Fintech Global Market to Reach $385.93 Billion by 2027 at a CAGR of 19.71%

DUBLIN, November 28, 2022 /PRNewswire/ — Added the Fintech Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 report Offer.

Reached the global fintech market size $131.14 billion in 2021. Looking ahead, the publisher expects the market to be reached $385.93 billion to 2027 with a CAGR of 19.71% over 2021-2027. Taking into account the uncertainties of COVID-19, we continuously track and assess the direct and indirect impact of the pandemic on various end-use sectors. These insights are included in the report as a key market contribution.

Fintech or financial technology involves the integration of technology with financial services to enhance or automate banking and investment operations. It includes retail banking, education, wealth management, insurance investing, fundraising, digital lending, credit scoring, and mobile banking. Fintech helps companies, business owners and consumers better manage their financial processes by using specialized software and algorithms on smartphones and computers. It also employs various technologies such as artificial intelligence (AI), machine learning, and robotic processing automation (RPA) to automate and enhance the delivery of financial services. Compared to traditional banking, fintech is more cost-effective, offers improved risk management, streamlines financial operations and enables faster payments.

Fintech Market Trends:

The rapid digitization of the banking, financial services and insurance (BFSI) industries around the world creates a positive outlook for the market. Fintech is transforming the banking system by increasing productivity and customer loyalty through speed and convenience. Accordingly, the widespread adoption of technologies to process large amounts of data in a short time, increase efficiency and minimize the chance of human error is conducive to market growth.

Apart from this, the integration of fintech solutions with artificial intelligence (AI) to detect and prevent fraud in digital banking channels is impetus for the market growth. Accordingly, the fintech’s use of machine learning (ML), big data and evolutionary algorithms to detect unusual activities and improve financial transaction monitoring, voice recognition, risk management and secured network access to the banking institutions are positively impacting the market growth. Other factors, including increased cooperation between national regulators and financial institutions, extensive research and development (R&D) activities and the implementation of various government initiatives to expand the fintech sector, support the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global Fintech market report, as well as forecasts at global, regional and country level from 2022 to 2027. Our report has categorized the market based on deployment mode, technology, application and end-user.

Separation by deployment mode:

Separation by technology:

  • programming interface
  • Artificial intelligence
  • Blockchain
  • Robotic process automation
  • data analysis
  • Other

Separation by application:

  • payment and transfer
  • loan
  • Insurance and personal finance
  • wealth management
  • Other

Separation by end users:

  • banking
  • insurance
  • securities
  • Other

Breakdown by region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Other
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Other
  • Latin America
  • Brazil
  • Mexico
  • Other
  • middle East and Africa

Main topics covered:

1 Introduction

2 Scope and methodology

3 Summary

4 Introduction

5 Global Fintech Market

6 Market Segmentation by Delivery Mode

7 Market split by technology

8 Market Split by Application

9 Market Split by End User

10 Market Split by Regions

11 SWOT analysis

12 Analysis of the value chain

13 Porter’s Five Forces Analysis

14 Price Analysis

15 competitive landscape

companies mentioned

  • Adyen NV
  • Afterpay Limited (Block Inc.)
  • Avant LLC
  • Cisco Systems Inc.
  • Google Payment Corp.
  • International Business Machines Corporation
  • Klarna Bank AB
  • Microsoft Corporation
  • Nvidia Corporation
  • Oracle Corporation
  • Paypal Holdings Inc
  • Robinhood Markets Inc.
  • SoFi Technologies Inc
  • Tata Consulting Services.

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SOURCE Research and Markets