The North America Artificial Intelligence In Fintech Market would witness market growth of 16.1% CAGR during the forecast period (2022-2028).
Artificial intelligence has enhanced customer service, which is among the most visible sectors of FinTech. In addition, artificial intelligence has advanced to the point that chatbots, virtual assistants, and artificial intelligence interfaces can effectively engage with customers. The capacity to answer basic questions has a huge impact on front-office and help-desk expenditures.
Algorithmic trading analyses data using a pre-programmed sequence of commands, enabling faster decision-making than humans. This is accomplished using machine learning, which is among the most adaptable AI technologies. In the financial industry, artificial intelligence has a lot of potential. It can assist a firm in a variety of ways, including increasing efficiency, lowering expenses, and automating procedures.
North America is among the world's largest and leading AI markets. Owing to the strong economy, the existence of major AI software and system vendors, and joint investment by organizations for the growth and development of R&D operations, the regional market has also seen the highest adoption of AI in Fintech solutions. For example, the continued economic boom in the United States, according to Baker McKenzie, has drawn significant investment in the fintech sector. Payments and insurance technology remain dominant the fintech environment in the country.
Here are some of the AI investments that have been made. For example, Betterview, a US-based insuretech and AI firm, in June 2020, received an additional USD 7.5 million from Maiden Re, a Bermuda-based reinsurer, bringing its total funding to USD 17 million. The AI firm uses computer vision and artificial intelligence to collect and analyze photos of buildings and properties across the United States for usage in underwriting by the property insurance market.
Further, the region, especially the United States, is home to a considerable proportion of the millennial population. In terms of speed and personalization, millennials clearly prefer to complete chores through digital applications and services, which fintech companies are better at supplying than banks. The region has some of the highest levels of citizen bank account penetration and the highest number of ATMs per 100,000 people. Thus, due to these factors, the growth of the regional AI in fintech market would accelerate in the coming years.
The US market dominated the North America Artificial Intelligence In Fintech Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,444.2 Million by 2028. The Canada market is anticipated to grow at a CAGR of 18.7% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 17.7% during (2022 - 2028).
Based on Component, the market is segmented into Solutions and Services. Based on Deployment, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Business Analytics & Reporting, Customer Behavioral Analytics, Fraud Detection, Virtual Assistant (Chatbots), Quantitative & Asset Management and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Artificial Intelligence In Fintech Market is Predict to reach $25.8 Billion by 2028, at a CAGR of 16.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Microsoft Corporation, Google LLC, Intel Corporation, Salesforce.com, Inc., Amazon Web Services, Inc., ComplyAdvantage, Amelia US LLC, and Inbenta Technologies, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Deployment
By Application
- Business Analytics & Reporting
- Customer Behavioral Analytics
- Fraud Detection
- Virtual Assistant (Chatbots)
- Quantitative & Asset Management
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- Google LLC
- Intel Corporation
- Salesforce.com, Inc.
- Amazon Web Services, Inc.
- ComplyAdvantage
- Amelia US LLC
- Inbenta Technologies, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Artificial Intelligence In Fintech Market, by Component
1.4.2 North America Artificial Intelligence In Fintech Market, by Deployment
1.4.3 North America Artificial Intelligence In Fintech Market, by Application
1.4.4 North America Artificial Intelligence In Fintech Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.4.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2018, Nov – 2022, Jun) Leading Players
Chapter 4. North America Artificial Intelligence In Fintech Market by Component
4.1 North America Solutions Market by Country
4.2 North America Services Market by Country
Chapter 5. North America Artificial Intelligence In Fintech Market by Deployment
5.1 North America On-premise Market by Country
5.2 North America Cloud Market by Country
Chapter 6. North America Artificial Intelligence In Fintech Market by Application
6.1 North America Business Analytics & Reporting Market by Country
6.2 North America Customer Behavioral Analytics Market by Country
