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Market Research Report
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1042671

AI in Fintech Market Research Report: By Component (Solutions, Services), Deployment (Cloud, On-Premises), Application (Credit Scoring, Fraud Detection, Chatbots, Quantitative and Asset Management) - Global Industry Analysis and Growth Forecast to 2030

Published: | Prescient & Strategic Intelligence Private Limited | 317 Pages | Delivery time: 2-3 business days

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AI in Fintech Market Research Report: By Component (Solutions, Services), Deployment (Cloud, On-Premises), Application (Credit Scoring, Fraud Detection, Chatbots, Quantitative and Asset Management) - Global Industry Analysis and Growth Forecast to 2030
Published: November 1, 2021
Prescient & Strategic Intelligence Private Limited
Content info: 317 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents

The global AI in fintech market size is projected to increase to $46,881.9 million by 2030 from $7,702.7 million in 2020, at a 19.8% CAGR between 2020 and 2030. With AI, the efficiency of financial processes and the security of money-related data can be improved massively. For instance, in regard to fraud detection, AI monitors people's online transactional behavior so that any deviation and a potential fraud can be identified in real time and stopped right there.

Moreover, AI helps in automating several processes in the banking, financial services, and insurance (BFSI) sector, such as online customer engagement via chatbots, claims processing, and answering frequently asked questions (FAQs). This not only allows BFSI companies to reduce their expenditure in hiring humans for these tasks but also engage these employees in more-important tasks, such as decision making and strategizing.

AI solutions have been in a higher demand than managed and professional services because the former conduct question and answer (Q&A) processing, natural language processing (NLP) and generation, facial recognition, video and image analysis, and speech recognition.

Cloud deployment has brought in more revenue for AI in fintech market players because when deployed on the cloud, AI understands the historical data and learns from it, offers suggestions, and analyzes the current trends.

AI solutions find the widest application in the fintech sector for quantitative and asset management, where they allow analysts to extract high volumes of data with ease.

Mobile payments are the key trend in the market as their increasing volume is encouraging online payment platforms to equip themselves with AI for better management, higher efficiency, and reduced fraud.

The BFSI sector of North America, led by that of the U.S., is the largest user of AI solutions. This is ascribed to the presence of some of the largest IT and financial corporations, developed IT infrastructure, and rising penetration of advanced technologies.

After the initial hiccups during the COVID-19 pandemic, the BFSI sector has again started adopting AI solutions, primarily to manage and secure the rising volume of online transactions.

In the years to come, the AI in fintech market will witness the fastest growth in Asia-Pacific (APAC) on account of the economic prosperity and increasing investments in its IT sector. Moreover, the rapid digitization of the regional BFSI industry, apparent in the surging volume of online transactions, is driving the adoption of AI. Further, as part of their growth strategy, solution providers are targeting the untapped BFSI sector of APAC.

Amazon Web Services Inc., Microsoft Corporation, Intel Corporation, Oracle Corporation, Alphabet Inc., IBM Corporation, HCL Technologies Limited, SAS Institute Inc., Salesforce.com, Cognizant Technology Solutions Corporation, IPsoft Incorporated, and Capgemini SE are the major AI in fintech market players. Due to the presence of these and many more companies, the market is competitive and characterized by the high number of partnerships and collaborations.

Product Code: IM12263

Table of Contents

Chapter 1. Research Background

  • 1.1 Research Objectives
  • 1.2 Market Definition
  • 1.3 Analysis Period
  • 1.4 Market Data Reporting Unit
    • 1.4.1 Value
  • 1.5 Market Size Breakdown by Segment
    • 1.5.1 Market Segmentation by Component
    • 1.5.2 Market Segmentation by Deployment
    • 1.5.3 Market Segmentation by Application
    • 1.5.4 Market Segmentation by Region
    • 1.5.5 Market Segment Analysis of Countries
  • 1.6 Key Stakeholders

