Generative Artificial Intelligence (AI) In Banking Market Forecast 2025-2034: Comprehensive Insights On Market Size

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LONDON, GREATER LONDON, UNITED KINGDOM, February 25, 2025 /EINPresswire.com/ — Is The Generative Artificial Intelligence (AI) In Banking Market Set To Witness Substantial Growth?

The generative artificial intelligence AI in banking market is rapidly expanding, which was valued at $1.16 billion in 2024 is expected to surge to $1.44 billion in 2025, signaling a robust compound annual growth rate CAGR of 24.1%. A number of variables are fuelling this dynamic expansion – increasing data availability, cloud computing adoption, customer personalization demand, regulatory pressure for compliance, and the rise of fintech disruptors among them.

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The momentum seems set to propel the market to new heights. According to projections, the generative AI in banking market size will experience exponential growth, reaching $3.39 billion in 2029 at a compound annual growth rate CAGR of 23.9%. Automation of banking processes, demand for fraud detection, the burgeoning digital banking sector, the pursuit of operational efficiency, and an enhanced customer experience focus are among the key drivers of growth during the forecast period. It’s not all about the increase in size though; the evolution of services is equally notable. Emerging trends range from AI-driven chatbots and AI-based risk management tools to personalized financial services, AI-powered investment tools, and the integration of AI in mobile banking apps.

What Drives The Generative Artificial Intelligence (AI) In Banking Market Growth?

The growth of the generative AI in banking market is also fundamentally linked with the increasing demand for fraud detection and prevention measures. Fraud detection and prevention are strategies and technologies employed to identify, prevent, and manage fraudulent activities. Robust demand in this niche is fueled by the rising sophistication of fraud tactics and the volume of financial transactions. Generative AI in banking can be a game-changer, analyzing vast patterns in data to identify unusual transactions and prevent fraudulent activities in real-time.

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Who Are The Key Players In The Generative Artificial Intelligence (AI) In Banking Market?

Leading the charge in the generative artificial intelligence AI banking market are established players like Google LLC, Microsoft Corporation, Amazon Web Services AWS Inc., Accenture plc, and International Business Machines Corporation IBM. Other significant stakeholders include Oracle Corporation, SAP SE, Tata Consultancy Services TCS Ltd., Nvidia Corporation, and Salesforce Inc.

What Are The Emerging Trends In The Generative Artificial Intelligence (AI) In Banking Market?

Key companies in the generative AI banking market are not only leading the field but also pioneering innovations. They are developing innovative solutions like ‘responsible generative AI’, a technology that ensures ethical, transparent, and secure financial processes while enhancing fraud detection and customer service capabilities.

How Is The Generative Artificial Intelligence (AI) In Banking Market Segmented?

1 By Technology: Natural Language Processing; Deep Learning; Reinforcement Learning; Generative Adversarial Networks; Computer Vision; Predictive Analytics
2 By Deployment Model: Cloud Deployment; On-Premises Deployment; Hybrid Deployment
3 By End-User: Retail Banking Customers; Small And Medium Enterprises; Investment Professionals; Compliance And Risk Management Teams; Operations And Process Optimization; Executives And Decision Makers

What Is The Regional Analysis Of Generative Artificial Intelligence (AI) In Banking Market?

The report provides a detailed geographical analysis, revealing that North America was the largest region in the generative artificial intelligence AI in banking market in 2024. Going forward, the regions that industry professionals need to keep an eye on include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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