Improved productivity of banks and faster banking operations using machine learning have boosted the growth of the global machine learning in banking market.
PORTLAND, Ore., Sept. 26, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Machine Learning in Banking Market By Component (Solution and Service), Enterprise Size (Large Enterprises, Small and Medium-Sized Enterprises [SMEs]), Application (Credit Scoring, Risk Management Compliance and Security, Payments and Transactions, Customer Service, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global machine learning in banking industry accounted for $1.33 billion in 2021, and is expected to reach $21.27 billion by 2031, growing at a CAGR of 32.2% from 2021 to 2030.
Download Sample Report (Get Full Insights in PDF – 270 Pages) @ https://www.alliedmarketresearch.com/request-sample/17643
Major determinants of the market growth
Improved productivity of banks and faster banking operations using machine learning have boosted the growth of the global machine learning in banking market. However, higher cost of implementation of machine learning technology and risk of unemployment with adoption of machine learning technology hinder the market growth. On the contrary, technological developments in machine learning would open new opportunities in the future.
Report Coverage and Details:
Report Coverage
Details
Forecast Period
2022–2031
Base Year
2021
Market Size in 2021
$1.33 billion
Market Size in 2031
$21.27 billion
CAGR
32.2 %
No. of Pages in Report
270
Segments covered
Component, Enterprise Size, Application, and Region
Drivers
Improved productivity of banks owing to adoption of ML
Effective risk assessment through machine learning in financial industry and efficient customer service
Opportunities
Technological advancements in ML technology
Restrains
High costs of implementation of ML technology
Risk of unemployment owing to adoption of ML
COVID-19 Scenario:
The COVID-19 pandemic had a positive impact on the market as most of the banks adopted technologies such as machine learning. These technologies helped the financial institutes by making credit repair and credit monitoring more accurate and faster.
Machine learning have helped banking sector leaders to deliver better results for customers and reduce credit frauds from process automation to biometric identification.
During the pandemic, several banks experienced surge in demand as working practices and customer banking habits changed drastically.
The solution segment dominated the market growth
By component, the solution segment held the largest share in 2021, accounting for nearly three-fourths of the global machine learning in banking market. Moreover, the segment is expected to continue its dominance in terms revenue throughout the forecast period. However, the service segment is expected to manifest the highest CAGR of 36.5% during the forecast period, due to Surge in demand for cloud-based machine learning services. Moreover, rise in demand for software-as-a-service (SaaS) due to its numerous benefits such as scalability and one-time customer acquisition cost is expected to provide lucrative opportunities for the growth of the market.
The small and medium-sized enterprises (SMEs) segment to manifest the highest CAGR through 2031
By enterprise size, the small and medium-sized enterprises (SMEs) segment is projected to register the highest CAGR of 35.6% during the forecast period, due to their less risk-taking capabilities. In addition, the segment is expected to hold the largest share by 2031. However, the large enterprises segment held the largest share in 2021, contributing to more than one-fourth of the global machine learning in banking market.
The credit scoring segment dominated the market
By application, the credit scoring segment held the largest share in 2021, accounting for more than one-fourth of the global machine learning in banking market. Furthermore, the segment is expected to maintain its dominance the largest share during the forecast period. However, the payments and transactions segment is anticipated to register the highest CAGR of 35.4% during the forecast period. Payment providers are well familiar with machine learning, as it pertains to credit card transaction monitoring, where learning algorithms play important roles in near real-time authorization of transactions. These are the major growth factors for the payments and transactions in the machine learning in banking market.
North America held the largest share
By region, the global machine learning in banking market across North America held the largest share in 2021, accounting for nearly two-fifths of the market. However, market across Asia-Pacific is expected to showcase the highest CAGR of 35.5% during the forecast period, owing to surge in need to monitor growing number of financial violations and offences. Moreover, the region is projected to hold the largest share throughout the forecast period.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/17643
Major Market Players
Affirm, Inc.
Amazon Web Services, Inc.
BigML, Inc.
Cisco Systems, Inc.
FICO
Google LLC
Mindtree Ltd.
