The Asia Pacific Know Your Customer Software Market would witness market growth of 20.5% CAGR during the forecast period (2022-2028).
Organizations need to be constantly aware of their consumers' positions due to the current regulatory environment. Therefore, most KYC software is programmed to extract all the pertinent information from the records retrieved from the company's official registries to speed up corporate client onboarding. In addition, the technology digitizes the processes any onboarding officer would have to take, streamlining the process and reducing costs by identifying the company's Ultimate Beneficial Owners (UBOs) and proactively screening them against AML watch lists.
The financial sector's use of cloud technologies and services has expanded due to development. The banking industry can use video KYC software and other remote KYC tools owing to cloud computing. While doing so, the KYC software also enables banks to verify their customers and employees, hence lowering compliance and fraud risks. The banking industry is now widely concentrating on utilizing cloud-based services to boost client identification flexibility and satisfy shifting customer needs.
The Reserve Bank of India (RBI) advised the national banks to follow specific procedures for customer verification. The regulating body issued the regulations for improved KYC and AML inspection under Rule 7 of Prevention of Money-Laundering and Section 35A of the Banking Regulation Act of 1949. RBI also ensues penalties for any bank or financial institution that may show non-compliance or contravention. To further promote KYC awareness among the general public, the Indian government launched mandatory KYC in every bank, which necessitated linking an owner’s identity card with their accounts. Therefore, the know your customer software market has immense growth prospects as many governments have asked the national banks to implement KYC measures to assist AML drives efficiently.
The China market dominated the Asia Pacific Know Your Customer Software Market by Country in 2021; thereby, achieving a market value of $827 million by 2028. The Japan market is registering a CAGR of 19.8% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 21.3% during (2022 - 2028).
Based on Component, the market is segmented into Software and Services. Based on Deployment, the market is segmented into Cloud and On-premise. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End-use, the market is segmented into BFSI, Telecom, Government, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Know Your Customer Software Market is Projected to reach USD 9.5 Billion by 2028, at a CAGR of 19.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Pegasystems, Inc., Experian PLC, RELX PLC (LexisNexis Risk Solutions, Inc.), Fenergo, Truth Technologies, Inc., Equiniti Group plc (Siris Capital Group LLC), ACTICO GmbH, Trulioo, Inc. and Acuant, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Deployment
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End-use
- BFSI
- Telecom
- Government
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Pegasystems, Inc.
- Experian PLC
- RELX PLC (LexisNexis Risk Solutions, Inc.)
- Fenergo
- Truth Technologies, Inc.
- Equiniti Group plc (Siris Capital Group LLC)
- ACTICO GmbH
- Trulioo, Inc
- Acuant, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Know Your Customer Software Market, by Component
1.4.2 Asia Pacific Know Your Customer Software Market, by Deployment
1.4.3 Asia Pacific Know Your Customer Software Market, by Enterprise Size
1.4.4 Asia Pacific Know Your Customer Software Market, by End-use
1.4.5 Asia Pacific Know Your Customer Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Asia Pacific Know Your Customer Software Market by Component
4.1 Asia Pacific Software Market by Country
