Market Overview:
The global artificial intelligence in fintech market is expected to grow at a CAGR of over 28% during the forecast period from 2018 to 2030. The increasing demand for AI-based solutions for financial institutions and the growing adoption of cloud-based AI services are some of the major factors driving the growth of this market. The rising demand for virtual assistant (chatbots) and business analytics and reporting is also contributing to the growth of this market. However, lack of awareness about AI technology among end users may restrain the growth of this market to some extent during the forecast period. On basis on type, Cloud Based segment accounted largest share in global Artificial Intelligence in Fintech Market by Type in 2017 and it will continue its dominance by 2030 with highest CAGR due to various benefits such as scalability, flexibility, low cost & easy deployment which make it more preferable choice among other types segments. On basis on application, Virtual Assistant (Chatbots) segment accounted largest share in global Artificial Intelligence In Fintech Market by Application Segmentation in 2017and it will continue its dominance throughout Forecast Period with highest CAGR due high adoption rate across different industry verticals .
Product Definition:
Artificial Intelligence is a process of programming a computer to make decisions on its own. In the world of finance, AI can be used in many different ways. For example, it can help banks automate their customer service processes or help investors predict stock prices. Additionally, AI can also be used to create “chatbots” which are computer programs that can mimic human conversation. Chatbots are becoming increasingly popular in the financial sector as they allow customers to ask questions and get answers quickly and easily. Overall, AI is playing an increasingly important role in the world of finance and will likely continue to do so for years to come.
Cloud Based:
Cloud-based solutions are expected to witness significant growth in the artificial intelligence (AI) in fintech market owing to benefits such as on-demand availability of compute, storage, and network. The AI in Fintech industry is anticipated to grow at a CAGR of XX% over the forecast period.
On Premise:
On premise is a term used for the infrastructure that is present on the client's premises. It can be in the form of hardware or software. The on-premise software solutions are installed and run from an organization’s server to provide services such as data analytics, fraud detection, risk management, and business intelligence to its clients. These solutions offer high security due to their internal deployment model; however they may not offer external protection if exposed to online threats.
Application Insights:
The virtual assistant chatbots segment dominated the market in 2017. This is attributed to the rising adoption of such services by financial institutions and other organizations for a variety of purposes, including fraud detection, customer support, and mortgage applications. The virtual assistant chatbot can be classified into two categories; one that provides human-like interaction to customers through text, speech or touch and another that enables automated tasks using natural language processing.
The business analytics & reporting segment is anticipated to witness significant growth over the forecast period owing to increasing demand from various industries for advanced data analysis pertaining to operations for effective decision-making processes. Artificial intelligence in fintech offers robust solutions capable of delivering fast results with high accuracy while augmenting conventional analytical techniques used across several industry verticals including banking, financial services and insurance (BFSI).
Regional Analysis:
The North American regional market is expected to dominate the global artificial intelligence in fintech industry over the forecast period. The growth of this region can be attributed to increasing investments in R&D and growing adoption of cloud-based technologies. Moreover, rising demand for automation across various financial services activities is anticipated to drive the regional market growth over the forecast period.
However, Asia Pacific region is projected to grow at a significant rate during the same period owing to increasing use of AI technology by banks and other financial institutions for fraud detection, customer support, loan applications among others. Furthermore, increased usage by retail banks for risk assessment and credit scoring has also contributed significantly towards regional growth.
Growth Factors:
- Increasing demand for AI-powered financial services: The global fintech market is expected to grow at a CAGR of 19.5% during the forecast period, reaching a value of 5.9 billion by 2025. This growth can be attributed to the increasing demand for AI-powered financial services, which are efficient, accurate and provide real-time insights.
- Proliferation of digital channels: The proliferation of digital channels has led to an increase in customer data volumes and complexity across different channels such as online banking, social media platforms, and mobile apps etc. This has created opportunities for AI solutions that can help organizations make sense of this data and provide better customer experiences..
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Intelligence in Fintech Market Research Report
By Type
Cloud Based, On Premise, Artificial Intelligence in Fintec
By Application
Virtual Assistant (Chatbots), Business Analytics and Reporting, Customer Behavioral Analytics, Others
By Companies
Microsoft, Google, Salesforce, IBM, Intel, Amazon Web Services, ComplyAdvantage, Inbenta Technologies, IPsoft, Nuance Communications, Artificial Intelligence in Fintec
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Intelligence in Fintech Market Report Segments:
The global Artificial Intelligence in Fintech market is segmented on the basis of:
Types
Cloud Based, On Premise, Artificial Intelligence in Fintec
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
Virtual Assistant (Chatbots), Business Analytics and Reporting, Customer Behavioral Analytics, Others
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:
- Microsoft
- Google
- Salesforce
- IBM
- Intel
- Amazon Web Services
- ComplyAdvantage
- Inbenta Technologies
- IPsoft
- Nuance Communications
- Artificial Intelligence in Fintec
Highlights of The Artificial Intelligence in Fintech 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:
- Cloud Based
- On Premise
- Artificial Intelligence in Fintec
- By Application:
- Virtual Assistant (Chatbots)
- Business Analytics and Reporting
- Customer Behavioral Analytics
- Others
- 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 Artificial Intelligence in Fintech 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:
- Correctly Positioning New 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?
