$ 820.34 Million Middle East and Africa Anti-Money Laundering Market is Likely to Grow at 13.5% CAGR during the Period 2020 to 2028
Anti-Money Laundering (AML) solutions consist of various policies, laws, and regulations that helps in preventing financial crimes. These guidelines, policies, laws among others are set by Global and local regulators which are present around the world which aims to strengthen the functioning of AML solutions. Anti-Money Laundering (AML) solutions are used to detect and warn the institutions regarding money laundering, terrorist financing, fraud detection, electronic crime, bribery and corruption, tax evasion, embezzlement, information security, illegal cross border transactions among others hugely impacting the economy of the country and hampering its reputation. AML is term which is generally used to depict the fight against Money laundering & financial crimes.
According to a new report published by Data Bridge Market Research, titled, “Middle East and Africa Anti-Money Laundering Market,” The Middle East and Africa Anti-Money Laundering market size was valued at $ 820.34 Million in 2021, and is estimated to reach $ 820.34 Million by 2028, growing at a CAGR of 13.5% from 2022 to 2028.
MAJOR TOC OF THE REPORT
Chapter One: Introduction
Chapter Two: Market Scope & Size
Chapter Three: Market Analysis & Insight
Chapter Four: Market Regional Level Analysis
Chapter Five: Market Share Analysis
Chapter Six: Market Key Players
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Some of the key questions answered in this report:
How has the MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING?
- What are the key regional markets?
- What are the key driving factors and challenges in the industry?
- What is the structure of the MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING and who are the key players?
MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING Scope and Market Size
- On the basis of offering, the Middle East & Africa anti-money laundering market is segmented into solution and services. Solution segment is further sub segmented KYC/CDD and watch list, transaction screening and monitoring, case management and regulatory reporting. Services segment is further sub segmented as managed services, professional services. In 2021, solution held major share in the market due to growing demand for AML identification and monitoring solutions for various industries.
- On the basis of function, the Middle East & Africa anti-money laundering market has been segmented into compliance management, currency transaction reporting, customer identity management, transaction monitoring. In 2021, compliance management held largest share in the market, owing to factors such as increasing stringent regulations and compliances for AML to strengthen the solution.
- On the basis of deployment, the Middle East & Africa anti-money laundering market has been segmented into on premise and cloud. In 2021, cloud held maximum share in the market which is attributed to factors such rise in money laundering cases across globe.
- On the basis of enterprise size, the Middle East & Africa anti-money laundering market has been segmented into small & medium enterprise and large enterprise. In 2021, large enterprise held major share in the market. This is mainly due to increasing focus of financial institutions on digital payment-related issues such as transaction monitoring.
- On the basis of end use, the Middle East & Africa anti-money laundering market has been segmented into banks & financial institutions, insurance providers, gaming & gambling, government and others. Each segments of end-user are sub segmented by offering and then sub-sub segmented into, solution and services. In 2021, banks & financial institutions held largest share in the market, owing to factors such as growing demands for transaction monitoring systems that assess financial crime patterns.
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Market Analysis and Insights: MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING
- Data Bridge Market Research analyses that the market is growing with a CAGR of 13.5% in the forecast period of 2021 to 2028 and expected to reach USD 820.34 million by 2028.
MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING – Regional Level Analysis
- Saudi Arabia dominates the Middle East & Africa anti-money laundering market owing to various factors like increasing focus of financial institutions on digital payment related issues and rise in financial crimes across globe which can act as a major factor for the growth of the market.
MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING – Share Analysis:
- Middle East & Africa Anti-money laundering market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Middle East & Africa presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Middle East & Africa anti-money laundering market.
Key player – MIDDLE EAST AND AFRICA ANTI-MONEY LAUNDERING
- The major players covered in the report Cognizant, Accenture, Oracle, Temenos Headquarters SA, IBM Corporation, Experian Information Solutions, Inc., SAS Institute Inc., Microsoft, NICE Ltd, Tata Consultancy Services Limited, Open Text Corporation, BAE Systems, ACI Worldwide, Fiserv, Inc., Trulioo, DIXTIOR, WorkFusion, Inc., FIS, Intel Corporation, SAP SE among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately. Many product developments are also initiated by the companies worldwide which are also accelerating the growth of Middle East & Africa anti-money laundering market.
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