augmented analytics in banking financial services and insurance bfsi market demand, augmented analytics in banking financial services and insurance bfsi market growth, augmented analytics in banking financial services and insurance bfsi market forecast, augmented analytics in bfsi market trends, augmented analytics in bfsi market outlook
The Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Market:
https://www.thebusinessresearchcompany.com/report/augmented-analytics-in-banking-financial-services-and-insurance-bfsi-global-market-report
According to The Business Research Company’s Augmented Analytics In Banking, Financial Services And Insurance (BFSI) Global Market Report 2024, The augmented analytics in the banking, financial services, and insurance (BFSI) market size has grown exponentially in recent years. It will grow from $2.06 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth in the historic period can be attributed to increasing regulatory requirements, growing data volumes, demand for real-time insights, adoption of digital banking, customer experience enhancement, and fraud detection improvements.
The augmented analytics in the banking, financial services, and insurance (BFSI) market size is expected to see exponential growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period can be attributed to the expansion of open banking initiatives, integration with blockchain for secure transactions, the rise of quantum computing applications, predictive analytics for economic volatility, and enhanced cybersecurity analytics. Major trends in the forecast period include increasing adoption of explainable AI for regulatory compliance, expansion of AI-driven customer insights, integration of augmented reality for virtual financial consultations, growth in AI-powered fraud detection, leveraging of natural language processing for customer service automation, and development of AI-based investment advisory services.
The increasing data volume is expected to propel the growth of augmented analytics in banking, financial services, and insurance (BFSI) market going forward. Data volume is the amount of data that is saved, processed, and managed within an information system or database. With growing digitalization, advancements in IoT, big data analytics, and cloud-based computing have led to the generation of massive volumes of real-time data from diverse sources. The volume of data allows augmented analytics to provide deeper insights and more accurate forecasts, improving risk management, consumer behavior research, and market trend assessment in BFSI. This also enables BFSI enterprises to provide more tailored services by evaluating client interactions and preferences, resulting in increased satisfaction. For instance, in December 2022, according to the SODA Foundation, a US-based open-source initiative, the annual data growth for an average end-user organization surged from 700 terabyte (TB) in 2021 to 2,208 terabyte (TB) in 2022, reflecting a threefold increase in data volume over a year. Therefore, the increasing data volume is driving the growth of augmented analytics in the banking, financial services, and insurance (BFSI) market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=18230&type=smp
The augmented analytics in banking, financial services and insurance (BFSI) market covered in this report is segmented –
1) By Type: Solution, Service
2) By Deployment Model: On-Premises, Cloud-Based
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Risk Management, Fraud Detection and Prevention, Customer Analytics, Compliance Management, Performance Management, Other Applications
Major companies operating in the augmented analytics in banking, financial services, and insurance (BFSI) market are developing advanced solutions with artificial intelligence (AI)-powered data analytics to enhance decision-making processes and improve personalized customer experiences. AI-powered data analytics entails employing AI to analyze vast amounts of data rapidly and effectively, allowing financial organizations to identify trends, detect anomalies, and anticipate outcomes with better precision. For instance, in March 2024, TransUnion, a US-based provider of total credit protection, launched OneTru. It combines diverse data and analytic assets for credit risk, marketing, and fraud prevention into a single, layered, unified ecosystem. This enables TransUnion to provide a more accurate, comprehensive, and compliant image of consumers across use cases. OneTru uses AI and machine learning to create knowledge graphs that improve identity resolution by connecting structured data like offline IDs with unstructured data like behavioral information and device attributes. This improves fraud detection while reducing false positives.
The augmented analytics in banking, financial services and insurance (bfsi) market report table of contents includes:
1. Executive Summary
2. Augmented Analytics Market Characteristics
3. Augmented Analytics Market Trends And Strategies
4. Augmented Analytics Market – Macro Economic Scenario
5. Global Augmented Analytics Market Size and Growth
.
.
.
31. Global Augmented Analytics Market Competitive Benchmarking
32. Global Augmented Analytics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Augmented Analytics Market
34. Augmented Analytics Market Future Outlook and Potential Analysis
35. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