Microsoft Corporation
SAP SE
SPD-Group
The report analyzes these key players of the global machine learning in banking market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of market segments, current trends, estimations, and dynamics of the machine learning in banking market share from 2021 to 2031 to identify the prevailing market opportunities.
In-depth analysis of the machine learning in banking market forecast segmentation assists to determine the prevailing machine learning in banking market opportunity.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global machine learning in banking market trends, key players, market segments, application areas, and market growth strategies.
Machine Learning in Banking Market Key Segments:
By Component:
Solution
Service
By Enterprise Size:
Large Enterprises
Small and Medium-Sized Enterprises (SMEs)
By Application:
Credit Scoring
Risk Management Compliance and Security
Payments and Transactions
Customer Service
Others
By Region:
North America (U.S., Canada, and Mexico)
Europe (Germany, Italy, France, Spain, U.K., Russia, and Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)
“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report titles for your reference, considering Impact of COVID-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market”.
Trending Reports in Semiconductor and Electronics Industry (Book Now with 10% Discount + COVID-19 Scenario):
AI in Banking Market By Component (Solution and Service), Enterprise Size (Large Enterprise and SMEs), Applications (Risk Management Compliance & Security, Customer Service, Back Office/Operations, Financial Advisory, and Others) and Technology (Machine Learning & Deep Learning, Natural Language Processing (NLP), Computer Vision, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Data Analytics in Banking Market By Component (Solution and Services), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises, and Small & Medium Sized Enterprises), Type (Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, and Others), Application (Fraud Detection & Prevention, Customer Management, Sales & Marketing, Workforce Management, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Hybrid Cloud in BFSI Market By Component (Solution and Services), Type (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS)), Enterprise Size (Large Enterprises, and Small & Medium Size Enterprises), and End User (Banking, NBFCs, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Predictive Analytics in Banking Market By Component (Solution and Service), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprise and SME), Application (Fraud Detection and Prevention, Customer Management, Sales and Marketing, Workforce Management and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
API Banking Market By Component (Solution [Application Programming Interface Platform, Application Programming Interface Analytics, and Application Programming Interface Security], and Service [Training & Education, Integration & Implementation, Support & Maintenance, and Consulting]), Organization Size (Small & Medium-Sized Enterprise, and Large Enterprise), and Deployment (Cloud-Based and On-Premise): Global Opportunity Analysis and Industry Forecast, 2022-2029
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports“ and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975 help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow Us on Research Blog: https://newsguards.com/
Follow Us on | Facebook | LinkedIn | YouTube |
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/machine-learning-in-banking-market-to-garner-21-27-billion-globally-by-2031-at-32-2-cagr-allied-market-research-301633215.html
SOURCE Allied Market Research
The CBOE Volatility Index has skyrocketed 89% so far this year. Morningstar put together a list of stocks with one- and three-year betas of 0.8 or lower. Then it screened for stocks that are undervalued, according to Morningstar analysts' fair value estimates.
(Bloomberg) — As crazy as it sounds, all the turmoil that’s ripped through Wall Street over the past week has still left debt markets in Corporate America relatively unscathed.Most Read from BloombergGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesPutin’s Mobilization Hits Russia’s Economy in Its Weak SpotsAlzheimer’s Progression Slowed by Drug in Major TrialUS Housing Prices Fall for First Time Since 2012Everything-Selloff on Wall Street Deepens on 98% Recession OddsThat’s bad news
Things are bad. But at least ‘you can eat’ one of these assets.
Anyone following stock market trends in 2022 will be well aware of the widespread drawbacks; apart from some outliers such as energy, most corners of the market have been beaten to a pulp. The main culprits are easily identified by now; a combination of a slowing economy, rampant inflation, rates hikes to halt it, and Russia’s invasion of Ukraine and the global implications are all responsible factors. Stock market giants have not been immune either and many have seen huge chunks of their valuat
The 86-year-old investing legend has spoken. Pay attention.
The stock could surge as optimism surrounds its deliveries report
The Federal Reserve will hike its key interest rate to a much higher peak than predicted two weeks ago and the risks are skewed towards an even higher terminal rate, according to economists polled by Reuters. That change in expectations came after the Fed raised rates by 75 basis points last week for the third straight meeting and foresaw going higher than it had previously thought to tame inflation, which is running over four times above target. Since then, already battered global stocks went much deeper into bear market territory – a decline of 20% or more – on fears of recession and most currencies weakened further against the multi-decade high dollar.
