Transaction Monitoring Market Size (2024 - 2029)

Transaction Monitoring Market Analysis

The transaction monitoring market is expected to register a CAGR of 15.1% during the forecast period. Transaction monitoring is the management, inspection, and analysis of a completed transaction on a business application or information system. Companies use transaction monitoring to effectively and efficiently manage diverse customer transactions.

• Transaction monitoring data is primarily used to submit Suspicious Activity Reports (SARs) and other reporting duties in compliance with several AML and counter-terrorist financing (CTF) regulations. Financial regulators worldwide are beginning to make transaction monitoring a legal necessity.
• Machine learning and artificial intelligence will ultimately be beneficial for the market. Such cutting-edge technologies provide a higher level of security and protect the user's sensitive information. Advanced analytics offers protection and safety against preventative hazards; as a result, this will boost the reputation of transaction monitoring technology internationally.
• Businesses conducting e-commerce must use secure payment gateways and adhere to the most recent and stringent laws and guidelines for conducting business and receiving payments online. This is a crucial aspect influencing the transaction monitoring market's growth rates.
• The SMEs category is anticipated to grow more quickly throughout the projection period due to increasing data protection regulations and a lack of expensive security solutions within the payment network infrastructure.
• The expansion of the transaction monitoring market needs to be improved by the need for more trained and skilled IT workers and the growing difficulty of maintaining cross-border compliance.

As more people purchase online using credit cards and other online payment methods, increasing the opportunity for hackers to act, the outbreak of COVID-19 was a significant factor in the decline in the growth of the transaction monitoring industry.

Transaction Monitoring Industry Segmentation

Transaction monitoring is the process of keeping track of customer transactions, which includes analyzing past and present customer interactions and information to paint a whole picture of consumer behavior. Transfers, deposits, and withdrawals are examples of this.

The Transaction Monitoring Market is segmented by Component (Solution and Services) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.