6.3 North America Fraud Detection Market by Country
6.4 North America Virtual Assistant (Chatbots) Market by Country
6.5 North America Quantitative & Asset Management Market by Country
6.6 North America Others Market by Country
Chapter 7. North America Artificial Intelligence In Fintech Market by Country
7.1 US Artificial Intelligence In Fintech Market
7.1.1 US Artificial Intelligence In Fintech Market by Component
7.1.2 US Artificial Intelligence In Fintech Market by Deployment
7.1.3 US Artificial Intelligence In Fintech Market by Application
7.2 Canada Artificial Intelligence In Fintech Market
7.2.1 Canada Artificial Intelligence In Fintech Market by Component
7.2.2 Canada Artificial Intelligence In Fintech Market by Deployment
7.2.3 Canada Artificial Intelligence In Fintech Market by Application
7.3 Mexico Artificial Intelligence In Fintech Market
7.3.1 Mexico Artificial Intelligence In Fintech Market by Component
7.3.2 Mexico Artificial Intelligence In Fintech Market by Deployment
7.3.3 Mexico Artificial Intelligence In Fintech Market by Application
7.4 Rest of North America Artificial Intelligence In Fintech Market
7.4.1 Rest of North America Artificial Intelligence In Fintech Market by Component
7.4.2 Rest of North America Artificial Intelligence In Fintech Market by Deployment
7.4.3 Rest of North America Artificial Intelligence In Fintech Market by Application
Chapter 8. Company Profiles
8.1 IBM Corporation
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Product Launches and Product Expansions:
8.1.5.3 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Oracle Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Acquisition and Mergers:
8.2.6 SWOT Analysis
8.3 Microsoft Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.3.5.2 Acquisition and Mergers:
8.3.6 SWOT Analysis
8.4 Google LLC
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.6 SWOT Analysis
8.5 Intel Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.5.5.2 Acquisition and Mergers:
8.5.6 SWOT Analysis
8.6 Salesforce.com, Inc.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Product Launches and Product Expansions:
8.6.6 SWOT Analysis
8.7 Amazon Web Services, Inc. (Amazon.com, Inc.)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Partnerships, Collaborations, and Agreements:
8.8 ComplyAdvantage
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.8.2.2 Product Launches and Product Expansions:
8.9 Amelia US LLC (IPSoft)
8.9.1 Company Overview
8.9.2 Recent strategies and developments:
8.9.2.1 Product Launches and Product Expansions:
8.10. Inbenta technologies, Inc.
8.10.1 Company Overview
TABLE 1 North America Artificial Intelligence In Fintech Market, 2018 - 2021, USD Million
TABLE 2 North America Artificial Intelligence In Fintech Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Artificial Intelligence In Fintech Market
TABLE 4 Product Launches And Product Expansions– Artificial Intelligence In Fintech Market
TABLE 5 Acquisition and Mergers– Artificial Intelligence In Fintech Market
TABLE 6 North America Artificial Intelligence In Fintech Market by Component, 2018 - 2021, USD Million
TABLE 7 North America Artificial Intelligence In Fintech Market by Component, 2022 - 2028, USD Million
TABLE 8 North America Solutions Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Solutions Market by Country, 2022 - 2028, USD Million
TABLE 10 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 11 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Artificial Intelligence In Fintech Market by Deployment, 2018 - 2021, USD Million
TABLE 13 North America Artificial Intelligence In Fintech Market by Deployment, 2022 - 2028, USD Million
TABLE 14 North America On-premise Market by Country, 2018 - 2021, USD Million
TABLE 15 North America On-premise Market by Country, 2022 - 2028, USD Million
TABLE 16 North America Cloud Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Cloud Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Artificial Intelligence In Fintech Market by Application, 2018 - 2021, USD Million
TABLE 19 North America Artificial Intelligence In Fintech Market by Application, 2022 - 2028, USD Million
TABLE 20 North America Business Analytics & Reporting Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Business Analytics & Reporting Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Customer Behavioural Analytics Market by Country, 2018 - 2021, USD Million
TABLE 23 North America Customer Behavioural Analytics Market by Country, 2022 - 2028, USD Million
TABLE 24 North America Fraud Detection Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Fraud Detection Market by Country, 2022 - 2028, USD Million
TABLE 26 North America Virtual Assistant (Chatbots) Market by Country, 2018 - 2021, USD Million
TABLE 27 North America Virtual Assistant (Chatbots) Market by Country, 2022 - 2028, USD Million
