The global AI in fintech market size was US$ 7.87 billion in 2021. The global AI in fintech market is forecast to grow to US$ 41.1 billion by 2030, registering a compound annual growth rate (CAGR) of 22.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

AI in fintech solutions helps evaluate investment opportunities, optimize investment portfolios, and manage associated risks efficiently. Thus, it is driving the growth of global AI in fintech market.
The increasing awareness about the benefits of AI in fintech solutions will drive the industry forward during the forecast period.
The rising demand for process automation in financial institutions will propel the AI in fintech market forward. In addition, the market will grow due to the rising availability of data sources for proper AI deployment in financial solutions.
However, during the projected period, a shortage of expertise and experienced employees may limit the growth of the AI in fintech industry.
In addition, growing advancements and partnerships in the industry are forecast to accelerate the market growth during the study period.
MDOTM and Raiffeisen Capital Management inked a partnership in October 2019, aiming to deliver SRI investing options. As a result, it will benefit from AI technology's efficiency and the portfolio of companies. ?
Regional Analysis

North America is forecast to emerge as the largest AI in fintech market. The growth of the industry is attributed to the strong economy, the presence of prominent AI software and system vendors in the region. In addition, the joint investment by government and private organizations for the development and growth of R&D operations are likely to fuel the growth of the AI in Fintech solution market during the study period.

COVID-19 Impact Analysis

The COVID-19 epidemic has had a significant impact on AI's expansion in the fintech business. Because of the massive losses suffered by financial institutions as a result of the COVID-19 epidemic, the deployment of breakthrough technology such as AI was postponed for a significant time. As a result, a COVID-19 pandemic have had a negative impact on the AI in fintech business.

Market Segmentation

The global AI in fintech market segmentation focuses on Component, Deployment, Application, and Region.

Based on component, the AI in fintech market is segmented into

Solutions
Services
Based on deployment, the AI in fintech market is segmented into-

Cloud-based
On-Premises
Based on application, the AI in fintech market is segmented into-

Virtual Assistant
Business Analytics
Customer Behavioral Analytics
Others (Market Research, Advertising, and Marketing Campaign)
Based on Region, the AI in fintech market is segmented into-

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Competitors in the Market

Amazon Web Services, Inc.
ComplyAdvantage
Google LLC
IBM Corporation
Inbenta Technologies
Intel Corporation
IPsoft Inc.
Microsoft Corporation
Nuance Communications, Inc.
Salesforce.com, Inc.
Other Prominent Players