Global AI in Fintech Market
Global AI in Fintech Market was valued at US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during a forecast period.
New product innovation and huge investment in AI are the major driving factor in AI in fintech market. Additionally, the insightful details about the cash flow and income and expense are gaining traction from the end-user. Financial firms have been the early adopters of the mainframe computer, relational databases, and have eagerly anticipated for the next level of computational power. Moreover, the fintech industry is witnessing a considerable rise in the number of startups. These players are also highly attracted to the adoption of AI to automate and expand their businesses.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The growing mobile workforce will surge further innovation in the fintech market, and increasing use of AI-enabled technological solution in the capital market are some opportunities in the market for AI in fintech. However, lack of skilled consultants to deploy AI in fintech is expected to hinder the growth of the WiFi AI in fintech market during the forecast period
Based on application, business analytics and reporting is the leading segment in AI in Fintech market globally and is composed to grow at a high rate over the course of next five years, as it helps in the analysis of consumer behavior.
On the basis of deployment model, the cloud segment is expected to register the highest CAGR in the coming years, as it offers a wide range of solutions to cater to AI in Fintech market globally.
Region-wise, North America holds the largest market share in the AI in fintech market. North America is at the front of the AI in Fintech market, on the back of high investments in R&D in the developed countries of the U.S and Canada. North America is regarded as the most competitive and fast developing AI technology market, in the finance industry. North America, among all the regions, has registered the maximum adoption of AI in Fintech solutions, owing to its early implementation in a majority of application areas.
AI in Fintech is an associated market owing to the presence of several dominant players in the market. In terms of market share, few of the major players dominate the market for AI in fintech. Many acquisitions and collaboration of large companies are expected to take place shortly which focuses on innovation. In Sept 2017 MIT and IBM joined arms to invest in the AI platform of the latter, Watson and unleash & enrich the application of it in diverse industries with fintech. This is expected to boost the company’s presence and help the organization to be on par with its counterparts.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global AI in Fintech Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global AI in Fintech Market.
Scope of the Global AI in Fintech Market
Global AI in Fintech Market, By Component
• Solutions
o Software Tools
o Platforms
• Services
o Managed
o Professional
Global AI in Fintech Market, By Deployment Mode
• Cloud
• On-premises
Global AI in Fintech Market, By Application
• Virtual Assistant (Chatbots)
• Business Analytics and Reporting
• Customer Behavioral Analytics
• Others
Global AI in Fintech Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global AI in Fintech Market
• IBM
• Intel
• Inbenta Technologies
• Nuance Communications
• Complyadvantage.Com
• Salesforce.Com
• Amazon Web Services
• Samsung
• Ipsoft
• Next It Corp.
• Autodesk
• Microsoft
• Oracle
• SAP
• Fanuc
• Hanson Robotics
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