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PUBLISHER: KBV Research | PRODUCT CODE: 1484335
PUBLISHER: KBV Research | PRODUCT CODE: 1484335
LAMEA Artificial Intelligence in BFSI Market Size, Share & Trends Analysis Report By Offering (Software, Hardware, and Services), By Technology, By Solution, By Country and Growth Forecast, 2024 - 2031
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The Latin America, Middle East, and Africa Artificial Intelligence in BFSI Market would witness market growth of 34.7% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Artificial Intelligence in BFSI Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,447.6 million by 2031. The Argentina market is showcasing a CAGR of 35.5% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 34.3% during (2024 - 2031).
AI-driven predictive analytics models help BFSI institutions assess credit risk, detect fraudulent activities, and monitor compliance with regulatory requirements. AI algorithms are increasingly utilized in algorithmic trading, and investment decision-making. These algorithms analyze market trends, news sentiment, and macroeconomic indicators to generate trading signals and optimize investment strategies, enhancing portfolio performance and mitigating market risks.
The landscape of AI in BFSI is continually evolving, driven by emerging trends, technological innovations, and evolving customer demands. As AI systems become more sophisticated, there is a growing emphasis on explainability and transparency in AI decision-making processes. Explainable AI (XAI) techniques enable BFSI institutions to understand, interpret, and communicate the rationale behind AI-driven decisions, enhancing trust and accountability.
The rising banking sector in the UAE is driving increased adoption of AI technologies within the BFSI industry, enabling banks to enhance operational efficiency, improve risk management practices, and deliver more personalized services to their customers. According to data from the Government of UAE, at the end of the fourth quarter of 2021, the total assets of banks operating in the UAE increased by 2.3% (q-o-q), reaching AED 3,321.5 billion. During the period between December 2020 and December 2021, the total assets of banks operating in the UAE increased by 4.2% (y-o-y). Gross credit increased by 1.0% (q-o-q), reaching 1,794.0 billion at the end of December 2021. On an annual basis, gross credit increased by 0.8%. Therefore, the growing banking sector in LAMEA will assist in the growth of the regional market.
Based on Offering, the market is segmented into Software, Hardware, and Services. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Computer Vision, and Others. Based on Solution, the market is segmented into Chatbots, Fraud Detection & Prevention, Customer Relationship Management, Data Analytics & Prediction, Anti-Money Laundering, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- Microsoft Corporation
- IBM Corporation
- Palantir Technologies Inc.
- Salesforce, Inc.
- SAP SE
- Baidu, Inc.
- Google LLC (Alphabet Inc.)
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Oracle Corporation
- Intel Corporation
LAMEA Artificial Intelligence in BFSI Market Report Segmentation
By Offering
- Software
- Hardware
- Services
By Technology
- Machine Learning
- Natural Language Processing
- Computer Vision
- Others
By Solution
- Chatbots
- Fraud Detection & Prevention
- Customer Relationship Management
- Data Analytics & Prediction
- Anti-Money Laundering
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1LAMEA Artificial Intelligence in BFSI Market, by Offering
- 1.4.2LAMEA Artificial Intelligence in BFSI Market, by Technology
- 1.4.3LAMEA Artificial Intelligence in BFSI Market, by Solution
- 1.4.4LAMEA Artificial Intelligence in BFSI Market, by Country
- 1.5Methodology for the research
Chapter 2.Market at a Glance
- 2.1Key Highlights
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.1.1Overview
