FinTech Market Overview Analysis:
FinTech Market size is expected to reach USD 330 billion by the end of 2027, with growth at a CAGR of 24% during the forecast period 2022-2027. FinTech (Financial technology) is the application of innovative technological enhancements to products and services in the financial industry and focuses on automating and improving the utilization of financial services.
FinTech Market Growth Opportunity
As FinTech allows producing convenience services & helping maintain transparency, in terms of monetary inclusions, it’s become one of the key driving forces of the market. Additionally, several financial bodies are implementing advanced technologies to produce integrated & value-added services to customers and an increasing number of collaborations between national regulators & financial institutions are major aspects that boost the growth of the fintech market.
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However, privacy & security concerns, because of the massive movement of consumer data and varied & conflicting regulations across different jurisdictions hamper the growth of the market. Growing economies produce significant chances for fintech technology firms to enhance their assistance, due to factors like development in the middle-class segment, speedy urbanization, increase in literacy level, and rise in the tech-savvy youth generation.
Acceptance of fintech services has developed at a swift rate in the last few years amongst clients. Fintech help SMEs achieve their financial requirements, such as banking and payments, financial management, financing, and insurance.
Cybersecurity is becoming a disturbing challenge in information technology. Firms are at risk of financial loss due to cyber-attacks, so they invest a lot in FinTech. FinTech not only ensures the security of financial information but also instills suitable transactions, leading to soft operations and perfect cash flow in the financial system.
FinTech Market Detailed Segmentation:
- Data Analytics
- Artificial intelligence
- Robotic process automation
- Biometric and Identity management
- Fund Transfer
- Personal Finance
- Personal Loans
- Wealth Management
Geographical Classification of the Global Market:
- North America – USA, and Canada
- Europe – Germany, Italy, France, London, UK, and the Rest of the European countries
- Asia Pacific – India, China, Japan, Australia, and the rest of the APAC Countries
- Latin America – Mexico, Brazil, and Argentina
- The Middle East and Africa – KSA, UAE, Middle East countries, and South Africa
Regional Insights Analysis:
North America region was the largest region in the global FinTech market, accounting for 40.5% of the global fintech market in 2019. It was followed by the Asia Pacific region, Western Europe region, and other regions. Coming the future, the speedy growing regions in the FinTech industry will be Asia-Pacific and South America, where growth will be at CAGRs of 134% and 12.2% correspondingly.
Key Players Covered in the Global Market Report:
Some of the key companies covered in the global market report are; PayPal Holdings, Inc, Ant Financial Services Group, Tencent Holdings Ltd., Square, Inc, Envestnet, Inc, Stripe, Coinbase Inc, Robinhood Markets Inc, Ripple Labs Inc, Social Finance Inc, Credit Karma Inc, Circle Internet Financial Inc, Plaid Technologies Inc, Avant LLC, and Gusto.
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The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of Fintech Market segmentation By Technology, service, By Application, and country, highlighting the key commercial assets and players.
- By Technology
- By Service
- By Application
- By End-User
- Identify commercial opportunities in the Market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
- Excel data sheet with thousands of Market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
Additional Benefits Post Purchase:
- Unlimited Analyst support for a period of 1 year.
- Any query regarding the scope offered will be addressed within 24- 48 hours.
- An excel sheet with market numbers will be provided separately.
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To view the original version on ABNewswire visit: FinTech Market Will Grow at 24% During Forecast Period 2022-2029 | Global Industry Insights on Company Profiles, Regional and Country Level, Growth Revenue Share Forecast Report 2022-2029
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