The global AI in asset management market size is expected to reach USD 17.01 billion by 2030, expanding at a CAGR of 24.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Artificial intelligence (AI) in asset management refers to the automation of IT asset lifecycles with intuitive workflows and making informed decisions about asset vendors and capacity. Asset and wealth management firms are exploring potential artificial intelligence-based solutions to improve their investment decisions and extract insights out of their historical data. The current landscape of AI applications in asset and investment management include management of digital assets and physical assets and investment advisory consumer applications.
The COVID-19 outbreak has created significant uncertainties and challenges for the Web access management (WAM) industry. However, this crisis may accelerate certain activities related to the speed of digital transformation and automation as some markets have shown high acceptance of digital or virtual approaches related to client interaction and distribution. Also, key players are leveraging AI and machine learning technologies to improve resilience and enhance productivity. For instance, in March 2023, Elomatic, a foremost European multidisciplinary industrial engineering, consultancy, and software design company, partnered with Silo AI Oy to develop a digital platform for ship asset analysis, maintenance, and optimization. The platform is primarily planned for offshore energy and the marine industry. It will also be designed for generic asset lifecycle management and can be operated in multiple industrial applications.
The global artificial intelligence in the asset and wealth management industry has been steadily expanding and witnessing substantial transformations due to the fundamental shift in global finance and technology. The noticeable rapid progress in technology in the last two decades has significantly improved the way industry professionals store and process data. The cost of collection & processing of stock market data across verticals has consequently reduced, which has opened new possibilities for improvement in decision-making mechanisms across industries. Analytics is revolutionizing the problem-solving paradigms of the asset management industry by reforming the functioning of some of the dimensions, including client profiling, product recommendations, customer churn, sentiment analysis, and marketing & strategy.
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The machine learning segment led the market and accounted for over 65% share of the global revenue in 2022. Machine learning (ML) assists asset managers in identifying and assessing risks associated with investments by analyzing historical data, market trends, and other relevant factors. This can help asset managers better manage risks and mitigate potential losses
The on-premises segment led the market and accounted for over 54% of the global revenue in 2022 owing to the security and privacy offered by the on-premises solutions in asset management
Process automation segment led the market and accounted for a share of over 26% of the global revenue in 2022. Process automation is one key area where AI is widely adopted in the asset management industry. Automating repetitive and manual tasks not only helps to increase efficiency and reduce errors but also frees up resources for more strategic initiatives
North America dominated the market and accounted for over 50% share of global revenue in 2022. This high share is attributable to favorable government initiatives to encourage the adoption of artificial intelligence (AI) across various industries
Grand View Research has segmented the global AI in asset management market on the basis of technology, deployment mode, application, and region.
Artificial Intelligence (AI) in Asset Management Technology Outlook (Revenue, USD Million, 2017 - 2030)
Natural Language Processing (NLP)
Artificial Intelligence (AI) in Asset Management Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)
Artificial Intelligence (AI) in Asset Management Application Outlook (Revenue, USD Million, 2017 - 2030)
Risk & Compliance
Artificial Intelligence (AI) in Asset Management Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East and Africa (MEA)
List of Key Players in the Artificial Intelligence (AI) in Asset Management Market
Amazon Web Services, Inc.
Charles Schwab & Co., Inc
International Business Machines Corporation
TABLEAU SOFTWARE, LLC
Next IT Corp.
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