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China Fintech Market Size, Share, Report, Analysis, Trends: By Deployment Mode: On-Premises, Cloud; By Technology: Artificial Intelligence, Application Programming Interface (API), Robotic Process Automation, Data Analytics, Others; By Application: Banking, Insurance, Securities, Others; Market Dynamics; Competitive Landscape; 2024-2032
China Fintech Market Outlook
The China fintech market size reached approximately USD 76.5 billion in 2023. The market is further projected to grow at a CAGR of 18.3% between 2024 and 2032, reaching a value of USD 347.57 billion by 2032.
Key Trends in the Market
Fintech, or financial technology, refers to the utilisation of technology by businesses for automation and enhancement of financial processes or services. From investment apps and cryptocurrency to insurance and mobile banking, the technology has a wide array of applications. The latest advancements of fintech include blockchain and cryptocurrency, among others.
- The increasing utilisation of telemedicine, e-commerce, and e-learning is boosting the requirement for online payments, aiding the China fintech market growth. To simplify digital banking for users, various financial giants and startups are developing a wide range of financial software that provide biometrical security, robo-advisory, and voice activated and QR payment codes, among others.
- The increasing adoption of novel technologies by the sector including blockchain, artificial intelligence, cloud computing, augment reality and virtual reality, and machine learning, among others is supporting the market expansion. The adoption of these technologies allows financial companies to offer remote services, enhancing customer convenience.
- The rising sophistication of financial software development companies due to increasing access to capital is bolstering the market growth. This aids the companies to increase emphasis on cybersecurity, protecting financial transactions and user data.
China Fintech Market Segmentation
On the basis of deployment mode, the market is bifurcated into on-premises and cloud. Based on technology, the market is divided into artificial intelligence, application programming interface (API), robotic process automation, and data analytics, among others. On the basis of application, the market is segmented into includes banking, insurance, and securities, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the China fintech market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Airwallex
- ZhongAn Technologies International Group Limited
- Beijing Lerong Duoyuan Information Technology Co., Ltd.
- Shanghai Dianrong Financial Information Services Co., Ltd.
- Tencent Holdings Ltd.
- Rong360.com Inc.
- Lufax Holdings Limited
- Mashang Consumer Finance Co., Ltd.
- ZhongAn Online Property Insurance Co., Ltd.
- Futu Securities International (Hong Kong) Limited
- OneConnect Technology Co.,LTD.
- Others
Market Share by Deployment Mode
On-premises is anticipated to account for a significant China fintech market share. This growth can be attributed to the high security, control, and performance optimisation offered by the mode of deployment. On-premises allows the local storage of data offering enhanced control of data, services, and resources. The low latency and short feedback loop between the employees and on-premises infrastructure supports the performance optimisation. On-premises protects sensitive data from leaving the company and is especially helpful for regulatory compliances.
Market Share by Application
Insurance activities are anticipated to witness significant growth over the forecast period. This growth can be attributed to the increasing affordability and accessibility of insurance services and products and rising awareness about the various advantages associated with different insurance policies. Insurance also allows individuals and businesses to avoid unforeseen financial risks and safeguard their assets. The rising technological advancements and increasing environmental risks are boosting the China fintech market demand.
Competitive Landscape
Airwallex is one of the leading financial services providing company that was founded in 2015 and is headquartered in Melbourne, Australia. The company offers trusted solutions for management of payments, expenses, and treasury, among others.
ZhongAn Technologies International Group Limited is an insurance company that was founded in 2013 and is headquartered in Shanghai, China. The company develops and offers ecosystem-oriented insurance solutions and products to their customers.
Tencent Holdings Ltd. is one of the leading software development companies. The business services and financial technologies provided by the company supports the growth of their client’s businesses and assists their digital upgrade.
Other China fintech market key players include Beijing Lerong Duoyuan Information Technology Co., Ltd., Shanghai Dianrong Financial Information Services Co., Ltd., Rong360.com Inc., Lufax Holdings Limited, Mashang Consumer Finance Co., Ltd., ZhongAn Online Property Insurance Co., Ltd., Futu Securities International (Hong Kong) Limited, and OneConnect Technology Co.,LTD., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Deployment Mode |
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| Breakup by Technology |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Fintech Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Fintech Historical Market (2018-2023)
8.3 Asia Pacific Fintech Market Forecast (2024-2032)
8.4 Asia Pacific Fintech Market Breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 China
8.4.6 Others
9 China Fintech Market Overview
9.1 Key Industry Highlights
9.2 China Fintech Historical Market (2018-2023)
9.3 China Fintech Market Forecast (2024-2032)
10 China Fintech Market by Deployment Mode
10.1 On-Premises
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cloud
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 China Fintech Market by Technology
11.1 Artificial Intelligence
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Application Programming Interface (API)
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Robotic Process Automation
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Data Analytics
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 China Fintech Market by Application
12.1 Banking
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Insurance
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Securities
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Airwallex
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 ZhongAn Technologies International Group Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Beijing Lerong Duoyuan Information Technology Co., Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Shanghai Dianrong Financial Information Services Co., Ltd.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Tencent Holdings Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Rong360.com Inc.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Lufax Holdings Limited
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Mashang Consumer Finance Co., Ltd.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 ZhongAn Online Property Insurance Co., Ltd.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Futu Securities International (Hong Kong) Limited
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 OneConnect Technology Co.,LTD.
14.2.11.1 Company Overview
14.2.11.2 Product Portfolio
14.2.11.3 Demographic Reach and Achievements
14.2.11.4 Certifications
14.2.12 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Fintech Market: Key Industry Highlights, 2018 and 2032
2. China Fintech Market: Key Industry Highlights, 2018 and 2032
3. China Fintech Historical Market: Breakup by Deployment Mode (USD Billion), 2018-2023
4. China Fintech Market Forecast: Breakup by Deployment Mode (USD Billion), 2024-2032
5. China Fintech Historical Market: Breakup by Technology (USD Billion), 2018-2023
6. China Fintech Market Forecast: Breakup by Technology (USD Billion), 2024-2032
7. China Fintech Historical Market: Breakup by Application (USD Billion), 2018-2023
8. China Fintech Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. China Fintech Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 76.5 billion in 2023.
The market is projected to grow at a CAGR of 18.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 347.57 billion by 2032.
The major market drivers include increasing utilisation of telemedicine, e-commerce, and e-learning is boosting the requirement for fintech services and rising sophistication of financial software development companies.
The key trends fuelling the growth of the market include increasing adoption of novel technologies by the sector including blockchain, artificial intelligence, cloud computing, augment reality and virtual reality, and machine learning and increasing access to capital.
The major applications include banking, insurance, and securities, among others.
The significant technologies include artificial intelligence, application programming interface (API), robotic process automation, and data analytics, among others.
The key players in the market are Airwallex, ZhongAn Technologies International Group Limited, Beijing Lerong Duoyuan Information Technology Co., Ltd., Shanghai Dianrong Financial Information Services Co., Ltd., Tencent Holdings Ltd., Rong360.com Inc., Lufax Holdings Limited, Mashang Consumer Finance Co., Ltd., ZhongAn Online Property Insurance Co., Ltd., Futu Securities International (Hong Kong) Limited, and OneConnect Technology Co.,LTD., among others.
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