PORTLAND, OREGON, UNITED STATES, January 31, 2022 /EINPresswire.com/ — Artificial intelligence in banks (AI in banking) is helping the financial industry to streamline and optimize processes ranging from credit decisions to quantitative trading and financial risk management. In addition, it provides solutions to process automation to replace routine manual work in most cases.
Allied Market Research published latest report, titled, “AI in Banking Market by Component (Solution and Service), Enterprise Size (Large Enterprise and SMEs), Applications (Risk Management Compliance & Security, Customer Service, Back Office/Operations, Financial Advisory and Others) and Technology (Machine Learning & Deep Learning, Natural Language Processing (NLP), Computer Vision and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” the global AI in banking industry size was valued at $3.88 billion in 2020, and is projected to reach $64.03 billion by 2030, growing at a CAGR of 32.6% from 2021 to 2030.
The report highlights numerous factors that influence the growth of the global AI in Banking Market such as market demand & forecast and qualitative and quantitative information. The qualitative data of market report includes pricing analysis, key regulations, macroeconomic factors, microeconomic factors, key impacting factors, company share analysis, market dynamics & challenges, strategic growth initiatives, and competition intelligence.
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The study cracks market demand in 15+ high-growth markets in the regions. Region wise, the global AI in Banking Market has been studied across North America, Asia-Pacific, Europe, and LAMEA.
In term of quantitative analysis, AMR offers market sizing in terms value. Furthermore, the study covers market forecast till 2030 along with its compound annual growth rate at segment and country level. Along with this, key market trends and Y-O-Y are covered under the same section/analysis.
Key Players of AI in Banking Market – Analysis:
The major players profiled in the AI in Banking Market report include, Amazon Web Services Inc., BigML, Inc, Cisco Systems, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Microsoft Corporation, RapidMiner, Inc., SAP SE and SAS Institute Inc.
Top winning strategies are analyzed by performing a thorough study of the leading players in the global AI in Banking Market. Comprehensive analysis of recent developments and growth curves of various companies help to understand the growth strategies adopted by them and their potential effect on the market. The analysis indicates the performance potential of a firm in the market with respect to its competitors. Every company follows its own business strategy to attain the maximum market share. The companies were evaluated depending on annual reports, SEC filings, and press releases.
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COVID-19 Impact Analysis
The eruption of the COVID-19 pandemic is projected to have a huge impact on the economic and social development. Therefore, the report portrays micro- and macro-economic analyses. The report further provides a qualitative analysis of impact of COVID-19 on the AI in Banking Market. Moreover, the study emphasizes on the market size and share, which will reflect the impact that COVID-19 has had on the AI in Banking Market in 2022 and is likely to have in the subsequent years. In addition, the report outlines the key strategies adopted by key players during the global health crisis. Moreover, it provides a framework on the impact of COVID-19 on the supply chain. Moreover, the roll-out of vaccines and decline in chance of infection are expected to influence the AI in Banking Market growth. Therefore, the report provides post COVID-19 impact analysis.
Segmental of AI in Banking and Competition Dashboard
In the segmental analysis chapter, the report provides key trends, dynamics, qualitative and quantitative information related to each product segment. The report segments the global AI in Banking Market based on financial services, distribution channel.
This analysis will be covered at regional and country level for current and estimated years, i.e., 2022–2030.
Competition dashboard offers key information related to market structure and market share analysis for top players. Along with this, company profiles will be covered under same section, which includes company description, financial analysis, and key developments. The report further features these companies in the competitive landscape chapter, which covers product/service mapping of top players, competitive dashboard, competitive heat map, and key developments between forecast period.
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Key Data Points Included in AI in Banking Market Report
• The AI in Banking Market analysis covers detailed information pertaining to industry and major industry participants.
• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• Major countries have been mapped according to their individual revenue contribution to the regional market.
• The report outlines the current market trends and future scenario of the global AI in Banking Market to understand the prevailing opportunities and potential investment pockets.
• The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of AMR, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
AI in banking image by Geralt on Pixabay