Exhaustive Study on Artificial Intelligence (AI) in BFSI market 2020 | Strategic Assessment by Top Players IBM, Oracle, Microsoft Corporation, SAP| Forecast to 2026 | CAGR 38.0%

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.

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Growth Factors

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.

Restrains

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.

Some major parameters were considered to forecast the current estimates of the Market:

• Market driving trends
• Predicted opportunities
• Challenges and restraints to be faced
• Technological developments in artificial intelligence in BFSI market
• Other developments, e.g. Infrastructural
• Consumer preferences
• Government regulations
• Consumer spending dynamics and trends

Market Overview:

The report includes detailed information about market drivers, restraints, challenges, threats, and potential growth opportunities of artificial intelligence in BFSI market. The report consists of precise qualitative information such as Porter’s five forces, PESTLE Analysis, and value chain analysis.

Competitive Landscape:

Geographically, global artificial intelligence in BFSI market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer. The competitive analysis of leading market players is another notable feature of the artificial intelligence in BFSI market report; it identifies direct or indirect competitors in the market. The report offers company profile of market players alongside product picture and it’s specifications, artificial intelligence in BFSI market plans, and technology adopted by them, future development plans. In addition, strength and weaknesses analysis of Artificial Intelligence in BFSI Market competitive firms gives competitive advantages so that the efficiency and the productivity of companies are improved.

Major Players
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

Market Segmentation:

The global artificial intelligence (AI) in BFSI market is segmented on the basis of offerings, solution, technology, and region.

On the basis of offerings, it is segmented into hardware, software, and services.

By service providers, it is segmented into chatbots, fraud detection & prevention, anti-money laundering, customer relationship management, data analytics & prediction, and others.

By technology, it is classified into deep learning, querying method, natural language processing, and context aware processing.

Geographical Analysis:

Artificial Intelligence in BFSI Market Segment by Regions Consists:

• North America (U.S. and Canada)
• Europe (UK, Germany, France, Russia, Italy and Rest of Europe)
• Asia-Pacific (China, Japan, India, Korea, and Rest of Asia-Pacific)
• South America (Brazil, Argentina, Mexico, and Rest of South America)
• The Middle East and Africa (GCC Countries, Egypt, South Africa, and Rest of MEA)

Key Questions Addressed in the Report

• Who are the top 10 players operating in the Artificial Intelligence in BFSI Market?
• What are the driving factors, restraints, opportunities, and challenges in the Artificial Intelligence in BFSI Market?
• What are the current scenario and industry trends in the Artificial Intelligence in BFSI Market?
• Which industry and technology can be a potential revenue pocket for market players in the next five years?
• Who are the visionary leaders, dynamic differentiators, innovators, and emerging players and what are the key strategies adopted by them to strengthen their positions?
• What are the artificial intelligence in BFSI market opportunities and threats faced by the vendors in the artificial intelligence in BFSI market?
• What are the artificial intelligence in BFSI market challenges to market growth?

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This release was published on openPR.