Tag: IT & Telecom

Anti Money Laundering Market Size Worth $1.99 Billion By 2025

The global anti money laundering market size is expected to reach USD 1.99 billion by 2025, registering a CAGR of 13.6% over the forecast period according to a new report by Grand View Research, Inc. As the detection and prevention of money laundering threats increase with improvements in law enforcement activities, criminals and corrupt individuals are taking substantial care to conceal the sources of their illicit wealth.

Global concerns about the growing incidences of sophisticated organized crimes, terrorism, and corruption and their negative impact on peace, security, and development of countries globally have signaled a need for concerted action by governments. To meet the various compliance requirements set by governments, organizations are increasingly adopting solutions such as fraud detection and anti-money laundering. These solutions are anticipated to establish procedures to curb practices facilitated by cyber-criminals and corrupt individuals, reducing the concerns of converting or disguising illegally obtained funds as legitimate income.

AML solutions are expected to aid governments in mitigating the risk of anonymity in transaction and fund transfers that facilitate money laundering activities. This would help reduce the use of cash-based activities involved in activities such as drug trafficking, human smuggling and trafficking, and illicit retail transactions. Moreover, AML is expected to help enterprises to decrease the risk associated with cross-border transactions and the exploitation of virtual currency due to threats. AML solutions would subsequently curb activities such as ransomware, Distributed Denial-Of-Service (DDoS), and malware attacks conducted for money laundering or fraud.

The use of advanced technologies such as anonymous online payment portals, online banking platform, and Peer-to-Peer (P2P) money transfer applications for mobile phones have led to a notable rise in the number of e-transactions taking place across the globe in the past few years. While these developments have eased the way funds can be transferred between two nodes, they have also created vulnerabilities and several new ways for illegally transferring money that are more difficult to detect. Moreover, hackers are potentially transferring or withdrawing money, leaving a minute or no trace of an IP address with the use of anonymizing software and proxy servers. Thus, it is becoming increasingly difficult to detect or trace money laundering activities.

To protect citizens, financial organizations, and businesses from such threats, major nations worldwide are making continuous efforts to ensure that financial and other institutions comply with AML requirements. Moreover, several government regulators have started focusing on advanced FinTech solutions to detect and report financial crimes. Owing to the rising intensity, frequency, and sophistication of money laundering and illicit trading activities, organizations are adopting advanced technologies as legacy solutions fail to provide sufficient security and soon become obsolete.

Moreover, the deployment of advanced technology could boost data security and transparency in financial operations. Regulatory agencies and FinTech companies are also increasingly collaborating to improve Know Your Customer (KYC) and Customer Due Diligence (CDD) platforms. Thus, technologies such as authentication, smartphone-based context-aware authentication, and behavior analysis, as well as biometrics are anticipated witness increased traction, subsequently fueling the growth for anti money laundering market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/anti-money-laundering-market

Further key findings from the report suggest:

  • The global market for anti-money laundering was valued at USD 857.2 million in 2018 and is expected to register a CAGR of 13.6% from 2019 to 2025
  • The software component segment accounted for the largest revenue share of over 62% in 2018
  • The customer identity management product type segment accounted for the largest revenue share of over 32% in 2018
  • The cloud deployment segment is anticipated to register the highest CAGR of 16.0% over the forecast period
  • The North American market accounted for the largest revenue share of over 48% in 2018
  • The market for anti-money laundering is currently dominated by key industry players including Accenture, ACI Worldwide, Inc.; NICE Actimize, Tata Consultancy Services Limited, and SAS Institute Inc.

Application Delivery Controller Market Worth $4.34 Billion By 2024

The global application delivery controller (ADC) market is expected to reach USD 4.34 billion by 2024, according to a new report by Grand View Research, Inc. The application delivery controller market is anticipated to witness a high growth over the forecast period. This may be accredited to the increasing globalization and distributed enterprise architecture, which requires networks that can deliver their business-critical applications faster, thereby ensuring security. The increase in the data center traffic and the growing ADC popularity, particularly in the consolidated data center segment, are expected to be the major factors spurring the ADC market growth over the forecast period.

The increasing adoption of the BYOD phenomenon has led to the widespread usage of tablets and smartphones particularly in large organizations as it significantly increases the scope and span of enterprises. This, in turn, has resulted in a rise in the ADC demand in order to balance and maintain the server load. In addition, emerging technologies, such as software-defined storage (SDS) and software-defined networking (SDN), are also anticipated to spur the ADC market growth over the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/application-delivery-controller-market

Further key findings from the report suggest:

  • The virtual segment captured over 30% of the total revenue share in 2015 and is anticipated to exhibit growth exceeding 5.0% from 2016 to 2024. This can be attributed to the improved IT agility, performance, and cost benefits offered by them over the hardware-based ADCs as well as the increasing cloud-based data center traffic.
  • The small & medium enterprise (SME) segment is expected to gain prominence over the forecast period exceeding a compound annual growth rate of 5% from 2016 to 2024. This is ascribed to the increasing adoption of web-enabled services and web-based apps for running their business as well as to the proliferation of internet-enabled devices.
  • The IT & telecom segment accounted for a significant revenue share in 2015 capturing over 25% of the overall revenue share in the same year. The segment is expected to grow at a CAGR exceeding 5.5% from 2016 to 2024. This is majorly due to the integration of ADCs into enterprise IT systems to enhance efficiency.
  • Asia Pacific is expected to emerge as the fastest growing segment accounting for more than 20% of the overall share in 2015. This growth is due to increasing investments in the IT infrastructure, primarily in China and India. Furthermore, the rising demand in this region can be ascribed to the high market penetration, owing to the webification of organizational applications along with the growing ADC application in server firewalls and network security systems.
  • The key application delivery controller market purveyors comprise F5 Networks Inc., Citrix Systems, A10 Networks Inc., Array Networks, Inc., and Brocade Communications Systems, Inc. Companies, with their extensive distribution channels and worldwide presence, lay emphasis on adopting the best practices for developing solutions to achieve competitive advantage in this industry.