Artificial Intelligence (AI) in Banking Market is thriving worldwide by 2029

Artificial intelligence (AI) in banking market is anticipated to grow at a CAGR of 25.1% during the forecast period (2023-2030). The Rising digital transformation in finance sectors globally are the key factors factor global artificial intelligence (AI) in banking market. According to DBS bank, The world of banking has been transforming in the past few years owing to a technological revolution in the global banking sector. Today, almost all banks worldwide, including Indian banks have an online presence, thus catering to their customer’s needs. The demonetization of 2016 and the onset of Covid-19 pandemic played a significant role in making digitalization in banking more mainstream.

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The global artificial intelligence (AI) in banking market is segmented on the technology, Component, and application. Based on the technology, the market is sub-segmented into natural language processing (NLP), machine learning & deep learning, computer vision and others. Based on the Component, the market is sub-segmented into, software and services, and Hardware. based on application the market is sub-segmented into AI-Powered chatbot, mobile banking, customer service, risk management compliance & security, and others. Among the all the AI-Powered chatbot sub-segment is anticipated to hold a considerable share of the market which communicate with the customer to support. For instance, in July 2022, Glia launched virtual assistant (GVAs) to assist business.

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  • Market Coverage
  • Market number available for – 2023-2029
  • Base year- 2022
  • Forecast period- 2023-2029
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
  • , and others

Global Artificial Intelligence (AI) in Banking Market Report Segment

By Technology

  • Natural Language Processing (NLP)
  • Machine Learning & Deep Learning
  • Computer Vision
  • Others (Reinforcement Learning, Generative Adversarial Networks)

By Component

  • Software and Services
  • Hardware

By Application

  • AI-Powered chatbot
  • Mobile Banking
  • Customer Service
  • Risk Management Compliance & Security
  • Others (Financial advisory, back office and operations)

Global Artificial Intelligence (AI) in Banking Market Report Segment by Region

North America

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Italy
  • Spain
  • France
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific

Rest of the World

  • Latin America
  • Middle East & Africa

The Report Covers

  • Market value data analysis of 2022 and forecast to 2030.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global artificial intelligence (AI) in banking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

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