Global FinTech market by deployment mode (on-premise and cloud); by application (payment & fund transfer, loans, insurance & personal finance, wealth management, and others); by technology (application programming interface [API], artificial intelligence
Description
Global FinTech market by deployment mode (on-premise and cloud); by application (payment & fund transfer, loans, insurance & personal finance, wealth management, and others); by technology (application programming interface [API], artificial intelligence [AI], blockchain, robotic process automation, data analytics, and others), and end-user (banking, insurance, securities, and others); by region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa); trend analysis, competitive market share & forecast, 2018-2028.
Global Fintech Market to Grow at a CAGR of 25.0% during 2022 – 2028
The global Fintech market’s growth is attributable to rising popularity for digital payments, increased adoption of IoT connected devices, escalating investments in technology-driven solutions, and supportive government rules and regulations…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Fintech Market is expected to grow at a CAGR of 25.0% during the forecast period of 2022-2028. Fintech is a broad term representing technology-driven advancements in financial services. Factors like the rising popularity of digital payments increased adoption of IoT connected devices, and massive investments in technology-driven solutions are expected to positively influence the Global Fintech Market in the coming years.
Adoption Of Futuristic Technologies And Escalating Collaborations Between National Regulators And Financial Regulators Driving The Fintech Market Growth.
The large-scale integration of the latest technologies like Artificial Intelligence, Internet of Things, Machine Learning, cloud computing technologies, etc., have made the demand for technologically driven financial solutions skyrocket over the last few years. The adoption of fintech technologies has escalated at an impressive rate over the past few years, especially by SMEs, as fintech help SMEs meet their financial needs like financing, banking, payments, insurance, etc. Moreover, more agreements and collaborations between national regulators and financial institutions are expected to propel the growth rate of the fintech market during the forecast period.
Data Privacy And Security Concerns And Stringent Regulations To Impede The Fintech Market Growth.
One of the downsides to technological advancements is that cybersecurity is becoming a threatening challenge in information and communication technology. Moreover, the diverse and conflicting government regulations applicable across different jurisdictions and excessively coercive regulations prevent the fintech technologies from meeting their potential and reducing their operability. The obvious lack of human contact is evident from the fact that most of the accounts on the fintech apps are lying inactive. These factors act as major challenges for the market growth of the global fintech market.
Artificial Intelligence Segment Projected to Grow with A Higher CAGR During The Forecast Period 2022-2028.
The global fintech market is segmented into the following categories on the basis of technology like application programming interface [API], artificial intelligence [AI], blockchain, robotic process automation, data analytics, etc. Amidst the segmentation, the artificial intelligence segment is expected to have a higher growth rate in the coming years. The wide range of capabilities driven by AI is contributing to the growing share of the AI segment. Banking firms throughout the world are implementing advanced risk analytics and fraud detection capabilities powered by AI to prevent the loss of sensitive customer information. Several other emergent fields like blockchain and distributed ledger technology (DLT) are expected to show a healthy growth rate during the forecast period.
Impact of COVID-19 on the Fintech Market
The deadly COVID-19 pandemic had a disastrous effect on different sectors except for the ones, the global Fintech market being the most prominent one among these. The outbreak of COVID-19 led to widespread adoption of the usage of digital payments. Moreover, due to the COVID-19 pandemic, key countries such as China and the U.S. have taken major strategic decisions. Leading companies are evolving advanced technologies and developing new products to remain competitive in the market. Accessibility to affordable financial services is crucial for poverty reduction and economic growth of economies; thereby, innovations in the fintech market are helping to reduce the cost of providing services, thus creating a wider reach and lowering the need for face-to-face interactions during the COVID pandemic. This has become one of the most significant factors aiding the growth of the fintech market during the global health crisis and consequent lockdowns.
North America Dominates The Global Fintech Market While Asia-Pacific To Witness The Highest Growth During The Forecast Period.
Amidst the segmentation based on region, North America accounted for the largest market share owing to extensive R&D activities. On the other hand, the highest CAGR is anticipated to be exhibited by the Asia-Pacific on account of expanding customer base due to largest population share, especially of Gen Z and millennials, and openness to accept new technology, thereby presenting a huge market opportunity to convert from cash to digital payments. Other regions, like Latin America and Africa, are also emerging on the fintech scenario.