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
Chapter 4.Competition Analysis - Global
- 4.1KBV Cardinal Matrix
- 4.2Recent Industry Wide Strategic Developments
- 4.2.1Partnerships, Collaborations and Agreements
- 4.2.2Product Launches and Product Expansions
- 4.2.3Acquisition and Mergers
- 4.3Market Share Analysis, 2023
- 4.4Top Winning Strategies
- 4.4.1Key Leading Strategies: Percentage Distribution (2020-2024)
- 4.4.2Key Strategic Move: (Partnership, Collaborations and Agreements: 2021, Jun - 2024, Apr) Leading Players
- 4.5Porter's Five Forces Analysis
Chapter 5.LAMEA Artificial Intelligence in BFSI Market by Offering
- 5.1LAMEA Software Market by Country
- 5.2LAMEA Hardware Market by Country
- 5.3LAMEA Services Market by Country
Chapter 6.LAMEA Artificial Intelligence in BFSI Market by Technology
- 6.1LAMEA Machine Learning Market by Country
- 6.2LAMEA Natural Language Processing Market by Country
- 6.3LAMEA Computer Vision Market by Country
- 6.4LAMEA Others Market by Country
Chapter 7.LAMEA Artificial Intelligence in BFSI Market by Solution
- 7.1LAMEA Chatbots Market by Country
- 7.2LAMEA Fraud Detection & Prevention Market by Country
- 7.3LAMEA Customer Relationship Management Market by Country
- 7.4LAMEA Data Analytics & Prediction Market by Country
- 7.5LAMEA Anti-Money Laundering Market by Country
- 7.6LAMEA Others Market by Country
Chapter 8.LAMEA Artificial Intelligence in BFSI Market by Country
- 8.1Brazil Artificial Intelligence in BFSI Market
- 8.1.1Brazil Artificial Intelligence in BFSI Market by Offering
- 8.1.2Brazil Artificial Intelligence in BFSI Market by Technology
- 8.1.3Brazil Artificial Intelligence in BFSI Market by Solution
- 8.2Argentina Artificial Intelligence in BFSI Market
- 8.2.1Argentina Artificial Intelligence in BFSI Market by Offering
- 8.2.2Argentina Artificial Intelligence in BFSI Market by Technology
- 8.2.3Argentina Artificial Intelligence in BFSI Market by Solution
- 8.3UAE Artificial Intelligence in BFSI Market
- 8.3.1UAE Artificial Intelligence in BFSI Market by Offering
- 8.3.2UAE Artificial Intelligence in BFSI Market by Technology
- 8.3.3UAE Artificial Intelligence in BFSI Market by Solution
- 8.4Saudi Arabia Artificial Intelligence in BFSI Market
- 8.4.1Saudi Arabia Artificial Intelligence in BFSI Market by Offering
- 8.4.2Saudi Arabia Artificial Intelligence in BFSI Market by Technology
- 8.4.3Saudi Arabia Artificial Intelligence in BFSI Market by Solution
- 8.5South Africa Artificial Intelligence in BFSI Market
- 8.5.1South Africa Artificial Intelligence in BFSI Market by Offering
- 8.5.2South Africa Artificial Intelligence in BFSI Market by Technology
- 8.5.3South Africa Artificial Intelligence in BFSI Market by Solution
- 8.6Nigeria Artificial Intelligence in BFSI Market
- 8.6.1Nigeria Artificial Intelligence in BFSI Market by Offering
- 8.6.2Nigeria Artificial Intelligence in BFSI Market by Technology
- 8.6.3Nigeria Artificial Intelligence in BFSI Market by Solution
- 8.7Rest of LAMEA Artificial Intelligence in BFSI Market
- 8.7.1Rest of LAMEA Artificial Intelligence in BFSI Market by Offering
- 8.7.2Rest of LAMEA Artificial Intelligence in BFSI Market by Technology
- 8.7.3Rest of LAMEA Artificial Intelligence in BFSI Market by Solution
Chapter 9.Company Profiles
- 9.1Microsoft Corporation
- 9.1.1Company Overview
- 9.1.2Financial Analysis
- 9.1.3Segmental and Regional Analysis
- 9.1.4Research & Development Expenses
- 9.1.5Recent strategies and developments:
- 9.1.5.1Partnerships, Collaborations, and Agreements:
- 9.1.6SWOT Analysis
- 9.2IBM Corporation
- 9.2.1Company Overview
- 9.2.2Financial Analysis
- 9.2.3Regional & Segmental Analysis
- 9.2.4Research & Development Expenses
- 9.2.5Recent strategies and developments:
- 9.2.5.1Partnerships, Collaborations, and Agreements:
- 9.2.5.2Product Launches and Product Expansions:
- 9.2.5.3Acquisition and Mergers:
- 9.2.6SWOT Analysis
- 9.3Palantir Technologies Inc.
