Anti-money Laundering Market To Reach $4.24 Billion By 2030

Anti-money Laundering Market Growth & Trends

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.

The COVID-19 pandemic has had a positive impact on anti-money laundering market. The pandemic has led to an increase in online transactions, which has created new opportunities for fraud and financial crime. AML solutions can help financial institutions monitor and detect fraudulent transactions in real-time, reducing the risk of financial crime during these uncertain times.

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Anti-money Laundering Market Report 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

• The BFSI segment accounted for the largest market revenue share in 2023. The BFSI sector is expected to continue to dominate the anti-money laundering market in the coming years due to the increasing number of partnerships and collaborations between financial institutions and market players to develop enhance solutions and expand the foothold in the anti-money laundering market

• The North America market dominated the global market and accounted for 29.2% in 2023. The presence of a well-established technological infrastructure in the region has made it easier for financial institutions to adopt anti-money laundering solutions.

Anti-money Laundering Market Segmentation

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)

• Software

• Services

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)

• Cloud

• On-premise

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

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil 

• Middle East & Africa (MEA)

  • Kingdom of Saudi Arabia (KSA)

  • UAE

  • South Africa

List of Key Players in the Anti-money Laundering Market

• NICE Actimize

• Cognizant Technology Solutions Corporation

• Tata Consultancy Services Limited

• SAS Institute, Inc.

• ACI Worldwide, Inc.

• Oracle Corporation

• Fiserv, Inc.

• Accenture

• BAE Systems

• Experian Information Solutions, Inc.

• Open Text Corporation