AI in Fintech Market by Component (Solution, Service), Application Area (Virtual Assistant, Business Analytics & Reporting, Customer Behavioral Analytics), Deployment Mode (Cloud, On-Premises), and Region - Global forecast to 2022

  • ID: 4395975
  • Report
  • Region: Global
  • 124 Pages
  • Markets and Markets
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The Market for AI in Fintech 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%

FEATURED COMPANIES

  • Amazon Web Services
  • Google
  • Inbenta Technologies
  • IPsoft
  • Next IT Corp.
  • Salesforce.com
  • MORE

“The AI in Fintech is projected to grow at a CAGR of 40.4% during the forecast period”

The market for AI in Fintech 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 availability of spatial data is a major factor driving the growth of the AI in Fintech market. Sustaining in a competitive market has become crucial for the financial sector due to technological advancements. In order to achieve efficiency across business processes, enterprises need to design and layout a plan of action. This can be done by properly implementing AI practices into its operations.

The lack of skilled consultants to deploy AI in Fintech expected to be a major restraint for the AI in Fintech market. AI technology can be integrated in financial sector through solution and services based on level of integration. Since, AI is in the developing stage and deployment of AI needs availability of skilled expertise which can act as a restraint for the AI in Fintech market.

“Business Analytics and Reporting is expected to have the largest market size during the forecast period”

The application areas in the AI in Fintech market include virtual assistants (Chatbots), business analytics and reporting, customer behavioral analytics, and others (includes market research, advertising and marketing campaign). Business analytics and reporting application area helps the finance companies to meet regulatory and compliance requirements as well as manage compliance records. Moreover, it also enables financial institutions to analyze customer behavior. To meet these requirements, the financial companies are deploying AI enabled solutions to get maximum benefits of the technology.

“Asia Pacific (APAC) is expected to witness the highest growth rate during the forecast period”

APAC is expected to grow at the highest CAGR during the forecast period. Factors such as higher technological advancement in the region, rapid expansion of domestic enterprises, and higher development of infrastructure are driving the AI in Fintech market in the APAC region. The North American region is expected to have the largest market share during the forecast period. The main driving factors for the market are rapid development of AI in the finance sector, increase in the usage of data, and adoption of predictive analytics tools.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.

  • By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
  • By Designation: C-level - 48%, Director-level - 37%, and Others - 15%
  • By Region: North America - 22%, Europe - 45%, APAC - 26% , and the Rest of the World (ROW) - 7%

The major AI in Fintech vendors are: Microsoft (Washington, US), Google (California, US), Salesforce.com (California, US), IBM (New York, US), Intel (California, US), Amazon Web Services (Washington, US), Inbenta Technologies (California, US), IPsoft (New York, US), Nuance Communications (Massachusetts, US), and ComplyAdvantage.com (New York, US).

Research Coverage

The AI in Fintech market has been segmented on the basis of components (solution and services), deployment modes, application areas, and region. The AI in Fintech solutions help AI in Fintech software, platform, and service providers, IPO/VC/Angel investors, BFSI organizations, and government organizations to improve financial operations and reduce costs. The AI in Fintech market segmented on the basis of the components include solution and services. The solution segment is further segmented into software tools and platforms. The services offered in the AI in Fintech market include managed and professional services. The deployment modes in AI in Fintech market include the cloud and on-premises. The application areas are segmented into virtual assistants (chatbots), business analytics and reporting, customer behavioral analytics, and others (includes market research, advertising and marketing campaign). Finally, on the basis of regions, the AI in Fintech market is segmented into North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

The report will help the market leaders and new entrants in the AI in Fintech market in the following ways:

  • The report segments the market into various subsegments, hence it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different application areas and regions.
  • The report helps in understanding the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
  • The report helps in understanding the competitors better and gaining more insights to strengthen the organization’s position in the market. The study also presents the positioning of the key players in the market based on their product offerings and business strategies.
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FEATURED COMPANIES

  • Amazon Web Services
  • Google
  • Inbenta Technologies
  • IPsoft
  • Next IT Corp.
  • Salesforce.com
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.3 Breakdown of Primaries
2.1.4 Key Industry Insights
2.2 Market Size Estimation
2.3 Bottom-Up Approach
2.4 Top-Down Approach
2.5 Microquadrant Research Methodology
2.5.1 Vendor Inclusion Criteria
2.6 Research Assumptions and Limitation
2.6.1 Research Assumptions
2.6.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the AI in Fintech Market
4.2 Lifecycle Analysis, By Region, 2017-2022