Chapter 2. Research Methodology

  • 2.1 Secondary Research
    • 2.1.1 Paid
    • 2.1.2 Unpaid
    • 2.1.3 P&S Intelligence Database
  • 2.2 Primary Research
    • 2.2.1 Breakdown of Primary Research, by Region
    • 2.2.2 Breakdown of Primary Research, by Industry Participant
    • 2.2.3 Breakdown of Primary Research, by Designation
    • 2.2.4 Breakdown of Primary Research, by Company Type
  • 2.3 Market Size Estimation
  • 2.4 Data Triangulation
  • 2.5 Currency Conversion Rates
  • 2.6 Assumptions for the Study
  • 2.7 Notes & Caveats

Chapter 3. Executive Summary

Chapter 4. Voice of Industry Experts/KOLs

Chapter 5. Market Indicators

  • 5.1 Internet Penetration
  • 5.2 Adoption of AI in Major Markets

Chapter 6. Definition of Market Segments

  • 6.1 By Component
    • 6.1.1 Solutions
      • 6.1.1.1 Software tools
      • 6.1.1.2 Platforms
    • 6.1.2 Services
      • 6.1.2.1 Managed
      • 6.1.2.2 Professional
  • 6.2 By Deployment
    • 6.2.1 Cloud
    • 6.2.2 On-Premises
  • 6.3 By Application
    • 6.3.1 Credit Scoring
    • 6.3.2 Fraud Detection
    • 6.3.3 Chatbots
    • 6.3.4 Quantitative and Asset Management
    • 6.3.5 Others

Chapter 7. Industry Outlook

  • 7.1 Market Dynamics
    • 7.1.1 Trends
      • 7.1.1.1 Hyper-personalization via big data and AI
      • 7.1.1.2 Mobile payment innovations
    • 7.1.2 Drivers
      • 7.1.2.1 Companies focusing on cost-cutting and efficiency improvements
      • 7.1.2.2 Increasing demand for process automation among financial organizations
      • 7.1.2.3 New technological advancements
    • 7.1.3 Impact Analysis of Drivers on Market Forecast
    • 7.1.4 Restraints
      • 7.1.4.1 Lack of qualified AI professionals
      • 7.1.4.2 High cost of AI-based solutions
    • 7.1.5 Impact Analysis of Restraints on Market Forecast
  • 7.2 Impact of COVID-19
  • 7.3 Value Chain Analysis
  • 7.4 Porter's Five Forces Analysis
    • 7.4.1 Bargaining Power of Buyers
    • 7.4.2 Bargaining Power of Suppliers
    • 7.4.3 Intensity of Rivalry
    • 7.4.4 Threat of New Entrants
    • 7.4.5 Threat of Substitutes

Chapter 8. Global Market Size and Forecast

  • 8.1 Overview
  • 8.2 By Component (2015-2030)
    • 8.2.1 Solutions Market, by Type (2015-2030)
    • 8.2.2 Services Market, by Type (2015-2030)
  • 8.3 By Deployment (2015-2030)
  • 8.4 By Application (2015-2030)
  • 8.5 By Region (2015-2030)

Chapter 9. North America Market Size and Forecast

  • 9.1 Overview
  • 9.2 By Component (2015-2030)
    • 9.2.1 Solutions Market, by Type (2015-2030)
    • 9.2.2 Services Market, by Type (2015-2030)
  • 9.3 By Deployment (2015-2030)
  • 9.4 By Application (2015-2030)
  • 9.5 By Country (2015-2030)

Chapter 10. Europe Market Size and Forecast

  • 10.1 Overview
  • 10.2 By Component (2015-2030)
    • 10.2.1 Solutions Market, by Type (2015-2030)
    • 10.2.2 Services Market, by Type (2015-2030)
  • 10.3 By Deployment (2015-2030)
  • 10.4 By Application (2015-2030)
  • 10.5 By Country (2015-2030)

Chapter 11. APAC Market Size and Forecast

  • 11.1 Overview
  • 11.2 By Component (2015-2030)
    • 11.2.1 Solutions Market, by Type (2015-2030)
    • 11.2.2 Services Market, by Type (2015-2030)
  • 11.3 By Deployment (2015-2030)
  • 11.4 By Application (2015-2030)
  • 11.5 By Country (2015-2030)

Chapter 12. LATAM Market Size and Forecast

  • 12.1 Overview
  • 12.2 By Component (2015-2030)
    • 12.2.1 Solutions Market, by Type (2015-2030)
    • 12.2.2 Services Market, by Type (2015-2030)
  • 12.3 By Deployment (2015-2030)
  • 12.4 By Application (2015-2030)
  • 12.5 By Country (2015-2030)

