NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The artificial intelligence (AI) market size in the BFSI sector is set to grow by $32.97 bn between 2021 and 2026, progressing at a CAGR of 36.68%. According to Technavio, the market is fragmented, and the degree of fragmentation will accelerate during the forecast period. As market growth over the next five years is expected to remain high, the competitive rivalry among market vendors will remain limited. To know more about the vendor landscape Read Sample PDF Report Before Purchasing.

The report identifies Alphabet Inc., Amazon.com Inc., Amelia US LLC, Baidu Inc, Glia Technologies Inc, Inbenta Technologies Inc., Intel Corp., International Business Machines Corp., Lexalytics Inc., Microsoft Corp., NVIDIA Corp., Oracle Corp., Palantir Technologies Inc., Salesforce Inc., ServiceNow Inc., Verint Systems Inc, ZestFinance Inc, and SAP SE are some of the major market participants. Although the Enhanced operational efficiency with AI will offer immense growth opportunities, the need for high data quality will challenge the growth of the 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.

Artificial Intelligence (AI) Market in BFSI Sector is segmented as below:

• End-user 
  • Banking
  • Investment And Securities Management
  • Insurance

The artificial intelligence (AI) market share growth in the BFSI sector by the banking segment will be significant during the forecast period. The use of cognitive technology, along with AI, helps banks to leverage digitalization and sustain competition with FinTech players. AI technologies are revolutionizing banking processes and the relationship between banks and customers. AI is expected to shape the future of the banking sector as it provides the power of advanced data analytics to fight against fraudulent transactions and improve compliance, all within seconds.

• Geography 
  • North America
  • APAC
  • Europe
  • Middle East And Africa
  • South America

48% of the market's growth will originate from North America during the forecast period. The early adoption and increasing investments in AI technologies by players such as IBM, Google, Microsoft, and AWS in the region will facilitate the artificial intelligence (AI) market growth in BFSI sector in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans. Our 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

We provide a detailed analysis of around 25 vendors operating in the Artificial Intelligence (AI) Market in BFSI Sector, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports on the Artificial Intelligence (AI) Market in BFSI Sector are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist artificial intelligence (AI) market in BFSI sector growth during the next five years
• Estimation of the artificial intelligence (AI) market in BFSI sector size 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 the artificial intelligence (AI) market in BFSI sector vendors.

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1 Executive Summary

• 1.1 Market overview
  • Exhibit 01: Executive Summary – Chart on Market Overview
  • Exhibit 02: Executive Summary – Data Table on Market Overview
  • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
  • Exhibit 04: Executive Summary – Chart on Market by Geography
  • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
  • Exhibit 06: Executive Summary – Chart on Incremental Growth
  • Exhibit 07: Executive Summary – Data Table on Incremental Growth
  • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
  • Exhibit 09: Parent market
  • Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
  • Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
  • Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
  • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
  • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
  • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
  • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
  • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
  • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
  • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
  • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
  • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
  • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
  • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments
  • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
  • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

• 5.2 Comparison by End-user
  • Exhibit 26: Chart on Comparison by End-user
  • Exhibit 27: Data Table on Comparison by End-user

• 5.3 Banking - Market size and forecast 2021-2026
  • Exhibit 28: Chart on Banking - Market size and forecast 2021-2026 ($ million)
  • Exhibit 29: Data Table on Banking - Market size and forecast 2021-2026 ($ million)
  • Exhibit 30: Chart on Banking - Year-over-year growth 2021-2026 (%)
  • Exhibit 31: Data Table on Banking - Year-over-year growth 2021-2026 (%)

• 5.4 Investment and securities management - Market size and forecast 2021-2026
  • Exhibit 32: Chart on Investment and securities management - Market size and forecast 2021-2026 ($ million)
  • Exhibit 33: Data Table on Investment and securities management - Market size and forecast 2021-2026 ($ million)
  • Exhibit 34: Chart on Investment and securities management - Year-over-year growth 2021-2026 (%)
  • Exhibit 35: Data Table on Investment and securities management - Year-over-year growth 2021-2026 (%)

