PUBLISHER: KBV Research | PRODUCT CODE: 1593715
PUBLISHER: KBV Research | PRODUCT CODE: 1593715
LAMEA Generative AI in BFSI Market Size, Share & Trends Analysis Report By End-User (Banks, Insurance Companies, and Financial Service Providers), By Application, By Country and Growth Forecast, 2024 - 2031
The Latin America, Middle East and Africa Generative AI in BFSI Market would witness market growth of 34.7% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Other Application Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $29.2 Million by 2031. The Argentina market is capturing a CAGR of 36.4% during (2024 - 2031). Additionally, The UAE market would witness a CAGR of 34.2% during (2024 - 2031).
The BFSI sector has adopted generative AI as a critical instrument for data-driven decision-making, allowing financial institutions to analyze intricate, large-scale datasets in order to uncover valuable insights. This capability allows firms to make informed and strategic choices, improving their competitive advantage and operational efficiency. For instance, JPMorgan Chase uses AI to analyze trading data and market trends in real-time, allowing it to swiftly adjust asset allocations and optimize client portfolios. Similarly, Allianz leverages AI to assess customer data and economic indicators, refining its insurance offerings based on dynamic risk factors and enhancing product competitiveness and personalization.
Customer service and compliance also benefit from AI-driven data analysis. Bank of America's AI platform, Erica, analyzes customer spending patterns and account activities, offering tailored budgeting and saving advice to clients, which supports financial health and personalizes the banking experience. Meanwhile, HSBC uses AI for risk assessment and regulatory compliance by processing transaction records to identify potential compliance issues efficiently. These examples from JPMorgan, Allianz, Bank of America, and HSBC illustrate how generative AI revolutionizes the BFSI sector by supporting strategic, data-driven decision-making and enabling institutions to effectively meet customer needs.
Brazil is at the forefront of generative AI adoption in the BFSI sector in Latin America. Financial institutions, including Banco Bradesco and Itau Unibanco, leverage AI to boost customer engagement, automate routine banking processes, and improve credit risk analysis. The Central Bank of Brazil has introduced Open Banking regulations, facilitating data sharing that enables AI-driven financial products. Brazil's focus on digital transformation and the government's supportive fintech policies are accelerating AI integration across its financial sector, catering to a growing base of digital-first consumers. Therefore, with ongoing regulatory support and technological advancements, the LAMEA region holds considerable potential for further growth in generative AI applications within financial services.
Based on End-User, the market is segmented into Banks, Insurance Companies, and Financial Service Providers. Based on Application, the market is segmented into Fraud Detection, Risk Assessment, Customer Experience, Algorithmic Trading, and Other Application. 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
- Accenture PLC
- SAS Institute Inc.
- Google LLC
- Salesforce, Inc.
- Microsoft Corporation
- Adobe, Inc.
- OpenAI, LLC
- IBM Corporation
- NVIDIA Corporation
- Intel Corporation
LAMEA Generative AI in BFSI Market Report Segmentation
By End-User
- Banks
- Insurance Companies
- Financial Service Providers
By Application
- Fraud Detection
- Risk Assessment
- Customer Experience
- Algorithmic Trading
- Other Application
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 LAMEA Generative AI in BFSI Market, by End-User
- 1.4.2 LAMEA Generative AI in BFSI Market, by Application
- 1.4.3 LAMEA Generative AI in BFSI Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2023
- 4.2 Strategies Deployed in Generative AI in BFSI Market
- 4.3 Porter Five Forces Analysis
Chapter 5. LAMEA Generative AI in BFSI Market by End-User
- 5.1 LAMEA Banks Market by Country
- 5.2 LAMEA Insurance Companies Market by Country
- 5.3 LAMEA Financial Service Providers Market by Country
Chapter 6. LAMEA Generative AI in BFSI Market by Application
- 6.1 LAMEA Fraud Detection Market by Country
- 6.2 LAMEA Risk Assessment Market by Country
- 6.3 LAMEA Customer Experience Market by Country
- 6.4 LAMEA Algorithmic Trading Market by Country
- 6.5 LAMEA Other Application Market by Country
Chapter 7. LAMEA Generative AI in BFSI Market by Country
- 7.1 Brazil Generative AI in BFSI Market
- 7.1.1 Brazil Generative AI in BFSI Market by End-User
- 7.1.2 Brazil Generative AI in BFSI Market by Application
- 7.2 Argentina Generative AI in BFSI Market
- 7.2.1 Argentina Generative AI in BFSI Market by End-User
- 7.2.2 Argentina Generative AI in BFSI Market by Application
- 7.3 UAE Generative AI in BFSI Market
- 7.3.1 UAE Generative AI in BFSI Market by End-User
- 7.3.2 UAE Generative AI in BFSI Market by Application
- 7.4 Saudi Arabia Generative AI in BFSI Market
- 7.4.1 Saudi Arabia Generative AI in BFSI Market by End-User
- 7.4.2 Saudi Arabia Generative AI in BFSI Market by Application
- 7.5 South Africa Generative AI in BFSI Market
- 7.5.1 South Africa Generative AI in BFSI Market by End-User
- 7.5.2 South Africa Generative AI in BFSI Market by Application
- 7.6 Nigeria Generative AI in BFSI Market
- 7.6.1 Nigeria Generative AI in BFSI Market by End-User
- 7.6.2 Nigeria Generative AI in BFSI Market by Application
- 7.7 Rest of LAMEA Generative AI in BFSI Market
- 7.7.1 Rest of LAMEA Generative AI in BFSI Market by End-User
- 7.7.2 Rest of LAMEA Generative AI in BFSI Market by Application
Chapter 8. Company Profiles
- 8.1 Accenture PLC
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.6 SWOT Analysis
- 8.2 SAS Institute, Inc.
- 8.2.1 Company Overview
- 8.2.2 SWOT Analysis
- 8.3 Google LLC (Alphabet Inc.)
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.6 SWOT Analysis
- 8.4 Salesforce, Inc.
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Regional Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 SWOT Analysis
- 8.5 Microsoft Corporation
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Segmental and Regional Analysis
- 8.5.4 Research & Development Expenses
- 8.5.5 Recent strategies and developments:
- 8.5.5.1 Product Launches and Product Expansions:
- 8.5.6 SWOT Analysis
- 8.6 Adobe, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expense
- 8.6.5 SWOT Analysis
- 8.7 OpenAI, L.L.C.
- 8.7.1 Company Overview
- 8.7.2 SWOT Analysis
- 8.8 IBM Corporation
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Regional & Segmental Analysis
- 8.8.4 Research & Development Expenses
- 8.8.5 SWOT Analysis
- 8.9 NVIDIA Corporation
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expenses
- 8.9.5 SWOT Analysis
- 8.10. Intel Corporation
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Segmental and Regional Analysis
- 8.10.4 Research & Development Expenses
- 8.10.5 SWOT Analysis
LIST OF TABLES
- TABLE 1 LAMEA Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 2 LAMEA Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 3 LAMEA Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 4 LAMEA Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 5 LAMEA Banks Market by Country, 2020 - 2023, USD Million
- TABLE 6 LAMEA Banks Market by Country, 2024 - 2031, USD Million
- TABLE 7 LAMEA Insurance Companies Market by Country, 2020 - 2023, USD Million
- TABLE 8 LAMEA Insurance Companies Market by Country, 2024 - 2031, USD Million
- TABLE 9 LAMEA Financial Service Providers Market by Country, 2020 - 2023, USD Million
- TABLE 10 LAMEA Financial Service Providers Market by Country, 2024 - 2031, USD Million
- TABLE 11 LAMEA Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 12 LAMEA Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 13 LAMEA Fraud Detection Market by Country, 2020 - 2023, USD Million
- TABLE 14 LAMEA Fraud Detection Market by Country, 2024 - 2031, USD Million
- TABLE 15 LAMEA Risk Assessment Market by Country, 2020 - 2023, USD Million
- TABLE 16 LAMEA Risk Assessment Market by Country, 2024 - 2031, USD Million
- TABLE 17 LAMEA Customer Experience Market by Country, 2020 - 2023, USD Million
- TABLE 18 LAMEA Customer Experience Market by Country, 2024 - 2031, USD Million
- TABLE 19 LAMEA Algorithmic Trading Market by Country, 2020 - 2023, USD Million
- TABLE 20 LAMEA Algorithmic Trading Market by Country, 2024 - 2031, USD Million
- TABLE 21 LAMEA Other Application Market by Country, 2020 - 2023, USD Million
- TABLE 22 LAMEA Other Application Market by Country, 2024 - 2031, USD Million
- TABLE 23 LAMEA Generative AI in BFSI Market by Country, 2020 - 2023, USD Million
- TABLE 24 LAMEA Generative AI in BFSI Market by Country, 2024 - 2031, USD Million
- TABLE 25 Brazil Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 26 Brazil Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 27 Brazil Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 28 Brazil Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 29 Brazil Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 30 Brazil Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 31 Argentina Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 32 Argentina Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 33 Argentina Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 34 Argentina Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 35 Argentina Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 36 Argentina Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 37 UAE Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 38 UAE Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 39 UAE Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 40 UAE Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 41 UAE Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 42 UAE Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 43 Saudi Arabia Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 44 Saudi Arabia Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 45 Saudi Arabia Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 46 Saudi Arabia Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 47 Saudi Arabia Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 48 Saudi Arabia Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 49 South Africa Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 50 South Africa Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 51 South Africa Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 52 South Africa Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 53 South Africa Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 54 South Africa Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 55 Nigeria Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 56 Nigeria Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 57 Nigeria Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 58 Nigeria Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 59 Nigeria Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 60 Nigeria Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 61 Rest of LAMEA Generative AI in BFSI Market, 2020 - 2023, USD Million
- TABLE 62 Rest of LAMEA Generative AI in BFSI Market, 2024 - 2031, USD Million
- TABLE 63 Rest of LAMEA Generative AI in BFSI Market by End-User, 2020 - 2023, USD Million
- TABLE 64 Rest of LAMEA Generative AI in BFSI Market by End-User, 2024 - 2031, USD Million
- TABLE 65 Rest of LAMEA Generative AI in BFSI Market by Application, 2020 - 2023, USD Million
- TABLE 66 Rest of LAMEA Generative AI in BFSI Market by Application, 2024 - 2031, USD Million
- TABLE 67 Key Information - Accenture PLC
- TABLE 68 Key Information - SAS Institute, Inc.
- TABLE 69 Key Information - Google LLC
- TABLE 70 Key Information - Salesforce, Inc.
- TABLE 71 Key Information - Microsoft Corporation
- TABLE 72 Key Information - Adobe, Inc.
- TABLE 73 Key Information - OpenAI, L.L.C.
- TABLE 74 Key Information - IBM Corporation
- TABLE 75 Key Information - NVIDIA Corporation
- TABLE 76 Key Information - Intel Corporation
