AI in BFSI Market to Reach $20,017.9 Million by 2024, Growing at 37.2% CAGR: P&S Intelligence

NEW YORK, July 23, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, The AI in BFSI market is expected to reach $20,017.9 million by 2024, registering a CAGR of 37.2% during the forecast period. Growing IT industry, increasing mobile internet penetration, shift from traditional banking toward digital banking, and rising number of investments by banks in AI, are the factors contributing to the growth of the market, globally.

Request to get the sample pages of the report:

On the basis of solution, the global AI in BFSI market is segmented into chatbot, customer behavior tracking, CRM, fraud detection, data analytics & visualization, and others, wherein ‘others’ include recommendation engine and visual search. Of these, the chatbots category holds the largest revenue share in 2018. This is primarily due to increasing demand for personalized service among customers in banks, financial institutions and thereby supporting in improving customer experience. Moreover, chatbot act as a personal finance assistant and support customers at each stage of banking. 

Based on technology, NLP is projected to witness fastest growth during the forecast period. This could be attributed to the growing utilization for NLP in back office operations and text-mining. Further, NLP supports in discovering customer behavior by monitoring social media and analyzing conversations about the organization’s services delivered to a customer. Hence, rising use of machine learning and NLP for enhancing customer service and predicting human behavior is driving the growth of AI in BFSI market.

Browse report overview with 93 tables and 71 figures spread through 171 pages and detailed TOC on "AI in BFSI Market” at:

North America was the largest revenue generating region in the AI in BFSI market in 2018. The major factors driving the market growth include increasing number of investments in AI and fintech sector by banks, and financial institutions. Moreover, advanced IT infrastructure, and early adoption of technology are also contributing in the expansion of AI in BFSI market. AI-based technologies such as machine learning, NLP, fraud detection & analytics enable banks to offer personalized user experiences and better understand customer behavior. 

AI in BFSI is an emerging market; where the AI technology is expected to witness rapid adoption, especially in U.S., Germany, U.K., and various developing countries such as China and India, by the year 2030. Presently, Top companies like IBM Corporation, Inc., Oracle Corporation, and Microsoft Corporation, are estimated to hold major market share, thereby, consolidating the market.

Make enquiry before buying the report:

Some of the key players in the market include IBM Corporation, Microsoft Corporation, Google Inc., Inbenta Technologies Inc., Intel Corporation, Lexalytics Inc., Inc., Oracle Corporation, SAP SE, and Amazon Web Services Inc.

More Related Reports by P&S Intelligence

AI in Retail Market
North America was the largest revenue generating region in the AI in retail market in 2018. The major factors driving the market growth include high internet and smartphone penetration and the factor of greater convenience associated with online shopping have led to the growth of the e-commerce industry in the region, which, in turn, has contributed to the growth of the AI in retail market.

AI in Transportation Market

The growth of the market is majorly driven by the development of autonomous vehicles and increasing focus towards reducing the operating cost of transportation. The global AI in transportation market is categorized into hardware and software. Of these, the software category is estimated to account for a larger share in the global market, driven by the increasing use of software as a platform (such as the Microsoft Azure) in HMI applications.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.


P&S Intelligence

Toll-free: +1-888-778-7886 (USA/Canada)

International: +1-347-960-6455



Connect with us: LinkedIn | Twitter | Facebook

Our Blogs:,