The regtech industry in Asia Pacific is expected to grow by 29.0% on annual basis to reach US$3.21 billion in 2024.
The regtech industry is expected to grow steadily over the forecast period, recording a CAGR of 19.3% during 2024-2029. The regtech in the country will increase from US$2.49 billion in 2023 to reach US$7.76 billion by 2029.
This report provides a detailed data centric analysis of regtech industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of regtech market dynamics, market size and forecast, and market share statistics.
The RegTech landscape in APAC is rapidly evolving, with innovative solutions emerging to address the region's complex compliance challenges. As the global RegTech market grows, the APAC region is expected to lead adoption and innovation. To fully realize the potential of RegTech in APAC, continued collaboration between regulators, financial institutions, and technology providers is essential. By working together to develop standardized frameworks and promote the adoption of best practices, the APAC region can become a global center of excellence in regulatory technology.
2. Emergence of New Technologies: The rise of cloud computing and APIs has facilitated the entry of new RegTech players, offering cost-effective solutions that provide quick deployment and value. This shift is particularly evident in countries like Singapore, where regulatory bodies promote AI for compliance.
3. Focus on Cybersecurity: With the APAC region facing high rates of cyberattacks, RegTech is becoming essential for managing risks associated with financial crimes and ensuring robust cybersecurity measures.
An example of this trend is Tookitaki, a RegTech provider that utilizes AI to help financial institutions develop compliance programs efficiently, addressing the unique challenges posed by cross-border fund movements in the region.
The regtech industry is expected to grow steadily over the forecast period, recording a CAGR of 19.3% during 2024-2029. The regtech in the country will increase from US$2.49 billion in 2023 to reach US$7.76 billion by 2029.
This report provides a detailed data centric analysis of regtech industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of regtech market dynamics, market size and forecast, and market share statistics.
The RegTech landscape in APAC is rapidly evolving, with innovative solutions emerging to address the region's complex compliance challenges. As the global RegTech market grows, the APAC region is expected to lead adoption and innovation. To fully realize the potential of RegTech in APAC, continued collaboration between regulators, financial institutions, and technology providers is essential. By working together to develop standardized frameworks and promote the adoption of best practices, the APAC region can become a global center of excellence in regulatory technology.
Trends in RegTech
The RegTech landscape in the Asia Pacific (APAC) region is experiencing significant growth, driven by increasing regulatory demands and the rapid evolution of digital economies.Key trends include:
1. Automation of Compliance Processes: Financial institutions are increasingly adopting RegTech solutions that leverage artificial intelligence (AI) and machine learning to automate compliance tasks, enhancing accuracy and efficiency while minimizing human error.2. Emergence of New Technologies: The rise of cloud computing and APIs has facilitated the entry of new RegTech players, offering cost-effective solutions that provide quick deployment and value. This shift is particularly evident in countries like Singapore, where regulatory bodies promote AI for compliance.
3. Focus on Cybersecurity: With the APAC region facing high rates of cyberattacks, RegTech is becoming essential for managing risks associated with financial crimes and ensuring robust cybersecurity measures.
An example of this trend is Tookitaki, a RegTech provider that utilizes AI to help financial institutions develop compliance programs efficiently, addressing the unique challenges posed by cross-border fund movements in the region.
Recent Launches with Example
The APAC region has seen several notable RegTech launches in recent months. For example, in September 2023, Engage Hub, a leading provider of journey orchestration and cross-channel communication solutions, partnered with the RegTech Association to help customers streamline compliance in an increasingly complex regulatory landscape.Partnerships and Collaborations
- Collaboration is key to driving RegTech adoption in APAC. Regulators, financial institutions, and technology providers are working to develop innovative solutions addressing the region's unique compliance challenges. For instance, the Monetary Authority of Singapore (MAS) has partnered with various organizations to create sandboxes and platforms for testing and deploying RegTech solutions.
- Another example is the partnership between Objective Corporation and the RegTech Association, which aims to educate and inspire government regulators to embrace RegTech. The partnership has resulted in several initiatives, including the Government Regulatory Technology Survey and Report and the RegTech For Better Government event.
