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AI Platform Lending Market Analysis by Type {Natural Language Processing (NLP), Deep Learning (DL), Machine Learning (ML), and Others}; by Functionality (Self-Aware, Reactive Machines, Limited Memory, Theory of Mind, and Others); by AI Type (Analytic, Text, Visual, Interactive, and Others); and by End-User (Bank, Educational Institution, Government Organization, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Tavant to unveil its two products at the MBA Annual that are AI-powered and for Touchless Lending. Touchless Lending facilitates an end-to-end mortgage manufacturing pipeline along with mortgage processing and automated underwriting.

  • Sigma Infosolutions to collaborate with Colve.AI to enhance its business intelligence solutions. It is estimated to help the company to enlarge eCommerce economy and provide AI-powered recommendation solutions for the growth of sales.

Global AI Platform Lending Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~25%

Base Year Market Size (2022)

~USD 70 Billion

Forecast Year Market Size (2033)

~USD 90 Billion

 

The global AI platform lending market is estimated to garner a revenue of USD 90 billion by the end of 2033 by growing at a CAGR of ~25% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 70 billion in the year 2022. The growth of the market can primarily be attributed to the exponential increase in digital transformation spending across the globe. For instance, in 2022, the total spending on digital transformation (DX) was valued at around USD 2 trillion and is further expected to drop to approximately USD 3 trillion by 2025.

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Global AI platform lending market trends such as, a significant escalation in IT spending and a higher number of population applying for loans from the bank are projected to influence the growth of the market positively over the forecast period. As of 2022, IT spending was estimated to hit approximately USD 5 trillion. Moreover, the spiking number of financial institutions is further expected to hike the growth of the market over the forecast period. For instance, in 2021, around 125 financial institutions were estimated to be functioning worldwide. Hence, all these factors are expected to hike the growth of the market over the forecast period.

Global AI Platform Lending Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Number of Banks Across the Globe
  • It is estimated that the United States had about 11,000 registered banks and credit unions in 2018.
  • There’s a remarkable number of banks functioning in every nation and since digitalization is at its peak, they all are adopting AI-based lending platforms. It helps the bank or any other lending institution to understand the latest financial trends, demand, and existing data of customers and creates efficient and credible results for decision-making. Therefore, such a higher adoption is expected to hike the growth of the market over the forecast period.
  • Growing Number of Credit Card Holders  

  • As of 2021, approximately 1.5 billion transactions were estimated to be completed via credit card in India.
  • Rising Advancement in Cloud Computing

  • In 2022, approximately 55% of corporate data was anticipated to be stored in the cloud while around USD 350 billion were generated by the cloud computing segment in 2021.
  • Higher Prevalence of Digitalization Worldwide

  • For instance, in 2022, approximately 90% of businesses were projected to be involved in some sort of digital initiative while 85% of business leaders admit that digitalization is a priority.
  • Increasing Banking Activities on Smartphones

  • It was noticed that about 3 billion people were using smartphones in 2019 worldwide.

Challenges

  • Higher Credibility on Traditional Lending Methods
  • Possibility of Cyber Attack and Financial Damage
  • Issues Regarding Connectivity and Infrastructure Maintenance

The global AI platform lending market is segmented and analyzed for demand and supply by end-user into bank, educational institution, government organization, and others, out of which, the bank segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising number of banks and their users. In 2018, the number of banks worldwide was anticipated to be around 45,000.

Major Macro-Economic Indicators Impacting the Market Growth

AI market overview image

 

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global AI Platform Lending Market Regional Synopsis

Regionally, the global AI platform lending market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be attributed to the spiking banking activities and rising number of credit card holders. For instance, around 1.05 billion credit cards were observed to be utilized in the United States alone in 2021 and the number is further projected to grow Y-O-Y. Additionally, escalating number of bank users in the region is further expected to push the growth of the market over the forecast period. 

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The global AI platform lending market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global AI platform lending market includes the following segments:

 

 

           By Type

  • Natural Language Processing (NLP)
  • Deep Learning (DL)
  • Machine Learning (ML)
  • Others

 

 

           By Functionality

  • Self-Aware
  • Reactive Machines
  • Limited Memory
  • Theory of Mind
  • Others

 

 

          By AI Type

  • Analytic
  • Text
  • Visual, Interactive
  • Others

         By End-User

  • Bank, Educational Institution
  • Government Organization
  • Others

Top Featured Companies Dominating the Global AI Platform Lending Market

  • Wizni, Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Ellie Mae, Inc.
  • Tavant
  • Sigma Infosolutions
  • Roostify, Inc.
  • Fiserv, Inc.
  • Pegasystems Inc.
  • Newgen Software Technology Limited
  • Nucleus Software Exports Limited
  • KPIT Technologies Limited 

 

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