Market Overview:
The global AI in financial wellness market is expected to grow at a CAGR of over 25% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for AI-based solutions for financial wellness from banks, depository institutions, and other organizations. Additionally, the growing awareness about the benefits of using AI-based solutions for financial wellness is also contributing to the growth of this market. The global AI in financial wellness market can be segmented on the basis of type into software and services. The software segment is expected to account for a larger share of this market than services during the forecast period. This can be attributed to factors such as rising demand for automation in finance and growing need for cost-effective solutions among organizations. On the basis of application,the global AI in financial wellnessmarket can be divided into bank applications, depository institution applications, and other applications.
Product Definition:
The definition of AI in Financial Wellness is the use of artificial intelligence to help people make better financial decisions. The importance of AI in Financial Wellness is that it can help people save money, invest money wisely, and make other financial decisions that will improve their overall financial health.
Software:
Software is the invisible hand that helps in managing all the financial activities. It's used for tracking money, recording transactions, and automating tasks such as bill payment and transfers. Software has been gaining popularity among banks to reduce manual intervention which leads to faster processing of transactions leading to better customer experience.
The global software market size was valued at USD 45 billion in 2017.
Service:
Service is the new term used in Artificial Intelligence (AI) in financial wellness market. It helps to provide better and faster service with improved accuracy. Service uses machine learning, data analytics, and natural language processing to process customer queries and return accurate results. AI-enabled services can be widely used in wealth management applications for clients as well as for Wealth Management firms (WMS).
Application Insights:
The bank application segment dominated the market in 2017. The use of AI for financial wellness is increasing at a rapid pace in banks to automate routine tasks and offer time-saving solutions. For instance, UBS has implemented an AI system to help its customers manage their money more efficiently by identifying patterns of behavior and recommending appropriate courses of action based on historical data.
The depository institutions application segment is expected to register the highest CAGR over the forecast period owing to increased adoption across various functions such as savings, loans, payments & credits management among others. Moreover, many countries are moving from a cash-based economy towards an electronic payment system which will result in reduced usage of physical currency and increase deposits at banks thus augmenting growth prospects for this segment over the coming years.
Regional Analysis:
North America dominated the global market in 2017. The growth of the regional market can be attributed to several factors such as increasing adoption of artificial intelligence and robotics, rising need for high-speed financial advisory services, growing investments in robo advisors by banks and other financial institutions, among others. Moreover, technological advancements such as voice commands and natural language processing are expected to further boost the demand for AI-based financial wellness solutions over the forecast period.
Asia Pacific is anticipated to emerge as a lucrative region during the forecast period owing to increasing investments by various governments across countries like China and India toward developing smart cities with advanced technologies including AI. In addition, rapid urbanization coupled with growing population has led to an increase in consumer spending on housing loans; thereby driving demand for banking products that incorporate digital banking features along with additional security measures against cyberattacks or frauds using facial recognition technology or voiceprint recognition software among others.
Growth Factors:
- Increasing demand for AI-enabled financial wellness solutions from businesses and consumers.
- Rapid advancements in AI technology and its growing applicability in the financial wellness domain.
- The increasing focus of leading technology companies on developing innovative AI-based financial wellness solutions.
- The rising demand for personalized financial advice and counseling services through AI platforms.
Scope Of The Report
Report Attributes
Report Details
Report Title
AI In Financial Wellness Market Research Report
By Type
Software, Service
By Application
Bank, Depository Institutions, Other
By Companies
Prudential Financial, Fidelity, Mercer, Aduro, Ayco, Beacon Health Options, Best Money Moves, BrightDime, DHS Group, Edukate, Enrich Financial Wellness, Even, Financial Fitness Group, HealthCheck360, Health Advocate, Money Starts Here, PayActive, Purchasing Power, Ramsey Solutions, Sum180, Transamerica, Personetics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global AI In Financial Wellness Market Report Segments:
The global AI In Financial Wellness market is segmented on the basis of:
Types
Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bank, Depository Institutions, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Prudential Financial
- Fidelity
- Mercer
- Aduro
- Ayco
- Beacon Health Options
- Best Money Moves
- BrightDime
- DHS Group
- Edukate
- Enrich Financial Wellness
- Even
- Financial Fitness Group
- HealthCheck360
- Health Advocate
- Money Starts Here
- PayActive
- Purchasing Power
- Ramsey Solutions
- Sum180
- Transamerica
- Personetics
Highlights of The AI In Financial Wellness Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Service
- By Application:
- Bank
- Depository Institutions
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the AI In Financial Wellness Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
AI in financial wellness is a term used to describe the use of artificial intelligence (AI) in order to improve financial decision-making and planning. AI can help individuals make better choices about their finances, including when and how to invest, save for retirement, and pay down debt. AI can also help people monitor their spending patterns and track their progress towards financial goals.