Scope
Country reports in this bundled offering provide in-depth analysis of RegTech. Below is a summary of key market segments offered at country level.Regulatory Compliance Spending
Regulatory Compliance Spending By Industry
- Banking and Financial Services
- Insurance
- Healthcare
- Telecommunications
- Retail
- Transportation and Logistics
- Real Estate
- Government and Public Sector
- Other Industries
RegTech Spending
RegTech Companies Market Share
By Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Data Protection Technologies
- Training and E-Learning Platforms
- Regulatory Intelligence Tools
- Workflow Automation Solutions
- Other Products
By Industry
- Banking and Financial Services
- Insurance
- Healthcare
- Telecommunications
- Retail
- Transportation and Logistics
- Real Estate
- Government and Public Sector
- Other Industries
By Technology
- Artificial Intelligence (AI)
- Big Data Analytics
- Robotic Process Automation (RPA)
- Blockchain Technology
- Cloud Computing
- API Integrations and Biometric Authentication
- Data Encryption and Security Technologies
- Data Visualization Tools
- Other Technology
By Industry and Type of Products
Banking and Financial Services and Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Regulatory Intelligence Tools
- Workflow Automation Solutions
- Data Protection Technologies
- Other Products
Insurance and Type of Products
- Identity Verification Solutions
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Risk Assessment Tools
- Fraud Detection Systems
- Data Protection Technologies
- Other Products
Healthcare and Type of Products
- Compliance Management Platforms
- Data Protection Technologies
- Training and E-Learning Platforms
- Other Products
Telecommunications and Type of Products
- Compliance Management Platforms
- Data Protection Technologies
- Other Products
Retail and Type of Products
- Fraud Detection Systems
- Data Protection Technologies
- Other Products
Transportation and Logistics and Type of Products
- Transportation and Logistics Compliance Management Platforms
- Risk Assessment Tools
- Other Products
Real Estate and Type of Products
- Compliance Management Platforms
- Workflow Automation Solutions
- Other Products
Government and Public Sector and Type of Products
- Compliance Management Platforms
- Regulatory Intelligence Tools
- Other Products
Technology and Type of Products
Artificial Intelligence (AI) Technology and Type of Products
- Identity Verification Solutions
- Fraud Detection Systems
- Risk Assessment Tools
- Regulatory Intelligence Tools
- Other Products
Big Data Analytics Technology and Type of Products
- Compliance Management Platforms
- Automated Reporting Tools
- Transaction Monitoring Systems
- Other Products
Robotic Process Automation (RPA) Technology and Type of Products
- Compliance Management Platforms
- Workflow Automation Solutions
- Other Products
Blockchain Technology and Type of Products
- Identity Verification Solutions
- Automated Reporting Tools
- Other Products
Cloud Computing Technology and Type of Products
- Compliance Management Platforms
- Automated Reporting Tools
- Other Products
API Integrations and Biometric Authentication and Type of Products
- Identity Verification Solutions
- Automated Reporting Tools
- Other Products
Data Encryption and Security Technologies and Type of Products
- Protection Technologies
- Fraud Detection Systems
- Other Products
Data Visualization Tools and Type of Products
- Regulatory Intelligence Tools
- Regulatory Reporting
- Automated Reporting Tools
- Other Products
By Deployment
- Service Model
- On-premise Model
- Hybrid Model
By Product Offering
- Service
- Solution
By Company Size
- Small Company
- Medium Company
- Large Company
Reasons to buy
- Gain comprehensive Market Insights: Access detailed analyses of RegTech spending across various industries, including banking, healthcare, and retail. This understanding will enable you to allocate budgets effectively and prioritize investments based on market demand.
- Product and Technology Breakdown: Explore various RegTech products, such as identity verification solutions, compliance management platforms, and fraud detection systems. Insights into the adoption of technologies like AI, blockchain, and RPA will inform your product development and integration strategies.
- Industry-Specific Applications: Gain tailored insights on how different sectors implement RegTech solutions. By examining industry-specific needs, you can better align your offerings to meet regulatory requirements and enhance operational efficiency.
- Market Share and Competitive Analysis: Understand the competitive landscape through in-depth market share analysis among RegTech companies. This information will assist in identifying potential partnerships and benchmarking your organization against key market players.
- Deployment Models and Compliance Focus: Review various deployment options, including on-premise, hybrid, and service models, to determine the best fit for your organization. Additionally, grasp the regulatory landscape to ensure compliance management strategies are both proactive and effective.
Table of Contents
1 About this Report
3 Regulatory Compliance Spending Market Size and Forecast by Industry, 2020-2029
5 RegTech Spending by Type of Products
6 RegTech Spending Market Size and Forecast by Industry, 2020-2029
7 RegTech by Technology, 2020-2029
8 RegTech Banking and Financial Services by Type of Products, 2020-2029
9 RegTech Technology by Type of Products, 2020-2029
10 RegTech by Deployment, 2020-2029
11 RegTech by Product Offering, 2020-2029
12 RegTech by Company Size, 2020-2029
13 Further Reading
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 3009 |
| Published | October 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 3.21 Billion |
| Forecasted Market Value ( USD | $ 7.76 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | Asia Pacific |
