Regulatory Reporting Solution Industry Analysis in Western Europe
Demand Forecast for Regulatory Reporting Solution in Western Europe, by Software and Services, 2023 to 2033
Western Europe Financial Industries Embrace Unified Regulatory Reporting Solutions, Streamlining Compliance and Creating a Flourishing Ecosystem for Service Providers
Analytical Study of Regulatory Reporting Solution Landscape in Western Europe from 2023 to 2033
The regulatory reporting solution industry in Western Europe is expected to demonstrate a CAGR of 17.3% from 2023 to 2033. In 2023, the regional industry is projected to present substantial opportunities, reaching a valuation of US$ 1,648.91 million.
Accurate data reporting is essential for compliance. Regulatory reporting solutions are increasingly incorporating data quality and integration features to ensure that the data used for reporting is consistent and accurate. By 2033, the adoption of regulatory reporting solution in Western Europe is projected to generate an estimated revenue of US$ 8,427.64 million.
Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
Financial institutions are under pressure to reduce costs while maintaining or improving the quality of their regulatory reporting. Efficient reporting solutions that offer cost savings are in demand.
There is a growing need for solutions that can handle these specific regulatory demands, as environmental, social, and governance (ESG) reporting requirements gain importance.
Ensuring the security and privacy of data used for regulatory reporting is critical. Solutions that offer robust cybersecurity features are in high demand.
There is an increased need for solutions that can handle cross border regulatory reporting requirements efficiently, with financial institutions operating across multiple countries.
Attributes
Details
Anticipated Value in 2023
US$ 1,648.91 million
Expected Value by 2033
US$ 8,427.64 million
Forecasted CAGR from 2023 to 2033
17.3%
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Key Trends Influencing Demand for Regulatory Reporting Solution in Western Europe
Regulators are increasingly moving toward real time reporting requirements, which necessitates the adoption of technologies that can support real time data processing and reporting.
Many financial institutions are outsourcing their regulatory reporting to specialized service providers. The trend is driven by the need to reduce costs, enhance efficiency, and ensure compliance. It presents opportunities for vendors offering managed services.
AI and machine learning are being used to automate data analysis and identify patterns or anomalies that can assist in regulatory compliance. The technologies offer opportunities for innovation in the regulatory reporting solutions industry.
Western Europe, including the United Kingdom, has experienced regulatory changes. This has created the need for updated reporting solutions that comply with new regulations.
Comparative View of Adjacent Regulatory Reporting Solution in Key Markets
The provided table offers a comparative overview of regulatory reporting solutions and their respective adoption rates in three key regions: Western Europe, Japan, and Korea.
Regulatory requirements for financial institutions have become more complex and stringent across all three regions. The need for accurate and timely reporting has grown, leading financial organizations to seek comprehensive regulatory reporting solutions to ensure compliance.
Deployment Trends of Regulatory Reporting Solution in Western Europe:
Attributes
Deployment Trends of Regulatory Reporting Solution in Western Europe
CAGR from 2023 to 2033
17.3%
Industry Size in 2023
US$ 1,648.91 million
Key Trend
Digital transformation in finance, including banking and insurance, fuels rising demand for automation and tech solutions, enhancing regulatory reporting efficiency
Key Challenge
Complying with strict data privacy regulations like GDPR poses a significant challenge in handling and sharing data for reporting
Uptake of Regulatory Reporting Solution in Japan:
Attributes
Demand for Regulatory Reporting Solution Industry in Japan
CAGR from 2023 to 2033
15.5%
Industry Size in 2023
US$ 292.8 million
Key Trend
Japan's growing financial industry drives demand for specialized reporting solutions in banking, insurance, and asset management due to heightened regulatory requirements
Key Challenge
Overcoming resistance to technology adoption for reporting poses challenges, including concerns about disruption, training, and potential transition errors
Korea Regulatory Reporting Solution Ecosystem:
Attributes
Analysis of Regulatory Reporting Solution Industry in Korea
CAGR from 2023 to 2033
13.6%
Industry Size in 2023
US$ 201.6 million
Key Trend
Korea favors cloud-based solutions for their scalability and cost efficiency, particularly in regulatory reporting, offering flexibility and easy accessibility
Key Challenge
Cybersecurity remains a constant challenge in safeguarding sensitive data handled by regulatory reporting solutions
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Category-wise insights
Western Europe's Evolving Regulations Drive Demand for Regulatory Reporting Software
Based on solutions, the regulatory reporting software segment is expected to account for a share of 69.3% in 2023. Regulatory reporting relies heavily on accurate and consistent data. Regulatory reporting software is designed to ensure data accuracy and integrity, reducing the risk of errors that can lead to compliance issues.
