Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Overview 2024-2033 - Share, Size, Insights, Forecast

"The Business Research Company recently released a comprehensive report on the Global Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=18230&type=smp

According to The Business Research Company's, The augmented analytics in the banking, financial services, and insurance (BFSI) market size has grown exponentially in recent years. It will grow from $2.06 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth in the historic period can be attributed to increasing regulatory requirements, growing data volumes, demand for real-time insights, adoption of digital banking, customer experience enhancement, and fraud detection improvements.

The augmented analytics in the banking, financial services, and insurance (BFSI) market size is expected to see exponential growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period can be attributed to the expansion of open banking initiatives, integration with blockchain for secure transactions, the rise of quantum computing applications, predictive analytics for economic volatility, and enhanced cybersecurity analytics. Major trends in the forecast period include increasing adoption of explainable AI for regulatory compliance, expansion of AI-driven customer insights, integration of augmented reality for virtual financial consultations, growth in AI-powered fraud detection, leveraging of natural language processing for customer service automation, and development of AI-based investment advisory services.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/augmented-analytics-in-banking-financial-services-and-insurance-bfsi-global-market-report

Market Drivers and Trends:

The increasing data volume is expected to propel the growth of augmented analytics in banking, financial services, and insurance (BFSI) market going forward. Data volume is the amount of data that is saved, processed, and managed within an information system or database. With growing digitalization, advancements in IoT, big data analytics, and cloud-based computing have led to the generation of massive volumes of real-time data from diverse sources. The volume of data allows augmented analytics to provide deeper insights and more accurate forecasts, improving risk management, consumer behavior research, and market trend assessment in BFSI. This also enables BFSI enterprises to provide more tailored services by evaluating client interactions and preferences, resulting in increased satisfaction. For instance, in December 2022, according to the SODA Foundation, a US-based open-source initiative, the annual data growth for an average end-user organization surged from 700  terabyte (TB) in 2021 to 2,208  terabyte (TB) in 2022, reflecting a threefold increase in data volume over a year. Therefore, the increasing data volume is driving the growth of augmented analytics in the banking, financial services, and insurance (BFSI) market.

Major companies operating in the augmented analytics in banking, financial services, and insurance (BFSI) market are developing advanced solutions with artificial intelligence (AI)-powered data analytics to enhance decision-making processes and improve personalized customer experiences. AI-powered data analytics entails employing AI to analyze vast amounts of data rapidly and effectively, allowing financial organizations to identify trends, detect anomalies, and anticipate outcomes with better precision. For instance, in March 2024, TransUnion, a US-based provider of total credit protection, launched OneTru. It combines diverse data and analytic assets for credit risk, marketing, and fraud prevention into a single, layered, unified ecosystem. This enables TransUnion to provide a more accurate, comprehensive, and compliant image of consumers across use cases. OneTru uses AI and machine learning to create knowledge graphs that improve identity resolution by connecting structured data like offline IDs with unstructured data like behavioral information and device attributes. This improves fraud detection while reducing false positives.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Microsoft Corporation, Dell Technologies, Accentur*e, International Business Machines Corporation, Goldman Sachs, Oracle Corporation, SAP, Salesforce.com inc., NTT DATA Inc., Fiserv Inc., Experian Information Solutions Inc., Red Hat Inc., SAS Institute Inc., Hitachi Vantara LLC, NICE Actimize, Teradata, Informatica Inc., FICO, TIBCO, Cloudera Inc., Domo Inc.

Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market 2024 Key Insights:

• The augmented analytics in the banking, financial services, and insurance (BFSI) market size is expected to see exponential growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%.
• Surge In Data Volume Fuels Growth Of The Augmented Analytics In BFSI Sector
• AI-Powered Solutions Enhance Decision-Making And Personalization In BFSI Sector
• North America was the largest region in augmented analytics in the banking, financial services, and insurance (BFSI) market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/customise?id=18230&type=smp

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

"""Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."

This release was published on openPR.