Global Artificial Intelligence in the BFSI market bolstering the market growth due to an emerging need for digital banking and growing data
The global artificial intelligence in the BFSI market has the potential to grow with USD 200.52 billion with bolstering CAGR in the forecast period from 2020-2027. The emerging data, increasing penetration of the internet, adoption of digital banking methods, increasing demand for artificial intelligence boost the market growth.
Artificial intelligence in BFSI helps in smoothen the function and daily operations of the bank that helps in improving the customer experience and enhance the business strategy. Artificial intelligence uses different technology to explain the product descriptions, enhances the user interface, and interacts with the customer by smart assistants.
Additionally, it will help in reducing the cost, saves time, and helps in managing the data of every customer effectively and safely. Artificial intelligence is also very essential for the analysis of business growth, maintaining revenue, and growth strategies of the bank.
Furthermore, the primary purpose of artificial intelligence in the banking sector is to improve the customer support management, reduces fraud, provide effective solutions for proactive business growth strategies. Thus, it helps in fueling the market demand for global artificial intelligence in the BFSI market.
Offering overview in the Global Artificial Intelligence in BFSI Market
Based on the offerings, global artificial intelligence in the BFSI market classified into Hardware, Software, and Services. The software segment accounted for the largest share in the global artificial intelligence in the BFSI market. Software used for maintaining the banking industry is helping in improving the security and safety of the customer data and support KYC verifications. It also helps in keeping track of all the transactions, reports, and every real-time information related to the purchase as well.
Solutions overview in the Global Artificial Intelligence in BFSI Market
Based on the solutions, the global artificial intelligence in the BFSI market segmented into Chatbots, Fraud Detection & Prevention, Anti-Money Laundering, Customer Relationship Management, Data Analytics & Prediction, and Others. The chatbots segment has the largest market share in the worldwide artificial intelligence in the BFSI market. The emerging changing banking service dynamics owing to internet penetration has emerged the need for the adoption of chatbots. Chatbots helps in assisting customers' problems in real-time and improves the onboarding process and increases revenue as well.
Technology overview in the Global Artificial Intelligence in BFSI Market
Based on the technology, the global artificial intelligence in the BFSI market categorized into Deep Learning, Querying Method, Natural Language Processing, and Context-Aware Processing. The natural language processing segment accounts for the largest share in the global artificial intelligence in the BFSI market. The natural language processing understands human speech and assists them in solving their queries in digital banking.
Region Overview in the Global Artificial Intelligence in BFSI Market
Based on geography, the global artificial intelligence in the BFSI market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America has the most extensive artificial intelligence in the BFSI market share and expected to maintain its dominant position during the forecast period. It is mainly owing to the emerging adoption of artificial intelligence in the various industry that has enhanced the functioning and improve the scalability of the banking systems. Thus, artificial intelligence in the BFSI is propelling the market demand in North America.
Global Artificial Intelligence in BFSI Market: Competitive Landscape
Companies such as Intel, NVIDIA, Samsung Electronics, Xilinx, Micron Technology, IBM, Microsoft, Google Inc, Amazon Web Services, Facebook, Baidu, Oracle, Salesforce, SAS, SAP SE, General Electric, Cisco, Rockwell Automation, Siemens, Graphcore and other key players in the global artificial intelligence in BFSI market.
Global Artificial Intelligence in BFSI Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Competitors & Product Analysis 4.3. Regulatory Framework 4.4. Company market share analysis, 2019 4.5. Porter's Five forces analysis 4.6. New Investment Analysis 4.7. PESTEL Analysis 5. Global Artificial Intelligence in BFSI Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. Demand 5.1.1.1. By Value (USD Million) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By Offering 5.2.1.1. Hardware 5.2.1.2. Software 5.2.1.3. Services 5.2.2. By Solutions 5.2.2.1. Chatbots 5.2.2.2. Fraud Detection & Prevention 5.2.2.3. Anti-Money Laundering 5.2.2.4. Customer Relationship Management 5.2.2.5. Data Analytics & Prediction 5.2.2.6. Others 5.2.3. By Technology 5.2.3.1. Deep Learning 5.2.3.2. Querying Method 5.2.3.3. Natural Language Processing 5.2.3.4. Context Aware Processing 5.2.4. By Region 5.2.4.1. Europe 5.2.4.2. North America 5.2.4.3. Asia Pacific 5.2.4.4. South America 5.2.4.5. Middle East & Africa 6. Europe Artificial Intelligence in BFSI Market