TABLE 28 North America Quantitative & Asset Management Market by Country, 2018 - 2021, USD Million
TABLE 29 North America Quantitative & Asset Management Market by Country, 2022 - 2028, USD Million
TABLE 30 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 31 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 32 North America Artificial Intelligence In Fintech Market by Country, 2018 - 2021, USD Million
TABLE 33 North America Artificial Intelligence In Fintech Market by Country, 2022 - 2028, USD Million
TABLE 34 US Artificial Intelligence In Fintech Market, 2018 - 2021, USD Million
TABLE 35 US Artificial Intelligence In Fintech Market, 2022 - 2028, USD Million
TABLE 36 US Artificial Intelligence In Fintech Market by Component, 2018 - 2021, USD Million
TABLE 37 US Artificial Intelligence In Fintech Market by Component, 2022 - 2028, USD Million
TABLE 38 US Artificial Intelligence In Fintech Market by Deployment, 2018 - 2021, USD Million
TABLE 39 US Artificial Intelligence In Fintech Market by Deployment, 2022 - 2028, USD Million
TABLE 40 US Artificial Intelligence In Fintech Market by Application, 2018 - 2021, USD Million
TABLE 41 US Artificial Intelligence In Fintech Market by Application, 2022 - 2028, USD Million
TABLE 42 Canada Artificial Intelligence In Fintech Market, 2018 - 2021, USD Million
TABLE 43 Canada Artificial Intelligence In Fintech Market, 2022 - 2028, USD Million
TABLE 44 Canada Artificial Intelligence In Fintech Market by Component, 2018 - 2021, USD Million
TABLE 45 Canada Artificial Intelligence In Fintech Market by Component, 2022 - 2028, USD Million
TABLE 46 Canada Artificial Intelligence In Fintech Market by Deployment, 2018 - 2021, USD Million
TABLE 47 Canada Artificial Intelligence In Fintech Market by Deployment, 2022 - 2028, USD Million
TABLE 48 Canada Artificial Intelligence In Fintech Market by Application, 2018 - 2021, USD Million
TABLE 49 Canada Artificial Intelligence In Fintech Market by Application, 2022 - 2028, USD Million
TABLE 50 Mexico Artificial Intelligence In Fintech Market, 2018 - 2021, USD Million
TABLE 51 Mexico Artificial Intelligence In Fintech Market, 2022 - 2028, USD Million
TABLE 52 Mexico Artificial Intelligence In Fintech Market by Component, 2018 - 2021, USD Million
TABLE 53 Mexico Artificial Intelligence In Fintech Market by Component, 2022 - 2028, USD Million
TABLE 54 Mexico Artificial Intelligence In Fintech Market by Deployment, 2018 - 2021, USD Million
TABLE 55 Mexico Artificial Intelligence In Fintech Market by Deployment, 2022 - 2028, USD Million
TABLE 56 Mexico Artificial Intelligence In Fintech Market by Application, 2018 - 2021, USD Million
TABLE 57 Mexico Artificial Intelligence In Fintech Market by Application, 2022 - 2028, USD Million
TABLE 58 Rest of North America Artificial Intelligence In Fintech Market, 2018 - 2021, USD Million
TABLE 59 Rest of North America Artificial Intelligence In Fintech Market, 2022 - 2028, USD Million
TABLE 60 Rest of North America Artificial Intelligence In Fintech Market by Component, 2018 - 2021, USD Million
TABLE 61 Rest of North America Artificial Intelligence In Fintech Market by Component, 2022 - 2028, USD Million
TABLE 62 Rest of North America Artificial Intelligence In Fintech Market by Deployment, 2018 - 2021, USD Million
TABLE 63 Rest of North America Artificial Intelligence In Fintech Market by Deployment, 2022 - 2028, USD Million
TABLE 64 Rest of North America Artificial Intelligence In Fintech Market by Application, 2018 - 2021, USD Million
TABLE 65 Rest of North America Artificial Intelligence In Fintech Market by Application, 2022 - 2028, USD Million
TABLE 66 Key information – IBM Corporation
TABLE 67 Key Information – Oracle Corporation
TABLE 68 key information – Microsoft Corporation
TABLE 69 Key Information – Google LLC
TABLE 70 Key Information – Intel Corporation
TABLE 71 Key Information –Salesforce.com, Inc.
TABLE 72 Key Information – AMAZON WEB SERVICES, INC.
TABLE 73 Key Information – ComplyAdvantage
TABLE 74 Key Information – Amelia US LLC
TABLE 75 Key Information – Inbenta Technologies, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 5 Key Strategic Move: (Partnerships, collaborations and agreements : 2018, nov – 2022, Jun) Leading Players
FIG 6 Recent strategies and developments: IBM Corporation
FIG 7 Swot analysis: IBM Corporation
FIG 8 Recent strategies and developments: Oracle Corporation
FIG 9 SWOT analysis: Oracle Corporation
FIG 10 Recent strategies and developments: Microsoft Corporation
FIG 11 SWOT Analysis: Microsoft Corporation
FIG 12 Recent strategies and developments: Google LLC
FIG 13 SWOT Analysis: Alphabet Inc. (Google Inc.)
FIG 14 Recent strategies and developments: Intel Corporation
FIG 15 SWOT analysis: Intel corporation
FIG 16 Recent strategies and developments: Salesforce.com, Inc.
FIG 17 SWOT Analysis: Salesforce.com Inc.
FIG 18 Recent strategies and developments: ComplyAdvantage