AML Market worth $6.8 billion by 2028 – Exclusive Report by MarketsandMarkets™

CHICAGO , Sept. 15, 2023 /PRNewswire/ — Adoption of cutting-edge technologies, legislative modifications, and enhanced collaboration will define the AML Market in the future as we effectively address threats from financial crime that are always evolving. To defend themselves against criminal activity and safeguard the global financial system, organisations will need to maintain their flexibility, make innovative AML solution investments, and place a high priority on compliance.

The global AML Market size is projected to grow from USD 3.1 billion in 2023 to USD 6.8 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period, according to a new report by MarketsandMarkets™. Growth in focus on digital payments and Internet banking drives the growth of the AML Market. Moreover, a lack of skilled AML professionals with in-depth knowledge may hinder market growth.

Browse in-depth TOC on “AML Market”

367 – Tables
49 – Figures
278 – Pages

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Scope of the Report

Report Metrics


Market size available for years


Base year considered


Forecast period


Forecast units

Value (USD Million/USD Billion) 

Segments Covered

offering, solution, service, organization size, deployment mode, end users, and regions

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Major vendors in the global AML Market include LexisNexis (US), Oracle (US), FIS (US), Fiserv (US), Jumio (US), NICE Actimize (US), SAS Institute (US), GB Group (UK), FICO (US), ACI Worldwide (US), Experian (Ireland), Nelito Systems (India), Wolter Kluwer (Netherlands), Comarch (Poland), Allsec Technologies (india), Dixtior (Portugal), Temenos (Switzerland), TCS (India), ComplyAdvantage (UK), Featurespace (UK), Feedzai (Portugal), Tier1 Financial Solutions (Canada), Finacus Solutions (india), FRISS ( Netherlands), TransUnion (US), SymphonyAI (US),  Napier (UK), IDMERIT (US), IMTF (Switzerlands), Innovative Systems (US), Sedicii (Ireland), Trulioo (Canada), NameScan (Australia), DataVisor (US), Gurucul (US)

Based on deployment mode, the cloud segment is expected to grow at a higher CAGR during the forecasted period.

The cloud deployment category is anticipated to experience a higher Compound Annual Growth Rate (CAGR) due to the swift adoption of cloud solutions by Small and Medium Enterprises (SMEs), owing to their cost-effectiveness. Cloud deployment involves hosting applications and software on external servers and granting access via the Internet. The approach is gaining momentum within the AML Market, especially among SMEs, as it allows them to concentrate on core competencies instead of investing limited capital in security infrastructure. By opting for cloud-based AML solutions, organizations can avoid expenses related to hardware, software, storage, and technical personnel. Such solutions, including Software-as-a-Service (SaaS) based AML offerings, provide security solutions and services for business applications. Additionally, cloud-based AML systems are user-friendly when it comes to maintenance and upgrades. Collectively, these factors are propelling the expansion of cloud deployment within the AML Market.

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By organization size, the large enterprise segment is expected to hold a larger market size during the forecast period.

Large enterprises encompass those with over 1,000 employees, and they stand as frontrunners in embracing AML solutions. It is driven by their utilization of numerous business applications vulnerable to fraudulent attacks. Due to their substantial size and diverse IT infrastructures, these enterprises face the intricate challenge of efficiently safeguarding their application security. In contrast to Small and Medium Enterprises (SMEs), larger counterparts possess ample technical prowess, greater financial capabilities, and heightened exposure to fraud incidents, contributing to heightened awareness levels. Cyber attackers target enterprise networks and systems to pursue financial gains or unauthorized access to data. These dynamics prompt large enterprises to adopt AML solutions at an early juncture, recognizing the importance of fortified security measures.

By region, Asia Pacific is expected to grow at the highest CAGR during the forecast period.

Asia Pacific includes big developing economies, such as China, Japan, India, Singapore, and South Korea. Money laundering cases have increased alarmingly in the Asia-Pacific region, highlighting the urgent need for stronger measures to combat the complex and developing financial crime. Criminal groups looking to take advantage of legislative inconsistencies and weak enforcement procedures have been drawn to the area because of its fast economic growth, various economies, and sophisticated trade networks. The problem has been made more difficult with the rise of cryptocurrencies, as they allow illegal funds to move freely across borders while dodging conventional detection techniques. The Asia Pacific region’s expanding digital economy opens up new opportunities for money laundering. AML initiatives must adjust to these changing dynamics since the emergence of online platforms and digital payment systems allows criminals to pass over illicit transactions as legal company operations.

