Cognitive Systems & Artificial Intelligence in BFSI Market – Global Drivers, Opportunities, Trends, and Forecasts to 2022

  • Report Code : INF497457
  • Published On: Apr, 2021
  • Category : Business & Finance
  • Pages : 83

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  • Artificial Intelligence and Cognitive Systems in BFSI– Global Drivers, Opportunities, Trends, and Forecasts to 2022

    Overview:

    Globally, BFSI is the second most customer data-centric industry, where players have a bundle of new business opportunities from Cognitive Systems and Artificial Intelligence (AI). It is an evolving data driven technology that works on on-premises and cloud-based software. The system replaces the human thought process with a simulated digital model that includes a self-learning system, which derives patterns by using data mining, speech recognition, and language processing techniques. The cognitive systems require AI platform to derive the complicated business issues.

    Globally, the growing demand for digital technology and changing customer demands have led the BFSI players to adopt cognitive systems and AI implementation in their operations to deal with ever-changing regulatory & compliance laws to face the market risk and understand both income tax & corporate tax laws in an efficient way. It is also showing a strong presence in analyzing consumer behavior patterns to bring new offerings and is finding new distribution channels for the financial institutions. Furthermore, IoT, cloud technology, edge computing, security related technology (blockchain), etc. are supporting the market growth.

    Market Analysis:

    According to Infoholic Research, the “Artificial Intelligence &Cognitive Systems and Artificial in BFSI” will witness a CAGR of 45.9% during the forecast period 2016–2022. The increasing usage of cloud-based solutions in the BFSI industry, rising demand for the data-driven solutions, increasing internet banking penetration, and scope of deriving market risk are fostering the market growth. The market is segmented into technologies, deployment types, verticals and regions.

    Deployment Mode & Technology Analysis:

    The market is segmented according to the deployment types offered by technology providers. There are two popular deployment types, namely on-premises and cloud-based services. At present, on-premises services are in high demand owing to its capability of delivering technological advancement to clients. Also, the demand for cloud-based services is expected to increase due to the rise in the number of medium-sized enterprises in financial services industry.

    Region Analysis:

    In terms of regions, the Americas is set to outperform for the market growth followed by Europe. The American Fintech ecosystem, changing customer expectations, government regulations, and the country’s technological advancement drive the innovation in AI technologies. Asia Pacific is expected to be the fastest growing market in the upcoming years. The US, the UK, Germany, China, Japan, Canada, and Singapore are few of the countries which are concentrating on developing AI technologies for the industrial and governmental use.

    Key players & Benefits

    Some of the leading companies included in the report are IBM, Synechron, Micro Strategy, Infosys, Next IT Corp., Rocket Fuel Inc., and others.

    The financial institutions create a competitive advantage with the use of these technologies. The leading global financial institutions are investing in AI space, and thus, BFSI is the most lucrative investment destination for cognitive systems and AI key stakeholders.

    The study covers and analyzes the “Artificial Intelligence and Cognitive Systems in BFSI”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

     

  • With tables and figures helping analyze worldwide Cognitive Systems & Artificial Intelligence in BFSI market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.


