Artificial Intelligence in BFSI Market Size Worth USD 68.23 Billion in 2028, Market Trends – Increased usage during COVID-19 pandemic

April 13 20:50 2021
Market Size – USD 5.64 Billion in 2020, Market Growth – at a CAGR of 36.5%, Market Trends – Increased usage during COVID-19 pandemic

A closer look at the aspects including but not limited to Artificial Intelligence in BFSI market segmentation by the end-user, end-use, geography, type, and application forms an integral part of the research report.

The global Artificial Intelligence in BFSI market size is expected to reach USD 68.23 Billion at a steady CAGR of 36.5% in 2028, according to latest analysis by Emergen Research. Artificial Intelligence (AI) helps in predicting future trends based on analysis of past behavior of customers, and also helps banks to detect patterns in laundering, identify fraud, and make customer recommendations. These advantages are resulting in increasing deployment of AI in banking operations, which is driving revenue growth of the global Artificial Intelligence in BFSI market.

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AI understands customer behavior and allows banks to customize financial products and services by adding personalized features to build strong relationships with customers. Digital payment advisors, Artificial Intelligence bots, and biometric fraud detection mechanisms result in high quality of services to a wider customer base. AI helps in increasing revenue, reducing costs, and boosting potential of profit.

Key players in the market include Amazon Web Services (AWS), Inc., Google LLC, CognitiveScale, Inc., Descartes Labs, Inc., Avaamo, Inc., Intel Corporation, Baidu, Inc., SAP SE, Microsoft Corporation, and Oracle Corporation.

The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Artificial Intelligence in BFSI market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.

Emergen Research has segmented the global Artificial Intelligence in BFSI market on the basis of offering, solution, technology, application, and region:

  • Offering Component Outlook (Revenue, USD Million; 2018–2028)
    • Software
    • Services
    • Hardware
  • Solution Outlook (Revenue, USD Million; 2018–2028)
    • Fraud Detection & Prevention
    • Customer Relationship Management
    • Chabot
    • Anti-money Laundering
    • Data Analytics & Prediction
    • Others
  • Technology Outlook (Revenue, USD Million; 2018–2028)
    • Machine Learning
    • Context Aware Processing
    • Natural Language Processing (NLP)
    • Deep Learning
    • Others
  • Application Outlook (Revenue, USD Million; 2018–2028)
    • Risk Management
    • Financial Advisory
    • Compliance & Security
    • Back Office / Operation Customer Service

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The global Artificial Intelligence in BFSI market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Artificial Intelligence in BFSI market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Artificial Intelligence in BFSI market.

Detailed Regional Analysis covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Objectives of the Report:

  • Study of the global Artificial Intelligence in BFSI market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
  • Industrial structure analysis of the Artificial Intelligence in BFSI market by identification of various sub-segments
  • Extensive analysis of key market players along with their SWOT analysis
  • Competitive landscape benchmarking
  • Analysis of Artificial Intelligence in BFSI market based on growth trends, futuristic outlook, and contribution to the total growth of the market
  • Analysis of drivers, constraints, opportunities, challenges, and risks in the global Artificial Intelligence in BFSI market
  • Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances

Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2028

Chapter 3. Key Insights

Chapter 4. Artificial Intelligence in BFSI Market Segmentation & Impact Analysis

    4.1. Artificial Intelligence in BFSI Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Increasing preferences for personalized financial services

                    4.2.2.2. Advancement in technology

          4.2.3. Market restraints analysis

                    4.2.3.1. Increase in concern for security.

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Chapter 5. Artificial Intelligence in BFSI Market By Offering Insights & Trends, Revenue (USD Billion)

    5.1. Offering Dynamics & Market Share, 2021 & 2028

          5.1.1. Software

          5.1.2. Services

          5.1.3. Hardware

Chapter 6. Artificial Intelligence in BFSI Market By Solution Insights & Trends Revenue (USD Billion)

    6.1. Solution Dynamics & Market Share, 2021 & 2028

          6.1.1. Fraud Detection & Prevention

          6.1.2. Customer Relationship Management

          6.1.3. Chabot

          6.1.4. Anti-money Laundering

          6.1.5. Data Analytics & Prediction

          6.1.6. Others

Chapter 7. Artificial Intelligence in BFSI Market By Technology Insights & Trends, Revenue (USD Billion)

CONTINUED…!

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