Top Key Companies in AML Market:

LexisNexis (US), Oracle (US), FIS (US), Fiserv (US), Jumio (US), NICE Actimize (US), SAS Institute (US), GB Group (UK), FICO (US), ACI Worldwide (US), Experian (Ireland), Nelito Systems (India), Wolter Kluwer (Netherlands), Comarch (Poland), Allsec Technologies (india), Dixtior (Portugal), Temenos (Switzerland), TCS (India), ComplyAdvantage (UK), Featurespace (UK), Feedzai (Portugal), Tier1 Financial Solutions (Canada), Finacus Solutions (india), FRISS ( Netherlands), TransUnion (US), SymphonyAI (US),  Napier (UK), IDMERIT (US), IMTF (Switzerlands), Innovative Systems (US), Sedicii (Ireland), Trulioo (Canada), NameScan (Australia), DataVisor (US), Gurucul (US) are the key players and other players in the AML Market.

Recent Developments

  • In April 2023, NICE Actimize launched SAM-10 as Part of its Anti-Money Laundering suite of solutions. It is an AI-Based AML Transaction Monitoring Innovation With Multilayered Analytics to Better Detect Suspicious Activity.
  • In January 2023, IMTF acquired the Siron anti-money laundering and compliance solutions developed by US-based FICO Corporation, a leading analytical business intelligence software provider. With this acquisition, IMTF has now taken over the management of all Siron anti-financial crime solutions worldwide.
  • In December 2022, NICE Actimized Partners with The Knoble. The Knoble’s Financial Crimes Working Group will get expertise from NICE Actimize in the areas of technology, research, and other resources to aid in the identification and elimination of fraud in human trafficking-related operations.
  • In November 2022, Hoist Finance partnered with SAS anti-money laundering (AML) technology supported by Consortix, a strategic SAS AML partner, to fight against financial crime. Hoist Finance is a Swedish credit management company operating in several European countries.
  • In February 2022, GB Group acquired Verifi Identity Services Limited, commonly known as “Cloudcheck,” a provider of electronic identity verification (IDV) and anti-money laundering (AML) solutions in New Zealand.

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AML Market Advantages:

  • The risk of regulatory fines and penalties is decreased when organisations follow strict regulatory requirements and reporting duties thanks to the assistance of AML solutions.
  • AML tools help organisations identify and evaluate potential hazards associated with money laundering so they may take proactive steps to reduce those risks.
  • AML tools can identify many sorts of financial fraud, including identity theft, account takeover, and payment fraud, protecting businesses and clients from harm.
  • AML solutions support enhanced due diligence (EDD) procedures, enabling businesses to more accurately verify customer identities and gauge their level of risk.
  • AML systems create in-the-moment notifications for questionable transactions or activity, enabling businesses to look into them and act right away.
  • Automation of AML procedures streamlines compliance efforts and lowers operating expenses and manual labour requirements.
  • AML solutions improve the client experience while assuring compliance by easing the burden on onboarding and transaction procedures.
  • Tools for analysing money laundering (AML) examine enormous volumes of data to find trends and anomalies, giving useful insights into possible money laundering operations.
  • Organisations can identify patterns suggestive of money laundering thanks to continuous transaction monitoring, which enables them to identify odd or suspect activity.

Report Objectives:

  • To describe and forecast the global anti-money laundering (AML) market by offering, deployment mode, organization size, end user, and region.
  • To forecast the market size of five main regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
  • To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.
  • To provide detailed information related to major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market.
  • To analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major players.
  • To profile the key players of the AML Market and comprehensively analyze their market shares and core competencies.
  • To track and analyze competitive developments, such as mergers & acquisitions (M&A), new product developments, and partnerships & collaborations, in the market.
  • To track and analyze the recession impact on the AML Market

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