Competitive Landscape
The Fintech market is a fragmented market with numerous players serving the market. The key players dominating the global Fintech market are Ant Group Co. Ltd., Paypal Holdings, Inc., Tencent Holdings Ltd., Robinhood Markets, Inc., Google Payment Corp., One97 Communications Ltd., Adyen NV., Qudian Inc., Afterpay Limited, Nexi SpA, Klarna Bank AB, Social Finance, Inc, Avant, LLC, Bankable, Blockstream Corporation Inc., Circle Internet Financial Limited, Cisco Systems Inc., Goldman Sachs, IBM Corporation, Microsoft, NVIDIA Corporation, Oracle, Tata Consultancy Services Limited and other prominent players. The key marketing strategies adopted by the players are extensive investments in research and development, portfolio expansions, new and advanced product launches, geographical expansions collaborations, partnerships and acquisition to expand their customer reach.
Global Fintech Market to Grow at a CAGR of 25.0% during 2022 – 2028
The global Fintech market’s growth is attributable to rising popularity for digital payments, increased adoption of IoT connected devices, escalating investments in technology-driven solutions, and supportive government rules and regulations…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Fintech Market is expected to grow at a CAGR of 25.0% during the forecast period of 2022-2028. Fintech is a broad term representing technology-driven advancements in financial services. Factors like the rising popularity of digital payments increased adoption of IoT connected devices, and massive investments in technology-driven solutions are expected to positively influence the Global Fintech Market in the coming years.
Adoption Of Futuristic Technologies And Escalating Collaborations Between National Regulators And Financial Regulators Driving The Fintech Market Growth.
The large-scale integration of the latest technologies like Artificial Intelligence, Internet of Things, Machine Learning, cloud computing technologies, etc., have made the demand for technologically driven financial solutions skyrocket over the last few years. The adoption of fintech technologies has escalated at an impressive rate over the past few years, especially by SMEs, as fintech help SMEs meet their financial needs like financing, banking, payments, insurance, etc. Moreover, more agreements and collaborations between national regulators and financial institutions are expected to propel the growth rate of the fintech market during the forecast period.
Data Privacy And Security Concerns And Stringent Regulations To Impede The Fintech Market Growth.
One of the downsides to technological advancements is that cybersecurity is becoming a threatening challenge in information and communication technology. Moreover, the diverse and conflicting government regulations applicable across different jurisdictions and excessively coercive regulations prevent the fintech technologies from meeting their potential and reducing their operability. The obvious lack of human contact is evident from the fact that most of the accounts on the fintech apps are lying inactive. These factors act as major challenges for the market growth of the global fintech market.
Artificial Intelligence Segment Projected to Grow with A Higher CAGR During The Forecast Period 2022-2028.
The global fintech market is segmented into the following categories on the basis of technology like application programming interface [API], artificial intelligence [AI], blockchain, robotic process automation, data analytics, etc. Amidst the segmentation, the artificial intelligence segment is expected to have a higher growth rate in the coming years. The wide range of capabilities driven by AI is contributing to the growing share of the AI segment. Banking firms throughout the world are implementing advanced risk analytics and fraud detection capabilities powered by AI to prevent the loss of sensitive customer information. Several other emergent fields like blockchain and distributed ledger technology (DLT) are expected to show a healthy growth rate during the forecast period.
Impact of COVID-19 on the Fintech Market
The deadly COVID-19 pandemic had a disastrous effect on different sectors except for the ones, the global Fintech market being the most prominent one among these. The outbreak of COVID-19 led to widespread adoption of the usage of digital payments. Moreover, due to the COVID-19 pandemic, key countries such as China and the U.S. have taken major strategic decisions. Leading companies are evolving advanced technologies and developing new products to remain competitive in the market. Accessibility to affordable financial services is crucial for poverty reduction and economic growth of economies; thereby, innovations in the fintech market are helping to reduce the cost of providing services, thus creating a wider reach and lowering the need for face-to-face interactions during the COVID pandemic. This has become one of the most significant factors aiding the growth of the fintech market during the global health crisis and consequent lockdowns.
