Market By Component, Deployment Mode, Enterprise Size, Application, Industrial Vertical, And Geography | Forecast 2020-2028
As per Triton’s research report, the Middle East and Africa transaction monitoring software market is anticipated to surge with a CAGR of 14.08% in the forecasting years of 2020-2028.
The countries which form a part of this market include:
•          The United Arab Emirates
•          Turkey
•          Saudi Arabia
•          South Africa
•          Rest of MEA
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Money laundering is a serious problem in the United Arab Emirates. The country has, therefore, established a strong anti-money laundering (AML) mechanism in a bid to prevent money laundering and terrorism funding. The government enacted two laws for this purpose - Law No 4/2002 (anti-money laundering law) and Law No. 1/2004 (counterterrorism law). A strong legislation in place, thus promotes the growth of the transaction monitoring software market in the UAE.
The Turkish economy is largely affected by money laundering due to the high rate of drug trafficking in the country. The country has, therefore, strengthened its anti-money laundering (AML) system, by adding new pieces of legislation to the regime. The country first criminalized the activity by passing the law on the prevention of money laundering (No. 4208) in 1996.
This law was then updated and strengthened ten years later, by passing the Prevention of Laundering the Proceeds of Crime (No. 5549). Further, in 2013, the government implemented the Law on the Prevention of the Financing of Terrorism (No. 6415), to take a strong call against the financing of terrorist activities. These measures taken by the Government of Turkey indicate the wide scope for the growth of the transaction monitoring software market in the country.
SAS provides business analytics software and services, and is one of the largest independent vendors in the business intelligence market. Its products include SAS® Anti-Money Laundering, SAS® Fraud Management, and SAS® Transaction Monitoring Optimization. The company serves various industries, which also include, banking, capital markets, and insurance. The company has a wide business presence in the Middle East and Africa.
Market by Technology (Data ana ..
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1.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET - SUMMARY                   Â
2.   INDUSTRY OUTLOOK           Â
2.1. MARKET DEFINITIONÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
2.2. KEY INSIGHTSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
2.2.1.  THE CLOUD IS THE FASTEST-GROWING AMONGST DEPLOYMENT MODE    Â
2.2.2.  BFSI LEADS AMONGST INDUSTRIAL VERTICALS             Â
2.3. PORTER’S FIVE FORCE ANALYSIS              Â
2.3.1.  THREAT OF NEW ENTRANTS              Â
2.3.2.  THREAT OF SUBSTITUTE                      Â
2.3.3.  BARGAINING POWER OF SUPPLIERS          Â
2.3.4.  BARGAINING POWER OF BUYERS                Â
2.3.5.  THREAT OF COMPETITIVE RIVALRY             Â
2.4. MARKET ATTRACTIVENESS INDEXÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
2.5. VENDOR SCORECARDÂ Â Â Â Â Â Â Â Â Â Â Â Â
2.6. MARKET DRIVERSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
2.6.1.  INCREASE IN DIGITALIZED PAYMENT TRANSACTIONS              Â
2.6.2.  MITIGATION OF MONEY LAUNDERING AND TO MANAGE KYC COMPLIANCE/CTF ACTIVITIES    Â
2.6.3.  USE OF ADVANCED ANALYTICS TO IDENTIFY HIGH RISK ACTIVITIES             Â
2.7. MARKET RESTRAINTSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
2.7.1.  LACK OF SKILLED PROFESSIONALSÂ
2.7.2.  INCREASING RISK OF SECURITY BREACHES                   Â
2.8. MARKET OPPORTUNITIESÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
2.8.1.  INTEGRATION OF BIG DATA, MACHINE LEARNING AND AI IN TRANSACTION MONITORINGÂ
2.8.2.  INCREASING DEPLOYMENT OF TRANSACTION MONITORING SYSTEMS BY SMES              Â
2.9. MARKET CHALLENGESÂ Â Â Â Â Â Â Â Â Â Â Â
2.9.1.  DIFFICULTIES IN MANAGING CROSS-BORDER AND MULTI-JURISDICTIONAL AML-COMPLIANCE             Â
3.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET OUTLOOK - BY COMPONENT                   Â
3.1. SOLUTIONÂ Â Â Â Â Â Â Â Â Â Â Â Â
3.2. SERVICEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â
4.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET OUTLOOK - BY DEPLOYMENT MODE                  Â
4.1. ON-PREMISEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
4.2. CLOUDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
5.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET OUTLOOK - BY ENTERPRISE SIZE           Â
5.1. LARGE ENTERPRISESÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
5.2. SMALL AND MEDIUM ENTERPRISES
6.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET OUTLOOK - BY APPLICATION                    Â
6.1. ANTI-MONEY LAUNDERINGÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
6.2. CUSTOMER IDENTITY MANAGEMENTÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
6.3. FRAUD DETECTION & PREVENTIONÂ Â Â Â Â Â Â Â Â Â Â Â
6.4. COMPLIANCE MANAGEMENTÂ Â Â Â Â Â Â Â Â Â Â Â Â
7.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET OUTLOOK - BY INDUSTRIAL VERTICAL              Â
7.1. BFSIÂ Â Â Â Â Â Â Â Â Â Â Â
7.2. GOVERNMENT & DEFENSEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
7.3. RETAIL & ECOMMERCEÂ Â Â Â Â Â Â Â Â Â Â Â
