According to a trading market forecast from Fortune Business Insights, artificial intelligence (AI) is already well into the process of revolutionizing how people trade online. The expected impact was calculated and forecasted for a 7-year period from 2021 to 2028. Taking a look through the most important highlights contained within the report reveals revolutionary trends for the market in coming years.
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Expected CAGR: 5.1% from 2021 – 28
The expected compound annual growth rate percentage (CAGR) is stated to be roughly 5.1% across 7-years in the report. In line with the CAGR forecasted, the online trading market will:
- Reach an expected value of $12.16 billion in 2028, from its last calculated value of $8.59 billion in 2021.
- Grow by a whopping 41.56% in 7 years, gaining a total estimated amount of $3.57 billion between 2021 and 2028.
The Unexpected Role of Covid-19
As per the report, online trading received its first major market boost in 2020. Internet trading grew from $8.28 billion by the end of 2019, to $8.59 billion by the end of 2020. Note that the 3.74% YoY growth was considerably higher than what has been seen in the last 5-years at least.
All evidence suggests that the pandemic and the restrictions that came with it played a big role here. Even though Covid-19 is no longer a significant factor right now, it acted as the unexpected catalyst which pushed more people to show greater interest in online trading options.
AI-Assisted Online Trading Options are Cited as Main Reasons Behind the Boost
During the pandemic, more users became aware of the convenience and ease which AI-integrated multiplatform online trading apps like Pocketoption Broker are designed to provide. Both new and experienced traders have found smart online trading applications incredibly useful.
Even people who had never traded before in their life found the simplified interface an ideal starting point for them. Major online brokers who facilitate the development of AI trading applications also began to realize the potential here.
AI Will Remain the Key Factor in Driving the Predicted Boost in Online Trading
If 2020 was the unexpected catalyst that provided massive exposure to online trading, the coming years will see developers, share brokers, and traders building on that advantage.
Even as they are today, AI chatbots are capable of:
- Identifying and analysing custom KPIs for better predictions and even personalized suggestions.
- Creating personalized information sheets for each user, complete with actionable insights.
- Communicating directly with traders in a limited but highly relevant capacity.
- Both starting and closing numerous trades simultaneously.
Not only will AI integration and assistance continue to be of critical importance in their current capacity, but additional features and incredible refinements in chatbot behaviour/performance is to be expected.
On the geographic segmentation and estimated growth page, we find that North America is estimated to hold the lead as the highest revenue generator for the online trading industry all throughout 2021 – 2028. Europe will remain the second highest revenue generator in the sector, while Asia Pacific may have the highest growth rate in online trading.
For more information and details, read the full report here.
