PUBLISHER: The Business Research Company | PRODUCT CODE: 1849185
PUBLISHER: The Business Research Company | PRODUCT CODE: 1849185
Augmented analytics in the banking, financial services, and insurance (BFSI) sectors involves utilizing advanced analytics techniques, including artificial intelligence (AI) and machine learning (ML), to enhance data-driven decision-making processes within financial institutions. This approach enables organizations to make more informed and timely decisions, leading to improved strategic planning and operational efficiency.
The primary types of augmented analytics in BFSI are solutions and services. Solutions encompass software platforms and tools designed to automate data insights through machine learning and natural language processing. These solutions enable BFSI businesses to analyze vast amounts of data quickly and accurately, offering actionable insights that enhance decision-making. They are available in various deployment models, such as on-premises and cloud-based, catering to different organizational sizes, including large enterprises and small to medium-sized enterprises (SMEs). Applications of augmented analytics in BFSI include risk management, fraud detection and prevention, customer analytics, compliance management, and performance management, among others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a significant impact on the information technology sector, especially in hardware manufacturing, data infrastructure, and software deployment. Increased duties on imported semiconductors, circuit boards, and networking equipment have driven up production and operating costs for tech companies, cloud service providers, and data centers. Firms that depend on globally sourced components for laptops, servers, and consumer electronics are grappling with extended lead times and mounting pricing pressures. At the same time, tariffs on specialized software and retaliatory actions by key international markets have disrupted global IT supply chains and dampened foreign demand for U.S.-made technologies. In response, the sector is ramping up investments in domestic chip production, broadening its supplier network, and leveraging AI-powered automation to improve resilience and manage costs more effectively.
The augmented analytics in banking, financial services, and insurance (BFSI) market research report is one of a series of new reports from The Business Research Company that provides augmented analytics in banking, financial services, and insurance (BFSI) market statistics, including augmented analytics in banking, financial services, and insurance (BFSI) industry global market size, regional shares, competitors with augmented analytics in banking, financial services, and insurance (BFSI) market share, detailed augmented analytics in banking, financial services, and insurance (BFSI) market segments, market trends and opportunities, and any further data you may need to thrive in the augmented analytics in banking, financial services, and insurance (BFSI) industry. This augmented analytics in banking, financial services, and insurance (BFSI) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The augmented analytics in banking, financial services and insurance (bfsi) market size has grown exponentially in recent years. It will grow from $2.61 billion in 2024 to $3.29 billion in 2025 at a compound annual growth rate (CAGR) of 26.1%. 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 banking, financial services and insurance (bfsi) market size is expected to see exponential growth in the next few years. It will grow to $8.41 billion in 2029 at a compound annual growth rate (CAGR) of 26.4%. 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.
The forecast of 26.4% growth over the next five years reflects a modest reduction of 0.2% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Tariffs could hinder innovation in BFSI analytics by increasing costs for AI-enabled fraud detection modules and predictive tools sourced from European financial tech vendors. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The increasing data volume is expected to drive the growth of the augmented analytics market in the banking, financial services, and insurance (BFSI) sector. Data volume refers to the amount of data stored, processed, and managed within information systems or databases. Advances in digitalization, IoT, big data analytics, and cloud computing have led to the generation of large volumes of real-time data from diverse sources. This vast data volume enables augmented analytics to deliver deeper insights and more accurate forecasts, enhancing risk management, consumer behavior analysis, and market trend assessment in the BFSI sector. It also allows BFSI enterprises to offer more personalized services by analyzing client interactions and preferences, thereby increasing customer satisfaction. For instance, in December 2022, the SODA Foundation reported that the annual data growth for an average end-user organization increased from 700 terabytes (TB) in 2021 to 2,208 terabytes (TB) in 2022, demonstrating a threefold rise in data volume over the year. This surge in data volume is driving the expansion of augmented analytics in the BFSI market.
Leading companies in the augmented analytics market within BFSI are focusing on developing advanced AI-powered data analytics solutions to enhance decision-making processes and improve personalized customer experiences. AI-powered data analytics involves using artificial intelligence to quickly and efficiently analyze large datasets, enabling financial organizations to identify trends, detect anomalies, and predict outcomes with greater accuracy. For example, in March 2024, TransUnion, a US-based provider of credit protection services, launched OneTru. This platform integrates diverse data and analytical assets for credit risk, marketing, and fraud prevention into a unified ecosystem. OneTru leverages AI and machine learning to create knowledge graphs that enhance identity resolution by linking structured data, such as offline IDs, with unstructured data, such as behavioral information and device attributes. This integration improves fraud detection and reduces false positives.
In April 2024, Aurionpro Solutions Ltd., an India-based technology company specializing in the banking domain, acquired a 67% stake in Arya.ai for $16.5 million. This acquisition aims to bolster Aurionpro's portfolio in artificial intelligence (AI) and machine learning (ML), enhancing its capability to deliver innovative fintech solutions and services. Arya.ai, an India-based developer platform for AI, offers learning modules in text, computer vision, and reasoning.
Major companies operating in the augmented analytics in banking, financial services and insurance (BFSI) market are Microsoft Corporation, Dell Technologies, Accenture, 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.
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.
The countries covered in the augmented analytics in banking, financial services and insurance (BFSI) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The augmented analytics in the banking, financial services, and insurance (BFSI) markets include revenues earned by entities by providing services such as automated reporting, operational efficiency, and investment analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on augmented analytics in banking, financial services and insurance (bfsi) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for augmented analytics in banking, financial services and insurance (bfsi) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The augmented analytics in banking, financial services and insurance (bfsi) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.