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Anti-Money Laundering (AML) Market Size By Component (Solution [Customer Identity Management, Compliance Management, Currency Transaction Reporting, Transaction Monitoring], Service [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Organization Size (Large Enterprises, SMEs), By Application (BFSI, IT & Telecom, Government & Public Sector, Healthcare, Retail, Transportation & Logistics), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5114
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Anti-Money Laundering Market size valued at USD 2.7 billion in 2022 and is projected to expand at over 17.8% CAGR from 2023 to 2032. Growing awareness regarding money laundering will accelerate the industry growth.

Anti-Money Laundering Market

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The rise in the number of cyberattacks will escalate the demand for Anti-Money Laundering (AML) solutions. Expanding internet usage, adoption of cloud-based devices, use of contactless payment methods, and others are some of the key contributors to the rise in cyber threats lately. Most nations throughout the pandemic experienced ransomware, data breaches, malware, malicious email and messages, etc.

The lack of qualified and skilled workforce could hamper the growth of the anti-money laundering market. Businesses are facing challenges like an increase in financial crimes and the unavailability of resources to tackle rising cybercrimes. Highly skilled professionals are quitting the industry owing to the lack of infrastructure, low salaries, and the absence of training programs. This has resulted in a shortage of skilled workers. Although companies are aggressively hiring trained employees, they are unable to fill the gaps because of the absence of expertise and experience in the AML sector.


High susceptibility to financial fraud will increase the need for AML solutions

The solution segment is poised to attain nearly 17.5% gains during 2023 to 2032. Financial fraud is on the rise globally which is impacting the demand for AML solutions. A comprehensive approach is taken by anti-money laundering solution providers to address the requirement of financial institutions to reduce operational risk from financial crime. Companies involved in the AML sector are also putting a strong emphasis on the development of new AML solutions.

Need for advanced technologies will boost the demand AML compliance management solutions

The AML market from the compliance management segment is anticipated to witness 18.4% growth rate through 2032. Anti-money laundering compliances are legal procedures and requirements that firms and organizations must adhere to in order to prevent, recognize, and report suspicious money laundering behavior. The main goal of anti-money laundering compliance measures is to carry out actions that prevent and inhibit potential offenders from participating in money laundering fraud or crime. Through AML compliance management solutions, organizations can perform best practices and advanced technologies to assist financial institutions to adhere to anti-money laundering regulations.

Shifting preference for advanced AML solutions across the BFSI sector

Anti-Money Laundering Market Size, By Application

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The BFSI application segment recorded USD 1 billion revenue in 2022. Banks and financial institutions are concentrating on enhancing AML capabilities to maintain their presence in the market. The demand for AML solutions across banks is expected to be driven by shifting client preferences, an increase in new-generation customers, and improved technical capabilities. The BFSI sector can detect financial crime using monitoring, analytical, and surveillance capabilities provided by the AML solutions platform. The demand for these solutions will be fueled by an increase in financial fraud worldwide.


Rising cases of money laundering to influence Europe market

Europe accounted for majority anti-money laundering market share in 2022, led by factors like a rise in online shopping, the proliferation of digital payment methods, and fewer possibilities for customer verification due to cross-border trade. The rise in numerous fraud trends, changing digital consumer demands, and the technological landscape will require fraud analysts and AML solution-developing firms in the region to be adaptive, agile, and creative to mitigate fraud risks.

Impact of the COVID-19 pandemic on the market

The anti-money laundering sector benefited from the COVID-19 pandemic. The risks of cyber-attacks and money laundering (ML) increased during COVID-19 lockdowns. Financial authorities emphasized on the need for financial institutions to continue meeting anti-money laundering (AML) standards and be aware of new ML risks for combating the financing of terrorism (CFT) requirements. According to financial institutions (FIs), since coronavirus-related criminality is increasing, the cases of money laundering will increase as criminals attempt to launder their funds.

Strategic expansion activities to foster the market development

Some of the leading companies in the anti-money laundering (AML) market include Accenture PLC, CaseWare International Inc., Cognizant Technology Solutions Corporation, Fair Isaac Corporation, Experian PLC, Finacus Solutions Private Limited, Fiserv Inc., FIS, Inc., Lexisnexis Risk Solutions Inc., BAE Systems PLC, Tata Consultancy Services Ltd., ACI Worldwide, Nelito Systems Ltd., Napier Technologies Limited, NICE Actimize, Oracle Corporation, OpenText Corporation, SAS Institute, Inc., Trulioo Information Services Inc. and WorkFusion, Inc. These companies are focusing on the expansion of their services across international borders.


This market research report on anti-money laundering (AML) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Component

  • Solution
    • Customer Identity Management
    • Compliance Management
    • Currency Transaction Reporting
    • Transaction Monitoring
  • Service
    • Professional Service
    • Managed Service

Market, By Deployment Model

  • Cloud
  • On premise

Market, By Organization Size

  • Large Enterprises
  • SMEs

Market, By Application

  • BFSI
  • IT & Telecom
  • Government & Public Sector
  • Healthcare
  • Retail
  • Transportation & Logistics
  • Others
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia & New Zealand (ANZ)
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa
Authors: Preeti Wadhwani, Smriti Loomba

Frequently Asked Questions (FAQ) :

The market size of anti-money laundering was exceeded USD 2.7 billion in 2022 and is projected to grow at more than 17.8% CAGR from 2023 to 2032.

The solution segment is anticipated to growth rate of over 17.5% between 2023 and 2032, due to rising financial frauds committed worldwide.

The BFSI sector surpassed USD 1 billion in 2022, owing to the robust demand for AML solutions across banks.

The market for anti-money laundering in Europe was crossed USD 751 million in 2022, driven by rising cases of money laundering.

Systems PLC, Tata Consultancy Services Ltd., ACI Worldwide, Nelito Systems Ltd., Napier Technologies Limited, NICE Actimize, Oracle Corporation, OpenText Corporation, SAS Institute, Inc., Trulioo Information Services Inc. and WorkFusion are the leading anti-money laundering solution providers.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 492
  • Countries covered: 22
  • Pages: 250
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