North America Artificial Intelligence In Fintech Market to Grow by 16.1% Yearly Through 2028

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Aug 11, 2022, 07:45 ET

DUBLIN, Aug. 11, 2022 /PRNewswire/ -- The "North America Artificial Intelligence In Fintech Market Size, Share & Industry Trends Analysis Report By Component (Solutions and Services), By Deployment (On-premise and Cloud), By Application, By Country and Growth Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The North America Artificial Intelligence In Fintech Market is expected to 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.

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 is expected to accelerate in the coming years.

The US market dominated the North America Artificial Intelligence In Fintech Market by Country in 2021, and is expected to 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 is expected to showcase a CAGR of 17.7% during (2022-2028).

Scope of the Study
Market Segments Covered in the Report:
By Component

Solutions
Services

By Deployment

On-premise
Cloud

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

IBM Corporation
Oracle Corporation
Microsoft Corporation
Google LLC
Intel Corporation
Salesforce.com, Inc.
Amazon Web Services, Inc.
ComplyAdvantage
Amelia US LLC
Inbenta Technologies, Inc.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Competition Analysis - Global

Chapter 4. North America Artificial Intelligence In Fintech Market by Component

Chapter 5. North America Artificial Intelligence In Fintech Market by Deployment

Chapter 6. North America Artificial Intelligence In Fintech Market by Application

Chapter 7. North America Artificial Intelligence In Fintech Market by Country

Chapter 8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/4i54fv