The ‘Global Fintech Market Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global fintech market, assessing the market on the basis of its segments like deployment mode, technology, application, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 194.1 billion
- Forecast CAGR (2023-2028): 16.8%
- Forecast Market Size (2028): USD 492.81 billion
Get a Free Sample Report with Table of Contents: https://www.expertmarketresearch.com/reports/fintech-market/requestsample
The rising penetration of the internet and growing demand for smartphones all across the globe is increasing the rate of adoption of cashless transaction methods which is aiding in the growth of the fintech market globally. Governments of various countries are promoting the use of fintech in order to improve financial inclusion, to open applications programming blockchains and interfaces, and to increase operational efficiencies with the help of technology. They are increasingly investing in the fintech technology with an aim to help the digital economy to grow which will ultimately result in the growth of the market for fintech.
Rise in literacy rate and growing number of tech savvy youths are also contributing to the growth of the fintech market. Various end users globally are adopting fintech it makes data easily accessible in digital format and also offers specific financial services and products based on the needs of customers. The technology allows customers and businesses to transfer money to another account in different currencies without charging high conversion fees. Moreover, fintech also facilitates better and more reliable customer experiences which is further increasing its demand from various companies leading to the overall growth of the fintech market.
Industry Definition and Major Segments
Fintech refers to the usage of technology in financial applications, using specialised algorithms and software to help individual consumers, business owners, and other companies manage their finances with the help of technology. The technology can be used to automates investments, improve risk management, streamline insurance, and optimise trading, among other uses, and also provide insights into finances.
Based on deployment mode, the market is bifurcated into:
On the basis of technology, the market is classified into:
- Application Programming Interface (API)
- Artificial Intelligence
- Robotic Process Automation
- Data Analytics
By application, the market is divided into:
Based on region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/fintech-market
Fintech Market Trends
The key trends in the global fintech market include the rising adoption of latest technologies by fintech companies in order to improve features, applicability, and user friendliness. The increasing competition in the financial sector is leading to more companies adopting fintech to gain an edge in the market. The growing e-commerce sector and rising demand for digital transaction applications such as PayPal, Google Pay, and Venmo, among others are also increasing the demand for fintech. Various fintech companies are also adopting innovative technologies to prevent financial fraud and cybercrime which are on the rise and can pose significant risks to medium and large enterprises.
North America accounts for a large share of the global fintech market owing to the growing adoption of fintech technology in countries such as the United States due to the benefits of fintech such as convenience, simplicity, personalisation, security, and transparency. Presence of prominent key players and the growing adoption of fintech in various applications is further fuelling the growth of the market for fintech in North America. The region is increasingly adopting advanced technological solutions in order to provide better security to financial data and records of individuals and companies. Meanwhile, the Asia Pacific region is expected to observe significant growth in the market for fintech during the forecast period, supported by rising investments by key players to improve capabilities in the face of rising competition.
Key Market Players
The major players in the global fintech market report are PayPal Holdings, Inc., Ant Group, Stripe, Inc., Intuit Inc., Adyen Group, Coinbase, Square Capital, LLC, Avant, LLC, Klarna Bank AB, and Nu Pagamentos S.A, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.
Company Name: Claight Corporation
Contact Person: Tom Anderson, Corporate Sales Specialist – U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA