The global artificial intelligence (AI) in Banking market is expected to reach a market size of USD 130.00 Billion by 2027 and register a high revenue CAGR, according to latest analysis by Emergen Research. A key driving factor includes growing demand for advanced tools to enhance customer experience in the banking sector. Increasing demand for solutions to simplify banking operations is expected to further fuel growth of the global artificial intelligence (AI) market growth during the forecast period. Rising capital venture investment in artificial intelligence (AI) companies is also expected to propel global AI in banking market growth.
Important the study on the AI in Banking market takes a closer look at the top market performers and monitors the strategies that have enabled them to occupy a strong foothold in the market. Performance of the product and services across different segments and geography are thoroughly assessed during the research. Apart from this, the research brings to light real-time data about opportunities that will completely transform the trajectory of the business environment in the coming years.
You Can Download Free Sample PDF Copy of AI in Banking Market at https://www.emergenresearch.com/request-sample/483
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global AI in Banking market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.
Key Highlights of Report
Due to increasing implementation of AI-driven applications in the banks, including customer relationship management (CRM), data analytics & visualization, and chatbot to enhance customer experience and back-office activities, the software segment is projected to register a significant revenue CAGR of 43.1% during the forecast period.
In terms of market share, the deep learning & machine learning segment is expected to lead among the other technology segments in the global AI in the banking market during the forecast period due to growing adoption of deep learning & machine learning approach for risk assessment in banks.
Increasing need to optimize customer engagement by introducing AI-driven virtual assistance and provide 24/7 customer services and answer customer queries and grievances is expected to contribute to revenue growth of the customer service segment in the global AI in the banking market during the forecast period.
Due to growing need to offer improved customer service in the banking industry, the Chatbot segment is projected to lead in terms of revenue share in the global AI in the banking market during the forecast period.
Factors such as growing emphasis of banks in countries in North America on enhancing banking operations with the use of advanced technologies are resulting in the market in the region accounting for comparatively larger revenue share than other regional markets.
Key market participants include Amazon Web Services Inc., Microsoft Corporation, Google LLC, Intel Corporation, Oracle Corporation, Salesforce.com, Inc., SAP SE, Baidu, Inc., Comply Advantage Ltd, and Interactions LLC.
In October 2020, SigOpt, Inc. was acquired by Intel Corporation. Intel will expand artificial intelligence (AI) software solution offerings through the acquisition and enhance AI performance and productivity.
You Can Download Free Sample PDF Copy of AI in Banking Market at https://www.emergenresearch.com/request-sample/483
Component Outlook (Revenue, USD Billion; 2020–2027)
Service
Hardware
Software
Technology Outlook (Revenue, USD Billion; 2020–2027)
Natural Language Processing
Deep Learning & Machine Learning
Computer Vision
Others
Application Outlook (Revenue, USD Billion; 2020–2027)
Customer Service
Back Office
Financial Advisory
Compliance & Security
Risk Management
Others
Solution Outlook (Revenue, USD Billion; 2020–2027)
Customer Behavior Analytics
Data Analytics & Visualization
Fraud Detection
Customer Relationship Management
Chatbot
Others
Read more@ https://www.emergenresearch.com/industry-report/ai-in-banking-market
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. AI in Banking Market Segmentation & Impact Analysis
4.1. AI in Banking Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growth in mobile data traffic
4.2.2.2. Low latency in 5G
4.2.3. Market restraints analysis
4.2.3.1. Delay in Standardization of Spectrum Allocation
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. AI in Banking Market By Communication Infrastructure Insights & Trends, Revenue (USD Million)
Chapter 6. AI in Banking Market By Technology Insights & Trends Revenue (USD Million)
Chapter 7. AI in Banking Market By Network Architecture Insights & Trends Revenue (USD Million)
Chapter 8. AI in Banking Market By End User Insights & Trends Revenue (USD Million)
Chapter 9. AI in Banking Market Regional Outlook
Continued…
Media Contact
Company Name: Emergen Research
Contact Person: Eric Lee
Email: Send Email
Phone: +1 (604) 757-9756
Address:14671 110 Avenue Surrey, British Columbia, V3R2A9
City: Surrey
State: British Columbia
Country: Canada
Website: https://www.emergenresearch.com/industry-report/ai-in-banking-market