LONDON--(BUSINESS WIRE)--Technavio has been monitoring the artificial intelligence (AI) market in BFSI sector and it is poised to grow by USD 11.94 bn during 2019-2023, progressing at a CAGR of over 32% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Amazon Web Services Inc., Google LLC, IBM Corp., Microsoft Corp., and Oracle Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Focus on autonomous banking has been instrumental in driving the growth of the market.
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Artificial Intelligence (AI) Market in BFSI Sector 2019-2023: Segmentation
Artificial Intelligence (AI) Market in BFSI Sector is segmented as below:
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End-user
- Banking
- Investment and Securities Management
- Insurance
-
Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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Artificial Intelligence (AI) Market in BFSI Sector 2019-2023: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The artificial intelligence (AI) market in BFSI sector report covers the following areas:
- Artificial Intelligence (AI) Market in BFSI Sector Size
- Artificial Intelligence (AI) Market in BFSI Sector Trends
- Artificial Intelligence (AI) Market in BFSI Sector Industry Analysis
This study identifies the growing focus on personalized experience as one of the prime reasons driving the artificial intelligence (AI) market growth in BFSI sector during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Artificial Intelligence (AI) Market in BFSI Sector 2019-2023: Key Highlights
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will assist artificial intelligence (AI) market growth in BFSI sector during the next five years
- Estimation of the artificial intelligence (AI) market size in BFSI sector and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the artificial intelligence (AI) market in BFSI sector
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of artificial intelligence (AI) market vendors in BFSI sector
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Banking - Market size and forecast 2018-2023
- Investment and securities management - Market size and forecast 2018-2023
- Insurance - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Rise in cloud-based solutions
- Growing focus on personalized experience
- Rise in popularity of open banking
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Amazon Web Services, Inc.
- Google LLC
- IBM Corp.
- Microsoft Corp.
- Oracle Corp.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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