- 9.3.1Company Overview
- 9.3.2Financial Analysis
- 9.3.3Segmental and Regional Analysis
- 9.3.4Research & Development Expenses
- 9.3.5Recent strategies and developments:
- 9.3.5.1Partnerships, Collaborations, and Agreements:
- 9.3.6SWOT Analysis
- 9.4Salesforce, Inc.
- 9.4.1Company Overview
- 9.4.2Financial Analysis
- 9.4.3Regional Analysis
- 9.4.4Research & Development Expenses
- 9.4.5Recent strategies and developments:
- 9.4.5.1Partnerships, Collaborations, and Agreements:
- 9.4.5.2Product Launches and Product Expansions:
- 9.4.6SWOT Analysis
- 9.5SAP SE
- 9.5.1Company Overview
- 9.5.2Financial Analysis
- 9.5.3Regional Analysis
- 9.5.4Research & Development Expense
- 9.5.5Recent strategies and developments:
- 9.5.5.1Partnerships, Collaborations, and Agreements:
- 9.5.6SWOT Analysis
- 9.6Baidu, Inc.
- 9.6.1Company Overview
- 9.6.2Financial Analysis
- 9.6.3Segmental Analysis
- 9.6.4Research & Development Expenses
- 9.6.5SWOT Analysis
- 9.7Google LLC (Alphabet Inc.)
- 9.7.1Company Overview
- 9.7.2Financial Analysis
- 9.7.3Segmental and Regional Analysis
- 9.7.4Research & Development Expense
- 9.7.5Recent strategies and developments:
- 9.7.5.1Partnerships, Collaborations, and Agreements:
- 9.7.5.2Product Launches and Product Expansions:
- 9.7.6SWOT Analysis
- 9.8Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.8.1Company Overview
- 9.8.2Financial Analysis
- 9.8.3Segmental Analysis
- 9.8.4Recent strategies and developments:
- 9.8.4.1Partnerships, Collaborations, and Agreements:
- 9.8.5SWOT Analysis
- 9.9Oracle Corporation
- 9.9.1Company Overview
- 9.9.2Financial Analysis
- 9.9.3Segmental and Regional Analysis
- 9.9.4Research & Development Expense
- 9.9.5Recent strategies and developments:
- 9.9.5.1Partnerships, Collaborations, and Agreements:
- 9.9.5.2Product Launches and Product Expansions:
- 9.9.6SWOT Analysis
- 9.10.Intel Corporation
- 9.10.1Company Overview
- 9.10.2Financial Analysis
- 9.10.3Segmental and Regional Analysis
- 9.10.4Research & Development Expenses
- 9.11SWOT Analysis
LIST OF TABLES
- TABLE 1LAMEA Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 2LAMEA Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 3Partnerships, Collaborations and Agreements- Artificial Intelligence in BFSI Market
- TABLE 4Product Launches And Product Expansions- Artificial Intelligence in BFSI Market
- TABLE 5Acquisition and Mergers- Artificial Intelligence in BFSI Market
- TABLE 6LAMEA Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 7LAMEA Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 8LAMEA Software Market by Country, 2020 - 2023, USD Million
- TABLE 9LAMEA Software Market by Country, 2024 - 2031, USD Million
- TABLE 10LAMEA Hardware Market by Country, 2020 - 2023, USD Million
- TABLE 11LAMEA Hardware Market by Country, 2024 - 2031, USD Million
- TABLE 12LAMEA Services Market by Country, 2020 - 2023, USD Million
- TABLE 13LAMEA Services Market by Country, 2024 - 2031, USD Million
- TABLE 14LAMEA Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 15LAMEA Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 16LAMEA Machine Learning Market by Country, 2020 - 2023, USD Million
- TABLE 17LAMEA Machine Learning Market by Country, 2024 - 2031, USD Million
- TABLE 18LAMEA Natural Language Processing Market by Country, 2020 - 2023, USD Million
- TABLE 19LAMEA Natural Language Processing Market by Country, 2024 - 2031, USD Million
- TABLE 20LAMEA Computer Vision Market by Country, 2020 - 2023, USD Million
- TABLE 21LAMEA Computer Vision Market by Country, 2024 - 2031, USD Million
- TABLE 22LAMEA Others Market by Country, 2020 - 2023, USD Million
- TABLE 23LAMEA Others Market by Country, 2024 - 2031, USD Million
- TABLE 24LAMEA Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 25LAMEA Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 26LAMEA Chatbots Market by Country, 2020 - 2023, USD Million
- TABLE 27LAMEA Chatbots Market by Country, 2024 - 2031, USD Million
- TABLE 28LAMEA Fraud Detection & Prevention Market by Country, 2020 - 2023, USD Million
- TABLE 29LAMEA Fraud Detection & Prevention Market by Country, 2024 - 2031, USD Million
- TABLE 30LAMEA Customer Relationship Management Market by Country, 2020 - 2023, USD Million
- TABLE 31LAMEA Customer Relationship Management Market by Country, 2024 - 2031, USD Million
- TABLE 32LAMEA Data Analytics & Prediction Market by Country, 2020 - 2023, USD Million
- TABLE 33LAMEA Data Analytics & Prediction Market by Country, 2024 - 2031, USD Million
- TABLE 34LAMEA Anti-Money Laundering Market by Country, 2020 - 2023, USD Million
- TABLE 35LAMEA Anti-Money Laundering Market by Country, 2024 - 2031, USD Million
