Global Fintech Market

Global Fintech Market Size, Trends, and Analysis - Forecasts to 2026 By Technologies (Internet of Things (IoT), Artificial Intelligence, 5G, Big Data, Blockchain, Open Banking, Other Technologies), By Service Propositions (Money Transfer and Payments, Savings and Investments, Digital Lending, Insurance, Others), By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Company Market Share Analysis & Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology
Format
  • ms word
  • ms excel
  • ms ppt
  • pdf
This report was recently updated on February 19 2024 with the latest and most recent market numbers

Global Fintech Market: Insights

Substantial investment in technology-based offerings by banks and enterprises is a fundamental driver of the fintech market's advancement. Furthermore, infrastructure-based technologies and APIs are transforming the landscape of the financial services sector, contributing to the expansion of the global fintech market. Additionally, as a result of increasing technological breakthroughs, financial technology businesses are supplying low-cost customized goods, leading to increased client expectations and, as a result, driving global market development. Steadily increasing involvement in fintech businesses, growing internet penetration, and an increasing discretionary income will boost the fintech market. Moving, ahead, the market is likely to be driven by the rising prevalence of digital payments, increased expenditures on blockchain technology owing to its high effectiveness in data management, the accelerating expansion of e-commerce, and the repercussions of COVID-19.

Big tech businesses such as Google, Amazon, Facebook, and Apple are pursuing financial services are boosting the expansion of the FinTech business. Large Internet companies keep adding supplementary banking services to their existing offers rather than pursuing full-stack banking. As a result, significant IT businesses focused on financial services are projected to have a favorable influence on the expansion of the FinTech business.

Today, many companies worldwide are adopting digitalized systems and digitalized currencies like cryptocurrencies, bitcoins, and blockchains. This has opened up the gates for many new fintech companies to emerge into the market, thus enhancing the transactional and technological evolutions. Technologically driven automated services have also led to time management and time-efficient activities. Day-to-day transactional activities and company procedures have become much faster with the application of fintech to daily work, thus saving time and money. The initial long procedures to secure a loan or lend money after standing for an hour-long queue have been replaced by fintech, thus enabling flexibility to the end-users, to carry out these financial activities at their convenience and requirement. Net banking, mobile banking apps, e-commerce, and online international money transfers have also accelerated the demand for fintech companies within the global market.

With trending technologies, advancements, and shockingly increasing growth rates, no market can escape negative impacts, thefts, and losses; companies and banking institutions are highly exposed to financial losses due to the rising cyber-crime. Fintech companies collect a tremendous amount of sensitive/private as well as commercial data for market and consumer behavior research. This leads to cyber-attacks, hacks, and leaks of data, which are becoming a constant challenge for companies to handle. Thus, financial security for companies has become an important aspect for the fintech industry to look into.

global fintech market

Global Fintech Market: By Technologies

The fintech market has expanded its services to end-users by utilizing various technologies, like the internet of things (IoT), artificial intelligence, 5G, big data, blockchain, open banking, and other technologies. Artificial intelligence (AI) has become one of the leading and extremely efficient technologies to deliver customer-friendly services. AI is the latest viral word in the financial technology and banking industry. In recent years, all fintech companies across the world have adopted AI into their systems, like a bandwagon effect.

Artificial intelligence enables fintech companies to manage highly unorganized and unstructured data, enabling them to handle and manage risks proficiently. AI also enables companies to analyze a cluster of various kinds of data, like images, locations, transactional records, and others, to be able to understand consumer preferences, behaviors and predict their future strategies. This ability of AI to analyze and predict future consumer choices and behaviors can be very beneficial for the fintech industry to strategize its market plans and operational activities. Fintech companies manage to deliver excellent customer service facilities through AI which brings in features like an AI chatbox and 24/7 available personalized assistance to the end-users.

Global Fintech Market: By Service Proposition

Financial technology or Fintech is used by various industries, commercial companies, and others for different kinds of service propositions, like money transfer and payments, savings and investments, digital lending, insurance, and others. Insurance is foreseen to lead. For the past two to three years, the insurance industry has been a huge part of the fintech industry contributing tremendously to its growth.  Application of Fintech (financial technologies) like AI, big data, the Internet of Things, and 5G have assisted the insurance industry to improve their services and increase their potential. It ensures improvement and efficiency in insurance services, cost-effectiveness and reduction, and better customer facilities.  With the adoption of fintech in banking institutions, money transfer and payment services are also showcasing improved results. Online applications and apps on smartphones have simplified money transfers and payments across various mediums. Fintech has also brought in various modes of payment and money transfers, like Google Pay, PayPal, iDEAL, and others.

asia pacific fintech market

Global Fintech Market: By Region

Asia-Pacific region certainly holds its dominance in the Fintech market compared to the other regions in the world. Countries in the Asia-Pacific region are the biggest focal points for the emerging fintech industries. Countries like India and China are the largest markets for the IT industry. IT industry being foremost in the adoption of fintech adds up to the APAC region’s growth. Singapore, a country in south-east Asia is the core of some of the biggest fintech companies, as well as it is the most preferred market by the new budding fintech industries to bring their start-ups.