Artificial intelligence (AI) is a subset of machine learning that uses algorithms to simulate or emulate human cognitive processes. Fintech companies are increasingly using AI to automate and improve the customer experience, identify fraud, and make other strategic decisions.
Some of the key players operating in the artificial intelligence in fintech market are Microsoft, Google, Salesforce, IBM, Intel, Amazon Web Services, ComplyAdvantage, Inbenta Technologies, IPsoft, Nuance Communications, Artificial Intelligence in Fintec.
The artificial intelligence in fintech market is expected to register a CAGR of 28%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Intelligence in Fintech 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. Artificial Intelligence in Fintech Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Artificial Intelligence in Fintech Market - Supply Chain
4.5. Global Artificial Intelligence in Fintech Market Forecast
4.5.1. Artificial Intelligence in Fintech Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Artificial Intelligence in Fintech Market Size (000 Units) and Y-o-Y Growth
4.5.3. Artificial Intelligence in Fintech Market Absolute $ Opportunity
5. Global Artificial Intelligence in Fintech 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. Artificial Intelligence in Fintech Market Size and Volume Forecast by Type
5.3.1. Cloud Based
5.3.2. On Premise
5.3.3. Artificial Intelligence in Fintec
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Artificial Intelligence in Fintech 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. Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
6.3.1. Virtual Assistant (Chatbots)
6.3.2. Business Analytics and Reporting
6.3.3. Customer Behavioral Analytics
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Artificial Intelligence in Fintech 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. Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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. Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Demand Share Forecast, 2019-2026
9. North America Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
9.4.1. Virtual Assistant (Chatbots)
9.4.2. Business Analytics and Reporting
9.4.3. Customer Behavioral Analytics
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Artificial Intelligence in Fintech Market Size and Volume Forecast by Type
9.7.1. Cloud Based
9.7.2. On Premise
9.7.3. Artificial Intelligence in Fintec
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 Artificial Intelligence in Fintech Demand Share Forecast, 2019-2026
10. Latin America Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
10.4.1. Virtual Assistant (Chatbots)
10.4.2. Business Analytics and Reporting
10.4.3. Customer Behavioral Analytics
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Artificial Intelligence in Fintech Market Size and Volume Forecast by Type
10.7.1. Cloud Based
10.7.2. On Premise
10.7.3. Artificial Intelligence in Fintec
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 Artificial Intelligence in Fintech Demand Share Forecast, 2019-2026
11. Europe Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
11.4.1. Virtual Assistant (Chatbots)
11.4.2. Business Analytics and Reporting
11.4.3. Customer Behavioral Analytics
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Artificial Intelligence in Fintech Market Size and Volume Frecast by Type
11.7.1. Cloud Based
11.7.2. On Premise
11.7.3. Artificial Intelligence in Fintec
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market 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 Artificial Intelligence in Fintech Demand Share, 2019-2026
12. Asia Pacific Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
12.4.1. Virtual Assistant (Chatbots)
12.4.2. Business Analytics and Reporting
12.4.3. Customer Behavioral Analytics
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Artificial Intelligence in Fintech Market Size and Volume Forecast by Type
12.7.1. Cloud Based
12.7.2. On Premise
12.7.3. Artificial Intelligence in Fintec
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 Artificial Intelligence in Fintech Demand Share, 2019-2026
13. Middle East & Africa Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech 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 Artificial Intelligence in Fintech Market Size and Volume Forecast by Application
13.4.1. Virtual Assistant (Chatbots)
13.4.2. Business Analytics and Reporting
13.4.3. Customer Behavioral Analytics
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Artificial Intelligence in Fintech Market Size and Volume Forecast by Type
13.7.1. Cloud Based
13.7.2. On Premise
13.7.3. Artificial Intelligence in Fintec
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 Artificial Intelligence in Fintech Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Artificial Intelligence in Fintech Market: Market Share Analysis
14.2. Artificial Intelligence in Fintech Distributors and Customers
14.3. Artificial Intelligence in Fintech Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Microsoft
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Google
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Salesforce
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. IBM
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Intel
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Amazon Web Services
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. ComplyAdvantage
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Inbenta Technologies
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. IPsoft
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Nuance Communications
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Artificial Intelligence in Fintec
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
