In a recent published report, Kenneth Research has updated the market report for Regulatory Reporting Solutions Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Regulatory Reporting Solutions Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Product Overview
The regulatory reporting solutions are software that collects the data from various sources and creates regulatory reports from it. These tools are used in the automated workflow process and facilitate the electronic delivery of the data. This solution is primarily used by the banks and insurance companies in regulatory reporting. It is also used by the banking agencies for the financial purpose in the regulation of the financial reports of the customer. The regulatory reporting software optimizes the report and produces a more accurate and complete report for the regulators. This software monitors changes and provides regulatory updates to ever-changing requirements.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Market Size and Forecast
The global regulatory reporting solutions market is expected to increase at a significant CAGR during 2018-2027. The increasing demand for improving the efficiency, quality of the regulatory reporting environment is anticipated to boost the growth of the global regulatory reporting solutions market during the forecast period.
The global regulatory reporting solutions market can be segmented on the basis of services, end-user, and region. On the basis of services, it is sub-segmented into transaction regulatory reporting services, managed regulatory reporting services, and regulatory compliance services. Regulatory compliance services are anticipated to be the largest sub-segment in the services segment. The strict government norms pertaining to financial reports and regulations are anticipated to be the primary reason for the sub-segment to lead the segment.
On the basis of end-user, it is sub-segmented into financial institutions, banking, IT & telecom, and others. Financial institutions are anticipated to be the largest sub-segment for the end-user segment. The increasing use of the regulatory reporting solutions by the various financial institutions on the account increasing demand for the technology-enabled data management is anticipated to be the primary reason for the sub-segment to lead the segment.
By region, the global regulatory reporting solutions market is segmented into North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa. North America is anticipated to lead the global regulatory reporting solutions market during the forecast period. The large adoption of the automated reporting solutions by various financial institutions is anticipated to be the key factor for the region to lead the global regulatory reporting solutions market.
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Asia-Pacific region is anticipated to be the fastest developing region for the global regulatory reporting solutions market. The increasing awareness of the regulatory reporting solutions in the various developing countries such as China, India, and Malaysia coupled with the increasing financial activities in the region is anticipated to propel the demand for the regulatory reporting solutions in the region.
Key Players
Wipro Ltd
Oracle
AXIOMSL Inc.
Moody’s Analytics Inc.
Lombard Risk
TAS S.p.A
SS&C Technologies Inc.
Market Segmentation
Our in-depth analysis segmented the global regulatory reporting solutions market in the following segments:
By Services:
Transaction regulatory reporting services
Managed regulatory reporting services
Regulatory compliance services
By End-User:
Financial Institutions
Banking
IT & Telecom
Others
By Region
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Download Sample of This Strategic Report-: https://www.kennethresearch.com/sample-request-10075967
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Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides a significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.
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