Fintech Market Size, Product Launch, Major Companies, Revenue Analysis, Till 2028
Rising Internet in various processes, and implementation of Artificial Intelligence and blockchain technologies are some key factors driving market revenue growth
Market Size – USD 100.09 Billion in 2020, Market Growth –
at a CAGR of 8.5%, Market Trends – Increasing adoption of smartphones and
banking apps
The global Fintech
Market size is expected to reach USD 190.80 Billion in 2028 and
register a CAGR of 8.5% over the forecast period, according to the latest
report by Reports and Data. Major factors driving market revenue growth are
rising demand for smartphones and banking apps, increasing investment by
private investors in fintech companies, rapid Internet penetration,
implementation of Artificial Intelligence (AI) and blockchain technologies
across various operations and processes, and increasing disposable income.
Fintech or financial technology is a combination of financial solutions and
advanced technologies. Fintech is based on advanced technologies and solutions
for delivering value-added banking and financial solutions more efficiently.
Financial organizations and banks are using various technologies and solutions
such as AI, analytics, blockchain, mobile commerce, cloud infrastructure,
cryptography, biometrics, cybersecurity, and RPA to offer more advanced and
effective financial solutions and to improve their customer experience.
Some key applications of fintech are retail banking, stock
trading firms, investment banking, hedge funds, and others. Retail banking
segment accounted for largest revenue share in the global market in 2020. This
can be attributed to rising preference for retail banking due to its many
advantages, including multiple product offering such as deposits, insurance,
credit cards securities, and investments, availability of feasible loan
options, and public wealth safety.
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Some major players in the market include Microsoft, Paytm, Google, IBM,
Intel, Affirm, Upstart, Sigmoidal, Zest Finance, and Amazon.
Some Key Highlights From the Report:
- In
July 2021, Hay launched a cloud native microservice, Hay-as-a-Service’
(HaaS) solution. This service is designed to offer quick, secure and
customizable financial services processing for financial and non-financial
organizations.
- AI
segment is expected to register relatively faster revenue CAGR throughout
the forecast period. This can be attributed rising preference for AI
technology due to various advantages such as quick and easy access of
large algorithms, risk detection, secure operation, and others.
- North
America is expected to register significant revenue growth over the
forecast period. Increasing use of e-Commerce platforms and rising
preference for technologically advanced solutions for providing enhanced
security to financial data and records of users are some major factors
driving revenue growth of the market in this region.
- Some
major players in the market include Microsoft, Paytm, Google, IBM, Intel,
Affirm, Upstart, Sigmoidal, Zest Finance, and Amazon.
To identify the key
trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/fintech-market
For the purpose of this report, Reports and Data has
segmented the fintech market based on technology, services, application, and
region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Artificial
Intelligence (AI)
- Analytics
- Blockchain
- Mobile
Commerce
- Cloud
Infrastructure
- Cyrptography
- Biometrics
- Cyber
Security
- RPA
- Others
Services Outlook (Revenue, USD Billion; 2018-2028)
- Payments
- Wealth
Management
- Fund
Transfer
- Personal
Loans and P2P Lending
- personal
Finance
- Insurance
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Retail
Banking
- Stock
Trading Firms
- Investment
Banking
- Hedge
Funds
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
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Table of Content:
- Market Overview
- Competition Analysis by Players
- Company (Top Players) Profiles
- Global Fintech market Size by Type and Application
- Global Fintech market Status and Outlook
- Global Fintech market Status and Outlook
- Market Development Status and Outlook
- Market Status and Outlook
- Market Analysis 2020, Industry Revenue 2020
- Market Projections, Market Status and Outlook
- Market Forecast by Region, Type, and Application
- Market Dynamics
- Market Effect Factor Analysis
- Research Finding/ Conclusion
- Appendix.
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