DALLAS, Texas, September 20, 2022 (GLOBE NEWSWIRE) — Global fintech (financial technology) market It is estimated at $110.59 billion in 2020 and is expected to grow to $699.5 billion by 2030, at a CAGR of 20.5%.
The global fintech (financial technology) market is expected to be driven by the growing customer demand for e-commerce and mobile banking platforms that offer a more user-friendly financial trading environment. The need for fintech among businesses is expected to grow as banks and insurance companies increasingly replace outdated operating systems with cutting-edge technology. To maintain market dominance and provide cutting-edge financial technology solutions, investors work with wealth management solution providers. Fintech solution providers may anticipate a range of opportunities from this. Fintech is increasingly leveraging technologies that improve efficiency, agility, and accuracy, such as blockchain, robotic process automation, application programming interfaces (APIs), and data analytics.
The global fintech (financial technology) market is poised to benefit in the coming years from increased adoption of digital payments, investment in technology-based solutions, supportive government regulation, and increased use of IoT devices. Expected. The growing use of e-commerce platforms across the economy and the growing use of smartphones are paving the way for more fintech transactions. Examples of these innovations include mobile wallets, digitized money, and paperless loans. To enhance the financial services offered, financial businesses are offering mobile-based financial apps. This allows us to reach out to more clients and increase awareness of our online services. As the need for e-commerce apps grows among users, solution providers have turned to providing economically secure e-commerce platforms.
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Global Fintech Market Scope:
| index | detail |
| study period | 2019-2030 |
| Market size in 2030 | US$699.5 billion |
| Target segment | By Technology, By Deployment, By Application, By Region, |
| By target technology | Artificial Intelligence, Blockchain, Application Programming Interfaces, Distributed Computing, Data Analytics, Robotic Process Automation, etc. |
| Deployment target | on-premises, cloud-based), services (remittance, payments, personal finance, insurance, loans, wealth management) |
| Target application | Insurance, Banking, Securities, Others |
| Target area | North America, Europe, Asia Pacific, Middle East, Africa, South America |
| Key Player Profiles | Ant Financial, Oracle, Microsoft, IBM Corporation, Goldman Sachs, Cisco Systems, Blockstream Corporation, Bankable, NVIDIA Corporation, Tata Consultancy Services, Qudian, Sofi Lufax, Avant, Klarna and more. |
According to the end-use industry, the banking segment held the largest market share in 2020 and is expected to continue to dominate the market during the forecast period. Startups and banks are developing various payment modes and e-wallets in this space to support their services and provide a better and faster customer experience.
The adoption of e-commerce solutions and the growing need for cutting-edge technology solutions that provide security to users’ financial data and records has made North America a significant portion of the global fintech (financial technology) market. I was. During the forecast period, the Asia-Pacific fintech market is expected to expand rapidly due to increasing investment by major players to provide solutions across the region.
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For example, as major venture capital investors, Tencent and Allianz Insight invested €524 million in FinTech Company N 26 as late-stage venture capital investments in May 2020. The mobile banking platform is operated by N26. The investment here was his second largest venture capital investment in the European fintech sector.
In addition, Allianz Group’s corporate venture capital is another important investment in the fintech market in 2020. Allianz X aims to invest in digital growth businesses that are part of the insurance ecosystem. That latest investment was his BIMA. Santander Group’s Mouro Capital CVC is seeking a handful of investments in seed, early and late stage businesses, the latest of which is Uncapped.
Contents points:
1.First of all
2. Survey method
3. Market Outlook
4. Fintech Market by Technology, 2019-2029 (USD Billion)
5. Fintech Market by Deployment, 2019-2029 (USD Billion)
6. Fintech Market by Service, 2019-2029 (USD Billion)
7. Fintech Market by Application, 2019-2029 (USD Billion)
8. Fintech by Region 2019-2029 (USD Billion)
9. Competitive environment
10. Company Profile
11. Appendix
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