    1 Industry Outlook 11

    1.1 Industry Overview 11

    1.2 Industry Trends 11

    1.3 Pest Analysis 12


    2 Report Outline 14

    2.1 Report Scope 14

    2.2 Report Summary 15

    2.3 Research Methodology 16

    2.4 Report Assumptions 16


    3 Market Snapshot 17

    3.1 Total Addressable Market (TAM) 17

    3.2 Segmented Addressable Market (SAM) 17

    3.3 Related Markets 18


    4 Market Outlook 18

    4.1 Overview 18

    4.2 Market Trends 18

    4.3 Market Definitions 19

    4.4 Market Segmentations 20

    4.5 Porter 5 (Five) Forces 21


    5 Market Characteristics 22

    5.1 Evolution 22

    5.2 Market Dynamics 23

    5.2.1 Drivers 23
    5.2.1.1 Demand for the data driven solutions 23
    5.2.1.2 Increasing the usage in market risk and fraud detection 24
    5.2.1.3 Increasing usage of technologies in the BFSI Industry 24
    5.2.1.4 Increasing Digitalization of Banking services 24
    5.2.1.5 Dealing with complex financial compliance laws 24
    5.2.1.6 Demand technology driven customer services 24
    5.2.2 Restraints 25
    5.2.2.1 Government regulations 25
    5.2.2.2 Excessive cost of ownership 25
    5.2.3 Opportunities 25
    5.2.3.1 Understanding Human emotions 25
    5.2.3.2 Developing smarter robots 26
    5.2.4 DRO – Impact Analysis 27
    5.2.5 Future of AI 28

    6 Deployment Type: Market Size & Analysis 28

    6.1 Overview 28

    6.2 On Premises 29

    6.3 Cloud 30


    7 Technologies: Market Size & Analysis 32

    7.1 Overview 32

    7.2 Machine Learning 33

    7.3 Deep Learning 33

    7.4 Natural Language Processing 34

    7.5 Image processing and Video recognition 34


    8 Verticals: Market Size & Analysis 36

    8.1 Overview 36

    8.2 Banking 37

    8.2.1 Customer support 37
    8.2.2 Fraud Detection 37

    8.3 Financial Services 38

    8.3.1 Wealth Management and Personal Financial advisory 38
    8.3.2 Advisors in Stock Trading 39
    8.3.3 Credit risk management 39

    8.4 Insurance 39

    8.4.1 Underwriting 39
    8.4.2 Claims processing 39

    9 Regions: Market Size & Analysis 40

    9.1 Overview 40

    9.2 Americas 41

    9.2.1 US 42
    9.2.2 Canada 43
    9.2.3 Brazil 43
    9.2.4 Mexico 44

    9.3 Europe 44

    9.3.1 UK 45
    9.3.2 France 46
    9.3.3 Germany 46
    9.3.4 Italy 47

    9.4 Asia Pacific 47

    9.4.1 China 48
    9.4.2 Japan 49
    9.4.3 Singapore 49
    9.4.4 India 49
    9.4.5 South Korea 50

    9.5 Middle East & Africa 50


    10 Vendor Profiles 52

    10.1 IBM Corp. 52

    10.1.1 Overview 52
    10.1.2 Business unit 53
    10.1.3 Geographic revenue 54
    10.1.4 Recent Developments 55
    10.1.5 Business focus 55
    10.1.6 SWOT analysis 56
    10.1.7 Business strategies 57

    10.2 MicroStrategy Incorporated 58

    10.2.1 Overview 58
    10.2.2 Business units 58
    10.2.3 Geographic revenue 60
    10.2.4 Business focus 60
    10.2.5 SWOT Analysis 61
    10.2.6 Business Strategy 61

    10.3 Rocket Fuel 62

    10.3.1 Overview 62
    10.3.2 Business Units 63
    10.3.3 Geographic revenue 63
    10.3.4 Business Focus 63
    10.3.5 SWOT Analysis 64
    10.3.6 Business Strategy 64

    10.4 Infosys Limited 65

    10.4.1 Overview 65
    10.4.2 Business Units 66
    10.4.3 Geographic Revenue 66
    10.4.4 Business focus 67
    10.4.5 SWOT Analysis 67
    10.4.6 Business strategy 68

    10.5 Synechron 68

    10.5.1 Overview 68
    10.5.2 Business Units 69
    10.5.3 Geographic Revenue 69
    10.5.4 Business Focus 69
    10.5.5 SWOT Analysis 69
    10.5.6 Business Strategy 70

    10.6 Next IT Corp 70

    10.6.1 Overview 70
    10.6.2 Business Units 71
    10.6.3 Geographic Revenue 71
    10.6.4 Business Focus 71
    10.6.5 SWOT Analysis 71
    10.6.6 Business Strategy 72