North America Dominates The Global Fintech Market While Asia-Pacific To Witness The Highest Growth During The Forecast Period.
Amidst the segmentation based on region, North America accounted for the largest market share owing to extensive R&D activities. On the other hand, the highest CAGR is anticipated to be exhibited by the Asia-Pacific on account of expanding customer base due to largest population share, especially of Gen Z and millennials, and openness to accept new technology, thereby presenting a huge market opportunity to convert from cash to digital payments. Other regions, like Latin America and Africa, are also emerging on the fintech scenario.
Competitive Landscape
The Fintech market is a fragmented market with numerous players serving the market. The key players dominating the global Fintech market are Ant Group Co. Ltd., Paypal Holdings, Inc., Tencent Holdings Ltd., Robinhood Markets, Inc., Google Payment Corp., One97 Communications Ltd., Adyen NV., Qudian Inc., Afterpay Limited, Nexi SpA, Klarna Bank AB, Social Finance, Inc, Avant, LLC, Bankable, Blockstream Corporation Inc., Circle Internet Financial Limited, Cisco Systems Inc., Goldman Sachs, IBM Corporation, Microsoft, NVIDIA Corporation, Oracle, Tata Consultancy Services Limited and other prominent players. The key marketing strategies adopted by the players are extensive investments in research and development, portfolio expansions, new and advanced product launches, geographical expansions collaborations, partnerships and acquisition to expand their customer reach.
Table of Contents
184 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
- 2.2. Quantitative Research
- 2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
- 2.4. Breakdown of Primary Research Respondents, By Region
- 2.5. Assumption & Limitation
- 3. Executive Summary
- 4. Global FinTech Market Insights
- 4.1. Industry Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
- 4.3. Technological Landscape/Recent Development
- 4.4. Regulatory Framework
- 4.5. Porter’s Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry
- 5. Global FinTech Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Deployment Mode
- 5.2.1.1. On-Premise
- 5.2.1.2. Cloud
- 5.2.2. By Application
- 5.2.2.1. Payment & Fund Transfer
- 5.2.2.2. Loans
- 5.2.2.3. Insurance & Personal Finance
- 5.2.2.4. Wealth Management
- 5.2.2.5. Others
- 5.2.3. By Technology
- 5.2.3.1. Application Programming Interface [API]
- 5.2.3.2. Artificial Intelligence [AI]
- 5.2.3.3. Blockchain
- 5.2.3.4. Robotic Process Automation
- 5.2.3.5. Data Analytics
- 5.2.3.6. Others
- 5.2.4. By End User
- 5.2.4.1. Banking
- 5.2.4.2. Insurance
- 5.2.4.3. Securities
- 5.2.4.4. Others
- 5.2.5. By Region
- 5.2.5.1. North America
- 5.2.5.2. Europe
- 5.2.5.3. Asia-Pacific
- 5.2.5.4. Latin America
- 5.2.5.5. Middle-East and Africa
- 6. North America FinTech Market
- 6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Deployment Mode
- 6.2.2. By Application
- 6.2.3. By Technology
- 6.2.4. By End User
- 6.2.5. By Country
- 6.2.5.1. United States
- 6.2.5.2. Canada
- 7. Europe FinTech Market
- 7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By
- 7.2.2. By End User
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. United Kingdom
- 7.2.3.3. Italy
- 7.2.3.4. France
- 7.2.3.5. Spain
- 7.2.3.6. Rest of Europe
- 8. Asia Pacific FinTech Market
- 8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Communication Infrastructure
- 8.2.2. By Core Network Technology
- 8.2.3. By Network Architecture
- 8.2.4. By Operational Frequency
- 8.2.5. By End User
- 8.2.6. By Country
- 8.2.6.1. China
- 8.2.6.2. India
- 8.2.6.3. Japan
- 8.2.6.4. South Korea
- 8.2.6.5. Rest of Asia Pacific
- 9. Latin America FinTech Market
- 9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Communication Infrastructure
- 9.2.2. By Core Network Technology
- 9.2.3. By Network Architecture
- 9.2.4. By Operational Frequency
- 9.2.5. By End User
- 9.2.6. By Country
- 9.2.6.1. Brazil
- 9.2.6.2. Mexico
- 9.2.6.3. Rest of Latin America
- 10. Middle East & Africa FinTech Market
- 10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Communication Infrastructure
- 10.2.2. By Core Network Technology
- 10.2.3. By Network Architecture
- 10.2.4. By Operational Frequency
- 10.2.5. By End User
- 10.2.6. By Country
- 10.2.6.1. Saudi Arabia
- 10.2.6.2. UAE
- 10.2.6.3. South Africa
- 10.2.6.4. Rest of Middle East & Africa
- 11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis, 2021
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. Key Strategic Development (Merger, Acquisition, Partnership.)
