AI in Banking Market Size
Striking advancements in AI implicating remarkable growth in banking sector
What Is The Projected Market Size Of The Global AI in Banking Market And Its Growth Rate?
The AI in banking market is seeing a significant upswing. Notable stats include:
• Market size growth from $11.71 billion in 2024 to $15.37 billion in 2025, marking a CAGR of 31.3%.
• Predicted market size of $50.63 billion in 2029, ostenting a CAGR of 34.7%.
• Factors contributing to growth include data proliferation, fraud detection and prevention, enhanced customer service, automation leading to cost reductions, and competitive pressures.
What Is Driving The Growth In The AI in Banking Market?
The rising demand for mobile banking services is fueling the expansion of the AI in banking market. Mobile banking allows customers to conduct financial transactions with ease, at any time and from any location, thanks to convenient smartphone applications. As per data from E-commerce Tips, the total number of people using two or more forms of digital payments has grown from 51% in 2021 to 62% in 2022, highlighting the market’s growth potential. The increase in digital payments is a significant driver catapulting the adoption of AI in banking.
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Who Are the Key Players Driving AI in Banking Market Growth?
Driving the AI in banking market forward are key players including:
• Google LLC
• Intel Corporation
• Hewlett Packard Enterprise Development LP
• accenture* plc
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• SAP SE
• Infosys Limited
• Ally Financial Inc.
• Fair Isaac Corporation
• SAS Institute Inc.
What Are The Key Trends In The AI in Banking Market?
Several trends are shaping the trajectory of the AI in banking market:
• Voice and chatbot interfaces facilitating customer interaction.
• Predictive analytics driving personalized banking services.
• Utilization of AI for regulatory compliance.
• Blockchain integration enhancing security and transparency.
• Rise of robo-advisors in wealth management.
What Are The Segments Of The Global AI in Banking Market?
The AI in banking market gets segmented into:
• Component: Solution, Service
• Technology: Machine Learning And Deep Learning, Natural Language Processing (NLP), Computer Vision, Other Technologies
• Organization Size: Small And Medium Sized Banks, Large Overseas Banks
• Application: Risk Management Compliance And Security, Customer Service, Back Office or Operations, Financial Advisory, Other Applications
Which Region Leads The AI in Banking Market?
Asia-Pacific has been the largest region in the AI in banking market, and is projected to be the fastest-growing region in the upcoming years.
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What Is Covered In The AI in Banking Market Global Market Report?
• Market Size Analysis: Analyze the AI in Banking Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the AI in Banking Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall AI in Banking Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the AI in Banking Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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