Global Fintech Market- Market Overview:

The global fintech market is expected to grow from USD 145.6 billion in 2022 to USD 942.7 billion by 2030, at a CAGR of 26.3% during the Projection period 2023-2030. The growth of this market is mainly driven owing to rapid digitalization and urbanization.

In Fintech, financial services are delivered through software, such as online banking, mobile payment apps, and even cryptocurrencies. Fintech is a broad category encompassing a wide range of technologies, but its primary objective is to compete with traditional financial services and change how consumers and businesses access their finances. It is driven, in part, by the fact that many traditional banks are supporters and adopters of fintech, actively investing in, acquiring, or partnering with fintech startups. In this way, established banking institutions are able to keep relevant and move forward while giving digitally minded customers what they want. Fintech is expected to grow significantly in the near future due to government initiatives to boost the economy through digitization and automation. A combination of rapid urbanization and rising data literacy worldwide is expected to lead to market growth. The fintech market will also be driven by increased collaboration between regulatory authorities and financial institutions to protect consumer rights and interests. Market growth will be further boosted by the growing integration of artificial intelligence and machine learning technologies. A customer-centric approach can be built with the help of artificial intelligence, which can enhance security, reduce human error through automation, and help to create checks and balances, which would reduce the risk of misappropriation and increase compliance rates.

Sample Request: - Global Fintech Market

Market Dynamics:

Drivers:                          

• Rapid digitalization

Increasing urbanization, smart technology adoption, and internet penetration have contributed to the increasing popularity and demand for digital financial services like mobile banking and digital payments. As a result, businesses must adapt and integrate technology into their operations. Digitization offers businesses faster and more customer-centric services, which is boosting market growth.

Restraints:                                             

• Lack of uniformity in regulations

Regulatory guidelines have been developed by governments & banking authorities in response to the rising adoption of fintech in economies across the world. Different governments have established different policies, and the lack of uniformity in regulations resulting from conflicting guidelines can limit the growth of the market. Since financial services are an integral part of today's global economy, the absence of universal regulatory guidelines hinders cross-border operability.

Opportunities:

• Rising cases of cyber—crimes

In light of the global economic boom, the information and communication technology industry have a lot of room to grow. With the rise of organizational data, cybercriminals are growing in number. This could harm an organization's reputation and manipulate the records, resulting in further opportunities for growth.

Challenges:

• Complexities associated with cloud-based deployment mode

A cloud-based deployment model's complexity will hinder the market growth. Further, the market's growth rate will be further hindered by the fact that it is only used by large companies, further delaying its growth. The market will also face growth restraints due to a lack of awareness in underdeveloped regions and high deployment costs.

Segmentation Analysis:

The global fintech market has been segmented based on deployment type, services, end-user, and region.

By Deployment Type

The deployment type segment includes cloud and on-premises. The on-premises segment led the largest share of the fintech market with a market share of around 59% in 2022. This segment dominated the market in 2021 with a market share of around 59%. On-premises deployments offer greater flexibility, reliability, and security due to the greater flexibility, reliability, and security they provide.

By Services

The services segment includes insurance, payments & fund transfers, loans, personal finance and others. The payments & fund transfers segment led the largest share of the fintech market with a market share of around 28.9% in 2022. The payments and fund transfer segment dominated the global market in 2021 and will keep on dominating the market during the Projectioned period. This segment will be driven by the increasing demand for mobile-based banking services that allow fund transfers & payments. The growth of the segment will be significantly impacted by technological developments and innovations that enable seamless and secure payments.

By End-User

The end-user segment includes securities, banking, insurance and others. The banking segment led the largest share of the fintech market with a market share of around 34% in 2022. In 2021, the insurance intermediaries business dominated the travel insurance market industry due to its direct collaboration with numerous hotel chains and airlines to offer top-notch customer service throughout the country. It is predicted that this dominance will continue throughout the Projection period as well.

Global Fintech Market- Sales Analysis.

The sale of fintech expanded at a CAGR of 25.8% from 2016 to 2022.

In response to the increasing number of strategic market collaborations, more funds have been allocated to develop and grow advanced and automated technology/ machinery to combat fraud. Further, a growth in research and development investments would open the door to innovation in the field.

By using advanced technologies, customers & enterprises are able to customize services. In addition, new advancements have reduced the cost of operating institutions, improved their efficiency, and increased compliance rates. Fintech adoption across industries will be sparked by these benefits and will generate lucrative opportunities for the market.

