Global AI in Fintech
Market Report
2024
AI in Fintech market will be USD 8.2 billion in 2024 and expand at a compound annual growth rate (CAGR) of 20.5% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global AI in Fintech will be USD 8.2 billion in 2024 and expand at a compound annual growth rate (CAGR) of 20.5% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global AI in Fintech Market Sales Revenue 2024 | $ 8.2 Billion |
Global AI in Fintech Market Sales Revenue 2030 | $ 45.88 Billion |
Global AI in Fintech Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 20.5% |
Market Split by Component |
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Market Split by Deployment |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of AI in Fintech industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
AI in Fintech Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
AI has shown to be quite successful in the FinTech business because it significantly improves security. AI in cyber security typically takes the form of chatbots that transform frequently requested inquiries into simulated interactions. Furthermore, they can reset lost passwords and allow further access as needed. Furthermore, customer service is one of the most visible aspects of FinTech that has been enhanced by artificial intelligence. As artificial intelligence has advanced, chatbots, virtual assistants, and artificial intelligence interfaces that can communicate with clients have become more reliable. The capacity to answer basic questions has enormous promise for decreasing front-office and hotline expenditures. Moreover, AI in FinTech aids with fraud identification, which is a significant concern in the FinTech business. Thus, these are some of the factors driving market expansion. However, the finance and banking sectors are subject to stringent regulations that assure fairness and tax compliance. However, AI analytics for financial services differs from typical, human-powered analytics in that they cannot be used for regulatory reporting. Furthermore, the exclusivity of AI in FinTech is one of the primary factors restricting AI's market potential.
Al's Crucial Role In Fraud Detection Fuels Its Growth In The Fintech Market - The demand for fraud detection in fintech or financial institutions is driving the expansion of Al in the fintech business. Artificial intelligence, also known as machine learning algorithms, may learn new knowledge from collected data; the more data that Al manipulates, the more Al can learn, and banks can acquire deeper insights with Al technology. The main advantage of Al is that the algorithm improves over time as it collects more data and learns how to use it. The advantage is that it begins as soon as the Al is deployed and continues to expand without interruption of contribution. Small-scale enterprises drive overall growth in fintech
Concerns Over Data Privacy Inadequate Regulation of the Fintech Industry
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In March 2023, CSI, an end-to-end fintech and regtech solution provider, has collaborated with Hawk AI, a global provider of anti-money laundering (AML) and fraud prevention technologies for banks and payment processors, to launch its latest products, WatchDOG Fraud and WatchDOG AML. The products' artificial intelligence (AI) and machine learning (ML) algorithms enable multilayered, automated monitoring, detection, and reporting of fraudulent or dubious activity in real time. WatchDOG Fraud detects fraudulent patterns across all channels and payment types by analysing transaction behaviour.
Top Companies Market Share in AI in Fintech Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024, accounting for more than 40% of global revenue. This large percentage is due to a heavy emphasis on R&D-derived inventions in the developed economies of the United States and Canada. These regions have the most competitive and rapidly growing AI technology in fintech. It is also fueled by a large number of startups and rising firms that provide AI services to the financial sector.
Asia Pacific is expected to have the fastest CAGR from 2024 to 2031. This expansion can be ascribed to the region's rapid acceptance of digital payments and growing use of internet services. APAC has emerged as a promising market as technology has advanced. The rapid expansion of local enterprises, together with supporting government policies, presents tremendous potential for the advancement of AI in the fintech industry. Furthermore, major businesses invest in the region's new markets as part of their business plan, which contributes to regional market expansion.
The current report Scope analyzes AI in Fintech Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global AI in Fintech Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing AI in Fintech Industry growth. AI in Fintech market has been segmented with the help of its Component, Deployment Application, and others. AI in Fintech market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the solution segment dominated the market in 2024. The high share can be ascribed to software tools, which allow in the deployment of AI-enabled solutions in the banking industry to extract accurate and full data with a large volume of data and on time. Some organizations' solutions help businesses do things like to expand their retail banking business with next-best-action software, detect and battle financial fraud, and improve client relationships with multichannel customer experience solutions.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of AI in Fintech Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of AI in Fintech from 2019 to 2031. This will also help to analyze the demand for AI in Fintech across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Deployment of AI in Fintech are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global AI in Fintech Market is witnessing significant growth in the near future.
In 2023, the Solution segment accounted for noticeable share of global AI in Fintech Market and is projected to experience significant growth in the near future.
The On-premise segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies TIBCO Software Inc. , Capgemini and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Solution, Services |
Deployment | On-premise, Cloud |
Application | Customer Behavioral Analytics, Virtual Assistants (Chatbots), Business Analytics and Reporting |
List of Competitors | TIBCO Software Inc., Oracle Corporation, Capgemini, IBM, Amazon Web Services Inc., Microsoft, FiCO, Google, Cognizant, Intel Corporation, Cisco Systems Inc., Hewlett Packard Enterprise Development LP, Saleforce Inc., ComplyAdvantage, SAP SE, Inbenta Holdings Inc., HCL Technologies Limited |
This chapter will help you gain GLOBAL Market Analysis of AI in Fintech. Further deep in this chapter, you will be able to review Global AI in Fintech Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Deployment Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global AI in Fintech market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Solution have a significant impact on AI in Fintech market? |
What are the key factors affecting the Solution and Services of AI in Fintech Market? |
What is the CAGR/Growth Rate of On-premise during the forecast period? |
By type, which segment accounted for largest share of the global AI in Fintech Market? |
Which region is expected to dominate the global AI in Fintech Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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