Some of the major players in the ai in financial wellness market are Prudential Financial, Fidelity, Mercer, Aduro, Ayco, Beacon Health Options, Best Money Moves, BrightDime, DHS Group, Edukate, Enrich Financial Wellness, Even, Financial Fitness Group, HealthCheck360, Health Advocate, Money Starts Here, PayActive, Purchasing Power, Ramsey Solutions, Sum180, Transamerica, Personetics.
The ai in financial wellness market is expected to grow at a compound annual growth rate of 25%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. AI In Financial Wellness Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. AI In Financial Wellness Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. AI In Financial Wellness Market - Supply Chain
4.5. Global AI In Financial Wellness Market Forecast
4.5.1. AI In Financial Wellness Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. AI In Financial Wellness Market Size (000 Units) and Y-o-Y Growth
4.5.3. AI In Financial Wellness Market Absolute $ Opportunity
5. Global AI In Financial Wellness Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. AI In Financial Wellness Market Size and Volume Forecast by Type
5.3.1. Software
5.3.2. Service
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global AI In Financial Wellness Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. AI In Financial Wellness Market Size and Volume Forecast by Application
6.3.1. Bank
6.3.2. Depository Institutions
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global AI In Financial Wellness Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. AI In Financial Wellness Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global AI In Financial Wellness Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. AI In Financial Wellness Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global AI In Financial Wellness Demand Share Forecast, 2019-2026
9. North America AI In Financial Wellness Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America AI In Financial Wellness Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America AI In Financial Wellness Market Size and Volume Forecast by Application
9.4.1. Bank
9.4.2. Depository Institutions
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America AI In Financial Wellness Market Size and Volume Forecast by Type
9.7.1. Software
9.7.2. Service
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America AI In Financial Wellness Demand Share Forecast, 2019-2026
10. Latin America AI In Financial Wellness Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America AI In Financial Wellness Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America AI In Financial Wellness Market Size and Volume Forecast by Application
10.4.1. Bank
10.4.2. Depository Institutions
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America AI In Financial Wellness Market Size and Volume Forecast by Type
10.7.1. Software
10.7.2. Service
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America AI In Financial Wellness Demand Share Forecast, 2019-2026
11. Europe AI In Financial Wellness Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe AI In Financial Wellness Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe AI In Financial Wellness Market Size and Volume Forecast by Application
11.4.1. Bank
11.4.2. Depository Institutions
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe AI In Financial Wellness Market Size and Volume Forecast by Type
11.7.1. Software
11.7.2. Service
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. arket Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe AI In Financial Wellness Demand Share, 2019-2026
12. Asia Pacific AI In Financial Wellness Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific AI In Financial Wellness Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific AI In Financial Wellness Market Size and Volume Forecast by Application
12.4.1. Bank
12.4.2. Depository Institutions
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific AI In Financial Wellness Market Size and Volume Forecast by Type
12.7.1. Software
12.7.2. Service
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific AI In Financial Wellness Demand Share, 2019-2026
13. Middle East & Africa AI In Financial Wellness Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa AI In Financial Wellness Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa AI In Financial Wellness Market Size and Volume Forecast by Application
13.4.1. Bank
13.4.2. Depository Institutions
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa AI In Financial Wellness Market Size and Volume Forecast by Type
13.7.1. Software
13.7.2. Service
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa AI In Financial Wellness Demand Share, 2019-2026
14. Competition Landscape
14.1. Global AI In Financial Wellness Market: Market Share Analysis
14.2. AI In Financial Wellness Distributors and Customers
14.3. AI In Financial Wellness Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Prudential Financial
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Fidelity
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Mercer
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Aduro
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Ayco
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Beacon Health Options
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Best Money Moves
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. BrightDime
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. DHS Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Edukate
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Enrich Financial Wellness
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Even
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Financial Fitness Group
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. HealthCheck360
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Health Advocate
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Money Starts Here
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. PayActive
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Purchasing Power
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Ramsey Solutions
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Sum180
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
