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 major driving factors for the market are the increasing use of data, the growing business collaborations, and improved financial operations.
In the solutions segment, the software tools solution is expected to have the largest market share, whereas platforms solution is expected to be the highest contributor during the forecast period. Software tools help in deploying AI enabled solutions in the finance sector to extract a large amount of data, as well as accurate and complete data on time.
In the services segment, the managed service is expected to grow at the highest CAGR, and is expected to be the largest contributor among all the services. The managed service is expected to be growing faster as it is beneficial for managing AI enabled applications in Fintech. The complexity involved in maintenance and support of infrastructure management is sorted by managed service providers, who enable organizations to use AI solutions at its full potential.
In the deployment mode segment, the cloud deployment mode is expected to have the largest market share and it is expected to grow at the highest CAGR during forecast period. Cloud based solutions offer wide and agile solutions to cater to AI in Fintech market.
In the application area, the business analytics and reporting is expected to have the largest market share, whereas customer behavioral analytics expected to grow at the highest CAGR during the forecast period. The business analytics and reporting helps in regulatory and compliance management as well as in analysis of customer behavior.
The global AI in Fintech market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is estimated to be the largest revenue-generating region. This is mainly because, in the developed economies of the US and Canada, there is a high focus on innovations obtained from R&D. These regions have the most competitive and rapidly changing AI technology in Fintech market in the world. The APAC region is expected to be the fastest-growing region in the AI in Fintech market. The higher technological advancement and rapid expansion of domestic enterprises in the APAC region has led APAC to become a highly potential market.
- Amazon Web Services
- Inbenta Technologies
- Next It Corp.
- Nuance Communications
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview And Industry Trends
6 Ai in Fintech Market Analysis, By Component
7 Ai in Fintech Market Analysis, By Application Area
8 Ai in Fintech Market Analysis, By Deployment Mode
9 Geographic Analysis
10 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/qvqw5j/ai_in_fintech
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