One side effect of rising interest rates is the recent slide in high-yielding dividend stocks. The market is pummeling some widely held names, causing their yields to climb. Here are the yields on a handful of widely held S&P 500 stocks as of the Sept.
It's been a rough year for the NASDAQ Composite Index (NASDAQINDEX: ^IXIC), plunging nearly 30% this year. Here are three stocks I'm looking at buying as their long-term opportunities are still intact while their share prices are well off their highs: Alphabet (NASDAQ: GOOG), MercadoLibre (NASDAQ: MELI), and CrowdStrike (NASDAQ: CRWD). Alphabet (formerly known as Google) is a huge conglomerate of businesses, but its primary focus is advertising.
The mortgage REIT completed a reverse split on Friday, so it's the first trading day post-split. A stock decline in this situation isn't odd at all.
In this article, we discuss 10 most shorted stocks in the world. If you want to see more stocks on this list, click 5 Most Shorted Stocks in the World. Short squeezes have rapidly gained popularity in the last two years, when retail investors on Reddit gathered to initiate bullish positions in stocks that were […]
Such has been the force of the cumulative headwinds in 2022 that trying to make headway in this year’s downtrending market has been a struggle for most. A slowing economy, decades-high inflation and the accompanying rate hikes in the attempt to tame it, not to mention Russia’s invasion of Ukraine and the impact on energy prices have all played their part in souring sentiment. The result has been widespread share losses. The good news is that those with a strong stomach could use the opportunity
Aon Partner of Portfolio Strategy Jas Thandi and Michael Kushma, Morgan Stanley Investment Management CIO of Broad Markets Fixed Income, examine the Fed's interest rate hikes, GDP outlook, and market sell-offs.
S&P 500 investors hate companies that lose money right now. So it's wise to know which companies are on the verge of losing obscene amounts so you don't end up holding the bag.
There's nothing like a bear market to remind S&P 500 investors how low stocks can go. And it's a surprisingly low number per share.
The effects of rising interest rates continue to hit markets and none more so than in the mortgage sector. The amount of selling lately, for example, in Annaly Capital Management Inc. (NYSE: NLY) is remarkable for its extraordinary downward pressure on price levels. Here’s the daily price chart, to show you how extreme this is: [Chart 1] The upper and lower bands represent two standard deviations from the mean price — the mean is the dotted line in between them. Technical analyst John Bollinger
The stock market woke up on the right side of the bed Tuesday, and shares of many companies pushed higher. Among those that gained notably were cruise lines, which have faced a number of headwinds as interest rates rose, fear of recession increased, and high oil prices further boosted their expenses. Shares of Carnival (NYSE: CCL) were up as much as 7.3% in early trading, Norwegian Cruise Line Holdings (NYSE: NCLH) was up by as much as 7.2%, and Royal Caribbean Cruises (NYSE: RCL) led the way, climbing 8.5%.
Not so long ago, in a galaxy not so far away, corporations thought they hit the jackpot. Not so long ago was 2021, and the galaxy in question was the United States of America. Institutions discovered a niche market that produced reliable, incredibly high yields. The market was real estate — single-family homes to be exact. They got a small taste early in 2020, taking advantage of some of the consequences families faced in the early stages of the pandemic. Institutions entered the rental market,
Big banks, Mind Medicine, and Lyft are among the top trending stocks on Yahoo Finance on Tuesday, September 27, 2022.
(Bloomberg) — The dollar soared after the White House talked down the prospect of a currency agreement to weaken the greenback, and equities extended declines after hawkish comments from Federal Reserve policymakers.Most Read from BloombergGermany Suspects Sabotage Hit Russia’s Nord Stream PipelinesAlzheimer’s Progression Slowed by Drug in Major TrialPutin’s Mobilization Hits Russia’s Economy in Its Weak SpotsApple Ditches iPhone Production Increase After Demand FaltersUS Housing Prices Fall fo