4.2 Asia Pacific Services Market by Country
Chapter 5. Asia Pacific Know Your Customer Software Market by Deployment
5.1 Asia Pacific Cloud Market by Country
5.2 Asia Pacific On-premise Market by Country
Chapter 6. Asia Pacific Know Your Customer Software Market by Enterprise Size
6.1 Asia Pacific Large Enterprises Market by Country
6.2 Asia Pacific Small & Medium Enterprises Market by Country
Chapter 7. Asia Pacific Know Your Customer Software Market by End-use
7.1 Asia Pacific BFSI Market by Country
7.2 Asia Pacific Telecom Market by Country
7.3 Asia Pacific Government Market by Country
7.4 Asia Pacific Others Market by Country
Chapter 8. Asia Pacific Know Your Customer Software Market by Country
8.1 China Know Your Customer Software Market
8.1.1 China Know Your Customer Software Market by Component
8.1.2 China Know Your Customer Software Market by Deployment
8.1.3 China Know Your Customer Software Market by Enterprise Size
8.1.4 China Know Your Customer Software Market by End-use
8.2 Japan Know Your Customer Software Market
8.2.1 Japan Know Your Customer Software Market by Component
8.2.2 Japan Know Your Customer Software Market by Deployment
8.2.3 Japan Know Your Customer Software Market by Enterprise Size
8.2.4 Japan Know Your Customer Software Market by End-use
8.3 India Know Your Customer Software Market
8.3.1 India Know Your Customer Software Market by Component
8.3.2 India Know Your Customer Software Market by Deployment
8.3.3 India Know Your Customer Software Market by Enterprise Size
8.3.4 India Know Your Customer Software Market by End-use
8.4 South Korea Know Your Customer Software Market
8.4.1 South Korea Know Your Customer Software Market by Component
8.4.2 South Korea Know Your Customer Software Market by Deployment
8.4.3 South Korea Know Your Customer Software Market by Enterprise Size
8.4.4 South Korea Know Your Customer Software Market by End-use
8.5 Singapore Know Your Customer Software Market
8.5.1 Singapore Know Your Customer Software Market by Component
8.5.2 Singapore Know Your Customer Software Market by Deployment
8.5.3 Singapore Know Your Customer Software Market by Enterprise Size
8.5.4 Singapore Know Your Customer Software Market by End-use
8.6 Malaysia Know Your Customer Software Market
8.6.1 Malaysia Know Your Customer Software Market by Component
8.6.2 Malaysia Know Your Customer Software Market by Deployment
8.6.3 Malaysia Know Your Customer Software Market by Enterprise Size
8.6.4 Malaysia Know Your Customer Software Market by End-use
8.7 Rest of Asia Pacific Know Your Customer Software Market
8.7.1 Rest of Asia Pacific Know Your Customer Software Market by Component
8.7.2 Rest of Asia Pacific Know Your Customer Software Market by Deployment
8.7.3 Rest of Asia Pacific Know Your Customer Software Market by Enterprise Size
8.7.4 Rest of Asia Pacific Know Your Customer Software Market by End-use
Chapter 9. Company Profiles
9.1 Pegasystems, Inc.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional Analysis
9.1.4 Research & Development Expense
9.1.5 SWOT Analysis
9.2 Experian PLC
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.2.4.2 Product Launches and Product Expansions:
9.3 RELX PLC (LexisNexis Risk Solutions, Inc.)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Recent strategies and developments:
9.3.4.1 Acquisition and Mergers:
9.4 Fenergo
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Partnerships, Collaborations, and Agreements:
9.4.2.2 Product Launches and Product Expansions:
9.4.2.3 Acquisition and Mergers:
9.5 Truth Technologies, Inc.
9.5.1 Company Overview
9.6 Equiniti Group plc (Siris Capital Group LLC)
9.6.1 Company Overview
9.7 ACTICO GmbH
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.8 Trulioo, Inc.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Product Launches and Product Expansions:
