Global Payment Monitoring Market is valued at approximately USD 8.18 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 28.17% over the forecast period 2023-2030. Payment Monitoring is the process of monitoring and analyzing payment transactions to detect and prevent fraudulent activities, money laundering, cyber threats, and other financial crimes. It assists financial institutions, payment service providers, and other organizations to mitigate risk and ensure compliance with regulatory requirements. These solutions use advanced analytics, machine learning algorithms, and real-time monitoring to analyze payment data and identify suspicious transactions. The increasing requirement for managing KYC compliance and CTF activities, growing awareness among organizations to comply with regulatory requirements and multi-channel monitoring, the surge in the payment data volumes, and rise in payment fraudulent activities are the most prominent factors that are propelling the market demand across the globe.
The rising inclination towards digital payments is acting as a catalyzing factor for the growth of the market. The shift towards digital payments and online transactions has created new opportunities for payment monitoring solutions. Accordingly, increasing adoption of digital payment methods by consumers and businesses is stipulating demand for payment monitoring. According to Statista, in 2022, the overall transaction value in the digital payments segment is estimated to account for USD 8.49 trillion. Also, it is projected that the total amount is likely to reach USD 15.17 trillion by 2027 with a CAGR of 12.31% during 2022-2027. Hence, the increasing preference for digital payments is exhibiting a positive influence on the market demand in the global market. Moreover, the rise in advancement in payment monitoring solution incorporating AI and ML and the growing awareness for real-time monitoring presents various lucrative opportunities over the forecasting years. However, the lack of risk analysis professionals and difficulties in managing cross-border and multi-jurisdictional AML compliance are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Payment Monitoring Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing need for managing KYC compliance and CTF activities, as well as early implementation of novel technologies and solutions for proficiently managing business operations. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The rapid growth of the e-commerce industry, growing payment data volumes, increasing number of payment fraudulent activities, along with the presence of emerging economies are significantly propelling the market demand across the region.
Major market players included in this report are:
- BAE Systems
- Fair Isaac Corporation
- ACI Worldwide Inc.
- Fiserv Inc.
- Oracle Corporation
- SAS Institute
- FIS
- Nice Ltd.
- Software AG
- Thomson Reuters Corporation
Recent Developments in the Market:
- In November 2022, Travelex Bank, a foreign exchange specialist in Brazil unveiled hteir preparation for a growth spurt across its money transfer business by deploying ThetaRay's SONAR anti-money laundering (AML) SaaS solution for domestic and international transaction monitoring and real-time sanctions screening.
Global Payment Monitoring Market Report Scope:
- Historical Data: - 2020 - 2021
- Base Year for Estimation: - 2022
- Forecast period: - 2023-2030
- Report Coverage: - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: - Component, Organization Size, Application, End User, Region
- Regional Scope: - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
By Organization Size:
- Large Enterprises
- Small & Medium Enterprises
By Application:
- Anti-Money Laundering
- Compliance Management & Customer Identity Management
- Fraud Detection & Prevention
By End User:
- BFSI
- IT & Telecom
- Healthcare
- Retail & e-commerce
- Government & Defense
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Payment Monitoring Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Payment Monitoring Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Payment Monitoring Market, by Organization Size, 2020-2030 (USD Billion)
- 1.2.4. Payment Monitoring Market, by Application, 2020-2030 (USD Billion)
- 1.2.5. Payment Monitoring Market, by End User, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Payment Monitoring Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Payment Monitoring Market Dynamics
- 3.1. Payment Monitoring Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increase in payment fraudulent activities
- 3.1.1.2. Rising inclination towards digital payments
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of risk analysis professionals
- 3.1.2.2. Difficulties in managing cross-border and multi-jurisdictional AML compliance
- 3.1.3. Market Opportunities
- 3.1.3.1. Rise in advancement in payment monitoring solution incorporating AI and ML
- 3.1.3.2. Growing awareness for real-time monitoring
Chapter 4. Global Payment Monitoring Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Payment Monitoring Market, by Component
- 5.1. Market Snapshot
- 5.2. Global Payment Monitoring Market by Component, Performance - Potential Analysis
- 5.3. Global Payment Monitoring Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
- 5.4. Payment Monitoring Market, Sub Segment Analysis
- 5.4.1. Solution
- 5.4.2. Services
Chapter 6. Global Payment Monitoring Market, by Organization Size
- 6.1. Market Snapshot
- 6.2. Global Payment Monitoring Market by Organization Size, Performance - Potential Analysis
- 6.3. Global Payment Monitoring Market Estimates & Forecasts by Organization Size 2020-2030 (USD Billion)
- 6.4. Payment Monitoring Market, Sub Segment Analysis
- 6.4.1. Large Enterprises
- 6.4.2. Small & Medium Enterprises
Chapter 7. Global Payment Monitoring Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Payment Monitoring Market by Application, Performance - Potential Analysis
- 7.3. Global Payment Monitoring Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Payment Monitoring Market, Sub Segment Analysis
- 7.4.1. Anti-Money Laundering
- 7.4.2. Compliance Management & Customer Identity Management
- 7.4.3. Fraud Detection & Prevention
Chapter 8. Payment Monitoring Market, by End User
- 8.1. Market Snapshot
- 8.2. Global Payment Monitoring Market by End User, Performance - Potential Analysis
- 8.3. Global Payment Monitoring Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
- 8.4. Payment Monitoring Market, Sub Segment Analysis
- 8.4.1. BFSI
- 8.4.2. IT & Telecom
- 8.4.3. Healthcare
- 8.4.4. Retail & e-commerce
- 8.4.5. Government & Defense
- 8.4.6. Others
Chapter 9. Global Payment Monitoring Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Payment Monitoring Market, Regional Market Snapshot
- 9.4. North America Payment Monitoring Market
- 9.4.1. U.S. Payment Monitoring Market
- 9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Organization Size breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End User breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Payment Monitoring Market
- 9.5. Europe Payment Monitoring Market Snapshot
- 9.5.1. U.K. Payment Monitoring Market
- 9.5.2. Germany Payment Monitoring Market
- 9.5.3. France Payment Monitoring Market
- 9.5.4. Spain Payment Monitoring Market
- 9.5.5. Italy Payment Monitoring Market
- 9.5.6. Rest of Europe Payment Monitoring Market
- 9.6. Asia-Pacific Payment Monitoring Market Snapshot
- 9.6.1. China Payment Monitoring Market
- 9.6.2. India Payment Monitoring Market
- 9.6.3. Japan Payment Monitoring Market
- 9.6.4. Australia Payment Monitoring Market
- 9.6.5. South Korea Payment Monitoring Market
- 9.6.6. Rest of Asia Pacific Payment Monitoring Market
- 9.7. Latin America Payment Monitoring Market Snapshot
- 9.7.1. Brazil Payment Monitoring Market
- 9.7.2. Mexico Payment Monitoring Market
- 9.8. Middle East & Africa Payment Monitoring Market
- 9.8.1. Saudi Arabia Payment Monitoring Market
- 9.8.2. South Africa Payment Monitoring Market
- 9.8.3. Rest of Middle East & Africa Payment Monitoring Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. BAE Systems
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Fair Isaac Corporation
- 10.3.3. ACI Worldwide Inc.
- 10.3.4. Fiserv Inc.
- 10.3.5. Oracle Corporation
- 10.3.6. SAS Institute
- 10.3.7. FIS
- 10.3.8. Nice Ltd.
- 10.3.9. Software AG
- 10.3.10. Thomson Reuters Corporation
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption