2025-2034 Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Roadmap: Insights for Competitive Advantage

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How Large Will the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Size By 2025?
The market size of augmented analytics within the banking, financial services, and insurance (BFSI) sector has seen a drastic surge recently. The market, valued at $2.61 billion in 2024, is projected to escalate to $3.32 billion in 2025, reflecting a compound annual growth rate (CAGR) of 27.0%. Factors such as heightened regulatory demands, the expansion of data volumes, the requirement for instant insights, the embracing of digital banking, betterment of customer experience, and improved fraud detection processes can be credited for the growth seen in the past years.

How Big Is the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Size Expected to Grow by 2029?
Projected exponential growth in the coming years is expected to boost the market size of augmented analytics in the banking, financial services and insurance (BFSI) sector to $8.52 billion by 2029, at a compound annual growth rate (CAGR) of 26.6%. This growth through the forecast period could be due to factors such as the rise of open banking initiatives, integration of blockchain for secure transactions, quantum computing applications, predictive analytics for economic turbulence, and stronger cybersecurity analytics. Key trends within the forecast period will likely include more wide-spread use of explainable AI for regulatory adherence, broader AI-driven customer insights, the incorporation of augmented reality for virtual financial consultations, a surge in AI-facilitated fraud detection, the application of natural language processing for automating customer service, and the emergence of AI-led investment advisory services.

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Which Key Market Drivers Powering Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market Expansion and Growth?
A surge in data volume is anticipated to foster the growth of augmented analytics within the banking, financial services, and insurance (BFSI) market. Data volume constitutes the quantity of data stored, processed, and managed within a data system or database. The proliferation of digitalization coupled with advancements in Internet of Things (IoT), big data analytics, and cloud-based computing contributes to generating substantial volumes of real-time data from a myriad of sources. This data volume equips augmented analytics to supply enhanced insights and precise predictions, thereby improving risk management, consumer behavior studies, and BFSI market trend analysis. Additionally, it allows BFSI firms to deliver customized services by assessing client interactions and preferences, thereby boosting satisfaction levels. For instance, according to the SODA Foundation, a U.S.-base open-source initiative, the annual data growth for a typical, end-user organization rose from 700 terabytes (TB) in 2021 to 2,208 TB in 2022, showcasing a threefold increase in data volume in one year. Consequently, the escalation in data volume is bolstering the development of augmented analytics in the BFSI market.

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Which Fast-Growing Trends Are Poised to Disrupt the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market?
Major players in the augmented analytics field for banking, financial services, and insurance (BFSI) are focusing on developing advanced, AI-powered data analysis solutions. These solutions are intended to refine decision-making protocols and boost personalized experiences for customers. AI-infused data analytics exploit artificial intelligence for the rapid, effective analysis of copious amounts of data. This enables financial entities to spot trends, pinpoint anomalies, and forecast results more accurately. For example, TransUnion, an American company specializing in total credit protection, unveiled OneTru in March 2024. OneTru integrates a variety of data and analytical tools for credit risk, marketing, and fraud prevention into a singular, layered, consolidated ecosystem. This allows TransUnion to deliver a more precise, all-encompassing, and compliant overview of consumers across all use cases. Using AI and machine learning, OneTru structures knowledge graphs that bolster identity resolution by bridging the gap between structured data such as offline IDs and unstructured data like behavioral info and device attributes, thus enhancing fraud detection efficacy and minimizing false positives.

What Are the Emerging Segments in the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market?
The augmented analytics in banking, financial services and insurance (BFSI) market covered in this report is segmented -

1) By Type: Solution, Service
2) By Deployment Model: On-Premises, Cloud-Based
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Risk Management, Fraud Detection and Prevention, Customer Analytics, Compliance Management, Performance Management, Other Applications

Subsegments:
1) By Solution: Advanced Analytics Solutions, Data Visualization Tools, Artificial Intelligence (AI) And Machine Learning (ML) Solutions, Natural Language Processing (NLP) Solutions, Cloud-Based Analytics Platforms
2) By Service: Consulting Services, Integration And Deployment Services, Support And Maintenance Services

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Who Are the Global Leaders in the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market?
Major companies operating in the augmented analytics in banking, financial services and insurance (BFSI) market are 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.

Which are the Top Profitable Regional Markets for the Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Industry?
North America was the largest region in augmented analytics in the banking, financial services, and insurance (BFSI) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics in banking, financial services and insurance (BFSI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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