The global AI in Fintech Market is forecast to reach USD 26.77 Billion by 2026, according to a new report by Reports and Data. The AI in fintech incorporates computational power and deep learning algorithms to the financial technology. A next-level of superiority in proper decision making, real-time automated customer support, reliable and faster trading & management, and overall fluidity in the workflow is accumulated with the help of artificial intelligence. Fraud detection, transaction risk investigation, consumer analysis are some of the highly impactful sectors having rejuvenated the traditional fintech operations with AI. The rising requirement of the virtual assistance for the customer support in various financial sectors and deep machine learning algorithms for asset management are some of the highest growing applications in this market. Cloud deployment is likely to enrich broadly due to the higher adoption rate of the cloud-based services in the financial SME’s.
APAC is forecasted to achieve the fastest growth of about 45.6% in the period 2019 – 2026, due to its extensive development in information technology engineering coupled with the massive demand for AI in BFSI sectors and substantial proliferation of the internet availability. India and China are some of the fastest-growing countries due to the immense growth in their banking sectors coupled with a rise in the potential customer base.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2157
Further key findings from the report suggest
- Using AI in asset management helps in the asset modeling and derivative pricing & inventory according to different portfolios of investment and business scenario. Citibank has been investing in artificial intelligence to anonymously share the portfolios of the investors which helps in the investment strategies for their potential customers. The segment had a market share of 10.6% in 2018 and would grow at a CAGR of 43.0% during the forecast period.
- Virtual assistance includes AI-based real-time insightful virtual customer support, which is capable of catering to all the customers, even in high volume requests with the meaningful solutions for their problems and queries. The virtual assistance is calculated to achieve a market share of 11.7%, having grown with the highest CAGR of 44.8% throughout the forecast period.
- Consultancy services related to customer engagement tactics, cost reductions, operational development, fluidity risk investigation, and others are offered to the clients. TCS provides AI-based supervision to the core banking facility, credit lines assessments, and P&C Insurance services among others, for the BFSI sectors. The segment is estimated to gain an overall market share of 17.7% by the end of the forecast period.
- APAC is forecasted to achieve the fastest growth of about 45.6% throughout the forecast period, owing to its extensive growth in the BFSI sector coupled with the growing trend of digital banking in counties such as China, India, and Japan.
- Europe would reach a market share of 27.7% by 2026 and would grow at a CAGR of 39.7% in the forecast period. United Kingdom and Germany have the most valuable players in this region.
- Key participants include Microsoft, IBM, Nuance Communications, Amazon Web Services, Salesforce.Com, TIBCO Software, Samsung Group, Trifacta Software Inc., Zeitgold GmbH, and Next IT Corporation.
AI in Fintech Market Segmentation:
Type Outlook (Revenue: USD Billion; 2016-2026)
Component Outlook (Revenue: USD Billion; 2016-2026)
Deployment Mode Outlook (Revenue: USD Billion; 2016-2026)
Applications Outlook (Revenue: USD Billion; 2016-2026)
Regional analysis covers:
North America (U.S., Canada, Mexico)
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)
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2157
Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. AI in Fintech Market Segmentation & Impact Analysis
4.1. AI in Fintech Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. The high proliferation rate of adopting AI in the BFSI sectors in the emerging economies
220.127.116.11. Increasing in the mobile networking industries and digital banking service
18.104.22.168. High success rate in risk investigation and fraud detection
22.214.171.124. Technological advancements with AI
4.2.3. Market restraints analysis
126.96.36.199. Lack of skilled personnel for AI fintech
188.8.131.52. Expensive R&D for the solution providers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. AI in Fintech Market By Type Insights & Trends
5.1. Type Dynamics & Market Share, 2019 & 2026
5.2.1. Market estimates and forecast, 2016 – 2026 (USD Billion)
5.2.2. Market estimates and forecast, By Region, 2016 – 2026 (USD Billion)
5.3.1. Market estimates and forecast, 2016 – 2026 (USD Billion)
5.3.2. Market estimates and forecast, By Region, 2016 – 2026 (USD Billion)
Chapter 6. AI in Fintech Market By Component Insights & Trends
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2157
Thank you for reading our report. To know more about the customization of the report or further query about the report, please get in touch with us. Our team will ensure the report is well suited to your requirements.