The ever-evolving and increasingly complex regulatory landscape in Western Europe necessitates efficient compliance solutions. Regulatory reporting software offers the capability to streamline reporting processes and adapt to changing requirements.
Regulatory Reporting Solution in Western Europe based on Solution
Regulatory Reporting Software
Share in % in 2023
69.3%
Regulatory reporting software automates the data collection, validation, and submission processes. This automation significantly reduces the time and effort required for reporting, allowing organizations to allocate resources more efficiently.
Many regulatory authorities are shifting towards real-time reporting requirements. Regulatory reporting software can handle the complexity of real-time data processing, enabling organizations to meet these demands effectively.
Regulatory Reporting Solutions Emerged as Pillars of Banking Stability across Western Europe
Based on industry, the banking segment is expected to account for a share of 35.2% in 2023. Banks handle high volumes of data and transactions daily. Regulatory reporting solutions automate data collection, validation, and reporting processes, saving time and reducing manual errors. Many banking regulations now require real-time or near real-time reporting. Regulatory reporting solutions can handle the speed and volume of data required for these real-time reports.
Banking activities involve complex transactions and financial instruments. Regulatory reporting solutions help streamline the reporting of this intricate and diversified financial data. Accuracy in financial data reporting is paramount for the stability of the banking industry. Regulatory reporting solutions ensure data accuracy, reducing the risk of reporting errors and non-compliance.
Regulatory Reporting Solution in Western Europe based on Industry
Banks
Share in % in 2023
35.2%
Many banks operate across borders in Western Europe. Regulatory reporting solutions can adapt to handle cross-border reporting requirements, ensuring compliance with the regulatory authorities of different countries.
Integration with core banking systems is crucial for efficiency. Regulatory reporting solutions that can seamlessly integrate with a bank's existing technology infrastructure are highly valuable. Additionally, regulatory reporting solutions often include compliance monitoring features, providing alerts and notifications to ensure continuous compliance with regulatory changes.
Country-wise Insights
Country
Value CAGR from 2023 to 2033
United Kingdom
19.2%
France
18.4%
Germany
21.4%
Evolving Regulatory Environment to Boost the Demand in the United Kingdom
The United Kingdom has a dynamic and evolving regulatory landscape, particularly in the financial services sector. The demand for regulatory reporting solutions to ensure compliance increases, as regulations change or become more stringent.
Automation of regulatory reporting processes is essential for efficiency, accuracy, and timeliness. Reporting solutions streamline data collection, validation, and submission, saving time and resources. Some regulations now require real time or near real time reporting. Reporting solutions can handle the speed and volume of data required for these real time reports.
Regulatory reporting solutions often include compliance monitoring features, providing alerts and notifications to ensure ongoing compliance with regulatory changes. The country is anticipated to account for a share of 19.2% in 2023.
Cross Border Operations to Improve the Industry Landscape in France
Many France-based companies have international operations, requiring solutions that can handle cross border reporting and adapt to different countries' regulatory requirements. Increasingly, regulations require real time or near real time reporting. Reporting solutions are essential for meeting these demands, especially in the financial sector. The country is anticipated to account for a share of 18.4% in 2023.
Solutions that can be customized to meet industry specific and evolving regulatory requirements are preferred, as they can adapt to changing rules. The adoption of Regulatory Technology (RegTech) solutions is driving innovation in compliance and reporting, with a focus on data quality and control.
Regulatory reporting solutions that reduce the operational costs associated with manual reporting processes, such as labor and potential fines, are in high demand. The ability to monitor and report compliance with real time or near real time accuracy is a critical factor, especially for the financial industry.
Integration with Core Systems in Germany to Fuel the Industry Expansion
Seamless integration with existing core systems is crucial for efficiency. Reporting solutions that can integrate with a company's technology infrastructure reduce manual data entry and errors. Regulatory requirements can vary across industries and change over time. Reporting solutions need to be customizable to align with specific regulatory requirements and adaptable to evolving rules.
