At CAGR of 38.0% Artificial Intelligence in BFSI Market is expected to reach $247,366.7 million 2026 | Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Baidu, Inc., salesforce.com

The Allied Market Research, the global Artificial Intelligence in BFSI Market study summarizes competitor analysis, business trends, and forthcoming market & technical analysis forecast. Moreover, the study exemplifies the value and major regional trends of the global Artificial Intelligence in BFSI Market in terms of market size, revenue size, and growth opportunities. All data pertaining to the Artificial Intelligence in BFSI Market are gathered from extremely trustworthy sources and carefully examined and verified by market experts.

The global artificial intelligence 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 2019-2026.

Full Report: https://www.alliedmarketresearch.com/artificial-intelligence-in-BFSI-market

Drivers, restraints & opportunities-

Increase in technological advancements, rise in preferences for personalized financial services, and remarkable business expansion across the world fuel the growth of the global AI in BFSI market. On the other hand, several security concerns and low adoption of artificial intelligence in businesses curtail down the growth to some extent. Nevertheless, demand for greater customer experience is expected to create an array of opportunities for the frontrunners in the industry.

The software segment to retain its dominance during the estimated period-

Based on offering, the software segment accounted for the major share in 2018, garnering nearly two-thirds of the global AI in BFSI market and is expected to dominate during the forecast period. This is attributed to the benefits provided by financial industries immensely to track transactions, verify data, generate reports, and extract information related to customers. At the same time, the hardware segment would cite the fastest CAGR of 39.6% by 2026. This is due to hardware allows machines to process large unparalleled amount of data for various Banking, financial services, and insurance industry in the market.

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The chatbots segment to lead the trail during the study period-

Based on solution, the chatbots segment held nearly one-third of the global AI in BFSI market revenue in 2018, and is anticipated to retain its top status during the estimated period. The same segment is also projected to register the fastest CAGR of 39.4% till 2026. This is owing to banks and other financial institutions are integrating chatbots access to quickly assist common customer service queries, enhance onboarding processes, and improve sales effectiveness.

North America to rule the roost by 2026-

Based on geography, North America contributed to nearly half of the global AI in BFSI market share in 2018, and is predicted to maintain its lion's share throughout the forecast period. The commercial banks in this region are prioritizing technological advancements, with higher investments in artificial intelligence technology aiming at improving customer services and increasing revenue in their businesses. Simultaneously, the region across Asia-Pacific would grow at the fastest CAGR of 42.7% during the period 2019-2026. The fact that banks and other financial institutions are focused on large scale investments has driven the adoption of artificial intelligence in the region.

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Key Points from the Report-

• Top players operating in the global artificial intelligence in BFSI market
• Major revenue-generating sectors with regional trends and opportunities
• Regulations and development inclinations
• Portfolios of companies, along with their financial information and investment strategies
• Venture Entrepreneurs

Key Benefits for Artificial Intelligence in BFSI Market:

The study provides an in-depth analysis of the global artificial intelligence in BFSI market share with the current trends and future estimations to elucidate the imminent investment pockets.

A comprehensive analysis of the factors that drive and restrict the global artificial intelligence in BFSI market size is provided.

A comprehensive quantitative analysis is provided from 2019 to 2026 to assist market stakeholders to capitalize on the prevailing artificial intelligence in BFSI market opportunities.

An extensive analysis of the key segments of the industry helps to understand the global artificial intelligence in BFSI market trends.

Key players and their strategies are provided to understand the competitive outlook of the artificial intelligence in BFSI market forecast.

Artificial Intelligence in BFSI Market Report Highlights

By Offering
Hardware
Software
Services

By Solution
Chatbots
Fraud Detection & Prevention
Anti-Money Laundering
Customer Relationship Management
Data Analytics & Prediction
Others

By Technology
Deep Learning
Querying Method
Natural Language Processing
Context Aware Processing

By Region
North America (U.S, CANADA, MEXICO)
Europe (GERMANY, FRANCE, UK, Rest of Europe)
Asia-Pacific (Australia, JAPAN, INDIA, CHINA, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Market Players :
Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Baidu, Inc., salesforce.com, inc., Intel Corporation, Alphabet Inc. (Google), Palantir Technologies Inc., Inbenta Technologies Inc.

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