Chapter 13. MEA Market Size and Forecast

  • 13.1 Overview
  • 13.2 By Component (2015-2030)
    • 13.2.1 Solutions Market, by Type (2015-2030)
    • 13.2.2 Services Market, by Type (2015-2030)
  • 13.3 By Deployment (2015-2030)
  • 13.4 By Application (2015-2030)
  • 13.5 By Country (2015-2030)

Chapter 14. U.S. Market Size and Forecast

  • 14.1 By Component (2015-2030)
    • 14.1.1 Solutions Market, by Type (2015-2030)
    • 14.1.2 Services Market, by Type (2015-2030)
  • 14.2 By Deployment (2015-2030)
  • 14.3 By Application (2015-2030)

Chapter 15. Canada Market Size and Forecast

  • 15.1 By Component (2015-2030)
    • 15.1.1 Solutions Market, by Type (2015-2030)
    • 15.1.2 Services Market, by Type (2015-2030)
  • 15.2 By Deployment (2015-2030)
  • 15.3 By Application (2015-2030)

Chapter 16. U.K. Market Size and Forecast

  • 16.1 By Component (2015-2030)
    • 16.1.1 Solutions Market, by Type (2015-2030)
    • 16.1.2 Services Market, by Type (2015-2030)
  • 16.2 By Deployment (2015-2030)
  • 16.3 By Application (2015-2030)

Chapter 17. Germany Market Size and Forecast

  • 17.1 By Component (2015-2030)
    • 17.1.1 Solutions Market, by Type (2015-2030)
    • 17.1.2 Services Market, by Type (2015-2030)
  • 17.2 By Deployment (2015-2030)
  • 17.3 By Application (2015-2030)

Chapter 18. France Market Size and Forecast

  • 18.1 By Component (2015-2030)
    • 18.1.1 Solutions Market, by Type (2015-2030)
    • 18.1.2 Services Market, by Type (2015-2030)
  • 18.2 By Deployment (2015-2030)
  • 18.3 By Application (2015-2030)

Chapter 19. Italy Market Size and Forecast

  • 19.1 By Component (2015-2030)
    • 19.1.1 Solutions Market, by Type (2015-2030)
    • 19.1.2 Services Market, by Type (2015-2030)
  • 19.2 By Deployment (2015-2030)
  • 19.3 By Application (2015-2030)

Chapter 20. Spain Market Size and Forecast

  • 20.1 By Component (2015-2030)
    • 20.1.1 Solutions Market, by Type (2015-2030)
    • 20.1.2 Services Market, by Type (2015-2030)
  • 20.2 By Deployment (2015-2030)
  • 20.3 By Application (2015-2030)

Chapter 21. China Market Size and Forecast

  • 21.1 By Component (2015-2030)
    • 21.1.1 Solutions Market, by Type (2015-2030)
    • 21.1.2 Services Market, by Type (2015-2030)
  • 21.2 By Deployment (2015-2030)
  • 21.3 By Application (2015-2030)

Chapter 22. India Market Size and Forecast

  • 22.1 By Component (2015-2030)
    • 22.1.1 Solutions Market, by Type (2015-2030)
    • 22.1.2 Services Market, by Type (2015-2030)
  • 22.2 By Deployment (2015-2030)
  • 22.3 By Application (2015-2030)

Chapter 23. Japan Market Size and Forecast

  • 23.1 By Component (2015-2030)
    • 23.1.1 Solutions Market, by Type (2015-2030)
    • 23.1.2 Services Market, by Type (2015-2030)
  • 23.2 By Deployment (2015-2030)
  • 23.3 By Application (2015-2030)

Chapter 24. South Korea Market Size and Forecast

  • 24.1 By Component (2015-2030)
    • 24.1.1 Solutions Market, by Type (2015-2030)
    • 24.1.2 Services Market, by Type (2015-2030)
  • 24.2 By Deployment (2015-2030)
  • 24.3 By Application (2015-2030)

