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Global AI in Fintech Market Size, Share, Growth, Analysis, Forecast: By Type: Solutions, Services; By Deployment: Cloud, On-premises; By Application: Chatbots, Credit Scoring, Quantitative and Asset Management, Fraud Detection, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Industry Events and Developments; 2024-2032
Global AI in Fintech Market Outlook
The global AI in fintech market size attained a value of approximately USD 12.61 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 19.50%, reaching a value of around USD 62.65 billion by 2032.
AI technology is increasingly being adopted in the fintech sector to enhance decision-making and to facilitate predictive analysis, bolstering the operational efficiency of fintech services. Meanwhile, an unpredicted wave of loan applications are likely to be among the key AI in fintech market trends, fuelling the demand for AI to sanction digital loans. Incorporation of AI in fintech enables efficient 24X7 customer service which has enhanced customer satisfaction in real-time. Technology is constantly evolving with numerous ventures initiated by companies to research and develop new processes to improve the workflow. Artificial intelligence completes many tasks simultaneously, learns self-advancement, removes the need for human intervention, and reduces the margins of error. Usage of AI is helping the financial sector gain real-time actionable insights, creating opportunities for the growth of the market for AI in fintech.
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Global AI in Fintech Market Share by Region
North America accounts for a healthy share of the global market for AI in fintech, owing to the developed financial sector in countries like the United States and Canada. Increased investments in research and development and innovations in AI technology are further strengthening the market in this region. Advancing technology and adoption of internet and mobile banking are expected to augment the AI in fintech market growth further. During the COVID 19 pandemic and post-pandemic, the finance technology market experienced high growth as the industry increasingly adopted internet banking as well as technology tools. Meanwhile, the Asia Pacific region is expected to witness significant growth in the market for AI in fintech.
Market Segmentations
AI in Fintech refers to the usage of artificial intelligence in financial technology, utilising modern technologies and AI to improve operations in the financial industry and provide improved services to end-user customers. It uses computer innovations to complete and deliver financial services, and provides services through software, such as online banking, mobile payment apps, and even cryptocurrency.
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The AI in fintech market segmentation based on type is:
- Solutions
- Services
On the basis of deployment, the market is bifurcated into:
- Cloud
- On-premises
By application, the market is categorised into:
- Chatbots
- Credit Scoring
- Quantitative and Asset Management
- Fraud Detection
- Others
The regional markets for AI in fintech are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rising Adoption of Artificial Intelligence is Bolstering the Market Growth
Collaborations in the market for AI in fintech are increasing worldwide, spurred by surge in fund transfers and operations in different sectors, resulting in increasing involvement of technology in financial services. Increasing globalisation has propelled the financial sector to implement advanced technologies such as artificial intelligence to automate and secure processes against fraudulent acts. Organisations which are dealing with data pile up can substantially benefit from using artificial intelligence, machine learning, and big data analysis, creating new ways to track and record transactions and financial assets.
Smart mobile payments are becoming increasingly popular as more people depend on online transactions when they collaborate and conduct business. Accordingly, many key players are launching and providing payment platforms and are continually developing them by adding new features, which is expanding the scope of the AI in fintech market. Adopting advanced technologies has helped fintech evolve in the investment management sector; it assists businesses in evaluating investment possibilities, creating portfolios, and mitigating risks.
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Key Players in the Global Market for AI in Fintech
The report gives a detailed analysis of the following key players in the global AI in fintech market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, investments, expansions of capacity, and plant turnarounds:
- Intel Corporation
- Google LLC
- Microsoft Corporation
- IBM Corporation
- TIBCO Software Inc.
- Super.AI Inc
- NVIDIA Corporation
- ComplyAdvantage
- Amazon Web Services, Inc.
