AML Compliance Solutions: TAM
Even after extensive research, the total addressable market (TAM) for the global AML compliance solutions market could not be found or estimated. The market size of the global AML compliance solutions market in 2019 was found to be $1.5 billion. More helpful information on the topic has been presented below, along with an outline of the research strategy.
Helpful Information on the Market
- According to a report on Research and Markets, the market size of the global AML compliance solutions market in 2019 was $1.5 billion.
- The market size of the global AML compliance solutions is expected to grow at a CAGR of 19.5% to reach $3.6 billion by 2024.
- The AML compliance solutions market is a segment of the transaction monitoring market. According to research, the market size of the global transaction monitoring market was found to be $8.3 billion in 2018.
- According to a report on KYC Bench, the market size of the KYC solutions segment of the global AML compliance solutions market was estimated to be $1.42 billion.
- However, another research showed that the market size of the KYC solutions segment was $5.6 billion in 2017.
We started the research by looking for the total addressable market (TAM) for the global AML compliance solutions market across multiple research and survey reports on databases, including Global Newswire, PR Newswire, Grand View Research, and TechSci Research. The reports did not have any information regarding the TAM for the required market. Instead, we were able to find the market size of the AML compliance solutions market and the KYC segment of the market. We also looked into some news reports, expert articles, and news releases on databases, such as KYC Bench and the Business Information Industry Association. However, we did not find any information related to the TAM of the market. We were only able to find information regarding the market size.
Therefore, we decided to estimate the required TAM using the triangulation approach. The TAM can be estimated using the data points, such as market share, number of users, the average price of the solutions, and market size of the given market. We then attempted to find the required data points. Even after searching across multiple reports-related databases, including Grand View Research, PR News Wire, and Research and Markets, we could not find all the data points. We were only able to find the information that we had previously obtained. The data points that were required were either unavailable or locked under a paywall. Thus, our attempt at triangulation proved to be futile. Therefore, we have presented the market sizes of the required market and segment in the research after corroborating the data across multiple sources.