Artificial Intelligence in Asset Management Market to grow by USD 10,373.18

NEW YORK , May 26, 2023 /PRNewswire/ — The artificial intelligence in asset management market size is set to grow by USD 10,373.18 million from 2022 to 2027 and register a CAGR of 37.88%, according to Technavio’s latest market research report. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

Artificial Intelligence in Asset Management Market 2023-2027: Segmentation

The Artificial Intelligence (AI) in Asset Management Market is segmented as follows:

• Deployment 
• Industry application 
• BSFI
• Retail and e-commerce
• Healthcare
• Energy and utilities
• Others
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The market share growth by the on-premises segment will be significant for overall market growth during the forecast period. On-premises solutions have better performance and faster response times due to the fact that the data is processed locally on the company’s servers. For instance, financial institutions are increasingly interested in on-premises artificial intelligence solutions for wealth management. Banks and other financial institutions deal with large amounts of sensitive data every day and to effectively manage this data, on-premises solutions provide the necessary level of customization and security. Thus, the increase and advancement of on-premises capabilities are expected to drive the growth of the segment during the forecast period.

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Artificial Intelligence in Asset Management Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the artificial intelligence in asset management market include Amazon.com Inc., AXOVISION GmbH, BlackRock Inc., Deloitte Touche Tohmatsu Ltd., Genpact Ltd., Infosys Ltd., International Business Machines Corp., Lexalytics Inc., Microsoft Corp., New Narrative Ltd., Salesforce Inc., and The Charles Schwab Corp.. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market.
Vendor Offerings

• Amazon.com Inc. – The company offers artificial intelligence asset management services through Amazon Web services.
• AXOVISION GmbH – The company offers artificial intelligence asset management services such as drift handling, hypothesis-free analysis.
• BlackRock Inc. – The company offers artificial intelligence asset management services for generating alpha, managing risk, and enhancing operational efficiency.

The artificial intelligence in asset management market is concentrated, and the degree of concentration will accelerate. The rapid adoption of artificial intelligence in asset management and growing importance of asset tracking will offer immense growth opportunities. However, the Rising number of data privacy and cybersecurity will hamper the market growth.

Artificial Intelligence in Asset Management Market 2023-2027: Market Dynamics

Drivers

• The rapid adoption of artificial intelligence in asset management and the growing importance of asset tracking is a significant driving factor for Artificial Intelligence in Asset Management Market.
• Artificial Intelligence is changing the way assets are tracked and managed; with IoT, assets can be equipped with sensors and other devices to collect data about their condition, location, and usage.
• The data feeds into artificial intelligence algorithms that provide real-time insights into asset health, availability, and utilization, enabling asset managers to optimize asset utilization, minimize downtime, reduce costs, and maximize revenue.
• Hence, such drivers boost the market growth of the market during the forecast period.

Trends

• The growing adoption of cloud-based artificial intelligence services in asset management is the major trend in the global artificial intelligence (AI) in asset management market growth. 
• Asset management is an important part of any business. Moreover, recent technological advances…