Catalyzing Financial Intelligence : AI and Advanced Machine Learning in BFSI Market Poised to Reach $61.24 Bn by 2030

AI and Advance Machine Learning in BFSI Market : Global Opportunity Analysis and Industry Forecast, 2021–2030

Catalyzing Financial Intelligence : AI and Advanced Machine Learning in BFSI Market Poised to Reach $61.24 Bn by 2030

“Improvement in data collection technology among the banks and financial institutions positively impacts the AI and advance machine learning in BFSI market growth.”

— Allied Market Research

NEW CASTLE, WILMINGTON, UNITED STATES, January 19, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global AI and advanced machine learning in the BFSI market garnered $7.66 billion in 2020 and is expected to generate $61.24 billion by 2030, witnessing a CAGR of 23.1% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

𝑮𝒆𝒕 𝑺𝒂𝒎𝒑𝒍𝒆 𝑷𝑫𝑭 𝑯𝒆𝒓𝒆: https://www.alliedmarketresearch.com/request-sample/4334

The rise in investments by BFSI companies in AI and machine learning, preferences for personalized financial services, and increase in collaboration activities between financial institutes and AI & machine learning solution companies drive the growth of the global AI and advanced machine learning in the BFSI market. However, the high cost of deployment for AI and advanced machine learning and the lack of skilled professionals hinder market growth. On the other hand, support for government initiatives and a rise in investments to leverage AI technology create new opportunities in the coming years.

Covid-19 Scenario:

The adoption of AI and advanced machine learning in the BFSI sector increased during the COVID-19 pandemic due to a shift toward a “work from home” culture and the need to carry out difficult tasks in banks and fintech organizations.

The increase in digitization and transaction delays & need to raise the speed of payment processing led to increased adoption of AI and machine learning technologies.

Furthermore, nearly 35% of banks reported that machine learning tools and data science technologies made a positive impact in supporting remote working among employees and providing overall security for projects.

There has been an increase in several inquiries for various banking and fintech services during the pandemic. This accelerated the usage of machine learning-powered tools for the management of sudden increases in customer inquiries.

The report offers detailed segmentation of the global AI and advanced machine learning in the BFSI market based on component, deployment model, enterprise size, application, and region.

𝑰𝒏𝒕𝒆𝒓𝒆𝒔𝒕𝒆𝒅 𝒊𝒏 𝑷𝒓𝒐𝒄𝒖𝒓𝒊𝒏𝒈 𝒕𝒉𝒆 𝑫𝒂𝒕𝒂? 𝑰𝒏𝒒𝒖𝒊𝒓𝒆 𝒉𝒆𝒓𝒆 @ https://www.alliedmarketresearch.com/purchase-enquiry/4334

Based on components, the solution segment accounted for the highest share in 2020, contributing to nearly four-fifths of the total share, and is projected to maintain its lead position during the forecast period. However, the service segment is expected to manifest the fastest CAGR of 25.5% from 2021 to 2030.

Based on application, the fraud & risk management segment contributed to the highest market share in 2020, accounting for nearly one-third of the global AI and advanced machine learning in the BFSI market, and is estimated to continue its leadership status during the forecast period. However, the digital assistance segment is projected to witness the largest CAGR of 24.8% from 2021 to 2030.

Based on region, North America held the largest share in 2020, accounting for more than two-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the highest CAGR of 24.6% during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: https://www.alliedmarketresearch.com/request-for-customization/4334

A list of companies profiled of the global AI and advanced machine learning in the BFSI market analyzed in the research include Amazon Web Services Inc., Cisco Systems, Inc., BigML, Inc., Hewlett Packard Enterprise Development LP, Fair Isaac Corporation, Microsoft Corporation, International Business Machines Corporation, SAP SE, RapidMiner, Inc., and SAS Institute Inc.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By component, the solution segment was the major share contributor in 2020.

Region-wise, North America generated the highest revenue in 2020.

Based on the deployment model, the on-premises segment generated the highest revenue in 2020.

𝐓𝐚𝐛𝐥𝐞 𝐎𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭

Chapter 1 : INTRODUCTION

Chapter 2 : EXECUTIVE SUMMARY

Chapter 3 : MARKET OVERVIEW

Chapter 4 : GLOBAL ARTIFICIAL INTELLIGENCE & ADVANCE MACHINE LEARNING IN BFSI MARKET, BY COMPONENT

Chapter 5 : GLOBAL ARTIFICIAL INTELLIGENCE & ADVANCE MACHINE LEARNING IN BFSI MARKET, BY DEPLOYMENT MODEL

Chapter 6 : GLOBAL ARTIFICIAL INTELLIGENCE & ADVANCE MACHINE LEARNING IN BFSI MARKET, BY ENTERPRISE SIZE

Chapter 7 : GLOBAL ARTIFICIAL INTELLIGENCE & ADVANCE MACHINE LEARNING IN BFSI MARKET, BY APPLICATION

Chapter 8 : GOBAL ARTIFICIAL INTELLIGENCE & ADVANCE MACHINE LEARNING IN BFSI MARKET, BY REGION

Chapter 9 : COMPETITIVE LANDSCAPE

Chapter 10 : COMPANY PROFILE

LIST OF TABLES

LIST OF FIGURES

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” 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. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. 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.

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