- Amelia US LLC
- Cognizant
- Capgemini SE
- Onfido
- Fair Isaac Corporation (FICO)
- HCL Technologies Limited
- Oracle Corporation
- Salesforce, Inc
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Deployment |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global AI in Fintech Market Analysis
8.1 Key Industry Highlights
8.2 Global AI in Fintech Historical Market (2018-2023)
8.3 Global AI in Fintech Market Forecast (2024-2032)
8.4 Global AI in Fintech Market by Type
8.4.1 Solutions
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global AI in Fintech Market by Deployment
8.5.1 Cloud
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 On-premises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global AI in Fintech Market by Application
8.6.1 Chatbots
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Credit Scoring
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Quantitative and Asset Management
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Fraud Detection
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global AI in Fintech Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America AI in Fintech Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe AI in Fintech Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific AI in Fintech Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America AI in Fintech Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa AI in Fintech Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Intel Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Google LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Microsoft Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 IBM Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 TIBCO Software Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Super.AI Inc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 NVIDIA Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 ComplyAdvantage
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Amazon Web Services, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Amelia US LLC
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Cognizant
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Capgemini SE
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Onfido
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Fair Isaac Corporation (FICO)
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 HCL Technologies Limited
15.2.15.1 Company Overview
15.2.15.2 Product Portfolio
15.2.15.3 Demographic Reach and Achievements
15.2.15.4 Certifications
15.2.16 Oracle Corporation
15.2.16.1 Company Overview
15.2.16.2 Product Portfolio
15.2.16.3 Demographic Reach and Achievements
15.2.16.4 Certifications
15.2.17 Salesforce, Inc
15.2.17.1 Company Overview
15.2.17.2 Product Portfolio
15.2.17.3 Demographic Reach and Achievements
15.2.17.4 Certifications
15.2.18 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global AI in Fintech Market: Key Industry Highlights, 2018 and 2032
2. Global AI in Fintech Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global AI in Fintech Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global AI in Fintech Historical Market: Breakup by Deployment (USD Billion), 2018-2023
5. Global AI in Fintech Market Forecast: Breakup by Deployment (USD Billion), 2024-2032
6. Global AI in Fintech Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global AI in Fintech Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global AI in Fintech Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global AI in Fintech Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America AI in Fintech Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America AI in Fintech Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe AI in Fintech Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe AI in Fintech Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific AI in Fintech Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific AI in Fintech Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America AI in Fintech Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America AI in Fintech Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa AI in Fintech Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa AI in Fintech Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global AI in Fintech Market Structure.
Key Questions Answered in the Report
In 2023, the global market of AI in fintech attained a value of approximately USD 12.61 billion.
The market is projected to grow at a CAGR of 19.50% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 62.65 billion by 2032.
The major market drivers include the expansion of the fintech sector, implementation of advanced technology in fintech, and increasing adoption of artificial intelligence.
The key trends of the market include widespread use of smart mobile payment applications, use of AI for automation, and increasing investments in research and development.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific.
The primary types of AI in fintech in the market are solutions and services.
The significant deployments of AI in fintech in the market include cloud and on-premises.
The various applications of AI in fintech include chatbots, credit scoring, quantitative and asset management, and fraud detection, among others.
The major players in the market are Intel Corporation, Google LLC, Microsoft Corporation, IBM Corporation, TIBCO Software Inc., Super.AI Inc, NVIDIA Corporation, ComplyAdvantage, Amazon Web Services, Inc., Amelia US LLC, Cognizant, Capgemini SE, Onfido, Fair Isaac Corporation (FICO), HCL Technologies Limited, Oracle Corporation, and Salesforce, Inc, among others.
Analyst Review
The global AI in fintech market attained a value of USD 12.61 billion in 2023, driven by the rising prevalence of smart mobile payment applications. Aided by growing technological advancements, the market is expected to grow at a CAGR of 19.50% in the forecast period of 2024-2032. The market is projected to reach a value of around USD 62.65 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. The market is segmented based on type into solutions and services. Based on deployment, the market is bifurcated into cloud and on-premises. The applications in the market for AI in fintech include chatbots, credit scoring, quantitative and asset management, and fraud detection, among others. The major regional markets for AI in fintech are North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, with North America being the largest region of the market and Asia Pacific. The key players in the above market include Intel Corporation, Google LLC, Microsoft Corporation, IBM Corporation, TIBCO Software Inc., Super.AI Inc, NVIDIA Corporation, ComplyAdvantage, Amazon Web Services, Inc., Amelia US LLC, Cognizant, Capgemini SE, Onfido, Fair Isaac Corporation (FICO), HCL Technologies Limited, Oracle Corporation, and Salesforce, Inc, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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