S.P.A.                        

Middle East & Africa Trade Surveillance Systems Market Strategic Insights

Middle East & Africa Trade Surveillance Systems Market Segmentation Analysis

Middle East & Africa Trade Surveillance Systems Market Report Highlights

Middle East & Africa Trade Surveillance Systems Report Scope

Middle East & Africa Trade Surveillance Systems Market Country and Regional Insights