IMARC Group, a leading market research company, has recently released a report titled "AI in Fintech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The study provides a detailed analysis of the industry, including the global AI in fintech market scope, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The AI in Fintech Industry?
According to the report, The global AI in fintech market size reached US$ 11.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 43.6 Billion by 2028, exhibiting a growth rate (CAGR) of 25.5% during 2023-2028.
What is AI in Fintech?
Artificial intelligence (AI) in fintech allows for the analysis of cash, credit, and investment accounts of an organization. It enables real-time monitoring of changes and customization of advice based on incoming data, providing an overview of the organizations financial health. It offers numerous benefits, including reduced costs, increased efficiency, few errors, and improved customer experience. At present, AI can identify personally identifiable information (PII) that has been leaked on the dark web and take necessary actions to secure the data, which further enhances data security in the finance industry.
Request for a free sample copy of this report: https://www.imarcgroup.com/ai-in-fintech-market/requestsample
What are the growth prospects and trends in the AI in Fintech industry?
The global AI in fintech market is primarily driven by rising product utilization for virtual assistance, debt collection, sentiment, predictive analysis, reporting, and customer behavior analysis. Moreover, numerous technological advancements, including the integration of fintech solutions with machine learning (ML), neural networks, big data, and evolutionary algorithms that offer enhanced monitoring of financial transactions, risk management, speech recognition, and secured network access to banking institutions is positively influencing the market growth. Additionally, the rising use of the power of AI for fintech crypto by fintech companies, from digital banks to payment gateway providers and stock-trading apps to automate workflows, improve decision-making, and add value, has catalyzed market growth. Other factors, including rapid digitization in the BFSI industry, increasing use of smart contracts for financial processes, and significant improvements in IT infrastructure, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Solutions
- Services
Breakup by Deployment Model:
- Cloud-based
- On-premises
Breakup by Application:
- Virtual Assistant (Chatbots)
- Credit Scoring
- Quantitative and Asset Management
- Fraud Detection
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Amazon Web Services Inc. (Amazon.com Inc)
- Google LLC (Alphabet Inc.)
- Inbenta Technologies Inc.
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- Salesforce.com Inc.
- Samsung Electronics Co. Ltd.
- TIBCO Software Inc.
- Trifacta
- Verint Systems Inc.
Ask Analyst for Free Sample Report: https://www.imarcgroup.com/request?type=reportid=4483flag=C
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Contact US
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
