According to the research report titled ‘Global Anti-Money Laundering Market Analysis, 2020’, available with Market Study Report, global anti-money laundering market is predicted to expand at a CAGR of 18.22% during 2020-2025.
 

As per the report findings, global anti-money laundering market growth is primarily driven by the increasing instances of terrorist financing and money laundering activities. In addition, the government's strict regulations and mandates coupled with the emerging trends of using digital payment methods are contributing towards market growth.
 

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For those unversed, anti-money laundering system is a solution used to prevent and report money laundering activities in finance, banks and legal industries that effectively conduct due diligence and comply with government regulations.
 

The research report on global anti-money laundering market provides essential data on the various growth drivers, barriers, and other growth patterns predominant in this business domain. It also assesses past records and current market patterns in order to calculate the growth rate of this sphere of operation over the 2020-2025 period.
 

The report further highlights the numerous market segments, including component type, technology type, deployment mode, organization size, and geographical fragmentation. Different industry players, their relevant market share and implemented growth strategies are also taken into account in the document that have evidently helped them gain a competitive advantage in the overall business sphere.
 

Based on component type, global anti-money laundering market is split into services and solutions.
 

With respect to technology type, the industry is bifurcated into auditing & reporting, compliance management, case management, transaction monitoring, and KYC systems. Among these, the report states that KYC systems is predicted to emerge as a lucrative opportunity for global anti-money laundering industry in the forthcoming years. Increasing demand to preserve the database and to block any unauthorized individual from accessing the information is fueling the segmental share.
 

Moving on to deployment mode, the market is classified into on-premise and cloud. Owing to the quick customization capabilities, the on-premise deployment gained the largest share of the overall market in 2019. However, global anti-money laundering industry size from cloud segment is expected to grow significantly during the forecast period, primarily due to the low operating cost and versatility offered by cloud-based solutions.
 

Elaborating organization size, the industry is categorized into large enterprise and small & medium enterprise.
 

Citing the regional landscape, North America dominated the worldwide anti-money laundering market in 2019 in terms of revenue, owing to rising cases of money laundering and the early adoption of the technology. The increase in government fines for the non-deployment of anti-money laundering solutions is also leading towards the regional market growth.
 

Major contenders influencing global anti-money laundering market dynamics are Finacus Solutions Pvt. Ltd., Nelito Systems Ltd., Fiserv Inc., LexisNexis Risk Solutions, Experian plc, Oracle Corporation, BAE Systems plc, ACI Worldwide Inc., FICO, and SAS Institute.