How big is the artificial intelligence (ai) in financial wellness market today, and what are its future growth expectations?
The artificial intelligence (AI) in financial wellness market size has grown exponentially in recent years. It will grow from $17.73 $ billion in 2024 to $23.74 $ billion in 2025 at a compound annual growth rate (CAGR) of 33.9%. The growth in the historic period can be attributed to growth of fintech companies, increased digitalization of financial services, consumer demand for personalized financial solutions, rising awareness of financial wellness, economic uncertainty.
The artificial intelligence (AI) in financial wellness market size is expected to see exponential growth in the next few years. It will grow to $75.72 $ billion in 2029 at a compound annual growth rate (CAGR) of 33.6%. The growth in the forecast period can be attributed to growing demand for automated financial services, expansion of financial wellness programs by employers, increased focus on financial literacy, increased focus on mental health and financial wellness, expansion of AI into new financial service areas. Major trends in the forecast period include integration of AI with blockchain technology, AI in wealth management platforms, adoption of mobile banking, AI-based customer support solutions, AI-driven fraud detection systems.
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What have been the primary factors driving the artificial intelligence (ai) in financial wellness market’s growth?
The increasing financial accessibility is expected to propel the growth of artificial intelligence (AI) in financial wellness market going forward. Financial accessibility refers to the ease with which individuals can access and utilize financial services and products, regardless of their economic status, geographic location, or financial background. Increasing financial accessibility is essential to ensure that more individuals can benefit from financial services, build wealth, and achieve financial stability, thereby promoting greater economic inclusion and reducing financial inequality. AI enhances financial accessibility by providing personalized, automated financial advice and services that reach underserved populations, simplifying complex financial tasks, and offering affordable solutions tailored to individual needs. For instance, in October 2023, according to the International Monetary Fund, a US-based international financial institution, in Europe and the Western Hemisphere saw significant growth in mobile and internet banking, with online banking transactions per 1,000 adults rising by over 20% in 2022. Furthermore, in the Asia and Pacific region, the number of deposit accounts rose by 13% in 2022, largely fueled by growth in China, Nepal, and Indonesia. Therefore, increasing financial accessibility will drive the growth of artificial intelligence (AI) in financial wellness market.
What are the key segments within the artificial intelligence (ai) in financial wellness market?
The artificial intelligence (AI) in financial wellness market covered in this report is segmented –
1) By Type: Software, Service
2) By Deployment Type: Cloud-Based, On-Premises
3) By Application: Wealth Management, Fraud Detection And Prevention, Risk Management And Compliance, Customer Service And Support, Other Applications
4) By End-User Type: Financial Institutions, Enterprises, Individuals
Subsegments:
1) By Software: AI-Powered Financial Planning Software, Personal Finance Management Tools, AI-Based Budgeting And Expense Tracking Software, Credit Scoring And Risk Assessment Tools, AI-Driven Investment Advisory Software, Financial Forecasting And Analytics Software, Automated Tax Filing And Optimization Software, Debt Management And Consolidation Software
2) By Service: AI Integration And Implementation Services, Financial Wellness Consultation And Advisory Services, Personalized Financial Coaching Services, AI-Based Financial Education Services, Data Analytics And Insights For Financial Wellness, Post-Implementation Support And Maintenance Services, AI-Driven Risk Management And Fraud Prevention Services
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Which key players are shaping the artificial intelligence (ai) in financial wellness market?
Major companies operating in the artificial intelligence (AI) in financial wellness market are Prudential Financial Inc., Fidelity National Financial, Transamerica Corporation, Nu Pagamentos S.A. (Nubank), Mercer LLC, Ayco a Goldman Sachs Company, Ramsey Solutions LLC, Purchasing Power LLC, Personetics Technologies Inc., Wealthfront Corporation, Aduro Inc., Health Advocate Inc., PayActiv Inc., HealthCheck360 a division of Cottingham & Butler, Fyle Technologies Private Limited, Ellevest Inc., Financial Fitness Group, EarnUp Inc., Brigit, BrightDime Inc., Edukate Inc., Enrich Financial Wellness, Money Starts Here, SUM180 Inc., Best Money Moves LLC
How will emerging trends drive the artificial intelligence (ai) in financial wellness market throughout the forecast period?
Major companies operating in artificial intelligence (AI) financial wellness market are focusing on virtual assistants, such as AI advisors, to enhance personalized financial guidance for better financial decision-making. AI advisors are virtual assistants powered by artificial intelligence that provide personalized financial advice, guidance, and support based on user data and real-time analytics. For instance, in July 2024, EarnUp Inc., a US-based fintech company focused on providing innovative financial wellness solutions for consumers and financial institutions, unveiled AI Advisor, a pioneering product poised to revolutionize how financial institutions engage with consumers. The financial guide is engineered to manage consumer financial wellness comprehensively. It provides expert advice paired with seamless execution, serving as the ultimate tool for enhancing customer engagement. AI Advisor utilizes advanced artificial intelligence to deliver hyper-personalized insights and guidance, enabling users to make informed decisions in pursuit of their financial goals. This innovative solution analyzes real-time banking and credit data to offer tailored answers and product recommendations, thereby enhancing the user experience and deepening financial understanding.
How do regional factors impact the artificial intelligence (ai) in financial wellness market, and which region is the largest contributor?
North America was the largest region in the artificial intelligence (AI) in financial wellness market in 2024. The regions covered in the artificial intelligence (AI) in financial wellness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Artificial Intelligence (AI) In Financial Wellness Market Report 2025 Offer?
The artificial intelligence (ai) in financial wellness market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Artificial intelligence (AI) in financial wellness involves using advanced technologies like machine learning and predictive analytics to enhance individuals’ financial well-being. It provides personalized financial advice, automates budgeting and investment management, and offers insights into spending and saving behaviours. AI-driven tools also help detect fraud, optimize credit scores, and educate users on financial concepts, ultimately empowering them to make informed financial decisions.
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