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

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


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

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



Executive Summary

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.

Table of Contents

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 ?nancial 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 (USD 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 (USD BILLION) 32

TABLE 4 CS AND AI IN BFSI MARKET REVENUE BY TECHNOLOGIES, 2016-2022 (USD BILLION) 32

TABLE 5 CS AND AI IN BFSI MARKET REVENUE BY VERTICALS, 2016-2022 (USD BILLION) 36

TABLE 6 CS & AI IN BFSI MARKET GROWTH BY VERTICALS, 2016-2022 (USD BILLION) 36

TABLE 7 CS & AI IN MARKET REVENUE BY REGIONS, 2016-2022 (USD 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, (USD BILLION) 41

TABLE 10 AMERICAS MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, (USD BILLION) 41

TABLE 11 EUROPE MARKET REVENUE BY COUNTRIES, 2016-2022, (USD BILLION) 44

TABLE 12 ASIA PACIFIC MARKET REVENUE BY COUNTRIES, 2016-2022, (USD BILLION) 47

TABLE 13 MEA MARKET REVENUE BY COUNTRIES, 2016-2022, (USD BILLION) 51

TABLE 14 MEA MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, (USD 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 (USD 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 (USD BILLION) 29

CHART 9 CLOUD MARKET REVENUE, 2016-2022 (USD 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, (USD BILLION) 45

CHART 13 ASIA PACIFIC MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022, (USD 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

 

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

 

CHART 1 PEST ANALYSIS OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 10

CHART 2 RESEARCH METHODOLOGY OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI MARKET 12

CHART 3 COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE MARKET BY 2022 14

CHART 4 COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE MARKET IN BFSI MARKET REVENUE, 2016-2022 (USD BILLION) 14

CHART 5 PORTER 5 FORCES OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 17

CHART 6 EVOLUTION OF COGNITIVE SYSTEMS & ARTIFICIAL INTELLIGENCE IN BFSI 17

CHART 7 MARKET DYNAMICS-DRIVERS, RESTRAINTS & OPPORTUNITIES 18

CHART 8 DRO-IMPACT ANALYSIS OF CS AND AI IN BFSI 21

CHART 9 ON-PREMISES MARKET REVENUE, 2016-2022 (USD BILLION) 24

CHART 10 CLOUD MARKET REVENUE, 2016-2022 (USD BILLION) 25

CHART 11 AI TECHNOLOGY-BLOCK DIAGRAM 26

CHART 12 FINANCIAL SERVICES APPLICATIONS 30

CHART 13 EUROPE MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 (USD BILLION) 38

CHART 14 ASIA PACIFIC MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 (USD BILLION) 41

CHART 15 IBM: OVERVIEW SNAPSHOT 46

CHART 16 IBM: BUSINESS UNITS 47

CHART 17 IBM: GEOGRAPHIC REVENUE 47

CHART 18 IBM: SWOT ANALYSIS 50

CHART 19 MICROSTRATEGY: OVERVIEW SNAPSHOT 51

CHART 20 MICROSTRATEGY: BUSINESS UNITS 52

CHART 21 MICROSTRATEGY: GEOGRAPHIC REVENUE 52

CHART 22 MICROSTRATEGY: SWOT ANALYSIS 54

CHART 23 ROCKET FUEL: OVERVIEW SNAPSHOT 55

CHART 24 ROCKET FUEL: GEOGRAPHIC REVENUE 56

CHART 25 ROCKET FUEL: SWOT ANALYSIS 56

CHART 26 INFOSYS: OVERVIEW SNAPSHOT 58

CHART 27 INFOSYS: BUSINESS UNITS 58

CHART 28 INFOSYS: GEOGRAPHIC REVENUE 59

CHART 29 INFOSYS: SWOT ANALYSIS 60

CHART 30 SYNECHRON: OVERVIEW SNAPSHOT 61

CHART 31 SYNECHRON: SWOT ANALYSIS 62

CHART 32 NEXT IT CORP.: OVERVIEW SNAPSHOT 63

CHART 33 NEXT IT CORP.: SWOT ANALYSIS 64

CHART 34 IPSOFT MARKET 65

CHART 35 BRIGHTERION MARKET 66

CHART 36 INBENTA TECHNOLOGIES MARKET 68

CHART 37 NARRATIVE SCIENCE MARKET 69

CHART 38 QUANDL MARKET 70

CHART 39 ALPHASENSE MARKET 71

CHART 40 TECHNOLOGY ANALYSIS BY REGIONS 72

Tables

 

TABLE 1 CS AND AI IN BFSI MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 (USD BILLION) 23

TABLE 2 CS AND AI IN BFSI MARKET GROWTH BY DEPLOYMENT TYPE, 2016-2022, Y-O-Y (%) 23

TABLE 3 CS AND AI IN BFSI MARKET REVENUE BY TECHNOLOGIES, 2016-2022 (USD BILLION) 25

TABLE 4 CS AND AI IN BFSI MARKET GROWTH BY TECHNOLOGIES, 2016-2022, Y-O-Y (%) 26

TABLE 5 CS AND AI IN BFSI MARKET REVENUE BY VERTICALS, 2016-2022 (USD BILLION) 28

TABLE 6 CS & AI IN BFSI MARKET GROWTH BY VERTICALS, 2016-2022, Y-O-Y (%) 29

TABLE 7 CS & AI IN BFSI MARKET REVENUE BY REGIONS, 2016-2022 (USD BILLION) 33

TABLE 8 CS & AI IN MARKET GROWTH BY REGIONS, 2016-2022, Y-O-Y (%) 33

TABLE 9 AMERICAS MARKET REVENUE BY COUNTRIES, 2016-2022 (USD BILLION) 34

TABLE 10 AMERICAS MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 (USD BILLION) 34

TABLE 11 EUROPE MARKET REVENUE BY COUNTRIES, 2016-2022 (USD BILLION) 37

TABLE 12 ASIA PACIFIC MARKET REVENUE BY COUNTRIES, 2016-2022 (USD BILLION) 41

TABLE 13 MEA MARKET REVENUE BY COUNTRIES, 2016-2022 (USD BILLION) 45

TABLE 14 MEA MARKET REVENUE BY DEPLOYMENT TYPE, 2016-2022 (USD BILLION) 45

TABLE 15 IBM: RECENT DEVELOPMENTS 48

TABLE 16 MERGER & ACQUISITION, 2014-2015 73

 

 

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.


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