- TABLE 36LAMEA Others Market by Country, 2020 - 2023, USD Million
- TABLE 37LAMEA Others Market by Country, 2024 - 2031, USD Million
- TABLE 38LAMEA Artificial Intelligence in BFSI Market by Country, 2020 - 2023, USD Million
- TABLE 39LAMEA Artificial Intelligence in BFSI Market by Country, 2024 - 2031, USD Million
- TABLE 40Brazil Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 41Brazil Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 42Brazil Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 43Brazil Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 44Brazil Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 45Brazil Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 46Brazil Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 47Brazil Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 48Argentina Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 49Argentina Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 50Argentina Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 51Argentina Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 52Argentina Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 53Argentina Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 54Argentina Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 55Argentina Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 56UAE Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 57UAE Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 58UAE Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 59UAE Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 60UAE Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 61UAE Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 62UAE Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 63UAE Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 64Saudi Arabia Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 65Saudi Arabia Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 66Saudi Arabia Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 67Saudi Arabia Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 68Saudi Arabia Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 69Saudi Arabia Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 70Saudi Arabia Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 71Saudi Arabia Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 72South Africa Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 73South Africa Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 74South Africa Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 75South Africa Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 76South Africa Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 77South Africa Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 78South Africa Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 79South Africa Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 80Nigeria Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 81Nigeria Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 82Nigeria Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 83Nigeria Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 84Nigeria Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 85Nigeria Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 86Nigeria Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 87Nigeria Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 88Rest of LAMEA Artificial Intelligence in BFSI Market, 2020 - 2023, USD Million
- TABLE 89Rest of LAMEA Artificial Intelligence in BFSI Market, 2024 - 2031, USD Million
- TABLE 90Rest of LAMEA Artificial Intelligence in BFSI Market by Offering, 2020 - 2023, USD Million
- TABLE 91Rest of LAMEA Artificial Intelligence in BFSI Market by Offering, 2024 - 2031, USD Million
- TABLE 92Rest of LAMEA Artificial Intelligence in BFSI Market by Technology, 2020 - 2023, USD Million
- TABLE 93Rest of LAMEA Artificial Intelligence in BFSI Market by Technology, 2024 - 2031, USD Million
- TABLE 94Rest of LAMEA Artificial Intelligence in BFSI Market by Solution, 2020 - 2023, USD Million
- TABLE 95Rest of LAMEA Artificial Intelligence in BFSI Market by Solution, 2024 - 2031, USD Million
- TABLE 96Key Information - Microsoft Corporation
- TABLE 97Key Information - IBM Corporation
- TABLE 98Key Information - Palantir Technologies Inc.
- TABLE 99Key Information - Salesforce, Inc.
- TABLE 100Key Information - SAP SE
- TABLE 101Key Information - Baidu, Inc.
- TABLE 102Key Information - Google LLC
- TABLE 103Key Information - Amazon Web Services, Inc.
- TABLE 104Key Information - Oracle Corporation
- TABLE 105Key Information - Intel Corporation
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