NEW YORK, May 20, 2019 /PRNewswire/ --
About this market
Need for compliance with government regulations will drive the
growth of the global transaction monitoring solutions manufactures
market. Enterprises, especially financial enterprises, must comply
with the increasing number of regulations to tackle frauds. Since
the number of fraudulent activities and fraudsters is increasing
every year, and frauds are becoming more sophisticated, the need to
comply with regulations becomes imperative to ensure the protection
of enterprises and their customers. Analysts have predicted that
the transaction monitoring solutions manufactures market will
register a CAGR of almost 15% by 2023.
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Market Overview
Emergence of advanced and sophisticated threats
One of the major factors contributing to the growth of the market
is the increasing cases of business information thefts and insider
frauds. Cyberattacks are becoming increasingly advanced and
sophisticated, targeting people, networks. and devices. In the
rapidly changing IT infrastructure, attackers have found new ways
of stealing valuable information and disrupting businesses by
crossing the perimeter of security walls.
Shortage of skilled analytics professionals and high attrition
rate
Transaction monitoring solutions offer tremendous benefits to
organizations, but they require educated and qualified
professionals with relevant experience in logical and analytical
thinking and financial domain expertise. Currently, there is a
shortage of skilled transaction monitoring solutions development
professionals such as ethical hackers, statisticians, data
scientists, and data analysts. This can negatively affect the
growth of the transaction monitoring solutions market in developing
countries such as India and
China.
For the detailed list of factors that will drive and challenge the
growth of the transaction monitoring solutions market during the
2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the
presence of several companies including Oracle Corp. and SAS
Institute Inc, the competitive environment is quite intense.
Factors such as the need for compliance with government regulations
and emergence of advanced and sophisticated threats, will provide
considerable growth opportunities to transaction monitoring
solutions manufactures. ACI Worldwide Inc., BAE Systems Plc, NICE
Ltd., Oracle Corp., and SAS Institute Inc. are some of the major
companies covered in this report.
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