DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence in BFSI Market by Offerings Solution Technology : Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global artificial intelligence (AI) in BFSI market was valued at $17,765.2 million in 2018 and is expected to reach $247,366.7 million by 2026, registering a CAGR of 38.0% from 2019 to 2026.
Artificial intelligence is the recreation of human intelligence that perform tasks like humans. In financial institutions and other major finance industries, AI has become a core adaption and is expected to change the overall scenario of product and service offerings. For instance, insurance companies are improving risk models to maintain customer loyalty and client satisfaction with the help of advanced AI technological platforms.
Various fraud detection, risk mitigation, back-end office works with thousands of people processing customer requests are improved with the help of AI enabled technologies such as chatbots, machine learning, and other such technologies, which boosts the growth of the market. In addition, the reduction in the tendency of human errors by automation of backend processes and enhancement in proactive customer experience is expected to drive the growth of the AI in the BFSI market. However, rise in security concerns, inadequacy of trust while issuing customer data, and higher cost for implementation of AI technologies is expected to restrain the market growth. New entrants like FinTech (Financial Technology) with advance features in the market, new initiatives in government regulations, and existing traditional banking system provides lucrative opportunities for the market growth.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global artificial intelligence (AI) in BFSI market along with the current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2019 to 2026 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps in understanding the offerings, solution, and technology across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Findings of the Artificial Intelligence in BFSI Market:
- The hardware segment is expected to be the fastest growing segment during the forecast period, in terms of value.
- The U.S. dominated the North America artificial intelligence in BFSI market in 2018 and is projected to grow at a CAGR of 35.5% from 2019 to 2026.
- In terms of revenue, the natural language processing segment accounted for the highest revenue in AI in BFSI market in 2018.
- North America held largest artificial intelligence in BFSI market share in 2018 and is anticipated to remain dominant during the forecast period. The global artificial intelligence in BFSI market is growing in North America due to countries prioritizing technological advancements, with higher investments in artificial intelligence technologies, aiming at improving customer services and increasing revenue in their businesses. The key players operating in the global AI in BFSI market include as Alphabet Inc. (Google), Baidu, Inc., Inbenta Technologies, Inc., Intel Corporation, International Business Machines Corporation (IBM),Microsoft Corporation, Oracle Corporation ,Palantir Technologies Inc., SAP SE,salesforce.com, inc..Other players operating in the market are Lexalytics Inc., Digital Reasoning Inc., Interaction LLC, Inc., Ipsoft Inc., and Zest Finance.
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
Chapter 2: Executive Summary
2.1. Key Findings Of The Study
2.2. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.3. Top Player Positioning, 2017
3.4. Porter's Five Forces Analysis
3.5. Market Dynamics
Chapter 4: Artificial Intelligence In Bfsi Market, By Offerings
Chapter 5: Artificial Intelligence In Bfsi Market, By Solution
5.3. Fraud Detection & Prevention
5.4. Anti-Money Laundering
5.5. Customer Relationship Management
5.6. Data Analytics & Prediction
Chapter 6: Artificial Intelligence In Bfsi Market, By Technology
6.1.1. Market Size And Forecast
6.2. Deep Learning
6.3. Querying Method
6.4. Natural Language Processing
6.5. Context Aware Processing
Chapter 7: Artificial Intelligence In Bfsi Market, By Region
7.2. North America
Chapter 8: Company Profiles
8.1. Microsoft Corporation
8.2. International Business Machines Corporation
8.3. Oracle Corporation
8.4. Sap Se
8.5. Baidu, Inc.
8.6. Salesforce.Com, Inc.
8.7 Intel Corporation
8.8. Alphabet Inc. (Google)
8.9. Palantir Technologies Inc.
8.10. Inbenta Technologies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/b7ix44