Chapter 25. Australia Market Size and Forecast

  • 25.1 By Component (2015-2030)
    • 25.1.1 Solutions Market, by Type (2015-2030)
    • 25.1.2 Services Market, by Type (2015-2030)
  • 25.2 By Deployment (2015-2030)
  • 25.3 By Application (2015-2030)

Chapter 26. Brazil Market Size and Forecast

  • 26.1 By Component (2015-2030)
    • 26.1.1 Solutions Market, by Type (2015-2030)
    • 26.1.2 Services Market, by Type (2015-2030)
  • 26.2 By Deployment (2015-2030)
  • 26.3 Market Revenue, by Application (2015-2030)

Chapter 27. Mexico Market Size and Forecast

  • 27.1 By Component (2015-2030)
    • 27.1.1 Solutions Market, by Type (2015-2030)
    • 27.1.2 Services Market, by Type (2015-2030)
  • 27.2 By Deployment (2015-2030)
  • 27.3 By Application (2015-2030)

Chapter 28. Israel Market Size and Forecast

  • 28.1 By Component (2015-2030)
    • 28.1.1 Solutions Market, by Type (2015-2030)
    • 28.1.2 Services Market, by Type (2015-2030)
  • 28.2 By Deployment (2015-2030)
  • 28.3 By Application (2015-2030)

Chapter 29. U.A.E. Market Size and Forecast

  • 29.1 By Component (2015-2030)
    • 29.1.1 Solutions market, by Type (2015-2030)
    • 29.1.2 Services Market, by Type (2015-2030)
  • 29.2 By Deployment (2015-2030)
  • 29.3 By Application (2015-2030)

Chapter 30. South Africa Market Size and Forecast

  • 30.1 By Component (2015-2030)
    • 30.1.1 Solutions Market, by Type (2015-2030)
    • 30.1.2 Services Market, by Type (2015-2030)
  • 30.2 By Deployment (2015-2030)
  • 30.3 By Application (2015-2030)

Chapter 31. Competitive Landscape

  • 31.1 List of Market Players and Their Offerings
  • 31.2 Market Share Analysis of Key Players
  • 31.3 Competitive Analysis of Key Players
  • 31.4 Recent Strategic Developments of Player/Key Players
    • 31.4.1 Product Launches and Approvals
    • 31.4.2 Partnerships
    • 31.4.3 Mergers and Acquisitions
    • 31.4.4 Other Developments

Chapter 32. Company Profiles

  • 32.1 Amazon.com Inc.
    • 32.1.1 Business Overview
    • 32.1.2 Product and Service Offerings
    • 32.1.3 Key Financial Summary
  • 32.2 Oracle Corporation
    • 32.2.1 Business Overview
    • 32.2.2 Product and Service Offerings
    • 32.2.3 Key Financial Summary
  • 32.3 Intel Corporation
    • 32.3.1 Business Overview
    • 32.3.2 Product and Service Offerings
    • 32.3.3 Key Financial Summary
  • 32.4 Alphabet Inc.
    • 32.4.1 Business Overview
    • 32.4.2 Product and Service Offerings
    • 32.4.3 Key Financial Summary
  • 32.5 Microsoft Corporation
    • 32.5.1 Business Overview
    • 32.5.2 Product and Service Offerings
    • 32.5.3 Key Financial Summary
  • 32.6 International Business Machines (IBM) Corporation
    • 32.6.1 Business Overview
    • 32.6.2 Product and Service Offerings
    • 32.6.3 Key Financial Summary
  • 32.7 SAS Institute Inc.
    • 32.7.1 Business Overview
    • 32.7.2 Product and Service Offerings
    • 32.7.3 Key Financial Summary
  • 32.8 IPsoft Incorporated
    • 32.8.1 Business Overview
    • 32.8.2 Product and Service Type
  • 32.9 Genesys Telecommunications Laboratories Inc.
    • 32.9.1 Business Overview
    • 32.9.2 Product and Service Offerings
  • 32.10 HCL Technologies Limited
    • 32.10.1 Business Overview
    • 32.10.2 Product and Service Offerings
    • 32.10.3 Key Financial Summary

Chapter 33. Appendix

  • 33.1 Abbreviations
  • 33.2 Sources and References
  • 33.3 Related Reports