• 5.5 Insurance - Market size and forecast 2021-2026
  • Exhibit 36: Chart on Insurance - Market size and forecast 2021-2026 ($ million)
  • Exhibit 37: Data Table on Insurance - Market size and forecast 2021-2026 ($ million)
  • Exhibit 38: Chart on Insurance - Year-over-year growth 2021-2026 (%)
  • Exhibit 39: Data Table on Insurance - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by End-user
  • Exhibit 40: Market opportunity by End-user ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
  • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
  • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
  • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
  • Exhibit 44: Chart on Geographic comparison
  • Exhibit 45: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
  • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
  • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
  • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
  • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 APAC - Market size and forecast 2021-2026
  • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
  • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
  • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
  • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
  • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
  • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
  • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
  • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026
  • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
  • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
  • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
  • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
  • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
  • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
  • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
  • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
  • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
  • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
  • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
  • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
  • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
  • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
  • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026
  • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
  • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
  • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
  • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 Canada - Market size and forecast 2021-2026
  • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
  • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
  • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
  • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.12 Japan - Market size and forecast 2021-2026
  • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
  • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
  • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
  • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
  • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
  • Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
  • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
  • Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
  • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
  • Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors
  • Exhibit 92: Matrix on vendor position and classification

• 10.3 Alphabet Inc.
  • Exhibit 93: Alphabet Inc. - Overview
  • Exhibit 94: Alphabet Inc. - Business segments
  • Exhibit 95: Alphabet Inc. - Key news
  • Exhibit 96: Alphabet Inc. - Key offerings
  • Exhibit 97: Alphabet Inc. - Segment focus

• 10.4 Amazon.com Inc.
  • Exhibit 98: Amazon.com Inc. - Overview
  • Exhibit 99: Amazon.com Inc. - Business segments
  • Exhibit 100: Amazon.com Inc. - Key news
  • Exhibit 101: Amazon.com Inc. - Key offerings
  • Exhibit 102: Amazon.com Inc. - Segment focus

• 10.5 Inbenta Technologies Inc.
  • Exhibit 103: Inbenta Technologies Inc. - Overview
  • Exhibit 104: Inbenta Technologies Inc. - Product / Service
  • Exhibit 105: Inbenta Technologies Inc. - Key offerings

• 10.6 Intel Corp.
  • Exhibit 106: Intel Corp. - Overview
  • Exhibit 107: Intel Corp. - Business segments
  • Exhibit 108: Intel Corp. - Key news
  • Exhibit 109: Intel Corp. - Key offerings
  • Exhibit 110: Intel Corp. - Segment focus

• 10.7 International Business Machines Corp.
  • Exhibit 111: International Business Machines Corp. - Overview
  • Exhibit 112: International Business Machines Corp. - Business segments
  • Exhibit 113: International Business Machines Corp. - Key offerings
  • Exhibit 114: International Business Machines Corp. - Segment focus

• 10.8 Microsoft Corp.
  • Exhibit 115: Microsoft Corp. - Overview
  • Exhibit 116: Microsoft Corp. - Business segments
  • Exhibit 117: Microsoft Corp. - Key news
  • Exhibit 118: Microsoft Corp. - Key offerings
  • Exhibit 119: Microsoft Corp. - Segment focus

• 10.9 NVIDIA Corp.
  • Exhibit 120: NVIDIA Corp. - Overview
  • Exhibit 121: NVIDIA Corp. - Business segments
  • Exhibit 122: NVIDIA Corp. - Key news
  • Exhibit 123: NVIDIA Corp. - Key offerings
  • Exhibit 124: NVIDIA Corp. - Segment focus

• 10.10 Oracle Corp.
  • Exhibit 125: Oracle Corp. - Overview
  • Exhibit 126: Oracle Corp. - Business segments
  • Exhibit 127: Oracle Corp. - Key news
  • Exhibit 128: Oracle Corp. - Key offerings
  • Exhibit 129: Oracle Corp. - Segment focus

• 10.11 SAP SE
  • Exhibit 130: SAP SE - Overview
  • Exhibit 131: SAP SE - Business segments
  • Exhibit 132: SAP SE - Key news
  • Exhibit 133: SAP SE - Key offerings
  • Exhibit 134: SAP SE - Segment focus

• 10.12 Verint Systems Inc
  • Exhibit 135: Verint Systems Inc - Overview
  • Exhibit 136: Verint Systems Inc - Product / Service
  • Exhibit 137: Verint Systems Inc - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
  • Exhibit 138: Inclusions checklist
  • Exhibit 139: Exclusions checklist

• 11.3 Currency conversion rates for US$
  • Exhibit 140: Currency conversion rates for US$

• 11.4 Research methodology
  • Exhibit 141: Research methodology
  • Exhibit 142: Validation techniques employed for market sizing
  • Exhibit 143: Information sources

• 11.5 List of abbreviations
  • Exhibit 144: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
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SOURCE Technavio