The Global AI in Fintech Market is projected to reach a value of over USD 14.8 Billion by 2027 at a CAGR of around 38.1%.
Artificial intelligence (AI) refers to a branch of computer science that helps to build smart machines to perform various tasks. AI is one of the leading trends which enhances Fintech as well as healthcare, business intelligence, and marketing. Moreover, these technologies will increase the marketing of the products and their services to handle customer problems. Also, it has the potential to eliminate human error in banking procedures and to understand user demands.
Hence, it will bring the digital revolutions for the banking sector which will help to transform the business growth and efficiency which will lead to enhance market growth.
Market Drivers:
With the increasing growth of AI in trading applications with advanced techniques such as deep learning which is in the form of machine learning which may lead to enhance market growth. Also, AI software can absorb a large volume of data to make predictions about the financial market. Moreover, it provides a viable solution that will help to reduce the complexities in the processes and make the business less dependent on stringent formulas.
Hence, increasing the growth of artificial intelligence in trading application would lead to enhance the demand for market growth in the forecast period.
The advancement in automation processes such as customer support with the use of chatbots features is projected to enhance the market growth. Also, it will help to reduce the workload by increasing the robotic process automation (RPA) and operational efficiency. Moreover, it reduces costs by automating time-consuming repetitive tasks which increase the productivity of the market as well as the revenue of the business.
Hence, advancement in the automation process is expected to boost the growth of the market in the forecast period.
Market Restraints:
Cybersecurity has remained a major concern for FinTech market growth. The major risk associated with the market is integration issues such as data privacy, legacy, and compatibility. As well as the market is facing challenges in the digital identification process as a major application is a web application that has mobile devices that work as a front end that will increase the security risk and hinder the market growth.
Therefore, financial institutions need to enhance their security architecture of electronic banking services.
The report on the AI in fintech market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
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Base Year for Market Calculation |
2019 |
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Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Deployment Mode, Component, Application, End-User, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
AI in Fintech Market, by Deployment Mode
AI in Fintech Market, by Component
AI in Fintech Market, by Application
AI in Fintech Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AI IN FINTECH MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