Fintech can improve the accessibility of financial services in underserved areas by simplifying procedures for customers and ensuring transparent business transactions, increasing the market for fintech.

Thus, owing to the aforementioned factors, the global fintech market is expected to grow at a CAGR of 26.3% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the fintech market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the fintech market and held a 37.9% share of the market revenue in 2022.

• The North American region witnessed a major share. The United States fintech market has recorded the maximum adaptation of solutions due to its initial implementation in most applications and the presence of leading players in the area, although a global pandemic presented obstacles for fintech in North America in 2020. New relationships are being formed as the ecosystem evolves, and international awareness is growing.
• Asia Pacific is anticipated to experience significant growth during the predicted period. In response to the rising demand for digital financial services by the population, government initiatives that encourage technology integration in financial services are expected to drive growth in the Asia Pacific region during the Projection period.

Global Fintech Market - Country Analysis:

• Germany

Germany's fintech market size was valued at USD 10.92 billion in 2022 and is expected to reach USD 71.15 billion by 2030, at a CAGR of 26.4% from 2023 to 2030.

With 946 start-ups, the German fintech sector reaches 900 for the first time. Investment start-ups grew the fastest of all fintech categories in 2019. The number (112 start-ups) increased by 29% compared to the previous year. The trend will continue in 2020. With ten start-ups, investment start-ups have again contributed the most to growth.

• China

China’s fintech market size was valued at USD 11.3 billion in 2022 and is expected to reach USD 75 billion by 2030, at a CAGR of 26.7% from 2023 to 2030.

A number of fraudulent practices in fintech, especially in marketplace lending, led to more stringent regulations in China, which has now publicly stated its intent to lead in the development and adoption of financial technology. China has the highest penetration rate of fintech services among major economies, at 87%, and its economy is largely cashless.

• India

India's fintech market size was valued at USD 8.7 billion in 2022 and is expected to reach USD 57.4 billion by 2030, at a CAGR of 26.6% from 2023 to 2030.

During the next few years, the Indian digital payments market is expected to double from $3 trillion to $10 trillion. As a result of this unprecedented growth, digital payments (non-cash) will constitute nearly 65% of all payments by 2026, i.e., 2 out of 3 transactions will be digital, During the last few years, India has laid the foundation for establishing key enablers through important initiatives that have culminated in the fintech revolution.

Key Industry Players Analysis:  

To increase their market position in the global fintech market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• MANTL
• Chime
• Acorns
• Stripe
• PayPal
• Braintree
• Affirm
• Dwolla
• Flywire
• Bankable

Latest Development:

• In May 2022, With Mastercard's open banking platform, the company collaborated with Synctera, a leading FinTech bank. The company provides account validation solutions for Synctera-powered FinTechs.
• In March 2022, A collaboration between Envestnet and Productfy allows FinTech creators from Productfy's platform to directly access Envestnet.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	26.3%
Market Size	145.6 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Deployment Type, By Services, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	MANTL, Chime, Acorns, Stripe, PayPal, Braintree, Affirm, Dwolla, Flywire, and Bankable.
By Deployment Type	Cloud On-Premises
By Services	Insurance Payments & Fund Transfers Loans Personal Finance Others
By End-User	Securities Banking Insurance Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Fintech Market by Deployment Type:

• Cloud
• On-Premises

Global Fintech Market by Services:

• Insurance
• Payments & Fund Transfers
• Loans
• Personal Finance
• Others

Global Fintech Market by End-User:

• Securities
• Banking
• Insurance
• Others

Global Fintech Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The country's recent level of political stability had an impact on the fintech market. Furthermore, high-ranking government officials may be forced to resign or be impeached due to the politicians' honesty and proclivity to commit corruption charges. the rules that the government implements, particularly those dealing with commerce, such as contract law, because they explain what is and isn't permissible. Some countries, for example, prohibit alcohol or have rigorous regulations that must be followed, but others have bloated bureaucracies that inhibit enterprise.

Economic Factors- Whether the market is currently structured as a monopoly, oligopoly, or something more akin to a perfectly competitive system. Depending on the country's GDP growth rate, will likely expand at varied rates in the near future. Interest rates in the country determine how much people are ready to invest and borrow. Higher interest rates would promote more investment, boosting GDP. Profitability would be affected by the country's exchange rate, especially if it engaged in international trade.

Social Factors- The age and gender distribution of the population have a considerable impact on whether or not a product may be marketed to them. Because the makeup is primarily marketed to women, targeting a male demographic would result in fewer people being reached than targeting a female demographic. It would be easier to promote a premium product to the general public if the majority of people were from a lower socioeconomic class; instead, they would have to focus on exceedingly specialized niche markets. As a result, class distribution throughout the population is critical. Because of the disparities in educational backgrounds between marketers and the target market, it may be difficult to effectively relate to and attract the target market.

Technological Factors- The research and development trend in the chosen industry/region demonstrates enterprises' proactiveness in introducing innovative solutions to meet the needs of consumers. Fintech, on the other hand, must improve its knowledge of how emerging technology breakthroughs can benefit the company in addition to delivering value for customers. In markets defined by disruptive technologies, significant investment in research and development efforts would be necessary. However, Fintech must have a long-term perspective and not expect a quick return on its research and development activities.

Environmental Factors-The weather may have a considerable impact on the ability to move materials and the finished product at this time. If there is an unexpected monsoon, this will affect when the finished product is delivered. Some items would lose all of their value as a result of climate change. Warm winter apparel has a significantly smaller market in nations where winter has grown very mild due to global warming. Businesses that generate a lot of garbage may encounter legal constraints on their environmental operations.

Legal Factors- As previously stated, the purpose of intellectual property laws and other data protection regulations is to protect the ideas and patents of businesses that earn purely from the information. If there is a chance of data theft, the system will lose its competitive advantage and will almost certainly fail. Government anti-discrimination laws are intended to safeguard employees and ensure that everyone is treated equally and given equal opportunity, regardless of gender, age, handicap, race, religion, or sexual orientation. As a result of observing the horrible working conditions endured by workers during and soon following the industrial revolution, health and safety legislation was enacted.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Deployment Type
     • 3.2. Market Attractiveness Analysis By Services
     • 3.3. Market Attractiveness Analysis By End-User
     • 3.4. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rapid digitalization
   • 3. Restraints
     • 3.1. Lack of uniformity in regulations
   • 4. Opportunities
     • 4.1. Rising cases of cyber—crimes
   • 5. Challenges
     • 5.1. Complexities associated with cloud-based deployment mode

6. Global Fintech Market Analysis and Projection, By Deployment Type
   • 1. Segment Overview
   • 2. Cloud
   • 3. On-Premises
7. Global Fintech Market Analysis and Projection, By Services
   • 1. Segment Overview
   • 2. Insurance
   • 3. Payments & Fund Transfers
   • 4. Loans
   • 5. Personal Finance
   • 6. Others  
8. Global Fintech Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Securities
   • 3. Banking
   • 4. Insurance
   • 5. Others
9. Global Fintech Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

10. Global Fintech Market-Competitive Landscape
    • Overview
    • Market Share of Key Players in the Fintech Market
      • 2.1. Global Company Market Share
      • 2.2. North America Company Market Share
      • 2.3. Europe Company Market Share
      • 2.4. APAC Company Market Share
    • Competitive Situations and Trends
      • 3.1. Technology Launches and Developments
      • 3.2. Partnerships, Collaborations, and Agreements
      • 3.3. Mergers & Acquisitions
      • 3.4. Expansions

