Anti-money Laundering Industry
The global anti-money laundering market size is expected to reach USD 4.24 billion by 2030, registering a CAGR of 16.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing adoption of digital and mobile payments is driving the anti-money laundering market. The rise of e-commerce and mobile payments has created new possibilities for cybercriminals to launder money and finance terrorism. AML solutions need to be able to monitor and detect suspicious activity in these channels. This has led to the development of new anti-money laundering market solutions specifically designed for digital and mobile payments.
Moreover, the need for collaboration and information sharing between financial institutions and regulators is driving the anti-money laundering market growth. Financial crime is a global problem, and cybercriminals often operate across borders. Effective AML solutions require the cooperation of financial institutions and regulators across jurisdictions. This has led to the development of new information-sharing platforms and the adoption of common standards for anti-money laundering market compliance.
To combat money laundering and terrorism funding, government bodies worldwide have implemented laws and regulations. The Financial Action Task Force, an inter-governmental organization, supports countries in updating and establishing anti-money laundering laws. Since anti-money laundering laws differ from country to country, financial institutions need to comply with country-specific policies to avoid any legal issues. Adhering to these policies, financial institutions can establish a structured set of procedures to prevent unlawful funds from infiltrating their financial systems.
Gather more insights about the market drivers, restrains and growth of the Global Anti-money Laundering market
Anti-money Laundering Market Segments Highlights:
- The software segment led the market and accounted for 63.1% of the global revenue in 2023. The segment has witnessed significant growth due to the increasing adoption of cloud-based AML solutions, which offer greater scalability and flexibility than traditional on-premise solutions
- The transaction monitoring segment accounted for the largest market revenue share in 2023. The increasing regulatory requirements for financial institutions to implement transaction monitoring programs are driving the growth of the segment
- The cloud segment is expected to grow significantly from 2024 to 2030. The key attribute to the growth is that the cloud-based anti-money laundering solutions offer better security, as providers often have dedicated security teams and employ the latest security measures to protect against cyber threats
- The large enterprises segment accounted for the largest market revenue share in 2023. The high regulatory burden and potential legal consequences for non-compliance make anti-money laundering solutions critical for large enterprises to mitigate their risks and protect their reputation
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Segments Covered in the Report
Grand View Research has segmented the anti-money laundering market on the basis of on component, product, deployment, enterprise size, end-use, and region:
Anti-money Laundering Component Outlook (Revenue, USD Million, 2018 - 2030)
Anti-money Laundering Product Outlook (Revenue, USD Million, 2018 - 2030)
- Compliance Management
- Currency Transaction Reporting
- Customer Identity Management
- Transaction Monitoring
Anti-money Laundering Deployment Outlook (Revenue, USD Million, 2018 - 2030)
Anti-money Laundering Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)
- Large Enterprises
- Small & Medium Enterprises
Anti-money Laundering End-use Outlook (Revenue, USD Million, 2018 - 2030)
- BFSI
- Government
- Healthcare
- IT & Telecom
- Others
Anti-money Laundering Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Middle East & Africa (MEA)
- Kingdom of Saudi Arabia (KSA)
- UAE
- South Africa
Order a free sample PDF of the Anti-money Laundering Market Intelligence Study, published by Grand View Research.
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