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Availability of Spatial Data
5.2.1.2 Growing Internet Penetration
5.2.2 Restraints
5.2.2.1 Lack of Skilled Consultants to Deploy AI in Fintech
5.2.3 Opportunities
5.2.3.1 Increasing Mobile Workforce Will Surge Further Innovation in the Fintech Market
5.2.3.2 Increasing Use of AI-Enabled Technological Solution in the Capital Market
5.2.4 Challenges
5.2.4.1 Difficulty to Cope With the Rapidly Expanding Scope of AI in Fintech Solution
5.2.4.2 Development of Smart Human-Aware Fintech Solution
5.3 Use Cases
5.3.1 Retail Banks
5.3.2 Insurance
5.3.3 Commercial Banks
5.3.4 Stock Market/Capital Market
5.4 Key Industry Developments

6 AI in Fintech Market Analysis, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Software Tools
6.2.1.1 Data Discovery
6.2.1.2 Data Quality and Data Governance
6.2.1.3 Data Visualization
6.2.2 Platforms
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services

7 AI in Fintech Market Analysis, By Application Area
7.1 Introduction
7.2 Virtual Assistants (Chatbots)
7.3 Business Analytics and Reporting
7.3.1 Regulatory and Compliance Management
7.3.2 Predictive Analytics
7.4 Customer Behavioral Analytics
7.4.1 Credit Scoring
7.4.2 Asset and Portfolio Management
7.4.3 Debt Collection
7.4.4 Insurance Premium
7.5 Others

8 AI in Fintech Market Analysis, By Deployment Mode
8.1 Introduction
8.2 Cloud
8.3 On-Premises

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America

10 Competitive Landscape
10.1 Microquadrant Overview
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Competitive Benchmarking

11 Company Profiles
(Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments)
11.1 Microsoft
11.2 Google
11.3 IBM
11.4 Intel
11.5 Inbenta Technologies
11.6 Nuance Communications
11.7 Complyadvantage.com
11.8 Salesforce.com
11.9 Amazon Web Services
11.10 Samsung
11.11 IPsoft
11.12 Next IT Corp.
Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments Might Not Be Captured in Case of Unlisted Companies

12 Appendix
12.1 Discussion Guide

List of Tables
Table 1 United States Dollar Exchange Rate, 2014-2016
Table 2 Evaluation Criteria
Table 3 AI in Fintech Market Size, By Component, 2015-2022 (USD Million)
Table 4 Component: AI in Fintech Market Size, By Solution, 2015-2022 (USD Million)
Table 5 Software Tools Market Size, By Type, 2015-2022 (USD Million)
Table 6 Data Discovery Market Size, By Application Area, 2015-2022 (USD Million)
Table 7 Data Quality and Data Governance Market Size, By Application Area, 2015-2022 (USD Million)
Table 8 Data Visualization Market Size, By Application Area, 2015-2022 (USD Million)
Table 9 Component: AI in Fintech Market Size, By Service, 2015-2022 (USD Million)
Table 10 AI in Fintech Market Size, By Application Area, 2015-2022 (USD Million)
Table 11 Virtual Assistants (Chatbots): Market Size, By Region, 2015-2022 (USD Million)
Table 12 Virtual Assistants (Chatbots): Market Size, By Component, 2015-2022 (USD Million)
Table 13 Business Analytics and Reporting: Market Size, By Type, 2015-2022 (USD Million)
Table 14 Business Analytics and Reporting: Market Size, By Region, 2015-2022 (USD Million)
Table 15 Business Analytics and Reporting: Market Size, By Component, 2015-2022 (USD Million)
Table 16 Customer Behavioral Analytics: Market Size, By Type, 2015-2022 (USD Million)
Table 17 Customer Behavioral Analytics: Market Size, By Region, 2015-2022 (USD Million)
Table 18 Customer Behavioral Analytics: Market Size, By Component, 2015-2022 (USD Million)
Table 19 Others: Market Size, By Region, 2015-2022 (USD Million)
Table 20 AI in Fintech Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 21 AI in Fintech Market Size, By Region, 2015-2022 (USD Million)
Table 22 North America: Market Size, By Component, 2015-2022 (USD Million)
Table 23 North America: Market Size, By Solution, 2015-2022 (USD Million)
Table 24 North America: Market Size, By Software Tool, 2015-2022 (USD Million)
Table 25 North America: Market Size, By Service, 2015-2022 (USD Million)
Table 26 North America: Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 27 North America: Market Size, By Application Area, 2015-2022 (USD Million)
Table 28 North America: Market Size, By Business Analytics and Reporting, 2015-2022 (USD Million)
Table 29 North America: Market Size, By Customer Behavioral Analytics, 2015-2022 (USD Million)
Table 30 North America: Market Size, By Country, 2015-2022 (USD Million)
Table 31 Europe: AI in Fintech Market Size, By Component, 2015-2022 (USD Million)
Table 32 Europe: Market Size, By Solution, 2015-2022 (USD Million)
Table 33 Europe: Market Size, By Software Tool, 2015-2022 (USD Million)
Table 34 Europe: Market Size, By Service, 2015-2022 (USD Million)
Table 35 Europe: Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 36 Europe: Market Size, By Application Area, 2015-2022 (USD Million)
Table 37 Europe: Market Size, By Business Analytics and Reporting, 2015-2022 (USD Million)
Table 38 Europe: Market Size, By Customer Behavioral Analytics, 2015-2022 (USD Million)
Table 39 Asia Pacific: AI in Fintech Market Size, By Component, 2015-2022 (USD Million)
Table 40 Asia Pacific: Market Size, By Solution, 2015-2022 (USD Million)
Table 41 Asia Pacific: Market Size, By Software Tool, 2015-2022 (USD Million)
Table 42 Asia Pacific: Market Size, By Service, 2015-2022 (USD Million)
Table 43 Asia Pacific: Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 44 Asia Pacific: Market Size, By Application Area, 2015-2022 (USD Million)
Table 45 Asia Pacific: Market Size, By Business Analytics and Reporting, 2015-2022 (USD Million)
Table 46 Asia Pacific: Market Size, By Customer Behavioral Analytics, 2015-2022 (USD Million)
Table 47 Middle East and Africa: AI in Fintech Market Size, By Component, 2015-2022 (USD Million)
Table 48 Middle East and Africa: Market Size, By Solution, 2015-2022 (USD Million)
Table 49 Middle East and Africa: Market Size, By Software Tool, 2015-2022 (USD Million)
Table 50 Middle East and Africa: Market Size, By Service, 2015-2022 (USD Million)
Table 51 Middle East and Africa: Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 52 Middle East and Africa: Market Size, By Application Area, 2015-2022 (USD Million)
Table 53 Middle East and Africa: Market Size, By Business Analytics and Reporting, 2015-2022 (USD Million)
Table 54 Middle East and Africa: Market Size, By Customer Behavioral Analytics, 2015-2022 (USD Million)
Table 55 Latin America: AI in Fintech Market Size, By Component, 2015-2022 (USD Million)
Table 56 Latin America: Market Size, By Solution, 2015-2022 (USD Million)
Table 57 Latin America: Market Size, By Software Tool, 2015-2022 (USD Million)
Table 58 Latin America: Market Size, By Service, 2015-2022 (USD Million)
Table 59 Latin America: Market Size, By Deployment Mode, 2015-2022 (USD Million)
Table 60 Latin America: Market Size, By Application Area, 2015-2022 (USD Million)
Table 61 Latin America: Market Size, By Business Analytics and Reporting, 2015-2022 (USD Million)
Table 62 Latin America: Market Size, By Customer Behavioral Analytics, 2015-2022 (USD Million)
Table 63 Market Ranking for the AI in Fintech Market, 2017