Overview 6.1. Europe Artificial Intelligence in BFSI Market Size & Forecast, 2016-2027 6.1.1. Demand 6.1.1.1. By Value (USD Million) 6.2. Europe Artificial Intelligence in BFSI Market Share & Forecast, 2016-2027 6.2.1. By Offering 6.2.1.1. Hardware 6.2.1.2. Software 6.2.1.3. Services 6.2.2. By Solutions 6.2.2.1. Chatbots 6.2.2.2. Fraud Detection & Prevention 6.2.2.3. Anti-Money Laundering 6.2.2.4. Customer Relationship Management 6.2.2.5. Data Analytics & Prediction 6.2.2.6. Others 6.2.3. By Technology 6.2.3.1. Deep Learning 6.2.3.2. Querying Method 6.2.3.3. Natural Language Processing 6.2.3.4. Context Aware Processing 6.2.4. By Country 6.2.4.1. Germany 6.2.4.2. UK 6.2.4.3. France 6.2.4.4. Italy 6.2.4.5. Rest of Europe 6.2.5. Company Market Share (Top 3-5) 6.2.6. Economic Impact Study on Europe Artificial Intelligence in BFSI Market 7. North America Artificial Intelligence in BFSI Market Overview 7.1. North America Artificial Intelligence in BFSI Market Size & Forecast, 2016-2027 7.1.1. Demand 7.1.1.1. By Value (USD Million) 7.2. North America Artificial Intelligence in BFSI Market Share & Forecast, 2016-2027 7.2.1. By Offering 7.2.1.1. Hardware 7.2.1.2. Software 7.2.1.3. Services 7.2.2. By Solutions 7.2.2.1. Chatbots 7.2.2.2. Fraud Detection & Prevention 7.2.2.3. Anti-Money Laundering 7.2.2.4. Customer Relationship Management 7.2.2.5. Data Analytics & Prediction 7.2.2.6. Others 7.2.3. By Technology 7.2.3.1. Deep Learning 7.2.3.2. Querying Method 7.2.3.3. Natural Language Processing 7.2.3.4. Context Aware Processing 7.2.4. By Country 7.2.4.1. US 7.2.4.2. Canada 7.2.4.3. Mexico 7.2.5. Company Market Share (Top 3-5) 7.2.6. Economic Impact Study on North America Artificial Intelligence in BFSI Market 8. Asia Pacific Artificial Intelligence in BFSI Market Overview 8.1. Asia Pacific Artificial Intelligence in BFSI Market Size & Forecast, 2016-2027 8.1.1. Demand 8.1.1.1. By Value (USD Million) 8.2. Asia Pacific Artificial Intelligence in BFSI Market Share & Forecast, 2016-2027 8.2.1. By Offering 8.2.1.1. Hardware 8.2.1.2. Software 8.2.1.3. Services 8.2.2. By Solutions 8.2.2.1. Chatbots 8.2.2.2. Fraud Detection & Prevention 8.2.2.3. Anti-Money Laundering 8.2.2.4. Customer Relationship Management 8.2.2.5. Data Analytics & Prediction 8.2.2.6. Others 8.2.3. By Technology 8.2.3.1. Deep Learning 8.2.3.2. Querying Method 8.2.3.3. Natural Language Processing 8.2.3.4. Context Aware Processing 8.2.4. By Country 8.2.4.1. China 8.2.4.2. India 8.2.4.3. Japan 8.2.4.4. Australia 8.2.4.5. Rest of Asia Pacific 8.2.5. Company Market Share (Top 3-5) 8.2.6. Economic Impact Study on Asia Pacific Artificial Intelligence in BFSI Market 9. South America Artificial Intelligence in BFSI Market Overview 9.1. South America Artificial Intelligence in BFSI Market Size & Forecast, 2016-2027 9.1.1. Demand 9.1.1.1. By Value (USD Million) 9.2. South America Artificial Intelligence in BFSI Market Share & Forecast, 2016-2027 9.2.1. By Offering 9.2.1.1. Hardware 9.2.1.2. Software 9.2.1.3. Services 9.2.2. By Solutions 9.2.2.1. Chatbots 9.2.2.2. Fraud Detection & Prevention 9.2.2.3. Anti-Money Laundering 9.2.2.4. Customer Relationship Management 9.2.2.5. Data Analytics & Prediction 9.2.2.6. Others 9.2.3. By Technology 9.2.3.1. Deep Learning 9.2.3.2. Querying Method 9.2.3.3. Natural Language Processing 9.2.3.4. Context Aware Processing 9.2.4. By Country 9.2.4.1. Brazil 9.2.4.2. Argentina 9.2.4.3. Rest of South America 9.2.5. Company Market Share (Top 3-5) 9.2.6. Economic Impact Study on South America Artificial Intelligence in BFSI Market 10. Middle East & Africa Artificial Intelligence in BFSI Market Overview 10.1. Middle East & Africa Artificial Intelligence in BFSI Market Size & Forecast, 2016-2027 10.1.1. Demand 10.1.1.1. By Value (USD Million) 10.2. Middle East & Africa Artificial Intelligence in BFSI Market Share & Forecast, 2016-2027 10.2.1. By Offering 10.2.1.1. Hardware 10.2.1.2. Software 10.2.1.3. Services 10.2.2. By Solutions 10.2.2.1. Chatbots 10.2.2.2. Fraud Detection & Prevention 10.2.2.3. Anti-Money Laundering 10.2.2.4. Customer Relationship Management 10.2.2.5. Data Analytics & Prediction 10.2.2.6. Others 10.2.3. By Technology 10.2.3.1. Deep Learning 10.2.3.2. Querying Method 10.2.3.3. Natural Language Processing 10.2.3.4. Context Aware Processing 10.2.4. By Country 10.2.4.1. Saudi Arabia 10.2.4.2. UAE 10.2.4.3. South Africa 10.2.4.4. Rest of Middle East & Africa 10.2.5. Company Market Share (Top 3-5) 10.2.6. Economic Impact Study on Middle East & Africa Artificial Intelligence in BFSI Market 11. Competitor Analysis 11.1. Company Description 11.2. Financial Analysis 11.3. Key Products 11.4. Key Management Personnel 11.5. Contact Address 11.6. SWOT Analysis 11.7. Company Profile 11.7.1.1. Intel 11.7.1.2. NVIDIA 11.7.1.3. Samsung Electronics 11.7.1.4. Xilinx 11.7.1.5. Micron Technology 11.7.1.6. IBM 11.7.1.7. Microsoft 11.7.1.8. Google Inc 11.7.1.9. Amazon Web Services 11.7.1.10. Facebook 11.7.1.11. Baidu 11.7.1.12. Oracle 11.7.1.13. Salesforce 11.7.1.14. SAS 11.7.1.15. SAP SE 11.7.1.16. General Electric 11.7.1.17. Cisco 11.7.1.18. Rockwell Automation 11.7.1.19. Siemens 11.7.1.20. Graphcore 11.7.1.21. Other players
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