AI in Fintech Industry Shares, Strategies, and Forecasts to 2022!!


Posted June 14, 2019 by RubyD984

The objective of the study has been carried out to define, describe, and forecast the global AI in Fintech market on the basis of solution, services, deployment modes, application areas, and regions.
 
The global AI in Fintech Market is expected to grow from USD 1,337.7 million in 2017 to USD 7,305.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%. The AI in Fintech solution and services help in data analysis, wealth management, fraud detection, financial literacy, and many more. The major driving factors for the market are the need for increasing operational efficiency and reduced costs, growing internet penetration, and availability of spatial data.

The Asia Pacific (APAC) region is expected to show the highest CAGR during the forecast period in the AI in Fintech market. The higher technological advancements in the APAC region has left organizations wanting for more efficient and faster AI solutions for the finance market to manage customer queries and front and back end applications issues. The vendors are providing a complete new platform and AI solution to cater to the organizations’ requirements.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=34074774

On the basis of component, the AI in Fintech market is broadly classified into solution (software tools and platforms) and services (managed and professional). The solution segment is expected to grow at the highest CAGR during the forecast period. With the growth in the market, the demand for services is also expected to increase, specifically for managed services. As the financial firms are working toward improvement of business processes with the help of AI technology, the demand for professional services is also expected to increase.

On the basis of solution, the AI in Fintech market is segmented into software tools and platforms. In the software tools market, data discovery is expected to grow at the highest CAGR during the forecast period. It allows financial institutes to extract non-trivial data that can be utilized to offer innovative solutions in the AI in Fintech market.

On basis of deployment modes, the AI in Fintech market is segmented into cloud and on-premises. The cloud segment is expected to grow at the highest CAGR during the forecast period. Cloud-based solutions offer rapid implementation, security, and ease of use. The AI in Fintech solution deployed on cloud ensures that enterprises have to invest lesser for managing their financial issues.

Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=34074774

The AI in Fintech market is also segmented on the basis of application area, which include segments, such as virtual assistants (chatbots), business analytics and reporting, customer behavioral analytics, and others (includes market research, advertising, and marketing campaign). The virtual assistants (chatbots) and customer behavioral analytics are expected to grow at a faster speed during the forecast period. Finance companies are using virtual assistances for cost effectiveness, speed, and accuracy in its business operations.

AI is proving beneficial in various business operations of the finance industry, and financial institutions are deploying AI to get a competitive advantage in the market.
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By MarketsandMarkets
Phone 8886006441
Business Address Suite 430
https://www.marketsandmarkets.com
Country Northern Mariana Islands
Categories Science , Technology , Telecom
Tags ai in fintech , ai in fintech market
Last Updated June 14, 2019