11. Company Profiles
    • MANTL
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Chime
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Acorns
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Stripe
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • PayPal
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Braintree
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Affirm
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Dwolla
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Flywire
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Bankable
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
2. Global Cloud, Fintech Market, By Region, 2023–2030 (USD Billion)
3. Global On-Premises, Fintech Market, By Region, 2023–2030 (USD Billion)
4. Global Fintech Market, By Services, 2023–2030 (USD Billion)
5. Global Insurance, Fintech Market, By Region, 2023–2030 (USD Billion)
6. Global Payments & Fund Transfers, Fintech Market, By Region, 2023–2030 (USD Billion)
7. Global Loans, Fintech Market, By Region, 2023–2030 (USD Billion)
8. Global Personal Finance, Fintech Market, By Region, 2023–2030 (USD Billion)
9. Global Others, Fintech Market, By Region, 2023–2030 (USD Billion)
10. Global Fintech Market, By End-User, 2023–2030 (USD Billion)
11. Global Securities, Fintech Market, By Region, 2023–2030 (USD Billion)
12. Global Banking, Fintech Market, By Region, 2023–2030 (USD Billion)
13. Global Insurance, Fintech Market, By Region, 2023–2030 (USD Billion)
14. Global Others, Fintech Market, By Region, 2023–2030 (USD Billion)
15. Global Fintech Market, By Region, 2023–2030 (USD Billion)
16. North America Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
17. North America Fintech Market, By Services, 2023–2030 (USD Billion)
18. North America Fintech Market, By End-User, 2023–2030 (USD Billion)
19. USA Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
20. USA Fintech Market, By Services, 2023–2030 (USD Billion)
21. USA Fintech Market, By End-User, 2023–2030 (USD Billion)
22. Canada Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
23. Canada Fintech Market, By Services, 2023–2030 (USD Billion)
24. Canada Fintech Market, By End-User, 2023–2030 (USD Billion)
25. Mexico Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
26. Mexico Fintech Market, By Services, 2023–2030 (USD Billion)
27. Mexico Fintech Market, By End-User, 2023–2030 (USD Billion)
28. Europe Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
29. Europe Fintech Market, By Services, 2023–2030 (USD Billion)
30. Europe Fintech Market, By End-User, 2023–2030 (USD Billion)
31. Germany Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
32. Germany Fintech Market, By Services, 2023–2030 (USD Billion)
33. Germany Fintech Market, By End-User, 2023–2030 (USD Billion)
34. France Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
35. France Fintech Market, By Services, 2023–2030 (USD Billion)
36. France Fintech Market, By End-User, 2023–2030 (USD Billion)
37. UK Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
38. UK Fintech Market, By Services, 2023–2030 (USD Billion)
39. UK Fintech Market, By End-User, 2023–2030 (USD Billion)
40. Italy Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
41. Italy Fintech Market, By Services, 2023–2030 (USD Billion)
42. Italy Fintech Market, By End-User, 2023–2030 (USD Billion)
43. Spain Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
44. Spain Fintech Market, By Services, 2023–2030 (USD Billion)
45. Spain Fintech Market, By End-User, 2023–2030 (USD Billion)
46. Asia Pacific Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
47. Asia Pacific Fintech Market, By Services, 2023–2030 (USD Billion)
48. Asia Pacific Fintech Market, By End-User, 2023–2030 (USD Billion)
49. Japan Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
50. Japan Fintech Market, By Services, 2023–2030 (USD Billion)
51. Japan Fintech Market, By End-User, 2023–2030 (USD Billion)
52. China Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
53. China Fintech Market, By Services, 2023–2030 (USD Billion)
54. China Fintech Market, By End-User, 2023–2030 (USD Billion)
55. India Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
56. India Fintech Market, By Services, 2023–2030 (USD Billion)
57. India Fintech Market, By End-User, 2023–2030 (USD Billion)
58. South America Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
59. South America Fintech Market, By Services, 2023–2030 (USD Billion)
60. South America Fintech Market, By End-User, 2023–2030 (USD Billion)
61. Brazil Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
62. Brazil Fintech Market, By Services, 2023–2030 (USD Billion)
63. Brazil Fintech Market, By End-User, 2023–2030 (USD Billion)
64. Middle East and Africa Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
65. Middle East and Africa Fintech Market, By Services, 2023–2030 (USD Billion)
66. Middle East and Africa Fintech Market, By End-User, 2023–2030 (USD Billion)
67. UAE Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
68. UAE Fintech Market, By Services, 2023–2030 (USD Billion)
69. UAE Fintech Market, By End-User, 2023–2030 (USD Billion)
70. South Africa Fintech Market, By Deployment Type, 2023–2030 (USD Billion)
71. South Africa Fintech Market, By Services, 2023–2030 (USD Billion)
72. South Africa Fintech Market, By End-User, 2023–2030 (USD Billion)

List of Figures 

1. Global Fintech Market Segmentation
2. Fintech Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Fintech Market Attractiveness Analysis By Deployment Type
9. Global Fintech Market Attractiveness Analysis By Services
10. Global Fintech Market Attractiveness Analysis By End-User
11. Global Fintech Market Attractiveness Analysis By Region
12. Global Fintech Market: Dynamics
13. Global Fintech Market Share By Deployment Type (2023 & 2030)
14. Global Fintech Market Share By Services (2023 & 2030)
15. Global Fintech Market Share By End-User (2023 & 2030)
16. Global Fintech Market Share by Regions (2023 & 2030)
17. Global Fintech Market Share by Company (2021)