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A Deep Dive into Artificial Intelligence (AI) In Lending Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Artificial Intelligence (AI) In Lending Market
In recent times, there's been a significant growth in the marketplace for artificial intelligence (AI) in lending. The market size, valued at $9.18 billion in 2024, is projected to increase to $11.63 billion in 2025, marking a compound annual growth rate (CAGR) of 26.6%. This exceptional growth during the historical period can be associated with factors such as the rising consumer demand for digital services, cost reduction, fraud detection capabilities of AI, expansion of peer-to-peer and online lending platforms leveraging AI technology, and the growing necessity for real-time data processing.
The market size for artificial intelligence (AI) within the lending industry is anticipated to experience rapid growth in the coming years, reaching $29.58 billion by 2029 with a compound annual growth rate (CAGR) of 26.3%. This future growth is due to an increased requirement for fast and proficient lending transactions, higher competition driving lenders towards AI, expanded credit accessibility for underprivileged groups, the proliferation of AI lending platforms based on the cloud, and the escalation of mobile loaning applications integrated with AI. Key trends during this forecast period will comprise advancements in AI and machine learning methodologies, usage of big data in appraising credit risk, amalgamation with fintech, alliances between technology companies and lenders, as well as the fusion of AI and blockchain to guarantee secure lending transactions.
What Is Contributing to the Growth of the Artificial Intelligence (AI) In Lending Market?
The increasing focus on digital transformation is anticipated to drive the AI in lending market's expansion. This transformation instils digital technology into all facets of a company, drastically changing its operations and the way it delivers value to consumers. The growth of this transformation is due to its help in enhancing efficiency, improving customer experiences, and maintaining competitiveness in a rapidly evolving, digitally-prevalent market. AI in lending is a necessary aspect of this transformation as it simplifies the lending procedure, betters risk evaluation, augments customer experiences, and heightens operational efficiency through automation and data-centered insights. For example, in November 2023, a report by the UK Cabinet Office, a government office in the UK, indicated that during the 2021 Spending Review, the government committed an additional $8.68 billion (£8 billion) to digital, data, and technology transformation by 2025. Therefore, the escalating emphasis on digital transformation is fueling the AI in lending market's growth.
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Which Key Market Leaders Are Driving Artificial Intelligence (AI) In Lending Industry Growth?
Major companies operating in the artificial intelligence (AI) in lending market are Pegasystems Inc., Newgen Software Technology Limited, IBM Corporation, American Express Banking Corp., PayPal Holdings Inc., OnDeck Capital Inc., NVIDIA Corporation, Fiserv Inc., Nucleus Software Exports Limited, SoFi Technologies Inc., Enova International Inc., LendingClub Corporation, Upstart Holdings Inc., Tavant, SymphonyAI LLC, DataRobot Inc., Prosper Funding LLC, Funding Circle Ltd., OakNorth Bank Plc, AlphaSense Inc., Figure Technologies Inc., Avant LLC, Better Mortgage Corporation, Sigma Infosolutions Ltd., Zest AI, LenddoEFL, Ellie Mae Inc., Kavout Corp.
Which Key Market Leaders Are Driving Industry Growth?
Leading firms in the AI in lending market are innovating with high-tech solutions such as loan lifecycle management systems, aiming to provide superior features to their clients. Such a system offers comprehensive management and automation of every stage of a loan's lifecycle, ranging from origination and processing to servicing and repayment. For instance, Temenos, a banking software firm based in Switzerland, introduced an AI-powered corporate lending solution in January 2023. This groundbreaking solution by Temenos uniquely enables banks to merge global commercial loan portfolios and synchronize servicing on a singular platform. It simplifies the extensive loan processing and lifecycle management across a variety of lending lines and regions, targeting both large tier-one and regional banks. The solution efficiently handles various loan types, from large volume bilateral loans to detailed corporate credits, addressing the issues of disconnected systems and integration deficits, alongside advanced automation and integrated best-practice workflows in the Corporate Model Bank.
What Are the Main Segments in the Artificial Intelligence (AI) In Lending Market?
The artificial intelligence (AI) in lending market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Mode: Cloud-Based, On-Premises
3) By Technology: Machine Learning And Predictive Analytics, Natural Language Processing (NLP), Robotic Process Automation (RPA), Other Technologies
4) By End-User: Banks And Financial Institutions, Credit Unions, Peer-To-Peer (P2P) Lending Platforms, Other Lenders
Subsegments:
1) By Software: AI-Driven Loan Origination Software, Credit Scoring And Risk Assessment Tools, Fraud Detection And Prevention Software, Automated Underwriting Systems, Customer Relationship Management (CRM) Software, AI-Based Portfolio Management Tools, Chatbots And Virtual Assistants For Customer Service
2) By Services: AI Consulting And Strategy Development, AI System Integration And Implementation Services, AI Maintenance And Support Services, Data Analytics And Reporting Services, Training And Education Services For AI Tools, Managed AI Services For Lending Operations, Compliance And Regulatory Advisory Services
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Which Geographic Area Leads the Artificial Intelligence (AI) In Lending Market?
North America was the largest region in the AI in lending market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Artificial Intelligence (AI) In Lending Global Market Report?
- Market Size Analysis: Analyze the artificial intelligence (ai) in lending Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the artificial intelligence (ai) in lending market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall artificial intelligence (ai) in lending market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the artificial intelligence (ai) in lending market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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