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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