- 12. Impact of COVID-19 on FinTech Market Industry
- 13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 13.1. Ant Group Co. Ltd
- 13.2. Paypal Holdings, Inc.
- 13.3. Tencent Holdings Ltd.
- 13.4. Robinhood Markets, Inc.
- 13.5. Google Payment Corp.
- 13.6. One97 Communications Ltd.
- 13.7. Adyen NV.
- 13.8. Qudian Inc.
- 13.9. Afterpay Limited
- 13.10. Nexi SpA
- 13.11. Klarna Bank AB
- 13.12. Social Finance, Inc
- 13.13. Avant, LLC
- 13.14. Bankable
- 13.15. Blockstream Corporation Inc.
- 13.16. Circle Internet Financial Limited
- 13.17. Cisco Systems Inc.
- 13.18. Goldman Sachs
- 13.19. IBM Corporation
- 13.20. Microsoft
- 13.21. NVIDIA Corporation
- 13.22. Oracle
- 13.23. Tata Consultancy Services
- 13.24. Other Prominent Players
- 14. Key Strategic Recommendations
- List of Figures
- Figure 1 Global FinTech market Segmentation
- Figure 2 Global FinTech Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2028
- Figure 4 Global FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 5 Global FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 6 Global FinTech Market Share, By Application, By Value, 2018-2028
- Figure 7 Global FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 8 Global FinTech Market Share, By End User, By Value, 2018-2028
- Figure 9 Global FinTech Market Share, By Region, By Value, 2018-2028
- Figure 10 North America FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 11 North America FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 12 North America FinTech Market Share, By Application, By Value, 2018-2028
- Figure 13 North America FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 14 North America FinTech Market Share, By End User, By Value, 2018-2028
- Figure 15 North America FinTech Market Share, By Country, By Value, 2018-2028
- Figure 16 Europe FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 17 Europe FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 18 Europe FinTech Market Share, By Application, By Value, 2018-2028
- Figure 19 Europe FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 20 Europe FinTech Market Share, By End User, By Value, 2018-2028
- Figure 21 Europe FinTech Market Share, By Country, By Value, 2018-2028
- Figure 22 The Asia-Pacific FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 23 The Asia-Pacific FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 24 The Asia-Pacific FinTech Market Share, By Application, By Value, 2018-2028
- Figure 25 The Asia-Pacific FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 26 The Asia-Pacific FinTech Market Share, By End User, By Value, 2018-2028
- Figure 27 The Asia-Pacific FinTech Market Share, By Country, By Value, 2018-2028
- Figure 28 Latin America FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 29 Latin America FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 30 Latin America FinTech Market Share, By Application, By Value, 2018-2028
- Figure 31 Latin America FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 32 Latin America FinTech Market Share, By End User, By Value, 2018-2028
- Figure 33 Latin America FinTech Market Share, By Country, By Value, 2018-2028
- Figure 34 The Middle East & Africa FinTech Market Size, By Value (USD Million), 2018-2028
- Figure 35 The Middle East & Africa FinTech Market Share, By Deployment Mode, By Value, 2018-2028
- Figure 36 The Middle East & Africa FinTech Market Share, By Application, By Value, 2018-2028
- Figure 37 The Middle East & Africa FinTech Market Share, By Technology, By Value, 2018-2028
- Figure 38 The Middle East & Africa FinTech Market Share, By End User, By Value, 2018-2028
- Figure 39 The Middle East & Africa FinTech Market Share, By Country, By Value, 2018-2028
- List of Tables
