Regulatory Reporting-as-a-Service Market Share

Europe Market Statistics

On the basis of geographical analysis, the global regulatory reporting-as-a-service market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Europe is likely to account for largest revenue share by 2036, on the back of growing adoption of digital services in the developed countries. Moreover, the rise in focus of the regulatory bodies in the region to harmonize its reporting requirements over the past few years is also expected to drive the market growth. For instance, the European System of Central Banks (ESCB) and its Statistics Committee (STC) have aimed to standardize, harmonize and integrate existing ESCB requirements for the collection of statistical information from banks. The strategy would also help automate data processing and enhance data quality. The approach consists of two elements, namely, the Integrated Reporting Framework (IReF) and the Banks Integrated Reporting Dictionary (BIRD). 

North America Market Analysis

The regulatory reporting-as-a-service market in the North America region, on the other hand, is anticipated to gain the largest market share throughout the forecast period owing to the increasing adoption of digitalized regulatory reporting services in the financial and other end-user industries, along with development of the BFSI sector in the region.