9.8.2.2 Acquisition and Mergers:
9.8.2.3 Geographical Expansions:
9.9 Acuant, Inc.
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Product Launches and Product Expansions:
9.9.2.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Know Your Customer Software Market
TABLE 4 Product Launches And Product Expansions– Know Your Customer Software Market
TABLE 5 Acquisition and Mergers– Know Your Customer Software Market
TABLE 6 Geographical Expansions– Know Your Customer Software Market
TABLE 7 Asia Pacific Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 8 Asia Pacific Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 9 Asia Pacific Software Market by Country, 2018 - 2021, USD Million
TABLE 10 Asia Pacific Software Market by Country, 2022 - 2028, USD Million
TABLE 11 Asia Pacific Services Market by Country, 2018 - 2021, USD Million
TABLE 12 Asia Pacific Services Market by Country, 2022 - 2028, USD Million
TABLE 13 Asia Pacific Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 14 Asia Pacific Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 15 Asia Pacific Cloud Market by Country, 2018 - 2021, USD Million
TABLE 16 Asia Pacific Cloud Market by Country, 2022 - 2028, USD Million
TABLE 17 Asia Pacific On-premise Market by Country, 2018 - 2021, USD Million
TABLE 18 Asia Pacific On-premise Market by Country, 2022 - 2028, USD Million
TABLE 19 Asia Pacific Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 20 Asia Pacific Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 21 Asia Pacific Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 22 Asia Pacific Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 23 Asia Pacific Small & Medium Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 24 Asia Pacific Small & Medium Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 25 Asia Pacific Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 26 Asia Pacific Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 27 Asia Pacific BFSI Market by Country, 2018 - 2021, USD Million
TABLE 28 Asia Pacific BFSI Market by Country, 2022 - 2028, USD Million
TABLE 29 Asia Pacific Telecom Market by Country, 2018 - 2021, USD Million
TABLE 30 Asia Pacific Telecom Market by Country, 2022 - 2028, USD Million
TABLE 31 Asia Pacific Government Market by Country, 2018 - 2021, USD Million
TABLE 32 Asia Pacific Government Market by Country, 2022 - 2028, USD Million
TABLE 33 Asia Pacific Others Market by Country, 2018 - 2021, USD Million
TABLE 34 Asia Pacific Others Market by Country, 2022 - 2028, USD Million
TABLE 35 Asia Pacific Know Your Customer Software Market by Country, 2018 - 2021, USD Million
TABLE 36 Asia Pacific Know Your Customer Software Market by Country, 2022 - 2028, USD Million
TABLE 37 China Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 38 China Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 39 China Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 40 China Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 41 China Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 42 China Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 43 China Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 44 China Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 45 China Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 46 China Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 47 Japan Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 48 Japan Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 49 Japan Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 50 Japan Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 51 Japan Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 52 Japan Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 53 Japan Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 54 Japan Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 55 Japan Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 56 Japan Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 57 India Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 58 India Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 59 India Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 60 India Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 61 India Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 62 India Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 63 India Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 64 India Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 65 India Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 66 India Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 67 South Korea Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 68 South Korea Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 69 South Korea Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 70 South Korea Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 71 South Korea Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 72 South Korea Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 73 South Korea Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 74 South Korea Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 75 South Korea Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 76 South Korea Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 77 Singapore Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 78 Singapore Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 79 Singapore Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 80 Singapore Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 81 Singapore Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 82 Singapore Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 83 Singapore Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 84 Singapore Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 85 Singapore Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 86 Singapore Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 87 Malaysia Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 88 Malaysia Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 89 Malaysia Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 90 Malaysia Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 91 Malaysia Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 92 Malaysia Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 93 Malaysia Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 94 Malaysia Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 95 Malaysia Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 96 Malaysia Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 97 Rest of Asia Pacific Know Your Customer Software Market, 2018 - 2021, USD Million
TABLE 98 Rest of Asia Pacific Know Your Customer Software Market, 2022 - 2028, USD Million
TABLE 99 Rest of Asia Pacific Know Your Customer Software Market by Component, 2018 - 2021, USD Million
TABLE 100 Rest of Asia Pacific Know Your Customer Software Market by Component, 2022 - 2028, USD Million
TABLE 101 Rest of Asia Pacific Know Your Customer Software Market by Deployment, 2018 - 2021, USD Million
TABLE 102 Rest of Asia Pacific Know Your Customer Software Market by Deployment, 2022 - 2028, USD Million
TABLE 103 Rest of Asia Pacific Know Your Customer Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 104 Rest of Asia Pacific Know Your Customer Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 105 Rest of Asia Pacific Know Your Customer Software Market by End-use, 2018 - 2021, USD Million
TABLE 106 Rest of Asia Pacific Know Your Customer Software Market by End-use, 2022 - 2028, USD Million
TABLE 107 Key Information – Pegasystems, Inc.
TABLE 108 key information – Experian PLC
TABLE 109 Key Information – RELX PLC
TABLE 110 Key Information – Fenergo
TABLE 111 Key Information – Truth Technologies, Inc.
TABLE 112 Key Information – Equiniti Group plc
TABLE 113 Key Information – ACTICO GmbH
TABLE 114 key Information – Trulioo, Inc.
TABLE 115 Key Information – Acuant, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 SWOT Analysis: Pegasystems, Inc.
FIG 5 Recent strategies and developments: Experian PLC
FIG 6 Recent strategies and developments: Fenergo
FIG 7 Recent strategies and developments: Trulioo, Inc.
FIG 8 Recent strategies and developments: Acuant, Inc.