NEWARK, Del, June 10, 2022 (GLOBE NEWSWIRE) – The global AI in the fintech market is estimated at $ 10.1 billion in 2021 and is estimated to raise $ 11.76 billion by 2022, according to a report published by ESOMAR-certified Future Market Insights. The market is expected to raise USD 54 billion by 2032, while registering a CAGR of 16.5% in the forecast period from 2022 to 2032. The expansion of the market can be attributed to the increasing emphasis on customer security against cyber and bank fraud across various development areas. country.
From 2017 to 2021, the market flourished with a CAGR of 16%. Growing applications in the business analysis and reporting segment is another prominent factor that strengthens industrial growth during the assessment period. The managed service is likely to grow rapidly due to its help in managing AI-enabled apps in fintech. Fintech start-ups use AI to provide professional services that are expected to drive the development of the segment.
On the contrary, due to the increasing incidence of private information leakage and debit card cloning, it is expected to be the most important factor hindering market expansion. Moreover, proper integration and analysis of a huge amount of data makes the process even more complex, which is another factor that hinders industry expansion in the forecast period.
Important things from the market research
- AI in fintech for business analysis and reporting took a market share of 32%, and documented a CAGR of 16% throughout the forecast period
- The on-premise segment expands to a CAGR of 17% during the forecast period
- North America is expected to secure $ 35 billion by 2032, while expanding to a 16.5% CAGR
- Asia Pacific will record a CAGR of 16.5% during the forecast period
- Global market for artificial intelligence in fintech will increase 4.6x from 2022 to 2032
“The global AI in the Fintech market is expected to show a remarkable growth in the forecast period due to the increasing emphasis on the customer’s account security.against cyber and bank fraud, says an FMI analyst.
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Key segments covered The AI and Fintech Industry Survey
AI in Fintech Market by components:
- AI and Fintech Solutions
- AI and Fintech Services
AI in Fintech Market by deployment:
- Cloud-based AI in Fintech
- On-premise AI and Fintech
AI in Fintech Market by application:
- AI in Fintech across virtual assistants
- AI in Fintech across Business Analytics and reporting
- AI in Fintech across customer behavior analysis
- AI in Fintech across fraud detection
- AI in Fintech across quantitative and asset management
- AI in Fintech across other applications
Fintech Market AI by Region:
- North America AI in the Fintech Market
- Latin America AI in the Fintech market
- Europe AI and Fintech Market
- Asia Pacific AI in the Fintech market
- Middle East and Africa AI in the Fintech market
Challenging landscape
Key players in the global AI in the Fintech market include Microsoft, Google LLC, Salesforce, Inc., International Business Machines Corp., Amelia US LLC, Nuance Communications, Inc., ComplyAdvantage.com, Narrative Science, Affirm, Inc., Upstart Network , Inc., Instructure, Inc., Intel, Inbenta Technologies, Amazon Web Services, Oracle, among others. Some of the latest important developments among the players are:
- In October 2021, technology giant Microsoft Wednesday launched a new program, Microsoft AI Innovation, to nurture and scale startups that utilize artificial intelligence (AI).
- In April 2022, the Conversational Engagement platform acquired Gupshup Active.Ai, a conversational AI startup used by banks and fintech firms in cash agreements.
- In May 2022, Salesforce agreed to acquire Troops.ai, which provides a revenue-sharing solution that works with sales speed, forecasting, visibility and collaboration. Troops have designed tools to deliver real-time insights from various systems, such as Salesforce, to engagement sites such as Slack.
More valuable insights available
Future Market Insights, in its new offering, presents an objective analysis of the global AI in the Fintech market, and presents historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals essential insights based on component (solutions, services), distribution (cloud and local and, application (virtual assistant, business analysis and reporting, customer behavior analysis, fraud detection, quantitative and asset management and others) across five main regions (North America, Latin America, Europe, Asia-Pacific and the Middle East and Africa).
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Table of contents
1. Summary
1.1. Global market prospects
1.2. Trends on the demand side
1.3. Trends on the offer side
1.4. Analysis of technology roadmap
1.5. Analysis and recommendations
2. Market overview
2.1. Market coverage / taxonomy
2.2. Market definition / scope / restrictions
3. Market background
3.1. Market dynamics
3.1.1. Drivers
3.1.2. Limitations
3.1.3. Possibility
3.1.4. Trends
3.2. Scenario forecast
3.2.1. Demand in optimistic scenario
3.2.2. Demand in probable scenario
3.2.3. Demand in conservative scenario
3.3. Opportunity map analysis
3.4. Investment feasibility matrix
3.5. Value chain analysis
3.5.1. Profit margin analysis
3.5.2. Service providers
3.6. PESTLE and Porter’s analysis
3.7. Regulatory landscape
3.7.1. By key regions
3.7.2. By key country
3.8. Regional market prospects for parents
4. Global AI in Fintech Market Analysis 2017–2021 and Forecast, 2022–2032
4.1. Analysis of historical market size (US $ Mn), 2017–2021
4.2. Current and Future Market Size Value (US $ Mn) Estimates, 2022-2032
4.2.1. Annual growth trend analysis
4.2.2. Absolute $ opportunity analysis
5. Global AI in Fintech market analysis 2017-2021 and forecast 2022-2032, by components
5.1. Introduction / Key Finds
5.2. Historical Market Size Value (US $ Mn) Analysis by Components, 2017-2021
5.3. Current and future market size Value (US $ Mn) Analysis and forecast by components, 2022-2032
5.3.1. Solutions
5.3.2. Services
5.3.2.1. Managed services
5.3.2.2. Professional services
5.4. Annual growth trend analysis by components, 2017–2021
5.5. Absolute $ opportunity analysis by components, 2022-2032
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