German government initiatives promoting the digitalization of reporting processes can incentivize businesses to invest in regulatory reporting solutions. These initiatives aim to streamline regulatory compliance and encourage the use of technology. The country is expected to account for a share of 21.4% in 2023.
Germany has industry-specific regulations in sectors such as manufacturing, healthcare, and energy. Solutions tailored to these industries, accommodating their unique compliance requirements, are in high demand.
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Competitive Landscape
The regulatory reporting solutions industry in Western Europe is highly competitive, driven by factors such as technological innovation, data security, flexibility, and customer support. The industry is continually evolving to meet the demands of businesses in an ever-changing regulatory landscape. Established players must adapt and innovate to maintain their competitive position, while new entrants have the opportunity to offer disruptive solutions tailored to specific needs.
Recent Developments Observed in Regulatory Reporting Solution Industry in Western Europe
In 2023, Wolters Kluwer announced the launch of its new regulatory reporting solution for the European Securities and Markets Authority (ESMA) reporting requirements under the Securities Financing Transactions Regulation (SFTR).
In 2023, Vermeg announced the expansion of its regulatory reporting solution portfolio with the launch of its new solution for the reporting of the European Commission on Sustainability-related Information in the Financial Sector (CSRD) requirements.
In 2023, AxiomSL announced the launch of its new regulatory reporting solution for the SONIA Reference Rate Transition of the Bank of England.
In the same year, TAS Group announced the expansion of its regulatory reporting solution portfolio with the launch of its new solution for the Autorité des marchés financiers (AMF) reporting requirements under the MiFID II regulations.
In 2022, Corvil announced the launch of its new regulatory reporting solution for the European Central Bank's (ECB) TARGET2 Securities (T2S) settlement platform.
Some of the Key Players with Regulatory Reporting Solution in Western Europe
Wolters Kluwer (Netherlands)
Vermeg (France)
AxiomSL (United Kingdom)
TAS Group (United Kingdom)
BearingPoint (Germany)
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 1,648.91 million
Projected Industry Size by 2033
US$ 8,427.64 million
Anticipated CAGR from 2023 to 2033
17.3% CAGR
Historical Analysis of Demand for Regulatory Reporting Solution in Western Europe
2018 to 2022
Demand Forecast for Regulatory Reporting Solution in Western Europe
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Regulatory Reporting Solution adoption in Western Europe, Insights on Global Players and their Industry Strategy in Western Europe, Ecosystem Analysis of Providers in Western Europe
Key Countries Analyzed while Studying Opportunities in Regulatory Reporting Solution in Western Europe
The United Kingdom
Germany
France
Netherlands
Italy
Key Companies Profiled
Wolters Kluwer (Netherlands)
Vermeg (France)
AxiomSL (United Kingdom)
TAS Group (United Kingdom)
BearingPoint (Germany)
Key Segments
By Solution:
Regulatory Reporting Software
Cloud-based
On-premises
Services
Managed Services
Professional Services
Consulting
Risk & Compliance
Implementation & Integration
Support & Maintenance
By Industry:
Banks
Insurance
Wealth & Asset Management
Securities & Investments
By Country:
The United Kingdom
Germany
France
Netherlands
Italy
Frequently Asked Questions
What is the Current Size of the Regulatory Reporting Solution Industry in Western Europe?
The industry in Western Europe is valued at US$ 1,648.91 million by 2023.
What is the Projected Growth Rate for the Regulatory Reporting Solution Ecosystem in Western Europe?
The anticipated CAGR for the industry in Western Europe through 2023 is 17.3%.
How big will be the Demand for the Regulatory Reporting Solution in Western Europe?
Demand for the regulatory reporting solution in Western Europe is expected to reach US$ 8,427.64 million by 2033.
Which is the Preferred Solution for Regulatory Reporting Solution industry in Western Europe?
Regulatory reporting software segment is expected to dominate the demand for regulatory reporting solution in Western Europe.
Which Industry Contributes significantly to the Regulatory Reporting Solution industry in Western Europe?