List of Figures
Figure 1 Global AI in Fintech Market: Market Segmentation
Figure 2 Global Market: Research Design
Figure 3 Data Triangulation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 AI in Fintech Market Snapshot, By Component (2017 vs 2022)
Figure 7 Market Snapshot, By Solution
Figure 8 Market Snapshot, By Software Tool
Figure 9 Market Snapshot, By Service
Figure 10 Market Snapshot, By Deployment Mode
Figure 11 Market Snapshot, By Application Area
Figure 12 Market Snapshot, By Region
Figure 13 Availability of Spatial Data and Growing Internet Penetration are Driving the AI in Fintech Market During the Forecast Period
Figure 14 Asia Pacific is Expected to Exhibit the Highest Growth Potential During the Forecast Period
Figure 15 Market Investment Scenario: Asia Pacific is Expected to Be the Best Opportunity Market for Investment in the Next 5 Years
Figure 16 AI in Fintech Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Solutions Component is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 18 Platforms Segment is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 19 Managed Services Segment is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 20 Virtual Assistants (Chatbots), and Customer Behavioral Analytics Application Areas are Expected to Exhibit the Highest Growth Rates During the Forecast Period
Figure 21 Cloud Deployment Mode is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 22 Asia Pacific is Expected to Have the Highest CAGR During the Forecast Period
Figure 23 Asia Pacific is Expected to Have the Highest Growth Rate During the Forecast Period
Figure 24 North America: Market Snapshot
Figure 25 Asia Pacific: Market Snapshot
Figure 26 AI in Fintech Market (Global) Competitive Leadership Mapping, 2017
Figure 27 Business Strategy Excellence Adopted in the Market
Figure 28 Strength of Product Portfolio in the Market
Figure 29 Microsoft: Company Snapshot
Figure 30 Google: Company Snapshot
Figure 31 IBM: Company Snapshot
Figure 32 Intel: Company Snapshot
Figure 33 Nuance Communications: Company Snapshot
Figure 34 Salesforce.Com: Company Snapshot
Figure 35 Amazon Web Services: Company Snapshot
Figure 36 Samsung: Company Snapshot

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  • Amazon Web Services
  • Complyadvantage.com
  • Google
  • IBM
  • Inbenta Technologies
  • Intel
  • IPsoft
  • Microsoft
  • Next IT Corp.
  • Nuance Communications
  • Salesforce.com
  • Samsung
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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