Le Lézard
Classified in: Science and technology, Business
Subject: SVY

AI in BFSI Market to Reach $247.36 Bn, Globally, by 2026 at 38.0% CAGR: Allied Market Research


Rise in technological advancements, increase in preferences for personalized financial services, and significant business expansion across the world drive the growth of the global AI in BFSI market

PORTLAND, Oregon, Dec. 6, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Artificial Intelligence in BFSI Market by Offerings (Hardware, Software, and Services), Solution (Chatbots, Fraud Detection & Prevention, Anti-Money Laundering, Customer Relationship Management, Data Analytics & Prediction, and Others), Technology (Deep Learning, Querying Method, Natural Language Processing, and Context Aware Processing) : Global Opportunity Analysis and Industry Forecast, 2019?2026." According to the report, the global AI in BFSI industry was estimated at $17.76 billion in 2018 and is expected to hit $247.36 billion by 2026, registering a CAGR of 38.0% during the estimated period.

Allied Market Research Logo

Drivers, restraints & opportunities-

Increase in technological advancements, rise in preferences for personalized financial services, and remarkable business expansion across the world fuel the growth of the global AI in BFSI market. On the other hand, several security concerns and low adoption of artificial intelligence in businesses curtail down the growth to some extent. Nevertheless, demand for greater customer experience is expected to create an array of opportunities for the frontrunners in the industry.

The software segment to retain its dominance during the estimated period-

Based on offering, the software segment accounted for the major share in 2018, garnering nearly two-thirds of the global AI in BFSI market and is expected to dominate during the forecast period. This is attributed to the benefits provided by financial industries immensely to track transactions, verify data, generate reports, and extract information related to customers. At the same time, the hardware segment would cite the fastest CAGR of 39.6% by 2026. This is due to hardware allows machines to process large unparalleled amount of data for various Banking, financial services, and insurance industry in the market.

If Have Any Query? Ask Our Research Experts: https://www.alliedmarketresearch.com/purchase-enquiry/2791

The chatbots segment to lead the trail during the study period-

Based on solution, the chatbots segment held nearly one-third of the global AI in BFSI market revenue in 2018, and is anticipated to retain its top status during the estimated period. The same segment is also projected to register the fastest CAGR of 39.4% till 2026. This is owing to banks and other financial institutions are integrating chatbots access to quickly assist common customer service queries, enhance onboarding processes, and improve sales effectiveness.

North America to rule the roost by 2026-

Based on geography, North America contributed to nearly half of the global AI in BFSI market share in 2018, and is predicted to maintain its lion's share throughout the forecast period. The commercial banks in this region are prioritizing technological advancements, with higher investments in artificial intelligence technology aiming at improving customer services and increasing revenue in their businesses. Simultaneously, the region across Asia-Pacific would grow at the fastest CAGR of 42.7% during the period 2019?2026. The fact that banks and other financial institutions are focused on large scale investments has driven the adoption of artificial intelligence in the region.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/2791

Key players in the market-

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Blockchain Distributed Ledger Market Expected to Reach $5,430 Million by 2023

U.S. Personal Finance Software Market Expected to Reach $343.4 Million by 2026

Fuel Cards Market Expected to Reach $842,410 Million by 2023

Employment Screening Services Market Expected to Reach $4,892.3 Million by 2023

Pre-book Offer 10% Discount:

Artificial Intelligence & Advanced Machine Learning Market: Global Opportunity Analysis and Industry Forecast 2019 - 2026

Banking Service Market: Global Opportunity Analysis and Industry Forecast by 2019 - 2026

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn:  https://www.linkedin.com/company/allied-market-research/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg


These press releases may also interest you

at 05:00
111, Inc. ("111" or the "Company"), a leading integrated online and offline healthcare platform, announced the release of the sixth episode in its 111 Insight series. The title announced today, The Impact of Chinese Policies to Medical Industry, is...

at 02:30
The Hong Kong subsidiary of China Electronics Corporation (hereafter "CEC") signed a Share Purchase Agreement (SPA) to acquire Pactera Group. According to the agreement, Pactera is now officially a member company of CEC. Established in 1995, Pactera...

at 01:00
Kingsley Gate Partners, a leading global executive search firm, announced that it has acquired Everest Search Partners, an Israeli-based boutique executive search firm. Jeff Shapiro and Noam Eisenberg have joined the company as Senior Partners and...

at 01:00
Telaeris, a handheld badge verification and emergency mustering solutions provider for physical access control systems (PACS), today announced its XPressEntry software integration with Bosch's Access Engine (ACE) access control software at Intersec...

at 00:13
On January 16, The "Great Sharing, New Economy?Beijing Summit of the Global Sharing Economy Forum" was held at the China National Convention Center. It was sponsored by China General Chamber of Commerce and China Association for the Promotion of...

at 00:02
On January 16, 2020, the "Great Sharing, New Economy?Beijing Summit of Global Sharing Economy Forum" was held at the China National Convention Center. It was sponsored by the China General Chamber of Commerce and China Association for the Promotion...



News published on 6 december 2019 at 03:30 and distributed by: