According to a new report Global AI in Asset Management Market , published by KBV research, The Global AI In Asset Management Market size is expected to reach $ 8.3 billion by 2026, rising at a market growth of 41.1% CAGR during the forecast period.
Machine learning dominated the market in the year 2019. This is accredited to factors like an increase in the automation process in manufacturing industries. Machine learning (ML) imitates the evolution of technology since machines are adept at sorting large datasets and can extract information through identifying patterns and outliers. ML is deployed in the asset management systems to intensification the efficiency and accuracy of operational workflow, advance the customer experience, and improve the system performance.
On-premises has dominated the market in the year 2019. This is accredited to the features like security and privacy promises facilitated by the on-premises solutions in asset and wealth management. Additionally, on-premise solutions also use edge analytics that is beneficial in reducing the bandwidth requirement. By incorporating these solutions, on-premise fetches higher speed and reliability in the results.
The cloud segment is expected to show significant growth over the foreseeable period of time. This growth is ascribed to the fact that the application of cloud solutions eliminates the firewall restrictions that is the potential to hamper the access of the users in an on-premise solution.
The portfolio optimization segment dominated the market in the year 2019. This is accredited to the factors such as increases adoption of machine learning algorithms in asset managing that in turn facilitate portfolio management decisions. The conversational platform segment is expected to witness significant growth over the coming years. This growth is accredited to the fast-gained approval of chatbots in the industry.
North America led the market with highest share in year 2019. This is accredited to the facts such as favorable government inventiveness that encourage the implementation of artificial intelligence (AI) in various industries. The Asia Pacific is expected to show substantial growth in the coming years. This growth is ascribed to the ominously rise in investments in AI in asset management. Likewise, a rising number of AI start-ups in this region are also enhancing the AI adoption in asset management that will help to improve operational effectiveness and enable process automation.
Structural Insights : https://www.kbvresearch.com/ai-asset-management-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Genpact Limited, Infosys Limited, Amazon.com, Inc., BlackRock, Inc. (PNC Financial Services Group), IPsoft, Inc., Salesforce.com, Inc., Lexalytics, Inc. and Narrative Science, Inc.
Global AI in Asset Management Market Segmentation
By Technology
- Machine Learning
- Natural Language Processing
- Others
By Deployment Mode
- On-Premise
- Cloud
By Application
- Portfolio Optimization
- Risk & Compliance
- Conversational Platform
- Process Automation
- Data Analysis
- Others
By End-User
- BFSI
- Automotive
- Healthcare
- Retail & eCommerce
- Energy & Utilities
- Media & Entertainment
- Others
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- IBM Corporation
- Microsoft Corporation
- Genpact Limited
- Infosys Limited
- com, Inc.
- BlackRock, Inc. (PNC Financial Services Group)
- IPsoft, Inc.
- com, Inc.
- Lexalytics, Inc.
- Narrative Science, Inc.