    11 Companies to Watch for 73

    11.1 IPsoft Inc. 73

    11.1.1 Overview 73
    11.1.2 IPsoft Market 73
    11.1.3 Artificial Intelligence Offerings 73

    11.2 Brighterion, Inc. 74

    11.2.1 Overview 74
    11.2.2 Brighterion, Inc 74
    11.2.3 Artificial Intelligence Offerings 75

    11.3 Inbenta Technologies Inc. 75

    11.3.1 Overview 75
    11.3.2 Inbenta Technologies Market 76
    11.3.3 Artificial Intelligence Offerings 76

    11.4 Narrative Science 76

    11.4.1 Overview 76
    11.4.2 Narrative Science 77
    11.4.3 Artificial Intelligence Offerings 77

    11.5 Quandl Inc. 77

    11.5.1 Overview 77
    11.5.2 Quandl Market 78
    11.5.3 Artificial Intelligence Offerings 78

    11.6 AlphaSense, Inc. 79

    11.6.1 Overview 79
    11.6.2 AlphaSense Market 79
    11.6.3 Artificial Intelligence Offerings 80

    12 Competitive Landscape 80

    12.1 Competitor Comparison Analysis 80

    12.2 Market Landscape 81

    12.2.1 Mergers & Acquisitions (M&A) 81

    13 Expert’s Views 82
    Annexure 83
     Acronyms 83

    Tables
    TABLE 1 CS AND AI IN BFSI MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 ($BILLION) 29
    TABLE 2 CS AND AI IN BFSI MARKET GROWTH BY DEPLOYMENT TYPE, 2016-2022, Y-O-Y (%) 29
    TABLE 3 CS AND AI IN BFSI MARKET REVENUE BY TECHNOLOGIES, 2016-2022 ($BILLION) 32
    TABLE 4 CS AND AI IN BFSI MARKET REVENUE BY TECHNOLOGIES, 2016-2022 ($BILLION) 32
    TABLE 5 CS AND AI IN BFSI MARKET REVENUE BY VERTICALS, 2016-2022 ($BILLION) 36
    TABLE 6 CS & AI IN BFSI MARKET GROWTH BY VERTICALS, 2016-2022 ($BILLION) 36
    TABLE 7 CS & AI IN MARKET REVENUE BY REGIONS, 2016–2022 ($BILLION) 40
    TABLE 8 CS & AI IN MARKET GROWTH BY REGIONS, 2016–2022, Y-O-Y (%) 40
    TABLE 9 AMERICAS MARKET REVENUE BY COUNTRIES, 2016-2022, ($BILLION) 41
    TABLE 10 AMERICAS MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, ($BILLION) 41
    TABLE 11 EUROPE MARKET REVENUE BY COUNTRIES, 2016-2022, ($BILLION) 44
    TABLE 12 ASIA PACIFIC MARKET REVENUE BY COUNTRIES, 2016-2022, ($BILLION) 47
    TABLE 13 MEA MARKET REVENUE BY COUNTRIES, 2016-2022, ($BILLION) 51
    TABLE 14 MEA MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, ($BILLION) 51
    TABLE 15 IBM: RECENT DEVELOPMENTS 55
    TABLE 16 MERGER & ACQUISITION, 2014–2015 81