- Table 1 Global FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 2 Global FinTech Market Size, By Application, By Value, 2018-2028
- Table 3 Global FinTech Market Size, By Technology, By Value, 2018-2028
- Table 4 Global FinTech Market Size, By End User, By Value, 2018-2028
- Table 5 Global FinTech Market Size, By Region, By Value, 2018-2028
- Table 6 North America FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 7 North America FinTech Market Size, By Application, By Value, 2018-2028
- Table 8 North America FinTech Market Size, By Technology, By Value, 2018-2028
- Table 9 North America FinTech Market Size, By End User, By Value, 2018-2028
- Table 10 North America FinTech Market Size, By Country, By Value, 2018-2028
- Table 11 Europe FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 12 Europe FinTech Market Size, By Application, By Value, 2018-2028
- Table 13 Europe FinTech Market Size, By Technology, By Value, 2018-2028
- Table 14 Europe FinTech Market Size, By End User, By Value, 2018-2028
- Table 15 Europe FinTech Market Size, By Country, By Value, 2018-2028
- Table 16 The Asia-Pacific FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 17 The Asia-Pacific FinTech Market Size, By Application, By Value, 2018-2028
- Table 18 The Asia-Pacific FinTech Market Size, By Technology, By Value, 2018-2028
- Table 19 The Asia-Pacific FinTech Market Size, By End User, By Value, 2018-2028
- Table 20 The Asia-Pacific FinTech Market Size, By Country, By Value, 2018-2028
- Table 21 Latin America FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 22 Latin America FinTech Market Size, By Application, By Value, 2018-2028
- Table 23 Latin America FinTech Market Size, By Technology, By Value, 2018-2028
- Table 24 Latin America FinTech Market Size, By End User, By Value, 2018-2028
- Table 25 Latin America FinTech Market Size, By Country, By Value, 2018-2028
- Table 26 The Middle East & Africa FinTech Market Size, By Deployment Mode, By Value, 2018-2028
- Table 27 The Middle East & Africa FinTech Market Size, By Application, By Value, 2018-2028
- Table 28 The Middle East & Africa FinTech Market Size, By Technology, By Value, 2018-2028
- Table 29 The Middle East & Africa FinTech Market Size, By End User, By Value, 2018-2028
- Table 30 The Middle East & Africa FinTech Market Size, By Country, By Value, 2018-2028
- Table 31 Ant Group Co. Ltd. Company Overview
- Table 32 Ant Group Co. Ltd. Financial Overview
- Table 33 Paypal Holdings, Inc. Company Overview
- Table 34 Paypal Holdings, Inc. Financial Overview
- Table 35 Robinhood Markets, Inc. Company Overview
- Table 36 Robinhood Markets, Inc. Financial Overview
- Table 37 Google Payment Corp. Company Overview
- Table 38 Google Payment Corp. Financial Overview
- Table 39 Adyen NV. Company Overview
- Table 40 Adyen NV. Financial Overview
- Table 41 Afterpay Limited Company Overview
- Table 42 Afterpay Limited Financial Overview
- Table 43 Nexi SpA Company Overview
- Table 44 Nexi SpA Financial Overview
- Table 45 Klarna Bank AB Company Overview
- Table 46 Klarna Bank AB Financial Overview
- Table 47 Social Finance, Inc Company Overview
- Table 48 Social Finance, Inc Financial Overview
- Table 49 Avant, LLC Company Overview
- Table 50 Avant, LLC Financial Overview
- Table 51 Bankable Company Overview
- Table 52 Bankable Financial Overview
- Table 53 Blockstream Corporation Inc. Company Overview
- Table 54 Blockstream Corporation Inc. Financial Overview
- Table 55 Circle Internet Financial Limited Company Overview
- Table 56 Circle Internet Financial Limited Financial Overview
- Table 57 Cisco Systems Inc. Company Overview
- Table 58 Cisco Systems Inc. Financial Overview
- Table 59 Goldman Sachs Company Overview
- Table 60 Goldman Sachs Financial Overview
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