The survey, set to be fully unveiled at the Conference of Major Superannuation Funds on the Gold Coast this week, also found concerns about "continued government tinkering with superannuation" in the years leading up to 2025.
Respondents also predicted that demographic shifts will create 'divergent' investment opportunities; new assets will be developed; there will be a greater emphasis on risk-return analysis; and technology will continue to revolutionise the sector.
Commenting on the findings, BNP Paribas Securities Services chief administrative officer Daryl Crich said more than 40 per cent of respondents claimed regulation would still be the biggest risk for the super industry in 2025.
"Over 70 per cent expect there will be even more regulation in a decade," Mr Crich said.
Individual respondents also called on regulators to recognise the "vast differences between superannuation and banking".
One respondent also argued that APRA has "gone beyond its original mandate of being a prudential regulator".
"This response is no shock when you consider the changes we have seen in just the last few years and the additional work required for Stronger Super," said BNP Paribas.
AIST chief executive Tom Garcia said it was unsurprising that the industry believes the government will continue to look at super as a "source of revenue" over coming years.
"The research shows that the industry has significant concerns about regulatory change in the next 10 years – another compelling reason for the need to define the objectives of super and set a strategic plan for the industry," Mr Garcia said.
Mr Crich added that "an overwhelming majority of respondents also cited regulation as being the greatest factor in stifling innovation and progress at their fund".