    Charts
    CHART 1 PEST ANALYSIS OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 12
    CHART 2 RESEARCH METHODOLOGY OF CS & AI IN BFSI MARKET 16
    CHART 3 COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE MARKET BY 2022 17
    CHART 4 COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE MARKET IN BFSI MARKET REVENUE, 2016-2022 ($BILLION) 17
    CHART 5 PORTERS 5 FORCES COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 21
    CHART 6 EVOLUTION OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 22
    CHART 7 DRO - IMPACT ANALYSIS OF COGNITIVE SYSTEMS AND AI IN BFSI 27
    CHART 8 ON PERMISES MARKET REVENUE, 2016-2022 ($ BILLION) 29
    CHART 9 CLOUD MARKET REVENUE, 2016-2022 ($BILLION) 30
    CHART 10 AI TECHNOLOGY_ BLOCK DIAGRAM 33
    CHART 11 FINANCAIL SERVICES APPLICAITONS 38
    CHART 12 EUROPE MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, ($BILLION) 45
    CHART 13 ASIA PACIFIC MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, ($BILLION) 48
    CHART 14 IBM CORP: OVERVIEW SNAPSHOT 52
    CHART 15 IBM: BUSINESS UNITS 53
    CHART 16 IBM: GEOGRAPHIC REVENUE 54
    CHART 17 IBM: SWOT ANALYSIS 56
    CHART 18 MICROSTRATEGY: OVERVIEW SNAPSHOT 58
    CHART 19 MICROSTRATEGY: BUISNESS UNITS 58
    CHART 20 MICROSTRATEGY : GEOGRAPHIC REVENUE 60
    CHART 21 MICROSTRAGEGY: SWOT ANALYSIS 61
    CHART 22 ROKCET FUEL: OVERVIEW SNAPSHOT 62
    CHART 23 ROCKETFUEL: GEOGRAPHIC REVENUE 63
    CHART 24 ROCKETFUEL: SWOT ANALYSIS 64
    CHART 25 INFOSYS: OVERVIEW SNAPSHOT 65
    CHART 26 INFOSYS: BUSINESS UNITS 66
    CHART 27 INFOSYS : GEOGRAPHIC REVENUE 66
    CHART 28 SWOT ANALYSIS 67
    CHART 29 SYNECHRON: OVERVIEW SNAPSHOT 69
    CHART 30 SYNECHRON: SWOT ANALYSIS 70
    CHART 31 IPSOFT MARKET 73
    CHART 32 BRIGHTERION: MARKET 74
    CHART 33 IBNETA TECHNOLOGIES MARKET 75
    CHART 34 NARRATIVE SCIENCE 77
    CHART 35 QUANDL MAREKT 78
    CHART 36 ALPHASENSE MARKET 79
    CHART 37 TECHNOLOGY ANALYSIS BY REGIONS 80

     

  • The Cognitive Systems & Artificial Intelligence in BFSI Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.

    Report Objectives / Segmentation Covered :
    By Companies / players:
    • IBM Corp.
    • MicroStrategy Incorporated
    • Rocket Fuel
    • Infosys Limited
    • Synechron
    • Next IT Corp
    • IPsoft Inc.
    • Brighterion
    • Inc.
    • Inbenta Technologies Inc.
    • Narrative Science
    • Quandl Inc.
    • AlphaSense
    • Inc.
    By Regions:
      By Type:
        By Application:
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        Research objectives

        Where will all these developments take the industry in the long

        To study and analyze the global Market consumption (value & volume) by key regions/countries, product type and application, history data from 2015 to 2019, and forecast to 2025.

        What are the future opportunities in the market?

        To understand the structure of Market by identifying its various subsegments.

        What are the major driving forces expected to impact the development of the market market across different regions?

        To analyze the market with respect to individual growth trends, future prospects, and their contribution to the total market.

        Which industry trends are likely to shape the future of the industry during the forecast period 2020-2025?

        To project the consumption of market submarkets, with respect to key regions.

        Who are the major driving forces expected to decide the fate of the industry worldwide.

        To strategically profile the key players and comprehensively analyze their growth strategies.

        What are the key barriers and threats believed to hinder the development of the industry?

        To analyze competitive developments such as expansions,agreements, new product launches, and acquisitions in the market.

        Who are the prominent market players making a mark in the market with their winning strategies?

        To share detailed information about the key factors influencing the growth of the market

        What will be the growth rate and the market size of the industry for the forecast period 2020-2025?

        Focuses on the key global market Vendors, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.

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