7.4. IT & TELECOMÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
7.5. HEALTHCAREÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
7.6. ENERGY & UTILITIESÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
7.7. MANUFACTURINGÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
7.8. OTHERSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
8.   MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET – REGIONAL OUTLOOK
8.1. UNITED ARAB EMIRATESÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
8.2. TURKEYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
8.3. SAUDI ARABIAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
8.4. SOUTH AFRICAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â
8.5. REST OF MIDDLE EAST & AFRICAÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.   COMPETITIVE LANDSCAPE           Â
9.1. ACI WORLDWIDE INCÂ Â Â Â
9.2. BAE SYSTEMSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.3. FAIR ISAAC CORPORATIONÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.4. FISERV INCÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.5. FISÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.6. NICE LTDÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.7. ORACLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.8. SAS INSTITUTE INCÂ Â Â Â Â Â Â
9.9. SOFTWARE AGÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.10. THOMSON REUTERSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
9.11. INFRASOFTTECHÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.12. EXPERIAN PLCÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
9.13. BOTTOMLINE TECHNOLOGIES (DE) INCÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â
9.14. COMPLYADVANTAGEÂ Â Â Â Â Â Â Â Â Â Â Â Â
9.15. DOW JONES RISK & COMPLIANCEÂ Â Â Â Â Â Â Â Â Â Â Â Â
10. METHODOLOGY & SCOPEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â
10.1. RESEARCH SCOPEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
10.2. RESEARCH SCOPE & DELIVERABLES
10.3. RESEARCH METHODOLOGYÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
TABLE 1: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY COMPONENT, 2020-2028 (IN $ MILLION)
TABLE 4: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY DEPLOYMENT MODE, 2020-2028 (IN $ MILLION)
TABLE 5: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY ENTERPRISE SIZE, 2020-2028 (IN $ MILLION)
TABLE 6: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY APPLICATION, 2020-2028 (IN $ MILLION)
TABLE 7: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY INDUSTRIAL VERTICAL, 2020-2028 (IN $ MILLION)
TABLE 8: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY COUNTRY, 2020-2028 (IN $ MILLION)
FIGURE 1: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY CLOUD, 2020-2028 (IN $ MILLION)
FIGURE 2: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY BFSI, 2020-2028 (IN $ MILLION)
FIGURE 3: PORTER’S FIVE FORCE ANALYSIS
FIGURE 4: MARKET ATTRACTIVENESS INDEX
FIGURE 5: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY SOLUTION, 2020-2028 (IN $ MILLION)
FIGURE 6: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY SERVICE, 2020-2028 (IN $ MILLION)
FIGURE 7: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY ON-PREMISE, 2020-2028 (IN $ MILLION)
FIGURE 8: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY CLOUD, 2020-2028 (IN $ MILLION)
FIGURE 9: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY LARGE ENTERPRISES, 2020-2028 (IN $ MILLION)
FIGURE 10: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY SME, 2020-2028 (IN $ MILLION)
FIGURE 11: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY ANTI-MONEY LAUNDERING, 2020-2028 (IN $ MILLION)
FIGURE 12: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY CUSTOMER IDENTITY MANAGEMENT, 2020-2028 (IN $ MILLION)
FIGURE 13: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY FRAUD DETECTION & PREVENTION, 2020-2028 (IN $ MILLION)
FIGURE 14: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY COMPLIANCE MANAGEMENT, 2020-2028 (IN $ MILLION)
FIGURE 15: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY BFSI, 2020-2028 (IN $ MILLION)
FIGURE 16: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY GOVERNMENT & DEFENSE, 2020-2028 (IN $ MILLION)
FIGURE 17: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY RETAIL & ECOMMERCE, 2020-2028 (IN $ MILLION)
FIGURE 18: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY IT & TELECOM, 2020-2028 (IN $ MILLION)
FIGURE 19: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY HEALTHCARE, 2020-2028 (IN $ MILLION)
FIGURE 20: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY ENERGY & UTILITIES, 2020-2028 (IN $ MILLION)
FIGURE 21: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY MANUFACTURING, 2020-2028 (IN $ MILLION)
FIGURE 22: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, BY OTHERS, 2020-2028 (IN $ MILLION)
FIGURE 23: MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 24: UNITED ARAB EMIRATES TRANSACTION MONITORING SOFTWARE MARKET 2020-2028 (IN $ MILLION)
FIGURE 25: TURKEY TRANSACTION MONITORING SOFTWARE MARKET 2020-2028 (IN $ MILLION)
FIGURE 26: SAUDI ARABIA TRANSACTION MONITORING SOFTWARE MARKET 2020-2028 (IN $ MILLION)
FIGURE 27: SOUTH AFRICA TRANSACTION MONITORING SOFTWARE MARKET 2020-2028 (IN $ MILLION)
FIGURE 28: REST OF MIDDLE EAST AND AFRICA TRANSACTION MONITORING SOFTWARE MARKET 2020-2028 (IN $ MILLION)