AI in Fintech Market Will Reach USD 12.3 Billion by 2025. The reports forecast the AI in fintech market by application, component, deployment and region. It highlights COVID-19 impact on the AI-in-fintech-industry.

Description

Global AI in Fintech Market: by Component (Solutions and Services), by Deployment (Cloud-based and On-Premises), by Application (Virtual Assistant, Business Analytics, Customer Behavioural Analytics, and Others) and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

The AI in fintech market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the AI in fintech industry aspects.

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AI in Fintech Market Introduction

The AI in fintech market size was valued at USD 5.1 billion in 2019, which is expected to reach USD 12.3 billion by 2025, registering a CAGR of 21.4% during the forecast period (2020-2025). AI has considerably revolutionized the finance industry, by improving the precision level, customer engagement level, and fasten the query resolution period. Financial firms are adopting AI solutions for record maintaining, tracking, and store transactions in order to reduce the calculative risk while keep the proper flow across the process.

 Factors Affecting the AI in Fintech Industry Over the Forecast Period

• Evaluating the investment opportunities, optimize investment portfolios, and mitigate the associated risks are some important factors that rise the demand for AI in fintech solutions, which in turn, is driving the market growth across the globe.
• Increasing demand for process automation in financial institutions is significantly driving the growth of the AI in fintech market across the globe.
• The increasing availability of data sources for the proper implementation of AI in financial solutions is rising the growth of the AI in the fintech market.
• However, the lack of awareness and the skilled workforce for the deployment of AI in fintech and high price point are some factors that will affect the market growth over the forecast period.

Impact of COVID-19 on AI in Fintech Market:

The outbreak of the COVID-19 pandemic has considerably impacted the growth of AI in the fintech market. The financial institutions have faced a huge loss during the COVID-19 pandemic, owing to which, the deployment of advanced technologies, such as AI will be on hold for a certain period. Therefore, a COVID-19 pandemic will decline the AI in the fintech market in 2020 and over the forecast period.

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Scope of the Report

The report outlines the global AI in fintech market study based on component, deployment, and application.

Based on component, the AI in fintech market is segmented into-

• Solutions
• Services

Based on deployment, the AI in fintech market is segmented into-

• Cloud-based
• On-Premises

Based on application, the AI in fintech market is segmented into-

• Virtual Assistant
• Business Analytics
• Customer Behavioral Analytics
• Others (Market Research, Advertising, and Marketing Campaign)

AI in Fintech Market: Regional Outlook

Geographically, the global AI in fintech market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2019, North America held the largest share in the global AI in fintech market, followed by Asia-Pacific and Europe. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period.

Key Global AI in Fintech Market Competitors Includes –

The global AI in fintech market is highly fragmented, with the presence of a large number players across the globe. The key players in AI in fintech manufacturers operating in the global market are –

• Amazon Web Services, Inc.
• ComplyAdvantage 
• Google LLC
• IBM Corporation
• Inbenta Technologies
• Intel Corporation
• IPsoft Inc.
• Microsoft Corporation
• Nuance Communications, Inc.
• com, Inc.

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