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Regulatory Reporting Solutions Market to Total US$ 15.5 Bn By 2031 Driven Surging Adoption of Cloud-Based Reporting Solutions: FMI
On account of this, the market is projected to grow at an impressive CAGR of 14.8% over the forecast period 2021-2031, in comparison to the 11.1% CAGR registered between 2016 and 2020.
Rising digitalization and increasing number of online monetary transactions have compelled financial institutions and banks to move from complex and legacy architected operations to a more rational approach.
In addition to this, the increasing need to improve financial transparency and reduce operational costs in financial institutions is estimated to create lucrative growth opportunities for the market.
Regulatory reporting solutions are gaining traction as it assists in risk & compliance management and provides real-time data analysis with scalability and flexibility attributes. It also makes it ideal for all types of regulatory reporting as per jurisdiction.
Further, increasing developments and implementation of novel technologies such as cloud computing, across financial organizations are anticipated to drive sales at robust 13% year-on-year growth in 2021.
On the basis of solution, cloud-based regulatory reporting solutions are estimated to project rapid growth in the segment. These solutions are extensively been adopted across the banking sector owing to shifting regulatory requirements and growing number of fraudulent activities, worldwide.
says the FMI analyst.
Leading companies in the global regulatory reporting solutions market are Oracle, Workviva, Wolters Kluwer , Sopra Banking Software, Sovos Compliance among others. As per Future Market Insight, around 40% to 45% of revenue market share accounted by the top 15 players in 2021.
Key companies in the industry are focusing on developing new product using innovative and advanced tools to meet the consistently changing demand from various industries.
Besides this, some of the players are emphasizing on partnerships, agreements, and acquisitions of other companies to strengthen their global presence. For instance,
FMI, in its new report, offers an unbiased analysis of the global regulatory reporting solutions market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in regulatory reporting solutions market with detailed segmentation:
https://www.futuremarketinsights.com/checkout/4285
The supply chain management (SCM) market solutions revenue totaled ~US$ 19.5 Bn for 2020, according to Future Market Insights' (FMI's) latest study. The overall market is expected to reach ~US$ 62.6 Bn by 2031, growing at a CAGR of 11.4% for 2021 – 31.
The composable-disaggregated infrastructure solutions revenue totalled ~US$ 1.8 Bn for 2020, according to Future Market Insights. The overall market is expected to reach ~US$ 22.7 Bn by 2031, at a CAGR of 26.3% through 2031.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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