Richmond, Nov. 22, 2023 (GLOBE NEWSWIRE) -- According to a research report "AI in Asset Management Market, by Technology (Machine Learning, Natural Language Processing (NLP)), Deployment Mode (On-premise, Cloud) Application (Portfolio Optimization, Conversational Platform, Risk & Compliance, Data Analysis, Process Automation, Others), End-use (BFSI, Retail & E-commerce, Healthcare, Energy & Utilities , Others)and Region.
Global AI in Asset Management Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 2.6 Billion |
| Market size value in 2030 | USD 11.9 Billion |
| CAGR (2023-2030) | 24.4% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Technology, Deployment Mode, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on AI in Asset Management Market
173 - Market Data Tables
66 - List of Figures
230 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
AI in Asset Management, Artificial intelligence is being seamlessly integrated into asset and wealth management to enhance operational efficiency, customer experience, and investment processes. In the realm of operational efficiency, AI plays a crucial role in monitoring, quality checking, and handling exceptions related to the vast amount of data on financial instruments. Improving data quality is paramount, reducing operational risks and contributing to client retention. Advanced AI techniques like machine learning and deep learning are applied to process information extensively, providing valuable insights for investment decision-making. Amid the novel COVID-19 pandemic, substantial shifts and deployments of devices and equipment have occurred, with a vast number of employees transitioning to work-from-home (WFH) environments. Managing the procurement, deployment, and maintenance of hardware assets in this context has become notably complex. However, businesses embracing artificial intelligence during this challenging period can turn it into an opportunity. AI can aid companies in generating actionable insights for connected devices and implementing smart asset management techniques, thereby reducing costs.
Major vendors in the Global AI in Asset Management Market:
- Amazon Web Services Inc.
- BlackRock Inc.
- CapitalG
- Charles Schwab & Co. Inc.
- Genpact
- Infosys Limited
- International Business Machines Corporation
- IPsoft Inc.
- Lexalytics
- Microsoft
- TABLEAU SOFTWARE, LLC
- Next IT Corp.
- S&P Global
- Salesforce Inc.
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High investments by enterprises in AI services
Enterprises are making high investments in AI services, reflecting the recognition of AI's transformative power in asset management. Increased investment signifies a commitment to leveraging AI technologies for data-driven insights, predictive analytics, and enhanced decision-making. Enterprises across diverse sectors are allocating significant resources to deploy and integrate AI solutions into their asset management practices, aiming to gain a competitive edge, streamline operations, and achieve better returns on investments. This investment trend underscores the growing acknowledgment of AI as a strategic enabler in modern asset management practices.
Market Dynamics
Drivers:
- Growing adoption of cloud-based artificial intelligence services in asset management
- The growing importance of asset tracking in BFSI sector
- Strong government initiatives to promote AI-based infrastructure
- High investments by enterprises in AI services
Opportunities:
- The development of personalized and customer-centric services
- AI-driven automation provides an opportunity to streamline operational processes in asset management.
AI solutions AI-driven automation provides an opportunity to streamline operational processes in asset management
The development of personalized and customer-centric services is a significant opportunity facilitated by AI in asset management. AI technologies enable the creation of tailored investment solutions based on individual client profiles, preferences, and financial goals. This personalized approach enhances the client experience, fostering client satisfaction and loyalty. Asset management firms can utilize AI-driven insights to offer bespoke investment recommendations, risk management strategies, and transparent communication, thereby attracting and retaining clients in a competitive market landscape. This customer-centric approach positions AI as a transformative force in reshaping how asset management services are delivered and perceived by clients.
The market for AI in Asset Management is dominated by North America.
In 2022, North America asserted its dominance in the market, commanding highest revenue share. This can be attributed to supportive government initiatives aimed at promoting the widespread adoption of AI technologies across various industries. Numerous asset management firms in North America have already initiated the integration of AI into their operations, a trend projected to persist as the manifold benefits become more universally acknowledged. These advantages encompass process automation, the incorporation of machine learning algorithms for enhanced decision-making, and the utilization of natural language processing to elevate customer engagement.
The Asia Pacific region is poised to undergo substantial growth in the AI in Asset Management market, primarily due to the escalating investments in AI technologies within the asset management sector. A notable example is the March 2023 agreement where Accenture PLC committed to acquiring Flutura, an AI solutions company based in Bangalore. This strategic acquisition aims to fortify Accenture PLC’s industrial AI services, enhancing the efficiency of refineries, plants, and supply chains, and facilitating customers in achieving their net-zero goals more expeditiously.
The Machine Learning segment is anticipated to hold the largest market share during the forecast period
Based on technology market is divide into machine learning and natural language processing (NLP). The machine learning segment took the lead in the market, contributing to highest global revenue in 2022. This substantial share can be attributed to the escalating adoption of process automation in manufacturing industries. Machine learning (ML) represents a natural progression in technology, enabling machines to sift through extensive datasets, identify patterns, and extract information effectively. In asset management systems, ML is harnessed to elevate the accuracy and efficiency of operational workflows, enhance the customer experience, and optimize overall system performance. A noteworthy example is the announcement made by EagleView Technologies, Inc. in February 2023, introducing new asset management solutions. By integrating machine learning with high-resolution aerial imagery, the company aims to address various asset management challenges faced by commercial organizations and local governments.
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