Despite the COVID-19 pandemic and losses across the world, the year 2020 has been one of the remarkable years for the fintech industry in the Asia-Pacific region. This year witnessed a tremendous number of shifts from manual operations to financial technology-driven transactional operations within various industries. The government in countries like India has been the biggest promoters of the fintech and digital economy. APAC countries have received huge investments and funds from both private as well as public investors within the last few years. With such an expanding market, consumers are also getting acquainted with financial technology and are increasing their usage of online transactional activities.

North America is at the forefront of technological evolution, with a considerable amount of capital gained by startups, of which FinTech is a prominent part. The area is also transitioning from digital payments to financing, with a considerable proportion of lender collaboration as a component of the digital inspection administration.

Global Fintech Market: By Share & Competitor Analysis

Avant, Ant Financial, Adyen, Zhong An, Qidian, Xero, Lufax, Klarna, SoFi, and Oscar Health are some of the prominent players in the market.        

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview And Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Global Fintech Industry Overview, 2019-2026

2.1.1    Industry Overview

2.1.2    Technologies Overview

2.1.3    Service Propositions Overview

2.1.4    Regional Overview

Chapter 3   Global Fintech Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2019-2026

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Increasing Penetration of Blockchain in Various Sectors

3.3.1.2    Growing Demand for Mobile Banking Applications

3.3.2    Industry Challenges

3.3.2.1    Consumer Data Security Concerns

3.4    Prospective Growth Scenario

3.4.1    Technologies Growth Scenario

3.4.2    Service Propositions Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Technology Overview

3.11    Market Share Analysis, 2020

3.11.1    Company Positioning Overview, 2020

Chapter 4   Global Fintech Market, By Technologies

4.1    Technologies Outlook

4.2    Internet of Things (IoT)

4.2.1    Market Size, By Region, 2019-2026 (USD Million)

4.3    Artificial Intelligence

4.3.1    Market Size, By Region, 2019-2026 (USD Million)

4.4    5G

4.4.1    Market Size, By Region, 2019-2026 (USD Million)

4.5    Big Data

4.5.1    Market Size, By Region, 2019-2026 (USD Million)

4.6    Blockchain

4.6.1    Market Size, By Region, 2019-2026 (USD Million)

4.7    Open Banking

4.7.1    Market Size, By Region, 2019-2026 (USD Million)

4.8    Other Technologies

4.8.1    Market Size, By Region, 2019-2026 (USD Million)

Chapter 5   Global Fintech Market, By Service Propositions

5.1    Service Propositions Outlook

5.2    Money Transfer and Payments

5.2.1    Market Size, By Region, 2019-2026 (USD Million)

5.3    Savings and Investments

5.3.1    Market Size, By Region, 2019-2026 (USD Million)

5.4    Digital Lending

5.4.1    Market Size, By Region, 2019-2026 (USD Million)

5.5    Insurance

5.5.1    Market Size, By Region, 2019-2026 (USD Million)

5.6    Others

5.6.1    Market Size, By Region, 2019-2026 (USD Million)

Chapter 6   Global Fintech Market, By Region

6.1    Regional outlook

6.2    North America

6.2.1    Market Size, By Country 2019-2026 (USD Million)

6.2.2    Market Size, By Technologies, 2019-2026 (USD Million)

6.2.3    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.2.4    U.S.

6.2.4.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.2.4.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.2.5    Canada

6.2.5.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.2.5.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3    Europe

6.3.1    Market Size, By Country 2019-2026 (USD Million)

6.3.2    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.3    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.4    Germany

6.2.4.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.2.4.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.5    UK

6.3.5.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.5.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.6    France

6.3.6.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.6.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.7    Italy

6.3.7.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.7.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.8    Spain

6.3.8.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.8.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.3.9    Russia

6.3.9.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.3.9.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.4    Asia Pacific

6.4.1    Market Size, By Country 2019-2026 (USD Million)

6.4.2    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.3    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.4.4    China

6.4.4.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.4.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.4.5    India

6.4.5.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.5.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.4.6    Japan

6.4.6.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.6.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.4.7    Australia

6.4.7.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.7.2    Market size, By Service Propositions, 2019-2026 (USD Million)

6.4.8    South Korea

6.4.8.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.4.8.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.5    Latin America

6.5.1    Market Size, By Country 2019-2026 (USD Million)

6.5.2    Market Size, By Technologies, 2019-2026 (USD Million)

6.5.3    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.5.4    Brazil

6.5.4.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.5.4.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.5.5    Mexico

6.5.5.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.5.5.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.5.6    Argentina

6.5.6.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.5.6.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.6    MEA

6.6.1    Market Size, By Country 2019-2026 (USD Million)

6.6.2    Market Size, By Technologies, 2019-2026 (USD Million)

6.6.3    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.6.4    Saudi Arabia