The banking industry segment to remain a key contributor in the regulatory reporting solution ecosystem in Western Europe.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Solution
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2023 to 2033
5.3.1. Regulatory Reporting Software
5.3.1.1. Cloud-based
5.3.1.2. On-premise
5.3.2. Services
5.3.2.1. Managed
5.3.2.2. Consulting Services
5.3.2.3. Risk & Compliance
5.3.2.4. Implementation & Integration
5.3.2.5. Support & Maintenance
5.4. Y-o-Y Growth Trend Analysis By Solution, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Solution, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
6.3.1. Banks
6.3.2. Insurance
6.3.3. Wealth & Asset Management
6.3.4. Securities & Investments
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Country, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Country, 2023 to 2033
7.3.1. UK
7.3.2. Germany
7.3.3. Italy
7.3.4. France
7.3.5. Spain
7.3.6. Rest of Western Europe
7.4. Market Attractiveness Analysis By Country
8. UK Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Region
8.2.1.1. England
8.2.1.2. Scotland
8.2.1.3. Wales
8.2.1.4. Northern Ireland
8.2.2. By Solution
8.2.3. By Industry
8.3. Market Attractiveness Analysis
8.3.1. By Region
8.3.2. By Solution
8.3.3. By Industry
8.4. Key Takeaways
9. Germany Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Region
9.2.1.1. North-east (Germany)
9.2.1.2. North-west (Germany)
9.2.1.3. Central (Germany)
9.2.1.4. South (Germany)
9.2.1.5. Other(Germany)
9.2.2. By Solution
9.2.3. By Industry
9.3. Market Attractiveness Analysis
9.3.1. By Region
9.3.2. By Solution
9.3.3. By Industry
9.4. Key Takeaways
10. Italy Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Region
10.2.1.1. North (Italy)
10.2.1.2. Central (Italy)
10.2.1.3. South (Italy)
10.2.1.4. Islands (Italy)
10.2.2. By Solution
10.2.3. By Industry
10.3. Market Attractiveness Analysis
10.3.1. By Region
10.3.2. By Solution
10.3.3. By Industry
10.4. Key Takeaways
11. France Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Region
11.2.1.1. Northern (France)
11.2.1.2. Central (France)
11.2.1.3. Southern (France)
11.2.1.4. Eastern (France)
11.2.2. By Solution
11.2.3. By Industry
11.3. Market Attractiveness Analysis
11.3.1. By Region
11.3.2. By Solution
11.3.3. By Industry
11.4. Key Takeaways
12. Spain Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Region
12.2.1.1. Basque Country
12.2.1.2. Andalusia
12.2.1.3. Extremadura
12.2.1.4. Catalonia
12.2.1.5. Valencia
12.2.1.6. Rest of Spain
12.2.2. By Solution
12.2.3. By Industry
12.3. Market Attractiveness Analysis
12.3.1. By Region
12.3.2. By Solution
12.3.3. By Industry
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Solution
13.2.2. By Industry
13.3. Market Attractiveness Analysis
13.3.1. By Solution
13.3.2. By Industry
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Solution
14.3.3. By Industry
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Moody’s Analytics
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Wolters Kluwer
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Regnology
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Oracle
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. SS&C Technologies
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Saude Labs
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Vermeg
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Workviva
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. Prima Solutions
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Matterhorn Reporting Services
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.11. Sopra Banking Software
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.12. Sovos Compaliance
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
15.1.13. Bloomberg
15.1.13.1. Overview
15.1.13.2. Product Portfolio
15.1.13.3. Profitability by Market Segments
15.1.13.4. Sales Footprint
15.1.13.5. Strategy Overview
15.1.13.5.1. Marketing Strategy
15.1.14. Fintelix
15.1.14.1. Overview
15.1.14.2. Product Portfolio
15.1.14.3. Profitability by Market Segments
15.1.14.4. Sales Footprint
15.1.14.5. Strategy Overview
15.1.14.5.1. Marketing Strategy
15.1.15. Smart Stram Technologies
15.1.15.1. Overview
15.1.15.2. Product Portfolio
15.1.15.3. Profitability by Market Segments
15.1.15.4. Sales Footprint
15.1.15.5. Strategy Overview
15.1.15.5.1. Marketing Strategy
16. Assumptions & Acronyms Used17. Research Methodology
