The global transaction monitoring software market reached a value of US$ 12.67 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.53 Billion by 2027, exhibiting a CAGR of 14.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Transaction monitoring software helps in the real-time and regular monitoring of activities of financial institutions. It analyzes the historical information and account profile of consumers to take measures and mitigate money laundering risks by determining risks at the customer level. A transaction monitoring software provides alerts when a transaction is made against a customer profile and violates a rule. These solutions offer various benefits, which include expansion of transaction circle, detecting of financial crimes, easy access to necessary information, compliance with changing regulations and prevention of financial sanctions and risks. At present, transaction monitoring solutions are extensively used in the government and defense, retail and eCommerce, information technology (IT), telecom, healthcare, energy and utilities, manufacturing, and banking, financial services and insurance (BFSI) industries.

Transaction Monitoring Software Market Trends:
A rapid rise in the digital payments and increasing instances of money laundering are some of the primary factors driving the growth of the global transactional monitoring software market. Additionally, the emerging need for effectively managing know you customer (KYC) compliance and counter-terrorist financing (CTF) activities are further fueling the market growth. In line with this, organizations have started using advance analytics to identify high risk activities, which is contributing to the growth of the market. Other than this, the rapidly evolving regulatory framework to eliminate financial threats has led market players to adopt high-technology transactional monitoring software, which is positively influencing the market growth. Moreover, governments of various nations have been undertaking several initiatives to spread awareness regarding the benefits of these systems across different industries. This, in turn, is creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global transaction monitoring software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, enterprise size, application and end use industry.

Breakup by Component:

Solution
Services

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Enterprise Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by Application:

Anti-Money Laundering
Customer Identity Management
Fraud Detection and Prevention
Compliance Management

Breakup by End Use Industry:

BFSI
Government and Defense
IT and Telecom
Retail
Healthcare
Energy and Utilities
Manufacturing
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ACI Worldwide Inc., BAE Systems plc, ComplyAdvantage, Experian plc, Fair Isaac Corporation, FIS, Fiserv Inc., NICE Ltd., Oracle Corporation, SAS Institute Inc., Software AG and Thomson Reuters Corporation. Key Questions Answered in This Report:
How has the global transaction monitoring software market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global transaction monitoring software market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the enterprise size?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global transaction monitoring software market and who are the key players?
What is the degree of competition in the industry?