6.6.4.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.6.4.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.6.5    UAE

6.6.5.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.6.5.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

6.6.6    South Africa

6.6.6.1    Market Size, By Technologies, 2019-2026 (USD Million)

6.6.6.2    Market Size, By Service Propositions, 2019-2026 (USD Million)

Chapter 7   Company Landscape

7.1    Competitive Analysis, 2020

7.2    Avant

7.2.1    Company Overview

7.2.2    Financial Analysis

7.2.3    Strategic Positioning

7.2.4    Info Graphic Analysis

7.3    Ant Financial

7.3.1    Company Overview

7.3.2    Financial Analysis

7.3.3    Strategic Positioning

7.3.4    Info Graphic Analysis

7.4    Adyen

7.4.1    Company Overview

7.4.2    Financial Analysis

7.4.3    Strategic Positioning

7.4.4    Info Graphic Analysis

7.5    Zhong An

7.5.1    Company Overview

7.5.2    Financial Analysis

7.5.3    Strategic Positioning

7.5.4    Info Graphic Analysis

7.6    Qidian

7.6.1    Company Overview

7.6.2    Financial Analysis

7.6.3    Strategic Positioning

7.6.4    Info Graphic Analysis

7.7    Xero

7.7.1    Company Overview

7.7.2    Financial Analysis

7.7.3    Strategic Positioning

7.7.4    Info Graphic Analysis

7.8    Lufax

7.8.1    Company Overview

7.8.2    Financial Analysis

7.8.3    Strategic Positioning

7.8.4    Info Graphic Analysis

7.9    Klarna

7.9.1    Company Overview

7.9.2    Financial Analysis

7.9.3    Strategic Positioning

7.9.4    Info Graphic Analysis

7.10    SoFi

7.10.1    Company Overview

7.10.2    Financial Analysis

7.10.3    Strategic Positioning

7.10.4    Info Graphic Analysis

7.11    Oscar Health

7.11.1    Company Overview

7.11.2    Financial Analysis

7.11.3    Strategic Positioning

7.11.4    Info Graphic Analysis

7.12    Other Companies

7.12.1    Company Overview

7.12.2    Financial Analysis

7.12.3    Strategic Positioning

7.12.4    Info Graphic Analysis

The Global Fintech Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Fintech Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

We value your investment and offer free customization with every report to fulfil your exact research needs.
This website is secure and your personal details are safe. Privacy
You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The global fintech market size is projected to grow at a CAGR of 23.7% during the forecast period (2021-2026).
Key and innovative vendors in the fintech market include Avant, Ant Financial, Adyen, Zhong An, Qidian, Xero, Lufax, Klarna, SoFi, and Oscar Health.
The Asia Pacific region is estimated to hold the highest market share in the fintech market.
Globally, Covid-19 impact on the future fintech market will be quite significant for the manufacturers since demand has fluctuated owing to lockdown in key nations throughout the world. The Asia Pacific region would be leading because of the huge investments and funds from both private as well as public investors. Subsequently, North America will be growing the fastest because the area is transitioning from digital payments to financing, with a considerable proportion of lender collaboration as a component of the digital inspection administration.
The major driving factors for the fintech market include the rising investment in technology-based offerings by banks and enterprises; growing infrastructure-based technologies and APIs are transforming the landscape of the financial services sector; rising supply of low-cost customized goods; increasing involvement in fintech businesses; growing internet penetration; increasing discretionary income; rising prevalence of digital payments; expanding expenditures on blockchain technology owing to its high effectiveness in data management.

Tailor made solutions just for you

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

OUR CLIENTS

  • Client of Global Market Estimates - Fedex
  • Client of Global Market Estimates - Samsung
  • Client of Global Market Estimates - Siemens
  • Client of Global Market Estimates - Lonza
  • Client of Global Market Estimates - DuPont
  • Client of Global Market Estimates - Medtronic
  • Client of Global Market Estimates - Toray
  • Client of Global Market Estimates - Signify
  • Client of Global Market Estimates - Teledyne
  • Client of Global Market Estimates - Trelleborg
  • Client of Global Market Estimates - Kikkoman Biochemifa
  • Client of Global Market Estimates - Leoni
  • Client of Global Market Estimates - Molnlycke
  • Client of Global Market Estimates - Spirent
  • Client of Global Market Estimates - Tokyo Electron Limited
  • Client of Global Market Estimates - Aranca
  • Client of Global Market Estimates - Asahi Kasei
  • Client of Global Market Estimates - Chimai
  • Client of Global Market Estimates - Grapsud
  • Client of Global Market Estimates - Horiba
  • Client of Global Market Estimates - Indorama
  • Client of Global Market Estimates - L&T
  • Client of Global Market Estimates - Integralife
  • Client of Global Market Estimates - Synamedia
  • Client of Global Market Estimates - Sorrento Therapeutics
  • Client of Global Market Estimates - Solenis
  • Client of Global Market Estimates - Sartorius